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32500.0 | 2020-08-27 00:00:00 UTC | Futures fall as jobless claims hover at 1 mln mark; focus shifts to Powell | ABT | https://www.nasdaq.com/articles/futures-fall-as-jobless-claims-hover-at-1-mln-mark-focus-shifts-to-powell-2020-08-27 | nan | nan | By Medha Singh and Devik Jain
Aug 27 (Reuters) - U.S. stock index futures fell on Thursday as weekly jobless claims hovered near the 1 million mark, while investors waited to hear from Jerome Powell on the Federal Reserve's approach to lifting the economy out of a pandemic-led recession.
Initial claims for state unemployment benefits totaled a seasonally adjusted 1.006 million for the week ended Aug. 22, compared with 1.104 million in the prior week, the Labor Department said on Thursday. Economists polled by Reuters had forecast 1 million applications.
Even as unemployment remains at high levels in the worst downturn since the Great Depression, the S&P 500 and the Nasdaq have risen to new highs, largely driven by investors pouring into heavyweight technology-related stocks.
All eyes are now on Powell, who is likely to make a case for higher inflation tolerance and lower interest rates in an overhaul of the central bank's policy approach in his remarks at the virtual Jackson Hole symposium. The Fed chief's address begins at 9:10 a.m. EDT (1310 GMT).
"All this free money is going to start to show up in the form of some type of inflation," said Dennis Dick, head of markets structure, proprietary trader at Bright Trading LLC in Las Vegas.
"The money managers are starting to get ahead of that trade and that's why they continue to go into the stocks that they deem the safest, which is the tech stocks right now."
At 8:34 a.m. ET, Dow e-minis 1YMcv1 were down 3 points, or 0.01%, S&P 500 e-minis EScv1 were down 3 points, or 0.09% and Nasdaq 100 e-minis NQcv1 were down 22.75 points, or 0.19%.
Among early movers, NetApp Inc NTAP.O jumped 8.5% in premarket trading after it posted better-than-expected quarterly results, powered by demand for its cloud services.
Abbott Laboratories ABT.N surged 9% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test.
Cosmetics maker Coty Inc COTY.N shed 4.7% after posting a bigger-than-expected quarterly loss as demand for its beauty products took a hit from closures of stores and parlors.
(Reporting by Medha Singh and Devik Jain in Bengaluru; Editing by Arun Koyyur and Saumyadeb Chakrabarty)
((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6749 1130; 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 surged 9% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test. By Medha Singh and Devik Jain Aug 27 (Reuters) - U.S. stock index futures fell on Thursday as weekly jobless claims hovered near the 1 million mark, while investors waited to hear from Jerome Powell on the Federal Reserve's approach to lifting the economy out of a pandemic-led recession. All eyes are now on Powell, who is likely to make a case for higher inflation tolerance and lower interest rates in an overhaul of the central bank's policy approach in his remarks at the virtual Jackson Hole symposium. | Abbott Laboratories ABT.N surged 9% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test. By Medha Singh and Devik Jain Aug 27 (Reuters) - U.S. stock index futures fell on Thursday as weekly jobless claims hovered near the 1 million mark, while investors waited to hear from Jerome Powell on the Federal Reserve's approach to lifting the economy out of a pandemic-led recession. ET, Dow e-minis 1YMcv1 were down 3 points, or 0.01%, S&P 500 e-minis EScv1 were down 3 points, or 0.09% and Nasdaq 100 e-minis NQcv1 were down 22.75 points, or 0.19%. | Abbott Laboratories ABT.N surged 9% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test. By Medha Singh and Devik Jain Aug 27 (Reuters) - U.S. stock index futures fell on Thursday as weekly jobless claims hovered near the 1 million mark, while investors waited to hear from Jerome Powell on the Federal Reserve's approach to lifting the economy out of a pandemic-led recession. Initial claims for state unemployment benefits totaled a seasonally adjusted 1.006 million for the week ended Aug. 22, compared with 1.104 million in the prior week, the Labor Department said on Thursday. | Abbott Laboratories ABT.N surged 9% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test. By Medha Singh and Devik Jain Aug 27 (Reuters) - U.S. stock index futures fell on Thursday as weekly jobless claims hovered near the 1 million mark, while investors waited to hear from Jerome Powell on the Federal Reserve's approach to lifting the economy out of a pandemic-led recession. Economists polled by Reuters had forecast 1 million applications. |
32501.0 | 2020-08-27 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Cassiopea, Box Inc, Abbott Laboratories, Tencent Music | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-cassiopea-box-inc-abbott-laboratories-tencent-music-2020-08 | 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 dipped on Thursday as tensions between Washington and Beijing dampened the mood ahead of an address by Federal Reserve Chair Jerome Powell, in which he is expected to take a softer stance on inflation to support a fragile economy. .N
At 7:00 a.m. ET, Dow e-minis 1YMc1 were down 0.27% at 28,236. S&P 500 e-minis ESc1 were down 0.20% at 3,473.25, while Nasdaq 100 e-minis NQc1 were down 0.19% at 11,969. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Sandridge Permian Trust , up 51.1% ** Renesola Ltd , up 22.2% ** Box Inc , up 8.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Quest Diagnostics Inc , down 5.4% ** Clear Channel Outdoor Holdings Inc , down 5.2% ** The Howard Hughes Corp , down 4.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Moxian Inc , up 61.4% ** Mediaco Holding Inc , up 22.2% ** Clovis Oncology Inc , up 21.0% The top three Nasdaq percentage losers premarket .PRPL.O: ** Kaixin Auto Holdings , down 36.4% ** Lonestar Resources Us Inc , down 24.9% ** Cocrystal Pharma Inc , down 24.3% ** Cassiopea SpA SKIN.S: up 17.3% premarket BUZZ-Rallies on FDA approval for acne treatment ** Box Inc BOX.N: up 8.4% premarket BUZZ-Rises after co raises annual revenue forecast ** Abbott Laboratories ABT.N: up 8.1% premarket BUZZ-Set to touch record high on U.S. authorization for COVID-19 test ** Williams-Sonoma Inc WSM.N: down 4.4% premarket BUZZ-JP Morgan lifts PT on near-term outlook ** Tencent Music Entertainment TME.N: down 2.0% premarket BUZZ-Falls on $800 mln notes offering
(Compiled by Shivani Kumaresan in Bengaluru)
((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Sandridge Permian Trust , up 51.1% ** Renesola Ltd , up 22.2% ** Box Inc , up 8.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Quest Diagnostics Inc , down 5.4% ** Clear Channel Outdoor Holdings Inc , down 5.2% ** The Howard Hughes Corp , down 4.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Moxian Inc , up 61.4% ** Mediaco Holding Inc , up 22.2% ** Clovis Oncology Inc , up 21.0% The top three Nasdaq percentage losers premarket .PRPL.O: ** Kaixin Auto Holdings , down 36.4% ** Lonestar Resources Us Inc , down 24.9% ** Cocrystal Pharma Inc , down 24.3% ** Cassiopea SpA SKIN.S: up 17.3% premarket BUZZ-Rallies on FDA approval for acne treatment ** Box Inc BOX.N: up 8.4% premarket BUZZ-Rises after co raises annual revenue forecast ** Abbott Laboratories ABT.N: up 8.1% premarket BUZZ-Set to touch record high on U.S. authorization for COVID-19 test ** Williams-Sonoma Inc WSM.N: down 4.4% premarket BUZZ-JP Morgan lifts PT on near-term outlook ** Tencent Music Entertainment TME.N: down 2.0% premarket BUZZ-Falls on $800 mln notes offering (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 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 dipped on Thursday as tensions between Washington and Beijing dampened the mood ahead of an address by Federal Reserve Chair Jerome Powell, in which he is expected to take a softer stance on inflation to support a fragile economy. ET, Dow e-minis 1YMc1 were down 0.27% at 28,236. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Sandridge Permian Trust , up 51.1% ** Renesola Ltd , up 22.2% ** Box Inc , up 8.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Quest Diagnostics Inc , down 5.4% ** Clear Channel Outdoor Holdings Inc , down 5.2% ** The Howard Hughes Corp , down 4.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Moxian Inc , up 61.4% ** Mediaco Holding Inc , up 22.2% ** Clovis Oncology Inc , up 21.0% The top three Nasdaq percentage losers premarket .PRPL.O: ** Kaixin Auto Holdings , down 36.4% ** Lonestar Resources Us Inc , down 24.9% ** Cocrystal Pharma Inc , down 24.3% ** Cassiopea SpA SKIN.S: up 17.3% premarket BUZZ-Rallies on FDA approval for acne treatment ** Box Inc BOX.N: up 8.4% premarket BUZZ-Rises after co raises annual revenue forecast ** Abbott Laboratories ABT.N: up 8.1% premarket BUZZ-Set to touch record high on U.S. authorization for COVID-19 test ** Williams-Sonoma Inc WSM.N: down 4.4% premarket BUZZ-JP Morgan lifts PT on near-term outlook ** Tencent Music Entertainment TME.N: down 2.0% premarket BUZZ-Falls on $800 mln notes offering (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 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 dipped on Thursday as tensions between Washington and Beijing dampened the mood ahead of an address by Federal Reserve Chair Jerome Powell, in which he is expected to take a softer stance on inflation to support a fragile economy. S&P 500 e-minis ESc1 were down 0.20% at 3,473.25, while Nasdaq 100 e-minis NQc1 were down 0.19% at 11,969. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Sandridge Permian Trust , up 51.1% ** Renesola Ltd , up 22.2% ** Box Inc , up 8.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Quest Diagnostics Inc , down 5.4% ** Clear Channel Outdoor Holdings Inc , down 5.2% ** The Howard Hughes Corp , down 4.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Moxian Inc , up 61.4% ** Mediaco Holding Inc , up 22.2% ** Clovis Oncology Inc , up 21.0% The top three Nasdaq percentage losers premarket .PRPL.O: ** Kaixin Auto Holdings , down 36.4% ** Lonestar Resources Us Inc , down 24.9% ** Cocrystal Pharma Inc , down 24.3% ** Cassiopea SpA SKIN.S: up 17.3% premarket BUZZ-Rallies on FDA approval for acne treatment ** Box Inc BOX.N: up 8.4% premarket BUZZ-Rises after co raises annual revenue forecast ** Abbott Laboratories ABT.N: up 8.1% premarket BUZZ-Set to touch record high on U.S. authorization for COVID-19 test ** Williams-Sonoma Inc WSM.N: down 4.4% premarket BUZZ-JP Morgan lifts PT on near-term outlook ** Tencent Music Entertainment TME.N: down 2.0% premarket BUZZ-Falls on $800 mln notes offering (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 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 dipped on Thursday as tensions between Washington and Beijing dampened the mood ahead of an address by Federal Reserve Chair Jerome Powell, in which he is expected to take a softer stance on inflation to support a fragile economy. S&P 500 e-minis ESc1 were down 0.20% at 3,473.25, while Nasdaq 100 e-minis NQc1 were down 0.19% at 11,969. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Sandridge Permian Trust , up 51.1% ** Renesola Ltd , up 22.2% ** Box Inc , up 8.4% The top three NYSE percentage losers premarket .PRPL.NQ: ** Quest Diagnostics Inc , down 5.4% ** Clear Channel Outdoor Holdings Inc , down 5.2% ** The Howard Hughes Corp , down 4.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Moxian Inc , up 61.4% ** Mediaco Holding Inc , up 22.2% ** Clovis Oncology Inc , up 21.0% The top three Nasdaq percentage losers premarket .PRPL.O: ** Kaixin Auto Holdings , down 36.4% ** Lonestar Resources Us Inc , down 24.9% ** Cocrystal Pharma Inc , down 24.3% ** Cassiopea SpA SKIN.S: up 17.3% premarket BUZZ-Rallies on FDA approval for acne treatment ** Box Inc BOX.N: up 8.4% premarket BUZZ-Rises after co raises annual revenue forecast ** Abbott Laboratories ABT.N: up 8.1% premarket BUZZ-Set to touch record high on U.S. authorization for COVID-19 test ** Williams-Sonoma Inc WSM.N: down 4.4% premarket BUZZ-JP Morgan lifts PT on near-term outlook ** Tencent Music Entertainment TME.N: down 2.0% premarket BUZZ-Falls on $800 mln notes offering (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 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 dipped on Thursday as tensions between Washington and Beijing dampened the mood ahead of an address by Federal Reserve Chair Jerome Powell, in which he is expected to take a softer stance on inflation to support a fragile economy. ET, Dow e-minis 1YMc1 were down 0.27% at 28,236. |
32502.0 | 2020-08-27 00:00:00 UTC | Wall Street rises as Fed targets 2% average inflation | ABT | https://www.nasdaq.com/articles/wall-street-rises-as-fed-targets-2-average-inflation-2020-08-27 | nan | nan | By Medha Singh and Devik Jain
Aug 27 (Reuters) - Wall Street's main indexes rose on Thursday as Federal Reserve Chair Jerome Powell rolled out the U.S. central bank's aggressive new strategy to restore the United States to full employment and lift inflation back to healthier levels.
Under the new approach, the Fed will seek to achieve inflation averaging 2%, offsetting below-2% periods with higher inflation "for some time," and to ensure employment doesn't fall short of its maximum level.
"This market these days is all driven by expectations for more or less Fed liquidity," said Ernesto Ramos, managing director of active equities at BMO Global Asset Management in Chicago.
"When you have a liquidity driven market, people are not buying stocks according to what the underlying pillars of growth are. Therefore, when that liquidity gets taken away, the whole house of cards collapses."
The S&P 500 and the Nasdaq have risen to new highs, largely driven by a tech-related rally at a time when the U.S. economy is struggling with its worst downturn since the Great Depression.
Data on Thursday showed weekly jobless claims hovered around 1 million last week, suggesting the labor market recovery was stalling.
At 9:58 a.m. ET, the Dow Jones Industrial Average .DJI was up 259.60 points, or 0.92%, at 28,591.52, turning positive on the year for the first time since a coronavirus-driven crash in March.
The S&P 500 .SPX was up 16.15 points, or 0.46%, at 3,494.88 and the Nasdaq Composite .IXIC was up 14.89 points, or 0.13%, at 11,679.95.
Economically-sensitive financials .SPSY jumped the most among the 11 major S&P sectors while tech-focused sectors eased.
Boeing Co BA.N rose 5% after the European Union Aviation Safety Agency (EASA) announced plans to begin flight tests of its 737 MAX plane, a move viewed as a key milestone toward its return to service.
Abbott Laboratories ABT.N surged 7.8% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test.
Cosmetics maker Coty Inc COTY.N shed 6.9% after posting a bigger-than-expected quarterly loss as demand for its beauty products took a hit from the closure of stores and parlors.
Advancing issues outnumbered decliners 2.03-to-1 on the NYSE and 1.20-to-1 on the Nasdaq.
The S&P index recorded 32 new 52-week highs and no new low, while the Nasdaq recorded 44 new highs and eight new lows.
(Reporting by Medha Singh and Devik Jain in Bengaluru, additional reporting by Sinead Carew in New York; Editing by Saumyadeb Chakrabarty and Arun Koyyur)
((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6749 1130; 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 surged 7.8% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test. By Medha Singh and Devik Jain Aug 27 (Reuters) - Wall Street's main indexes rose on Thursday as Federal Reserve Chair Jerome Powell rolled out the U.S. central bank's aggressive new strategy to restore the United States to full employment and lift inflation back to healthier levels. Boeing Co BA.N rose 5% after the European Union Aviation Safety Agency (EASA) announced plans to begin flight tests of its 737 MAX plane, a move viewed as a key milestone toward its return to service. | Abbott Laboratories ABT.N surged 7.8% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test. By Medha Singh and Devik Jain Aug 27 (Reuters) - Wall Street's main indexes rose on Thursday as Federal Reserve Chair Jerome Powell rolled out the U.S. central bank's aggressive new strategy to restore the United States to full employment and lift inflation back to healthier levels. The S&P index recorded 32 new 52-week highs and no new low, while the Nasdaq recorded 44 new highs and eight new lows. | Abbott Laboratories ABT.N surged 7.8% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test. By Medha Singh and Devik Jain Aug 27 (Reuters) - Wall Street's main indexes rose on Thursday as Federal Reserve Chair Jerome Powell rolled out the U.S. central bank's aggressive new strategy to restore the United States to full employment and lift inflation back to healthier levels. "This market these days is all driven by expectations for more or less Fed liquidity," said Ernesto Ramos, managing director of active equities at BMO Global Asset Management in Chicago. | Abbott Laboratories ABT.N surged 7.8% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test. By Medha Singh and Devik Jain Aug 27 (Reuters) - Wall Street's main indexes rose on Thursday as Federal Reserve Chair Jerome Powell rolled out the U.S. central bank's aggressive new strategy to restore the United States to full employment and lift inflation back to healthier levels. Under the new approach, the Fed will seek to achieve inflation averaging 2%, offsetting below-2% periods with higher inflation "for some time," and to ensure employment doesn't fall short of its maximum level. |
32503.0 | 2020-08-27 00:00:00 UTC | Why Fulgent Genetics Is Crashing Today | ABT | https://www.nasdaq.com/articles/why-fulgent-genetics-is-crashing-today-2020-08-27 | nan | nan | What happened
After competitor Abbott Labs (NYSE: ABT) unveiled a $5, 15-minute COVID-19 test, shares of Fulgent Genetics (NASDAQ: FLGT) are tumbling 28.7% at 11:15 a.m. EDT on Thursday.
So what
Fulgent Genetics' bread-and-butter business is providing genetic testing for cancer patients and would-be parents. However, management pivoted earlier this year to provide COVID-19 testing, too, and that's caused revenue and the company's share price to soar.
IMAGE SOURCE: GETTY IMAGES.
In Q2, sales surged 105% year over year to $17.3 million because of significant COVID-19 test demand, resulting in adjusted earnings per share of $0.17, which was $0.19 better than industry watchers' forecast. The healthcare company delivered 180,513 billable tests in the period, up more than 1,003% from the same quarter last year.
The company's test volume continued increasing in the third quarter, too. During Fulgent Genetics second-quarter conference call in July, management said it expects quarterly testing volume to increase from about 180,000 in Q2 to over 700,000. Earlier this month, it increased its full-year sales outlook to $135 million from $120 million, previously.
The growth forecast could be temporary, though. On Thursday, healthcare-giant Abbott Labs announced that it's releasing a 15-minute COVID-19 test using a nasal swab and a reactive card that will cost just $5 per test. Fulgent Genetics' turnaround time from receiving the sample to results is 24 hours, and its cost is higher, with management charging $39 out of pocket for its at-home test.
Now what
A faster, cheaper testing alternative could reduce the spread of COVID-19 and help businesses return to normal operations. However, a previous Abbott Labs test drew criticism over potential false positives, so investors will want to wait and see how the test performs following its launch.
If Abbott's launch is successful, government and corporate clients could shift away from Fulgent Genetics' testing option, causing revenue to drop in future quarters. However, Fulgent Genetics' main business of genetic testing for cancer patients and parents-to-be has been negatively impacted by COVID-19 lockdowns, so demand for those services should benefit if widespread testing results in more people visiting doctors.
Overall, the genetic-testing market is expected to eclipse $10 billion by 2022 worldwide, so Fulgent Genetics' current sales suggest it has plenty of potential to produce meaningful revenue growth regardless of how the COVID-19 marketplace evolves.
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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. | What happened After competitor Abbott Labs (NYSE: ABT) unveiled a $5, 15-minute COVID-19 test, shares of Fulgent Genetics (NASDAQ: FLGT) are tumbling 28.7% at 11:15 a.m. EDT on Thursday. If Abbott's launch is successful, government and corporate clients could shift away from Fulgent Genetics' testing option, causing revenue to drop in future quarters. Overall, the genetic-testing market is expected to eclipse $10 billion by 2022 worldwide, so Fulgent Genetics' current sales suggest it has plenty of potential to produce meaningful revenue growth regardless of how the COVID-19 marketplace evolves. | What happened After competitor Abbott Labs (NYSE: ABT) unveiled a $5, 15-minute COVID-19 test, shares of Fulgent Genetics (NASDAQ: FLGT) are tumbling 28.7% at 11:15 a.m. EDT on Thursday. So what Fulgent Genetics' bread-and-butter business is providing genetic testing for cancer patients and would-be parents. However, management pivoted earlier this year to provide COVID-19 testing, too, and that's caused revenue and the company's share price to soar. | What happened After competitor Abbott Labs (NYSE: ABT) unveiled a $5, 15-minute COVID-19 test, shares of Fulgent Genetics (NASDAQ: FLGT) are tumbling 28.7% at 11:15 a.m. EDT on Thursday. So what Fulgent Genetics' bread-and-butter business is providing genetic testing for cancer patients and would-be parents. However, Fulgent Genetics' main business of genetic testing for cancer patients and parents-to-be has been negatively impacted by COVID-19 lockdowns, so demand for those services should benefit if widespread testing results in more people visiting doctors. | What happened After competitor Abbott Labs (NYSE: ABT) unveiled a $5, 15-minute COVID-19 test, shares of Fulgent Genetics (NASDAQ: FLGT) are tumbling 28.7% at 11:15 a.m. EDT on Thursday. In Q2, sales surged 105% year over year to $17.3 million because of significant COVID-19 test demand, resulting in adjusted earnings per share of $0.17, which was $0.19 better than industry watchers' forecast. The company's test volume continued increasing in the third quarter, too. |
32504.0 | 2020-08-27 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Microsoft Corp, Beyond Meat Inc, Peloton Interactive Inc, Electronic Arts Inc | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-microsoft-corp-beyond-meat-inc-peloton-interactive-inc | 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
The S&P 500 and the Nasdaq rose to record highs on Thursday as the Federal Reserve sought to achieve inflation averaging 2% over time in an attempt to lift the U.S. economy out of a deep pandemic-driven recession. .N
At 11:30 a.m. ET, the Dow Jones Industrial Average .DJI was up 0.73% at 28,537.88. The S&P 500 .SPX was up 0.39% at 3,492.36 and the Nasdaq Composite .IXIC was up 0.25% at 11,693.694. The top three S&P 500 .PG.INX percentage gainers: ** Live Nation Entertainment Inc , up 9.5% ** Abbott Laboratories , up 6.9% ** Norwegian Cruise Line Holdings Ltd , up 6.6% The top three S&P 500 .PL.INX percentage losers: ** Quest Diagnostics Inc , down 6.7% ** Hologic Inc , down 6.1% ** Coty Inc , down 5.7% The top three NYSE .PG.N percentage gainers: ** Amc Entertainment Holdings Inc , up 18.9% ** Abercrombie & Fitch Co , up 17.2% ** Veoneer Inc , up 16.4% The top three NYSE .PL.N percentage losers: ** Laix Inc , down 16.2% ** Lannett Company Inc , down 15.5% ** Garret Motion Inc , down 13% The top three Nasdaq .PG.O percentage gainers: ** Vbi Vaccines Inc , up 44.2% ** Sunpower Corp , up 26.9% ** Rekor Systems Inc , up 21.2% The top three Nasdaq .PL.O percentage losers: ** Maxeon Solar Technologies Ltd , down 59.8% ** Quidel Corp , down 35.4% ** Fluidigm Corp , down 33.3% ** Cassiopea SpA SKIN.S: up 15.2%
BUZZ-Rallies on FDA approval for acne treatment ** Box Inc BOX.N: up 7.1%
BUZZ-Rises after co raises annual revenue forecast ** Abbott Laboratories ABT.N: up 6.8%
BUZZ-Abbott shares hit record high on U.S. authorization for COVID-19 test ** Tencent Music Entertainment TME.N: down 0.2%
BUZZ-Falls on $800 mln notes offering ** Coty Inc COTY.N: down 5.6%
BUZZ-Falls after Q4 results disappoint ** Sandridge Permian Trust PER.N: up 54.7%
BUZZ-Surges as PEDEVCO shows takeover interest ** Pluristem Therapeutics Inc PSTI.O: up 4.8%
BUZZ-Rises as FDA clears expanded access program for its COVID-19 therapy ** RedHill Biopharma Ltd RDHL.O: up 3.5%
BUZZ-Rises after safety panel allows COVID-19 treatment study to continue ** Tiffany & Co TIF.N: up 2.2%
BUZZ-Shares rise on profit beat, upbeat demand outlook ** ReneSola Ltd SOL.N: up 4.9%
BUZZ-Surges after Q2 revenue nearly doubles ** Moxian Inc MOXC.O: up 8.6%
BUZZ-Jumps after Btab acquisition ** Boeing Co BA.N: up 2.3%
BUZZ-Rises as Europe regulator to start 737 MAX tests in September ** ViacomCBS VIAC.O: up 0.8%
BUZZ-Wells Fargo upgrades to 'Equal Weight' on DTC potential ** Abercrombie & Fitch ANF.N: up 17.2%
BUZZ-Jumps as online boost, cost cuts drive surprise profit ** VBI Vaccines VBIV.O: up 44.2%
BUZZ-Up as Raymond James says co might have "best COVID-19 vaccine" ** Veoneer Inc VNE.N: up 16.3%
BUZZ-Surges on autonomous driving tie-up with Qualcomm ** Laboratory Corporation of America Holdings LH.N: down 2.1% ** Quidel Corp QDEL.O: down 35.4%
BUZZ-Labs pressured as Abbott to market $5 rapid COVID-19 test ** Sanderson Farms Inc SAFM.O: up 6.4%
BUZZ-Rises as retail demand spurs solid Q3 beat ** 1-800-Flowers.Com FLWS.O: up 3.5%
BUZZ-Rises on Q4 earnings beat ** Microsoft Corp MSFT.O: up 3.5%
BUZZ-Rises as report suggests TikTok deal imminent ** Beyond Meat Inc BYND.O: up 10.0%
BUZZ-Sizzles after starting direct online sales of products ** Peloton Interactive Inc PTON.O: up 4.2%
BUZZ-Rises as Goldman Sachs hikes PT to Street high ** Electronic Arts Inc EA.O: down 1.1%
BUZZ-EA down as rival Epic Games launches latest version of "Fortnite"
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 0.57%
Consumer Discretionary
.SPLRCD
flat
Consumer Staples
.SPLRCS
up 0.64%
Energy
.SPNY
down 0.20%
Financial
.SPSY
up 1.62%
Health
.SPXHC
up 0.60%
Industrial
.SPLRCI
up 0.28%
Information Technology
.SPLRCT
up 0.49%
Materials
.SPLRCM
down 0.38%
Real Estate
.SPLRCR
up 1.12%
Utilities
.SPLRCU
down 0.05%
(Compiled by Shivani Kumaresan in Bengaluru)
((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Live Nation Entertainment Inc , up 9.5% ** Abbott Laboratories , up 6.9% ** Norwegian Cruise Line Holdings Ltd , up 6.6% The top three S&P 500 .PL.INX percentage losers: ** Quest Diagnostics Inc , down 6.7% ** Hologic Inc , down 6.1% ** Coty Inc , down 5.7% The top three NYSE .PG.N percentage gainers: ** Amc Entertainment Holdings Inc , up 18.9% ** Abercrombie & Fitch Co , up 17.2% ** Veoneer Inc , up 16.4% The top three NYSE .PL.N percentage losers: ** Laix Inc , down 16.2% ** Lannett Company Inc , down 15.5% ** Garret Motion Inc , down 13% The top three Nasdaq .PG.O percentage gainers: ** Vbi Vaccines Inc , up 44.2% ** Sunpower Corp , up 26.9% ** Rekor Systems Inc , up 21.2% The top three Nasdaq .PL.O percentage losers: ** Maxeon Solar Technologies Ltd , down 59.8% ** Quidel Corp , down 35.4% ** Fluidigm Corp , down 33.3% ** Cassiopea SpA SKIN.S: up 15.2% BUZZ-Rallies on FDA approval for acne treatment ** Box Inc BOX.N: up 7.1% BUZZ-Rises after co raises annual revenue forecast ** Abbott Laboratories ABT.N: up 6.8% BUZZ-Abbott shares hit record high on U.S. authorization for COVID-19 test ** Tencent Music Entertainment TME.N: down 0.2% BUZZ-Falls on $800 mln notes offering ** Coty Inc COTY.N: down 5.6% BUZZ-Falls after Q4 results disappoint ** Sandridge Permian Trust PER.N: up 54.7% BUZZ-Surges as PEDEVCO shows takeover interest ** Pluristem Therapeutics Inc PSTI.O: up 4.8% BUZZ-Rises as FDA clears expanded access program for its COVID-19 therapy ** RedHill Biopharma Ltd RDHL.O: up 3.5% BUZZ-Rises after safety panel allows COVID-19 treatment study to continue ** Tiffany & Co TIF.N: up 2.2% BUZZ-Shares rise on profit beat, upbeat demand outlook ** ReneSola Ltd SOL.N: up 4.9% BUZZ-Surges after Q2 revenue nearly doubles ** Moxian Inc MOXC.O: up 8.6% BUZZ-Jumps after Btab acquisition ** Boeing Co BA.N: up 2.3% BUZZ-Rises as Europe regulator to start 737 MAX tests in September ** ViacomCBS VIAC.O: up 0.8% BUZZ-Wells Fargo upgrades to 'Equal Weight' on DTC potential ** Abercrombie & Fitch ANF.N: up 17.2% BUZZ-Jumps as online boost, cost cuts drive surprise profit ** VBI Vaccines VBIV.O: up 44.2% BUZZ-Up as Raymond James says co might have "best COVID-19 vaccine" ** Veoneer Inc VNE.N: up 16.3% BUZZ-Surges on autonomous driving tie-up with Qualcomm ** Laboratory Corporation of America Holdings LH.N: down 2.1% ** Quidel Corp QDEL.O: down 35.4% BUZZ-Labs pressured as Abbott to market $5 rapid COVID-19 test ** Sanderson Farms Inc SAFM.O: up 6.4% BUZZ-Rises as retail demand spurs solid Q3 beat ** 1-800-Flowers.Com FLWS.O: up 3.5% BUZZ-Rises on Q4 earnings beat ** Microsoft Corp MSFT.O: up 3.5% BUZZ-Rises as report suggests TikTok deal imminent ** Beyond Meat Inc BYND.O: up 10.0% BUZZ-Sizzles after starting direct online sales of products ** Peloton Interactive Inc PTON.O: up 4.2% BUZZ-Rises as Goldman Sachs hikes PT to Street high ** Electronic Arts Inc EA.O: down 1.1% BUZZ-EA down as rival Epic Games launches latest version of "Fortnite" 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 The S&P 500 and the Nasdaq rose to record highs on Thursday as the Federal Reserve sought to achieve inflation averaging 2% over time in an attempt to lift the U.S. economy out of a deep pandemic-driven recession. down 0.05% (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Live Nation Entertainment Inc , up 9.5% ** Abbott Laboratories , up 6.9% ** Norwegian Cruise Line Holdings Ltd , up 6.6% The top three S&P 500 .PL.INX percentage losers: ** Quest Diagnostics Inc , down 6.7% ** Hologic Inc , down 6.1% ** Coty Inc , down 5.7% The top three NYSE .PG.N percentage gainers: ** Amc Entertainment Holdings Inc , up 18.9% ** Abercrombie & Fitch Co , up 17.2% ** Veoneer Inc , up 16.4% The top three NYSE .PL.N percentage losers: ** Laix Inc , down 16.2% ** Lannett Company Inc , down 15.5% ** Garret Motion Inc , down 13% The top three Nasdaq .PG.O percentage gainers: ** Vbi Vaccines Inc , up 44.2% ** Sunpower Corp , up 26.9% ** Rekor Systems Inc , up 21.2% The top three Nasdaq .PL.O percentage losers: ** Maxeon Solar Technologies Ltd , down 59.8% ** Quidel Corp , down 35.4% ** Fluidigm Corp , down 33.3% ** Cassiopea SpA SKIN.S: up 15.2% BUZZ-Rallies on FDA approval for acne treatment ** Box Inc BOX.N: up 7.1% BUZZ-Rises after co raises annual revenue forecast ** Abbott Laboratories ABT.N: up 6.8% BUZZ-Abbott shares hit record high on U.S. authorization for COVID-19 test ** Tencent Music Entertainment TME.N: down 0.2% BUZZ-Falls on $800 mln notes offering ** Coty Inc COTY.N: down 5.6% BUZZ-Falls after Q4 results disappoint ** Sandridge Permian Trust PER.N: up 54.7% BUZZ-Surges as PEDEVCO shows takeover interest ** Pluristem Therapeutics Inc PSTI.O: up 4.8% BUZZ-Rises as FDA clears expanded access program for its COVID-19 therapy ** RedHill Biopharma Ltd RDHL.O: up 3.5% BUZZ-Rises after safety panel allows COVID-19 treatment study to continue ** Tiffany & Co TIF.N: up 2.2% BUZZ-Shares rise on profit beat, upbeat demand outlook ** ReneSola Ltd SOL.N: up 4.9% BUZZ-Surges after Q2 revenue nearly doubles ** Moxian Inc MOXC.O: up 8.6% BUZZ-Jumps after Btab acquisition ** Boeing Co BA.N: up 2.3% BUZZ-Rises as Europe regulator to start 737 MAX tests in September ** ViacomCBS VIAC.O: up 0.8% BUZZ-Wells Fargo upgrades to 'Equal Weight' on DTC potential ** Abercrombie & Fitch ANF.N: up 17.2% BUZZ-Jumps as online boost, cost cuts drive surprise profit ** VBI Vaccines VBIV.O: up 44.2% BUZZ-Up as Raymond James says co might have "best COVID-19 vaccine" ** Veoneer Inc VNE.N: up 16.3% BUZZ-Surges on autonomous driving tie-up with Qualcomm ** Laboratory Corporation of America Holdings LH.N: down 2.1% ** Quidel Corp QDEL.O: down 35.4% BUZZ-Labs pressured as Abbott to market $5 rapid COVID-19 test ** Sanderson Farms Inc SAFM.O: up 6.4% BUZZ-Rises as retail demand spurs solid Q3 beat ** 1-800-Flowers.Com FLWS.O: up 3.5% BUZZ-Rises on Q4 earnings beat ** Microsoft Corp MSFT.O: up 3.5% BUZZ-Rises as report suggests TikTok deal imminent ** Beyond Meat Inc BYND.O: up 10.0% BUZZ-Sizzles after starting direct online sales of products ** Peloton Interactive Inc PTON.O: up 4.2% BUZZ-Rises as Goldman Sachs hikes PT to Street high ** Electronic Arts Inc EA.O: down 1.1% BUZZ-EA down as rival Epic Games launches latest version of "Fortnite" 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 The S&P 500 and the Nasdaq rose to record highs on Thursday as the Federal Reserve sought to achieve inflation averaging 2% over time in an attempt to lift the U.S. economy out of a deep pandemic-driven recession. ET, the Dow Jones Industrial Average .DJI was up 0.73% at 28,537.88. | The top three S&P 500 .PG.INX percentage gainers: ** Live Nation Entertainment Inc , up 9.5% ** Abbott Laboratories , up 6.9% ** Norwegian Cruise Line Holdings Ltd , up 6.6% The top three S&P 500 .PL.INX percentage losers: ** Quest Diagnostics Inc , down 6.7% ** Hologic Inc , down 6.1% ** Coty Inc , down 5.7% The top three NYSE .PG.N percentage gainers: ** Amc Entertainment Holdings Inc , up 18.9% ** Abercrombie & Fitch Co , up 17.2% ** Veoneer Inc , up 16.4% The top three NYSE .PL.N percentage losers: ** Laix Inc , down 16.2% ** Lannett Company Inc , down 15.5% ** Garret Motion Inc , down 13% The top three Nasdaq .PG.O percentage gainers: ** Vbi Vaccines Inc , up 44.2% ** Sunpower Corp , up 26.9% ** Rekor Systems Inc , up 21.2% The top three Nasdaq .PL.O percentage losers: ** Maxeon Solar Technologies Ltd , down 59.8% ** Quidel Corp , down 35.4% ** Fluidigm Corp , down 33.3% ** Cassiopea SpA SKIN.S: up 15.2% BUZZ-Rallies on FDA approval for acne treatment ** Box Inc BOX.N: up 7.1% BUZZ-Rises after co raises annual revenue forecast ** Abbott Laboratories ABT.N: up 6.8% BUZZ-Abbott shares hit record high on U.S. authorization for COVID-19 test ** Tencent Music Entertainment TME.N: down 0.2% BUZZ-Falls on $800 mln notes offering ** Coty Inc COTY.N: down 5.6% BUZZ-Falls after Q4 results disappoint ** Sandridge Permian Trust PER.N: up 54.7% BUZZ-Surges as PEDEVCO shows takeover interest ** Pluristem Therapeutics Inc PSTI.O: up 4.8% BUZZ-Rises as FDA clears expanded access program for its COVID-19 therapy ** RedHill Biopharma Ltd RDHL.O: up 3.5% BUZZ-Rises after safety panel allows COVID-19 treatment study to continue ** Tiffany & Co TIF.N: up 2.2% BUZZ-Shares rise on profit beat, upbeat demand outlook ** ReneSola Ltd SOL.N: up 4.9% BUZZ-Surges after Q2 revenue nearly doubles ** Moxian Inc MOXC.O: up 8.6% BUZZ-Jumps after Btab acquisition ** Boeing Co BA.N: up 2.3% BUZZ-Rises as Europe regulator to start 737 MAX tests in September ** ViacomCBS VIAC.O: up 0.8% BUZZ-Wells Fargo upgrades to 'Equal Weight' on DTC potential ** Abercrombie & Fitch ANF.N: up 17.2% BUZZ-Jumps as online boost, cost cuts drive surprise profit ** VBI Vaccines VBIV.O: up 44.2% BUZZ-Up as Raymond James says co might have "best COVID-19 vaccine" ** Veoneer Inc VNE.N: up 16.3% BUZZ-Surges on autonomous driving tie-up with Qualcomm ** Laboratory Corporation of America Holdings LH.N: down 2.1% ** Quidel Corp QDEL.O: down 35.4% BUZZ-Labs pressured as Abbott to market $5 rapid COVID-19 test ** Sanderson Farms Inc SAFM.O: up 6.4% BUZZ-Rises as retail demand spurs solid Q3 beat ** 1-800-Flowers.Com FLWS.O: up 3.5% BUZZ-Rises on Q4 earnings beat ** Microsoft Corp MSFT.O: up 3.5% BUZZ-Rises as report suggests TikTok deal imminent ** Beyond Meat Inc BYND.O: up 10.0% BUZZ-Sizzles after starting direct online sales of products ** Peloton Interactive Inc PTON.O: up 4.2% BUZZ-Rises as Goldman Sachs hikes PT to Street high ** Electronic Arts Inc EA.O: down 1.1% BUZZ-EA down as rival Epic Games launches latest version of "Fortnite" 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 The S&P 500 and the Nasdaq rose to record highs on Thursday as the Federal Reserve sought to achieve inflation averaging 2% over time in an attempt to lift the U.S. economy out of a deep pandemic-driven recession. down 0.57% Consumer Discretionary | The top three S&P 500 .PG.INX percentage gainers: ** Live Nation Entertainment Inc , up 9.5% ** Abbott Laboratories , up 6.9% ** Norwegian Cruise Line Holdings Ltd , up 6.6% The top three S&P 500 .PL.INX percentage losers: ** Quest Diagnostics Inc , down 6.7% ** Hologic Inc , down 6.1% ** Coty Inc , down 5.7% The top three NYSE .PG.N percentage gainers: ** Amc Entertainment Holdings Inc , up 18.9% ** Abercrombie & Fitch Co , up 17.2% ** Veoneer Inc , up 16.4% The top three NYSE .PL.N percentage losers: ** Laix Inc , down 16.2% ** Lannett Company Inc , down 15.5% ** Garret Motion Inc , down 13% The top three Nasdaq .PG.O percentage gainers: ** Vbi Vaccines Inc , up 44.2% ** Sunpower Corp , up 26.9% ** Rekor Systems Inc , up 21.2% The top three Nasdaq .PL.O percentage losers: ** Maxeon Solar Technologies Ltd , down 59.8% ** Quidel Corp , down 35.4% ** Fluidigm Corp , down 33.3% ** Cassiopea SpA SKIN.S: up 15.2% BUZZ-Rallies on FDA approval for acne treatment ** Box Inc BOX.N: up 7.1% BUZZ-Rises after co raises annual revenue forecast ** Abbott Laboratories ABT.N: up 6.8% BUZZ-Abbott shares hit record high on U.S. authorization for COVID-19 test ** Tencent Music Entertainment TME.N: down 0.2% BUZZ-Falls on $800 mln notes offering ** Coty Inc COTY.N: down 5.6% BUZZ-Falls after Q4 results disappoint ** Sandridge Permian Trust PER.N: up 54.7% BUZZ-Surges as PEDEVCO shows takeover interest ** Pluristem Therapeutics Inc PSTI.O: up 4.8% BUZZ-Rises as FDA clears expanded access program for its COVID-19 therapy ** RedHill Biopharma Ltd RDHL.O: up 3.5% BUZZ-Rises after safety panel allows COVID-19 treatment study to continue ** Tiffany & Co TIF.N: up 2.2% BUZZ-Shares rise on profit beat, upbeat demand outlook ** ReneSola Ltd SOL.N: up 4.9% BUZZ-Surges after Q2 revenue nearly doubles ** Moxian Inc MOXC.O: up 8.6% BUZZ-Jumps after Btab acquisition ** Boeing Co BA.N: up 2.3% BUZZ-Rises as Europe regulator to start 737 MAX tests in September ** ViacomCBS VIAC.O: up 0.8% BUZZ-Wells Fargo upgrades to 'Equal Weight' on DTC potential ** Abercrombie & Fitch ANF.N: up 17.2% BUZZ-Jumps as online boost, cost cuts drive surprise profit ** VBI Vaccines VBIV.O: up 44.2% BUZZ-Up as Raymond James says co might have "best COVID-19 vaccine" ** Veoneer Inc VNE.N: up 16.3% BUZZ-Surges on autonomous driving tie-up with Qualcomm ** Laboratory Corporation of America Holdings LH.N: down 2.1% ** Quidel Corp QDEL.O: down 35.4% BUZZ-Labs pressured as Abbott to market $5 rapid COVID-19 test ** Sanderson Farms Inc SAFM.O: up 6.4% BUZZ-Rises as retail demand spurs solid Q3 beat ** 1-800-Flowers.Com FLWS.O: up 3.5% BUZZ-Rises on Q4 earnings beat ** Microsoft Corp MSFT.O: up 3.5% BUZZ-Rises as report suggests TikTok deal imminent ** Beyond Meat Inc BYND.O: up 10.0% BUZZ-Sizzles after starting direct online sales of products ** Peloton Interactive Inc PTON.O: up 4.2% BUZZ-Rises as Goldman Sachs hikes PT to Street high ** Electronic Arts Inc EA.O: down 1.1% BUZZ-EA down as rival Epic Games launches latest version of "Fortnite" 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 The S&P 500 and the Nasdaq rose to record highs on Thursday as the Federal Reserve sought to achieve inflation averaging 2% over time in an attempt to lift the U.S. economy out of a deep pandemic-driven recession. ET, the Dow Jones Industrial Average .DJI was up 0.73% at 28,537.88. |
32505.0 | 2020-08-27 00:00:00 UTC | Fed Lifts Stock Markets; Abbott's $5 Quick Test Gives Travel Stocks Big Gains | ABT | https://www.nasdaq.com/articles/fed-lifts-stock-markets-abbotts-%245-quick-test-gives-travel-stocks-big-gains-2020-08-27 | nan | nan | The stock market has been extremely optimistic about the prospects for a quick end to the COVID-19 pandemic, and nearly every sign of potential success in moving forward with greater prevention or evaluation of the disease gets a favorable reception from market participants. That was definitely the case on Thursday morning, and helpful comments from the Federal Reserve also helped boost spirits on Wall Street. Shortly before 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 265 points to 28,597. The S&P 500 (SNPINDEX: ^GSPC) picked up 18 points to 3,497, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 32 points to 11,697.
The Fed's announcement that it will be willing to accept slightly higher inflation rates gave investors more confidence that the central bank won't do anything to pull away accommodative monetary policy measures anytime soon. Meanwhile, news of a $5 COVID-19 test from Abbott Laboratories (NYSE: ABT) helped boost not only the healthcare company's stock but also shares of travel companies that are relying on a permanent coronavirus solution sooner rather than later.
Image source: Getty Images.
Testing in progress
Shares of Abbott Labs were higher by 7% Thursday morning. The company got good news from regulators in its efforts to combat the impacts of the coronavirus crisis.
Abbott has developed a COVID-19 test that is inexpensive and fast. The BinaxNOW COVID-19 Ag Card test generates results in just 15 minutes. It also comes with an attractive price tag of $5 per sample to evaluate.
This morning, Abbott found out that the U.S. Food and Drug Administration had given it emergency use authorization to make its tests available for use. That's great news for medical professionals in the field, because the test doesn't take sophisticated equipment in order to evaluate the results.
With error rates in the 1.5% to 2.9% range, BinaxNOW won't solve all of the problems caused by uncertainty about COVID-19 exposure and transmission. Nevertheless, the cost-effective measure will be a valuable asset in an environment in which reliable testing has been hard to come by.
Airlines ascend, cruise stocks set sail
The travel industry in particular stands to benefit from quick testing, as it would help companies evaluate passenger health in ways that would be practical even under normal operating conditions. That sent shares of United Airlines Holdings (NASDAQ: UAL) up more than 6% early Thursday, and other airlines also saw solid gains.
Meanwhile, cruise ship operators saw even more significant gains in their stocks. Norwegian Cruise Line Holdings (NYSE: NCLH) picked up nearly 8%, with peers seeing only slightly more modest advances.
Requiring a 15-minute test before setting sail would be a small price to pay for cruise ship passengers embarking on a weeklong voyage, but it would put both ship personnel and travelers much more at ease about their health and safety. It's less clear whether incorporating a COVID-19 test into the TSA screening process at airports or the aircraft boarding process at gates would be quite as manageable. Having the tests available, though, opens up options that airlines and cruise operators haven't been able to consider before.
Not knowing how long the COVID-19 pandemic will last has been a big burden on airline stocks and cruise operators. If companies can take advantage of medical advances to incorporate into their own safety protocols, it could help them turn the corner from the worst of the coronavirus crisis more quickly.
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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. | Meanwhile, news of a $5 COVID-19 test from Abbott Laboratories (NYSE: ABT) helped boost not only the healthcare company's stock but also shares of travel companies that are relying on a permanent coronavirus solution sooner rather than later. The Fed's announcement that it will be willing to accept slightly higher inflation rates gave investors more confidence that the central bank won't do anything to pull away accommodative monetary policy measures anytime soon. Airlines ascend, cruise stocks set sail The travel industry in particular stands to benefit from quick testing, as it would help companies evaluate passenger health in ways that would be practical even under normal operating conditions. | Meanwhile, news of a $5 COVID-19 test from Abbott Laboratories (NYSE: ABT) helped boost not only the healthcare company's stock but also shares of travel companies that are relying on a permanent coronavirus solution sooner rather than later. Airlines ascend, cruise stocks set sail The travel industry in particular stands to benefit from quick testing, as it would help companies evaluate passenger health in ways that would be practical even under normal operating conditions. Requiring a 15-minute test before setting sail would be a small price to pay for cruise ship passengers embarking on a weeklong voyage, but it would put both ship personnel and travelers much more at ease about their health and safety. | Meanwhile, news of a $5 COVID-19 test from Abbott Laboratories (NYSE: ABT) helped boost not only the healthcare company's stock but also shares of travel companies that are relying on a permanent coronavirus solution sooner rather than later. Airlines ascend, cruise stocks set sail The travel industry in particular stands to benefit from quick testing, as it would help companies evaluate passenger health in ways that would be practical even under normal operating conditions. See the 10 stocks *Stock Advisor returns as of August 1, 2020 Dan Caplinger has no position in any of the stocks mentioned. | Meanwhile, news of a $5 COVID-19 test from Abbott Laboratories (NYSE: ABT) helped boost not only the healthcare company's stock but also shares of travel companies that are relying on a permanent coronavirus solution sooner rather than later. Testing in progress Shares of Abbott Labs were higher by 7% Thursday morning. Meanwhile, cruise ship operators saw even more significant gains in their stocks. |
32506.0 | 2020-08-27 00:00:00 UTC | iShares S&P 500 Growth ETF Experiences Big Outflow | ABT | https://www.nasdaq.com/articles/ishares-sp-500-growth-etf-experiences-big-outflow-2020-08-27 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares S&P 500 Growth ETF (Symbol: IVW) where we have detected an approximate $60.5 million dollar outflow -- that's a 0.2% decrease week over week (from 131,700,000 to 131,450,000). Among the largest underlying components of IVW, in trading today Facebook Inc (Symbol: FB) is off about 1.4%, Abbott Laboratories (Symbol: ABT) is up about 7.6%, and Advanced Micro Devices Inc (Symbol: AMD) is lower by about 0.8%. For a complete list of holdings, visit the IVW Holdings page » The chart below shows the one year price performance of IVW, versus its 200 day moving average:
Looking at the chart above, IVW's low point in its 52 week range is $140.84 per share, with $242.89 as the 52 week high point — that compares with a last trade of $242.46. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of IVW, in trading today Facebook Inc (Symbol: FB) is off about 1.4%, Abbott Laboratories (Symbol: ABT) is up about 7.6%, and Advanced Micro Devices Inc (Symbol: AMD) is lower by about 0.8%. For a complete list of holdings, visit the IVW Holdings page » The chart below shows the one year price performance of IVW, versus its 200 day moving average: Looking at the chart above, IVW's low point in its 52 week range is $140.84 per share, with $242.89 as the 52 week high point — that compares with a last trade of $242.46. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of IVW, in trading today Facebook Inc (Symbol: FB) is off about 1.4%, Abbott Laboratories (Symbol: ABT) is up about 7.6%, and Advanced Micro Devices Inc (Symbol: AMD) is lower by about 0.8%. For a complete list of holdings, visit the IVW Holdings page » The chart below shows the one year price performance of IVW, versus its 200 day moving average: Looking at the chart above, IVW's low point in its 52 week range is $140.84 per share, with $242.89 as the 52 week high point — that compares with a last trade of $242.46. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). | Among the largest underlying components of IVW, in trading today Facebook Inc (Symbol: FB) is off about 1.4%, Abbott Laboratories (Symbol: ABT) is up about 7.6%, and Advanced Micro Devices Inc (Symbol: AMD) is lower by about 0.8%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares S&P 500 Growth ETF (Symbol: IVW) where we have detected an approximate $60.5 million dollar outflow -- that's a 0.2% decrease week over week (from 131,700,000 to 131,450,000). For a complete list of holdings, visit the IVW Holdings page » The chart below shows the one year price performance of IVW, versus its 200 day moving average: Looking at the chart above, IVW's low point in its 52 week range is $140.84 per share, with $242.89 as the 52 week high point — that compares with a last trade of $242.46. | Among the largest underlying components of IVW, in trading today Facebook Inc (Symbol: FB) is off about 1.4%, Abbott Laboratories (Symbol: ABT) is up about 7.6%, and Advanced Micro Devices Inc (Symbol: AMD) is lower by about 0.8%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares S&P 500 Growth ETF (Symbol: IVW) where we have detected an approximate $60.5 million dollar outflow -- that's a 0.2% decrease week over week (from 131,700,000 to 131,450,000). For a complete list of holdings, visit the IVW Holdings page » The chart below shows the one year price performance of IVW, versus its 200 day moving average: Looking at the chart above, IVW's low point in its 52 week range is $140.84 per share, with $242.89 as the 52 week high point — that compares with a last trade of $242.46. |
32507.0 | 2020-08-27 00:00:00 UTC | Fed's inflation push lifts S&P 500, Nasdaq to new highs | ABT | https://www.nasdaq.com/articles/feds-inflation-push-lifts-sp-500-nasdaq-to-new-highs-2020-08-27 | nan | nan | By Medha Singh and Devik Jain
Aug 27 (Reuters) - The S&P 500 and the Nasdaq rose to record highs on Thursday as the Federal Reserve sought to achieve inflation averaging 2% over time in an attempt to lift the U.S. economy out of a deep pandemic-driven recession.
Setting out the central bank's aggressive new strategy at a virtual Jackson Hole symposium, Fed chief Jerome Powell said it would offset below-2% periods with higher inflation "for some time," and ensure employment doesn't fall short of its maximum level.
Eight of the 11 major S&P sectors were trading higher, with economically-sensitive financials .SPSY leading gains. The communication services index .SPLRCL, which houses Google-parent Alphabet Inc GOOGL.O and Facebook Inc FB.O, fell for the first time in four days.
"The strategy should be positive in the short term as it could reduce the potential for interest rate hikes," said Nancy Davis, chief investment officer at Quadratic Capital Management LLC in Greenwich, Connecticut.
"At the same time, the statement acknowledges that Fed 'has less scope to support the economy during a downturn by simply cutting the federal funds rate'."
The S&P 500 and the Nasdaq have recovered their coronavirus-driven losses, largely driven by a tech-related rally at a time when the U.S. economy is struggling with its worst downturn since the Great Depression.
Data on Thursday showed weekly jobless claims hovered around 1 million last week, suggesting the labor market recovery was stalling.
At 10:52 a.m. ET, the Dow Jones Industrial Average .DJI was up 255.59 points, or 0.90%, at 28,587.51, on course to turn positive on the year for the first time since the coronavirus-driven crash in March.
The S&P 500 .SPX was up 15.09 points, or 0.43%, at 3,493.82, and the Nasdaq Composite .IXIC was up 10.94 points, or 0.09%, at 11,676.00.
Boeing Co BA.N rose 3.1% after the European Union Aviation Safety Agency announced plans to begin flight tests of its 737 MAX plane, a move viewed as a key milestone toward its return to service.
Abbott Laboratories ABT.N surged 6.6% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test.
Cosmetics maker Coty Inc COTY.N shed 5.5% after posting a bigger-than-expected quarterly loss as demand for its beauty products took a hit from the closure of stores and parlors.
Advancing issues outnumbered decliners 1.36-to-1 on the NYSE, while declining issues outnumbered advancers 1.07-to-1 on the Nasdaq.
The S&P index recorded 34 new 52-week highs and no new low, while the Nasdaq recorded 52 new highs and 10 new lows.
(Reporting by Medha Singh and Devik Jain in Bengaluru; Editing by Saumyadeb Chakrabarty, Sagarika Jaisinghani and Arun Koyyur)
((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6749 1130; 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 surged 6.6% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test. By Medha Singh and Devik Jain Aug 27 (Reuters) - The S&P 500 and the Nasdaq rose to record highs on Thursday as the Federal Reserve sought to achieve inflation averaging 2% over time in an attempt to lift the U.S. economy out of a deep pandemic-driven recession. Setting out the central bank's aggressive new strategy at a virtual Jackson Hole symposium, Fed chief Jerome Powell said it would offset below-2% periods with higher inflation "for some time," and ensure employment doesn't fall short of its maximum level. | Abbott Laboratories ABT.N surged 6.6% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test. By Medha Singh and Devik Jain Aug 27 (Reuters) - The S&P 500 and the Nasdaq rose to record highs on Thursday as the Federal Reserve sought to achieve inflation averaging 2% over time in an attempt to lift the U.S. economy out of a deep pandemic-driven recession. Advancing issues outnumbered decliners 1.36-to-1 on the NYSE, while declining issues outnumbered advancers 1.07-to-1 on the Nasdaq. | Abbott Laboratories ABT.N surged 6.6% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test. By Medha Singh and Devik Jain Aug 27 (Reuters) - The S&P 500 and the Nasdaq rose to record highs on Thursday as the Federal Reserve sought to achieve inflation averaging 2% over time in an attempt to lift the U.S. economy out of a deep pandemic-driven recession. Setting out the central bank's aggressive new strategy at a virtual Jackson Hole symposium, Fed chief Jerome Powell said it would offset below-2% periods with higher inflation "for some time," and ensure employment doesn't fall short of its maximum level. | Abbott Laboratories ABT.N surged 6.6% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test. By Medha Singh and Devik Jain Aug 27 (Reuters) - The S&P 500 and the Nasdaq rose to record highs on Thursday as the Federal Reserve sought to achieve inflation averaging 2% over time in an attempt to lift the U.S. economy out of a deep pandemic-driven recession. Setting out the central bank's aggressive new strategy at a virtual Jackson Hole symposium, Fed chief Jerome Powell said it would offset below-2% periods with higher inflation "for some time," and ensure employment doesn't fall short of its maximum level. |
32508.0 | 2020-08-27 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Coty Inc, Sandridge Permian, ReneSola Ltd, Moxian Inc | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-coty-inc-sandridge-permian-renesola-ltd-moxian-inc-2020-08-27 | 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 fell on Thursday as weekly jobless claims hovered near the 1 million mark, while investors waited to hear from Jerome Powell on the Federal Reserve's approach to lifting the economy out of a pandemic-led recession. .N
At 8:30 a.m. ET, Dow e-minis 1YMc1 were down 0.11% at 28,282. S&P 500 e-minis ESc1 were down 0.19% at 3,473.75, while Nasdaq 100 e-minis NQc1 were down 0.24% at 11,962.25. The top three NYSE percentage gainers premarket .PRPG.NQ: ** SandRidge Permian Trust , up 51.1% ** Veoneer Inc , up 17.7% ** Renesola Ltd , up 15.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** Ryerson Holding Corp , down 32.2% ** Shft4 Payments Inc , down 7.5% ** Williams-Sonoma Inc , down 7.4% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Moxian Inc , up 65.2% ** Greenvision Acquisition Corp , up 62.9% ** Vbi Vaccines Inc , up 34.9% The top three Nasdaq percentage losers premarket .PRPL.O: ** Kaixin Auto Holdings , down 38.7% ** SpringWorks Therapeutics Inc , down 23.8% ** Cocrystal Pharma Inc , down 23.5% ** Cassiopea SpA SKIN.S: up 17.8% premarket BUZZ-Rallies on FDA approval for acne treatment ** Box Inc BOX.N: up 10.2% premarket BUZZ-Rises after co raises annual revenue forecast ** Abbott Laboratories ABT.N: up 7.9% premarket BUZZ-Set to touch record high on U.S. authorization for COVID-19 test ** Tencent Music Entertainment TME.N: down 0.6% premarket BUZZ-Falls on $800 mln notes offering ** Coty Inc COTY.N: down 4.4% premarket BUZZ-Falls after Q4 results disappoint ** Sandridge Permian Trust PER.N: up 51.1% premarket BUZZ-Surges as PEDEVCO shows takeover interest ** Pluristem Therapeutics Inc PSTI.O: up 9.1% premarket BUZZ-Rises as FDA clears expanded access program for its COVID-19 therapy ** RedHill Biopharma Ltd RDHL.O: up 3.5% premarket BUZZ-Rises after safety panel allows COVID-19 treatment study to continue ** Tiffany & Co TIF.N: up 1.6% premarket BUZZ-Shares rise on profit beat, upbeat demand outlook ** ReneSola Ltd SOL.N: up 15.6% premarket BUZZ-Surges after Q2 revenue nearly doubles ** Moxian Inc MOXC.O: up 65.2% premarket BUZZ-Jumps after Btab acquisition ** Boeing Co BA.N: up 0.7% premarket BUZZ-Rises as Europe regulator to start 737 MAX tests in September ** Dollar General Corp DG.N: up 1.1% premarket BUZZ-Up as same-store sales beat expectations ** ViacomCBS VIAC.O: up 0.6% premarket BUZZ-Wells Fargo upgrades to 'Equal Weight' on DTC potential ** Abercrombie & Fitch ANF.N: up 8.7% premarket BUZZ-Jumps as online boost, cost cuts drive surprise profit ** VBI Vaccines VBIV.O: up 34.9% premarket BUZZ-Up as Raymond James says co might have "best COVID-19 vaccine"
(Compiled by Shivani Kumaresan in Bengaluru)
((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** SandRidge Permian Trust , up 51.1% ** Veoneer Inc , up 17.7% ** Renesola Ltd , up 15.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** Ryerson Holding Corp , down 32.2% ** Shft4 Payments Inc , down 7.5% ** Williams-Sonoma Inc , down 7.4% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Moxian Inc , up 65.2% ** Greenvision Acquisition Corp , up 62.9% ** Vbi Vaccines Inc , up 34.9% The top three Nasdaq percentage losers premarket .PRPL.O: ** Kaixin Auto Holdings , down 38.7% ** SpringWorks Therapeutics Inc , down 23.8% ** Cocrystal Pharma Inc , down 23.5% ** Cassiopea SpA SKIN.S: up 17.8% premarket BUZZ-Rallies on FDA approval for acne treatment ** Box Inc BOX.N: up 10.2% premarket BUZZ-Rises after co raises annual revenue forecast ** Abbott Laboratories ABT.N: up 7.9% premarket BUZZ-Set to touch record high on U.S. authorization for COVID-19 test ** Tencent Music Entertainment TME.N: down 0.6% premarket BUZZ-Falls on $800 mln notes offering ** Coty Inc COTY.N: down 4.4% premarket BUZZ-Falls after Q4 results disappoint ** Sandridge Permian Trust PER.N: up 51.1% premarket BUZZ-Surges as PEDEVCO shows takeover interest ** Pluristem Therapeutics Inc PSTI.O: up 9.1% premarket BUZZ-Rises as FDA clears expanded access program for its COVID-19 therapy ** RedHill Biopharma Ltd RDHL.O: up 3.5% premarket BUZZ-Rises after safety panel allows COVID-19 treatment study to continue ** Tiffany & Co TIF.N: up 1.6% premarket BUZZ-Shares rise on profit beat, upbeat demand outlook ** ReneSola Ltd SOL.N: up 15.6% premarket BUZZ-Surges after Q2 revenue nearly doubles ** Moxian Inc MOXC.O: up 65.2% premarket BUZZ-Jumps after Btab acquisition ** Boeing Co BA.N: up 0.7% premarket BUZZ-Rises as Europe regulator to start 737 MAX tests in September ** Dollar General Corp DG.N: up 1.1% premarket BUZZ-Up as same-store sales beat expectations ** ViacomCBS VIAC.O: up 0.6% premarket BUZZ-Wells Fargo upgrades to 'Equal Weight' on DTC potential ** Abercrombie & Fitch ANF.N: up 8.7% premarket BUZZ-Jumps as online boost, cost cuts drive surprise profit ** VBI Vaccines VBIV.O: up 34.9% premarket BUZZ-Up as Raymond James says co might have "best COVID-19 vaccine" (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 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 fell on Thursday as weekly jobless claims hovered near the 1 million mark, while investors waited to hear from Jerome Powell on the Federal Reserve's approach to lifting the economy out of a pandemic-led recession. ET, Dow e-minis 1YMc1 were down 0.11% at 28,282. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** SandRidge Permian Trust , up 51.1% ** Veoneer Inc , up 17.7% ** Renesola Ltd , up 15.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** Ryerson Holding Corp , down 32.2% ** Shft4 Payments Inc , down 7.5% ** Williams-Sonoma Inc , down 7.4% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Moxian Inc , up 65.2% ** Greenvision Acquisition Corp , up 62.9% ** Vbi Vaccines Inc , up 34.9% The top three Nasdaq percentage losers premarket .PRPL.O: ** Kaixin Auto Holdings , down 38.7% ** SpringWorks Therapeutics Inc , down 23.8% ** Cocrystal Pharma Inc , down 23.5% ** Cassiopea SpA SKIN.S: up 17.8% premarket BUZZ-Rallies on FDA approval for acne treatment ** Box Inc BOX.N: up 10.2% premarket BUZZ-Rises after co raises annual revenue forecast ** Abbott Laboratories ABT.N: up 7.9% premarket BUZZ-Set to touch record high on U.S. authorization for COVID-19 test ** Tencent Music Entertainment TME.N: down 0.6% premarket BUZZ-Falls on $800 mln notes offering ** Coty Inc COTY.N: down 4.4% premarket BUZZ-Falls after Q4 results disappoint ** Sandridge Permian Trust PER.N: up 51.1% premarket BUZZ-Surges as PEDEVCO shows takeover interest ** Pluristem Therapeutics Inc PSTI.O: up 9.1% premarket BUZZ-Rises as FDA clears expanded access program for its COVID-19 therapy ** RedHill Biopharma Ltd RDHL.O: up 3.5% premarket BUZZ-Rises after safety panel allows COVID-19 treatment study to continue ** Tiffany & Co TIF.N: up 1.6% premarket BUZZ-Shares rise on profit beat, upbeat demand outlook ** ReneSola Ltd SOL.N: up 15.6% premarket BUZZ-Surges after Q2 revenue nearly doubles ** Moxian Inc MOXC.O: up 65.2% premarket BUZZ-Jumps after Btab acquisition ** Boeing Co BA.N: up 0.7% premarket BUZZ-Rises as Europe regulator to start 737 MAX tests in September ** Dollar General Corp DG.N: up 1.1% premarket BUZZ-Up as same-store sales beat expectations ** ViacomCBS VIAC.O: up 0.6% premarket BUZZ-Wells Fargo upgrades to 'Equal Weight' on DTC potential ** Abercrombie & Fitch ANF.N: up 8.7% premarket BUZZ-Jumps as online boost, cost cuts drive surprise profit ** VBI Vaccines VBIV.O: up 34.9% premarket BUZZ-Up as Raymond James says co might have "best COVID-19 vaccine" (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 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 fell on Thursday as weekly jobless claims hovered near the 1 million mark, while investors waited to hear from Jerome Powell on the Federal Reserve's approach to lifting the economy out of a pandemic-led recession. S&P 500 e-minis ESc1 were down 0.19% at 3,473.75, while Nasdaq 100 e-minis NQc1 were down 0.24% at 11,962.25. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** SandRidge Permian Trust , up 51.1% ** Veoneer Inc , up 17.7% ** Renesola Ltd , up 15.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** Ryerson Holding Corp , down 32.2% ** Shft4 Payments Inc , down 7.5% ** Williams-Sonoma Inc , down 7.4% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Moxian Inc , up 65.2% ** Greenvision Acquisition Corp , up 62.9% ** Vbi Vaccines Inc , up 34.9% The top three Nasdaq percentage losers premarket .PRPL.O: ** Kaixin Auto Holdings , down 38.7% ** SpringWorks Therapeutics Inc , down 23.8% ** Cocrystal Pharma Inc , down 23.5% ** Cassiopea SpA SKIN.S: up 17.8% premarket BUZZ-Rallies on FDA approval for acne treatment ** Box Inc BOX.N: up 10.2% premarket BUZZ-Rises after co raises annual revenue forecast ** Abbott Laboratories ABT.N: up 7.9% premarket BUZZ-Set to touch record high on U.S. authorization for COVID-19 test ** Tencent Music Entertainment TME.N: down 0.6% premarket BUZZ-Falls on $800 mln notes offering ** Coty Inc COTY.N: down 4.4% premarket BUZZ-Falls after Q4 results disappoint ** Sandridge Permian Trust PER.N: up 51.1% premarket BUZZ-Surges as PEDEVCO shows takeover interest ** Pluristem Therapeutics Inc PSTI.O: up 9.1% premarket BUZZ-Rises as FDA clears expanded access program for its COVID-19 therapy ** RedHill Biopharma Ltd RDHL.O: up 3.5% premarket BUZZ-Rises after safety panel allows COVID-19 treatment study to continue ** Tiffany & Co TIF.N: up 1.6% premarket BUZZ-Shares rise on profit beat, upbeat demand outlook ** ReneSola Ltd SOL.N: up 15.6% premarket BUZZ-Surges after Q2 revenue nearly doubles ** Moxian Inc MOXC.O: up 65.2% premarket BUZZ-Jumps after Btab acquisition ** Boeing Co BA.N: up 0.7% premarket BUZZ-Rises as Europe regulator to start 737 MAX tests in September ** Dollar General Corp DG.N: up 1.1% premarket BUZZ-Up as same-store sales beat expectations ** ViacomCBS VIAC.O: up 0.6% premarket BUZZ-Wells Fargo upgrades to 'Equal Weight' on DTC potential ** Abercrombie & Fitch ANF.N: up 8.7% premarket BUZZ-Jumps as online boost, cost cuts drive surprise profit ** VBI Vaccines VBIV.O: up 34.9% premarket BUZZ-Up as Raymond James says co might have "best COVID-19 vaccine" (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 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 fell on Thursday as weekly jobless claims hovered near the 1 million mark, while investors waited to hear from Jerome Powell on the Federal Reserve's approach to lifting the economy out of a pandemic-led recession. S&P 500 e-minis ESc1 were down 0.19% at 3,473.75, while Nasdaq 100 e-minis NQc1 were down 0.24% at 11,962.25. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** SandRidge Permian Trust , up 51.1% ** Veoneer Inc , up 17.7% ** Renesola Ltd , up 15.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** Ryerson Holding Corp , down 32.2% ** Shft4 Payments Inc , down 7.5% ** Williams-Sonoma Inc , down 7.4% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Moxian Inc , up 65.2% ** Greenvision Acquisition Corp , up 62.9% ** Vbi Vaccines Inc , up 34.9% The top three Nasdaq percentage losers premarket .PRPL.O: ** Kaixin Auto Holdings , down 38.7% ** SpringWorks Therapeutics Inc , down 23.8% ** Cocrystal Pharma Inc , down 23.5% ** Cassiopea SpA SKIN.S: up 17.8% premarket BUZZ-Rallies on FDA approval for acne treatment ** Box Inc BOX.N: up 10.2% premarket BUZZ-Rises after co raises annual revenue forecast ** Abbott Laboratories ABT.N: up 7.9% premarket BUZZ-Set to touch record high on U.S. authorization for COVID-19 test ** Tencent Music Entertainment TME.N: down 0.6% premarket BUZZ-Falls on $800 mln notes offering ** Coty Inc COTY.N: down 4.4% premarket BUZZ-Falls after Q4 results disappoint ** Sandridge Permian Trust PER.N: up 51.1% premarket BUZZ-Surges as PEDEVCO shows takeover interest ** Pluristem Therapeutics Inc PSTI.O: up 9.1% premarket BUZZ-Rises as FDA clears expanded access program for its COVID-19 therapy ** RedHill Biopharma Ltd RDHL.O: up 3.5% premarket BUZZ-Rises after safety panel allows COVID-19 treatment study to continue ** Tiffany & Co TIF.N: up 1.6% premarket BUZZ-Shares rise on profit beat, upbeat demand outlook ** ReneSola Ltd SOL.N: up 15.6% premarket BUZZ-Surges after Q2 revenue nearly doubles ** Moxian Inc MOXC.O: up 65.2% premarket BUZZ-Jumps after Btab acquisition ** Boeing Co BA.N: up 0.7% premarket BUZZ-Rises as Europe regulator to start 737 MAX tests in September ** Dollar General Corp DG.N: up 1.1% premarket BUZZ-Up as same-store sales beat expectations ** ViacomCBS VIAC.O: up 0.6% premarket BUZZ-Wells Fargo upgrades to 'Equal Weight' on DTC potential ** Abercrombie & Fitch ANF.N: up 8.7% premarket BUZZ-Jumps as online boost, cost cuts drive surprise profit ** VBI Vaccines VBIV.O: up 34.9% premarket BUZZ-Up as Raymond James says co might have "best COVID-19 vaccine" (Compiled by Shivani Kumaresan in Bengaluru) ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 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 fell on Thursday as weekly jobless claims hovered near the 1 million mark, while investors waited to hear from Jerome Powell on the Federal Reserve's approach to lifting the economy out of a pandemic-led recession. ET, Dow e-minis 1YMc1 were down 0.11% at 28,282. |
32509.0 | 2020-08-27 00:00:00 UTC | Pre-Market Most Active for Aug 27, 2020 : NIO, CLVS, FLDM, ABT, AAL, COTY, QQQ, SQQQ, LI, CCL, NCLH, ANF | ABT | https://www.nasdaq.com/articles/pre-market-most-active-for-aug-27-2020-%3A-nio-clvs-fldm-abt-aal-coty-qqq-sqqq-li-ccl-nclh | nan | nan | The NASDAQ 100 Pre-Market Indicator is down -11.3 to 11,960.64. The total Pre-Market volume is currently 13,203,589 shares traded.
The following are the most active stocks for the pre-market session:
NIO Inc. (NIO) is -0.61 at $19.83, with 4,871,952 shares traded., following a 52-week high recorded in prior regular session.
Clovis Oncology, Inc. (CLVS) is +0.79 at $5.75, with 1,133,068 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Dec 2020. The consensus EPS forecast is $-0.93. As reported in the last short interest update the days to cover for CLVS is 7.827453; this calculation is based on the average trading volume of the stock.
Fluidigm Corporation (FLDM) is -1.55 at $9.88, with 981,289 shares traded., following a 52-week high recorded in prior regular session.
Abbott Laboratories (ABT) is +8.16 at $111.35, with 945,262 shares traded. As reported by Zacks, the current mean recommendation for ABT is in the "buy range".
American Airlines Group, Inc. (AAL) is +0.315 at $13.10, with 833,872 shares traded. AAL's current last sale is 109.17% of the target price of $12.
Coty Inc. (COTY) is -0.16 at $3.69, with 693,877 shares traded. Business Wire Reports: Coty Inc. Reports Fiscal 2020 Fourth Quarter and Full Year Results
Invesco QQQ Trust, Series 1 (QQQ) is -0.13 at $291.83, with 539,484 shares traded., following a 52-week high recorded in prior regular session.
ProShares UltraPro Short QQQ (SQQQ) is +0.03 at $22.03, with 472,498 shares traded., following a 52-week high recorded in prior regular session.
Li Auto Inc. (LI) is -1.62 at $21.76, with 457,068 shares traded., following a 52-week high recorded in prior regular session.
Carnival Corporation (CCL) is +0.27 at $15.55, with 341,141 shares traded. CCL's current last sale is 97.19% of the target price of $16.
Norwegian Cruise Line Holdings Ltd. (NCLH) is +0.32 at $16.04, with 334,543 shares traded. NCLH's current last sale is 100.25% of the target price of $16.
Abercrombie & Fitch Company (ANF) is +1.37 at $12.50, with 327,760 shares traded. GlobeNewswire Reports: Abercrombie & Fitch Co. Reports Second Quarter Results
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 +8.16 at $111.35, with 945,262 shares traded. As reported by Zacks, the current mean recommendation for ABT is in the "buy range". As reported in the last short interest update the days to cover for CLVS is 7.827453; this calculation is based on the average trading volume of the stock. | Abbott Laboratories (ABT) is +8.16 at $111.35, with 945,262 shares traded. As reported by Zacks, the current mean recommendation for ABT is in the "buy range". NIO Inc. (NIO) is -0.61 at $19.83, with 4,871,952 shares traded., following a 52-week high recorded in prior regular session. | Abbott Laboratories (ABT) is +8.16 at $111.35, with 945,262 shares traded. As reported by Zacks, the current mean recommendation for ABT is in the "buy range". NIO Inc. (NIO) is -0.61 at $19.83, with 4,871,952 shares traded., following a 52-week high recorded in prior regular session. | As reported by Zacks, the current mean recommendation for ABT is in the "buy range". Abbott Laboratories (ABT) is +8.16 at $111.35, with 945,262 shares traded. Fluidigm Corporation (FLDM) is -1.55 at $9.88, with 981,289 shares traded., following a 52-week high recorded in prior regular session. |
32510.0 | 2020-08-27 00:00:00 UTC | Trump administration to purchase 150 million Abbott COVID-19 tests for $750 mln | ABT | https://www.nasdaq.com/articles/trump-administration-to-purchase-150-million-abbott-covid-19-tests-for-%24750-mln-2020-08-27 | nan | nan | WASHINGTON, Aug 27 (Reuters) - The Trump administration will purchase 150 million rapid coronavirus tests from Abbott Laboratories ABT.N for about $750 million, a White House spokeswoman said on Thursday.
The portable antigen tests, which can deliver results within 15 minutes and will sell for $5, received emergency use authorization from the U.S. Food and Drug Administration on Wednesday.
The White House confirmed an earlier report from Politico.
The U.S. has more COVID-19 testing than most. So why is it falling so short?https://reut.rs/3b2c1yZ
(Reporting by Jeff Mason; Editing by Dan Grebler)
((jeff.mason@thomsonreuters.com ; On Twitter: https://twitter.com/jeffmason1))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | WASHINGTON, Aug 27 (Reuters) - The Trump administration will purchase 150 million rapid coronavirus tests from Abbott Laboratories ABT.N for about $750 million, a White House spokeswoman said on Thursday. The portable antigen tests, which can deliver results within 15 minutes and will sell for $5, received emergency use authorization from the U.S. Food and Drug Administration on Wednesday. So why is it falling so short?https://reut.rs/3b2c1yZ (Reporting by Jeff Mason; Editing by Dan Grebler) ((jeff.mason@thomsonreuters.com ; On Twitter: https://twitter.com/jeffmason1)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | WASHINGTON, Aug 27 (Reuters) - The Trump administration will purchase 150 million rapid coronavirus tests from Abbott Laboratories ABT.N for about $750 million, a White House spokeswoman said on Thursday. The White House confirmed an earlier report from Politico. So why is it falling so short?https://reut.rs/3b2c1yZ (Reporting by Jeff Mason; Editing by Dan Grebler) ((jeff.mason@thomsonreuters.com ; On Twitter: https://twitter.com/jeffmason1)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | WASHINGTON, Aug 27 (Reuters) - The Trump administration will purchase 150 million rapid coronavirus tests from Abbott Laboratories ABT.N for about $750 million, a White House spokeswoman said on Thursday. The portable antigen tests, which can deliver results within 15 minutes and will sell for $5, received emergency use authorization from the U.S. Food and Drug Administration on Wednesday. So why is it falling so short?https://reut.rs/3b2c1yZ (Reporting by Jeff Mason; Editing by Dan Grebler) ((jeff.mason@thomsonreuters.com ; On Twitter: https://twitter.com/jeffmason1)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | WASHINGTON, Aug 27 (Reuters) - The Trump administration will purchase 150 million rapid coronavirus tests from Abbott Laboratories ABT.N for about $750 million, a White House spokeswoman said on Thursday. The portable antigen tests, which can deliver results within 15 minutes and will sell for $5, received emergency use authorization from the U.S. Food and Drug Administration on Wednesday. The White House confirmed an earlier report from Politico. |
32511.0 | 2020-08-27 00:00:00 UTC | US STOCKS-Futures down ahead of Powell's speech on monetary policy | ABT | https://www.nasdaq.com/articles/us-stocks-futures-down-ahead-of-powells-speech-on-monetary-policy-2020-08-27 | nan | nan | By Medha Singh
Aug 27 (Reuters) - U.S. stock index futures dipped on Thursday as tensions between Washington and Beijing dampened the mood ahead of an address by Federal Reserve Chair Jerome Powell, in which he is expected to take a softer stance on inflation to support a fragile economy.
Powell is likely to make a case for low interest rates and higher inflation in an overhaul of the central bank's policy approach in his remarks at the Jackson Hole symposium, being held virtually this year.
Before his address at 9:10 a.m. EDT (1310 GMT), investors will get a look at the weekly jobless claims report, the most timely U.S. economic indicator, which is expected to have dipped to 1 million for the week ended Aug. 22.
Recent data suggests a wobbly recovery from one of the worst recessions for the U.S. economy since the Great Depression.
Still, the S&P 500 and the Nasdaq have risen for the past five session to new highs, largely driven by investors pouring into heavyweight technology-related stocks.
Trading on Thursday was weighed down by U.S. sanctions on China over military action in the disputed South China Sea.
At 6:16 a.m. ET, Dow e-minis 1YMcv1 were down 84 points, or 0.3%, S&P 500 e-minis EScv1 were down 7.75 points, or 0.22% and Nasdaq 100 e-minis NQcv1 were down 27.25 points, or 0.23%.
Among early movers, NetApp Inc NTAP.O jumped 10.2% in premarket trading after it posted better-than-expected quarterly results, powered by demand for its cloud services.
Abbott Laboratories ABT.N gained 9.2% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test.
Quarterly reports from retailers Abercrombie & Fitch Co ANF.N, Dollar Tree Inc DLTR.O, Dollar General Corp DG.N and cosmetic maker Coty Inc COTY.N were also due premarket.
(Reporting by Medha Singh and Devik Jain in Bengaluru; Editing by Arun Koyyur)
((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6749 1130; 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 gained 9.2% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test. By Medha Singh Aug 27 (Reuters) - U.S. stock index futures dipped on Thursday as tensions between Washington and Beijing dampened the mood ahead of an address by Federal Reserve Chair Jerome Powell, in which he is expected to take a softer stance on inflation to support a fragile economy. Powell is likely to make a case for low interest rates and higher inflation in an overhaul of the central bank's policy approach in his remarks at the Jackson Hole symposium, being held virtually this year. | Abbott Laboratories ABT.N gained 9.2% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test. By Medha Singh Aug 27 (Reuters) - U.S. stock index futures dipped on Thursday as tensions between Washington and Beijing dampened the mood ahead of an address by Federal Reserve Chair Jerome Powell, in which he is expected to take a softer stance on inflation to support a fragile economy. ET, Dow e-minis 1YMcv1 were down 84 points, or 0.3%, S&P 500 e-minis EScv1 were down 7.75 points, or 0.22% and Nasdaq 100 e-minis NQcv1 were down 27.25 points, or 0.23%. | Abbott Laboratories ABT.N gained 9.2% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test. By Medha Singh Aug 27 (Reuters) - U.S. stock index futures dipped on Thursday as tensions between Washington and Beijing dampened the mood ahead of an address by Federal Reserve Chair Jerome Powell, in which he is expected to take a softer stance on inflation to support a fragile economy. ET, Dow e-minis 1YMcv1 were down 84 points, or 0.3%, S&P 500 e-minis EScv1 were down 7.75 points, or 0.22% and Nasdaq 100 e-minis NQcv1 were down 27.25 points, or 0.23%. | Abbott Laboratories ABT.N gained 9.2% after the medical device maker won U.S. marketing authorization for a $5 rapid COVID-19 portable antigen test. By Medha Singh Aug 27 (Reuters) - U.S. stock index futures dipped on Thursday as tensions between Washington and Beijing dampened the mood ahead of an address by Federal Reserve Chair Jerome Powell, in which he is expected to take a softer stance on inflation to support a fragile economy. Powell is likely to make a case for low interest rates and higher inflation in an overhaul of the central bank's policy approach in his remarks at the Jackson Hole symposium, being held virtually this year. |
32512.0 | 2020-08-27 00:00:00 UTC | Pre-market Movers In Healthcare Sector: EYPT, CLVS, ABT, VBIV, LPCN... | ABT | https://www.nasdaq.com/articles/pre-market-movers-in-healthcare-sector%3A-eypt-clvs-abt-vbiv-lpcn...-2020-08-27 | nan | nan | (RTTNews) - What's moving these stocks in the pre-market hours today?
In the Green
1. EyePoint Pharmaceuticals Inc. (EYPT) is up over 31% at $0.74 in pre-market trading Thursday. The company inked a purchase and marketing agreement with Vantage Outsourcing for DEXYCU 9%, a marketed intraocular product for the treatment of postoperative inflammation, on August 24.
2. Clovis Oncology Inc. (CLVS) is up over 22% at $6.09 in pre-market trading today, thanks to FDA approval of Foundation Medicine's FoundationOne Liquid CDx to serve as a companion diagnostic to identify patients who may benefit from treatment with specific FDA-approved targeted therapies, including Clovis' Rubraca. The plasma-based companion diagnostic is expected to be commercially available on Friday, August 28, 2020.
3. VBI Vaccines Inc. (VBIV) is up more than 16% at $3.75 in pre-market hours. Based on data from three preclinical mouse trials, the company has selected two COVID-19 vaccine candidates - VBI-2901 and VBI-2902. The two vaccine candidates are expected to enter into Phase 1/2 human clinical study by this year-end, subject to regulatory approval.
4. Abbott Laboratories (ABT) is up over 9% at $112.80 in pre-market hours. The company's BinaxNOW COVID-19 Ag Card rapid test for detection of COVID-19 infection has secured Emergency Use Authorization from the FDA. This test, which will be sold for $5, delivers results in just 15 minutes with no instrumentation. The company is hoping to ship tens of millions of tests in September, ramping to 50 million tests a month at the beginning of October.
5. CHF Solutions, Inc. (CHFS), a medical device company, is up more than 5% at $0.38 in pre-market hours. On August 21, the company closed an underwritten public offering of units for gross proceeds of about $14.37 million, including the full exercise of the over-allotment option. The units were priced at $0.45 each.
6. Invitae Corporation (NVTA) is up over 4% at $35.55 in pre-market hours. Early this month, the company announced second-quarter results - reporting lower revenue of $46.2 million due to the pandemic compared to $53.5 million in the year-ago period. However, the company said that it continues to see a solid recovery in volume, improvement in its operating leverage, and the ability to improve revenue generation.
In the Red
1. Cocrystal Pharma Inc. (COCP) is down over 24% at $1.03 in pre-market hours, following an increase in the previously announced bought deal, with the underwriter now agreeing to purchase 14.28 million shares at a price to the public of $1.05 per share. The initial size offering was 9.52 million shares. The offering is expected to close on or about August 31, 2020.
2. Hoth Therapeutics Inc. (HOTH) is down over 11% at $2.30 in pre-market trading Thursday. The company has a joint venture with Voltron Therapeutics Inc. that was formed in March of this year, by the name HaloVax, to jointly develop potential product candidates for the prevention of COVID-19. The joint venture has begun preclinical testing of HaloVax Self-Assembling Vaccine against COVID-19.
3. Inovio Pharmaceuticals Inc. (INO) is down over 4% at $12.17 in pre-market hours. The company's COVID-19 DNA vaccine INO-4800 is under a phase I study and positive interim data from the first two cohorts in the trial in the U.S. were reported in June. A phase II/III clinical study of INO-4800 in the U.S. is expected to start in September.
4. Lipocine Inc. (LPCN) is down over 5% at $1.69 in pre-market hours. The company's investigational testosterone replacement therapy Tlando, which has been thrice rejected by the FDA, awaits a decision on August 28, 2020. The regulatory agency had turned down Tlando in June 2016, May 2018, and in November 2019.
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 up over 9% at $112.80 in pre-market hours. On August 21, the company closed an underwritten public offering of units for gross proceeds of about $14.37 million, including the full exercise of the over-allotment option. The company's COVID-19 DNA vaccine INO-4800 is under a phase I study and positive interim data from the first two cohorts in the trial in the U.S. were reported in June. | Abbott Laboratories (ABT) is up over 9% at $112.80 in pre-market hours. On August 21, the company closed an underwritten public offering of units for gross proceeds of about $14.37 million, including the full exercise of the over-allotment option. Early this month, the company announced second-quarter results - reporting lower revenue of $46.2 million due to the pandemic compared to $53.5 million in the year-ago period. | Abbott Laboratories (ABT) is up over 9% at $112.80 in pre-market hours. The company is hoping to ship tens of millions of tests in September, ramping to 50 million tests a month at the beginning of October. On August 21, the company closed an underwritten public offering of units for gross proceeds of about $14.37 million, including the full exercise of the over-allotment option. | Abbott Laboratories (ABT) is up over 9% at $112.80 in pre-market hours. VBI Vaccines Inc. (VBIV) is up more than 16% at $3.75 in pre-market hours. The company is hoping to ship tens of millions of tests in September, ramping to 50 million tests a month at the beginning of October. |
32513.0 | 2020-08-27 00:00:00 UTC | FDA Approves Abbott's $5 COVID-19 Antigen Portable Rapid Test | ABT | https://www.nasdaq.com/articles/fda-approves-abbotts-%245-covid-19-antigen-portable-rapid-test-2020-08-27 | nan | nan | (RTTNews) - Abbott Laboratories said Wednesday that it has received an Emergency Use Authorization from the U.S. Food and Drug Administration for a COVID-19 portable antigen test that will deliver results within 15 minutes. It will be priced at $5.
The company's BinaxNOW COVID-19 Ag Card is about the size of a credit card and requires no additional equipment to operate. It uses lateral flow technology with demonstrated sensitivity of 97.1% and specificity of 98.5% in clinical study.
The device will be an important tool to manage risk by quickly identifying infectious people so they don't spread the disease to others, the company said in a statement.
The company said it will ship tens of millions of tests in September, ramping to 50 million tests a month at the beginning of October.
Abbott also said it will offer a mobile app at no charge that will allow people to display their results obtained through a healthcare provider when entering facilities requiring proof of testing. The app is supported by Apple and Android digital wallets and will be available from public app stores in the U.S.
If test results are negative, the app will display a digital health pass via a QR code, similar to an airline boarding pass. If test results are positive, people will receive a message to quarantine and talk to their doctor, the company said.
The company noted that the digital health pass is stored in the app temporarily and expires after the time period specified by organizations that accept the app.
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 said Wednesday that it has received an Emergency Use Authorization from the U.S. Food and Drug Administration for a COVID-19 portable antigen test that will deliver results within 15 minutes. The device will be an important tool to manage risk by quickly identifying infectious people so they don't spread the disease to others, the company said in a statement. Abbott also said it will offer a mobile app at no charge that will allow people to display their results obtained through a healthcare provider when entering facilities requiring proof of testing. | If test results are negative, the app will display a digital health pass via a QR code, similar to an airline boarding pass. If test results are positive, people will receive a message to quarantine and talk to their doctor, the company said. The company noted that the digital health pass is stored in the app temporarily and expires after the time period specified by organizations that accept the app. | Abbott also said it will offer a mobile app at no charge that will allow people to display their results obtained through a healthcare provider when entering facilities requiring proof of testing. If test results are negative, the app will display a digital health pass via a QR code, similar to an airline boarding pass. The company noted that the digital health pass is stored in the app temporarily and expires after the time period specified by organizations that accept the app. | (RTTNews) - Abbott Laboratories said Wednesday that it has received an Emergency Use Authorization from the U.S. Food and Drug Administration for a COVID-19 portable antigen test that will deliver results within 15 minutes. If test results are negative, the app will display a digital health pass via a QR code, similar to an airline boarding pass. The company noted that the digital health pass is stored in the app temporarily and expires after the time period specified by organizations that accept the app. |
32514.0 | 2020-08-27 00:00:00 UTC | Why Co-Diagnostics, GenMark, Luminex, and Opko Stocks Are Sinking Today | ABT | https://www.nasdaq.com/articles/why-co-diagnostics-genmark-luminex-and-opko-stocks-are-sinking-today-2020-08-27 | nan | nan | What happened
Several stocks of companies that make COVID-19 diagnostic tests were sinking on Thursday following big news from Abbott Laboratories (NYSE: ABT) on Wednesday evening. Abbott announced that it received FDA emergency use authorization (EUA) for a COVID-19 antibody test that costs $5 and provides results within 15 minutes.
Shares of Co-Diagnostics (NASDAQ: CODX) were sliding 11.8% lower as of 11:52 a.m. EDT on Thursday. Luminex (NASDAQ: LMNX) stock was down 11.2%. GenMark Diagnostics (NASDAQ: GNMK) and Opko Health (NASDAQ: OPK) were hit even harder, with their shares falling 16.8% and 20.4%, respectively.
Image source: Getty Images.
So what
COVID-19 diagnostic testing has quickly become a big business in 2020. It has also driven quite a few healthcare stocks a lot higher. Prior to today, Luminex stock was up 28% year to date. Opko's shares had soared nearly 174%. GenMark's share price had more than tripled. Co-Diagnostics has been the biggest winner of this group, with its shares skyrocketing 1,370% so far this year.
In July, Opko attributed its strong Q2 revenue growth primarily to its COVID-19 testing. It was a similar story for Co-Diagnostics, GenMark, and Luminex when they announced their Q2 results earlier this month.
Abbott's new product could disrupt business for all of these companies. Healthcare providers are likely to flock to the company's cheap and quick COVID-19 antibody test. Abbott's competitors could see their coronavirus antibody test sales shrink dramatically.
Now what
There are two big questions looming now. First, how will Co-Diagnostics, GenMark, Luminex, and Opko respond to Abbott's shot across their bows? Second, will more disruption be on the way with a COVID-19 test for diagnosing infection by the novel coronavirus that's as inexpensive and quick as Abbott's antibody test?
Innovation is good. It can also be game-changing. And we're seeing the game now changing in the COVID-19 testing business as a result of Abbott's new product.
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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. | What happened Several stocks of companies that make COVID-19 diagnostic tests were sinking on Thursday following big news from Abbott Laboratories (NYSE: ABT) on Wednesday evening. Abbott announced that it received FDA emergency use authorization (EUA) for a COVID-19 antibody test that costs $5 and provides results within 15 minutes. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and GenMark Diagnostics wasn't one of them! | What happened Several stocks of companies that make COVID-19 diagnostic tests were sinking on Thursday following big news from Abbott Laboratories (NYSE: ABT) on Wednesday evening. GenMark Diagnostics (NASDAQ: GNMK) and Opko Health (NASDAQ: OPK) were hit even harder, with their shares falling 16.8% and 20.4%, respectively. Second, will more disruption be on the way with a COVID-19 test for diagnosing infection by the novel coronavirus that's as inexpensive and quick as Abbott's antibody test? | What happened Several stocks of companies that make COVID-19 diagnostic tests were sinking on Thursday following big news from Abbott Laboratories (NYSE: ABT) on Wednesday evening. 10 stocks we like better than GenMark Diagnostics 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 August 1, 2020 Keith Speights has no position in any of the stocks mentioned. | What happened Several stocks of companies that make COVID-19 diagnostic tests were sinking on Thursday following big news from Abbott Laboratories (NYSE: ABT) on Wednesday evening. Luminex (NASDAQ: LMNX) stock was down 11.2%. So what COVID-19 diagnostic testing has quickly become a big business in 2020. |
32515.0 | 2020-08-26 00:00:00 UTC | Abbott wins U.S. authorization for $5 rapid COVID-19 antigen | ABT | https://www.nasdaq.com/articles/abbott-wins-u.s.-authorization-for-%245-rapid-covid-19-antigen-2020-08-26 | nan | nan | By Carl O'Donnell and Mrinalika Roy
Aug 26 (Reuters) - Abbott Laboratories ABT.N said on Wednesday it won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results within 15 minutes and will sell for $5.
The portable test is about the size of a credit card, requires no additional equipment to operate, and can be conducted using a less invasive nasal swab than traditional lab tests, Abbott executives said on a call with reporters.
Abbott expects to ship tens of millions of tests in September, ramping to 50 million tests a month from the beginning of October.
The test, BinaxNOW COVID-19 Ag Card, could be used to check that people participating in larger gatherings, such as those returning to schools or workplaces, do not have COVID-19 and could help aid the reopening of the U.S., the executives said.
Abbott created a downloadable app that people who have taken the test could present before entering venues to show that they are COVID-19 free, they said.
Antigen tests are cheaper and faster than molecular diagnostic tests but somewhat more likely to fail to identify positive cases of the virus than lab-based diagnostic tests.
The U.S. Food and Drug Administration granted the approval under its emergency use authorization program. Becton Dickinson and Co BDX.N and Quidel Corp QDEL.O already market antigen tests. (https://reut.rs/2QsSyOC)
The United States now has more cases of the coronavirus than any other country at more than 5 million, and hospitals and labs have struggled to meet the demand to test thousands of people.
Since March, the company has got U.S. authorizations for five other coronavirus tests, including one called the ID Now that can deliver results within minutes and is used at the White House.
(Reporting by Mrinalika Roy in Bengaluru; Editing by Shounak Dasgupta and Christopher Cushing)
((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 806749 8325))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Carl O'Donnell and Mrinalika Roy Aug 26 (Reuters) - Abbott Laboratories ABT.N said on Wednesday it won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results within 15 minutes and will sell for $5. The test, BinaxNOW COVID-19 Ag Card, could be used to check that people participating in larger gatherings, such as those returning to schools or workplaces, do not have COVID-19 and could help aid the reopening of the U.S., the executives said. (https://reut.rs/2QsSyOC) The United States now has more cases of the coronavirus than any other country at more than 5 million, and hospitals and labs have struggled to meet the demand to test thousands of people. | By Carl O'Donnell and Mrinalika Roy Aug 26 (Reuters) - Abbott Laboratories ABT.N said on Wednesday it won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results within 15 minutes and will sell for $5. The portable test is about the size of a credit card, requires no additional equipment to operate, and can be conducted using a less invasive nasal swab than traditional lab tests, Abbott executives said on a call with reporters. Becton Dickinson and Co BDX.N and Quidel Corp QDEL.O already market antigen tests. | By Carl O'Donnell and Mrinalika Roy Aug 26 (Reuters) - Abbott Laboratories ABT.N said on Wednesday it won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results within 15 minutes and will sell for $5. The portable test is about the size of a credit card, requires no additional equipment to operate, and can be conducted using a less invasive nasal swab than traditional lab tests, Abbott executives said on a call with reporters. Antigen tests are cheaper and faster than molecular diagnostic tests but somewhat more likely to fail to identify positive cases of the virus than lab-based diagnostic tests. | By Carl O'Donnell and Mrinalika Roy Aug 26 (Reuters) - Abbott Laboratories ABT.N said on Wednesday it won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results within 15 minutes and will sell for $5. The portable test is about the size of a credit card, requires no additional equipment to operate, and can be conducted using a less invasive nasal swab than traditional lab tests, Abbott executives said on a call with reporters. Abbott expects to ship tens of millions of tests in September, ramping to 50 million tests a month from the beginning of October. |
32516.0 | 2020-08-26 00:00:00 UTC | Abbott wins U.S. approval for rapid COVID-19 test | ABT | https://www.nasdaq.com/articles/abbott-wins-u.s.-approval-for-rapid-covid-19-test-2020-08-26 | nan | nan | Aug 26 (Reuters) - Abbott Laboratories ABT.N said on Wednesday it won U.S. marketing approval for a COVID-19 portable test that can deliver results within 15 minutes.
The U.S. Food and Drug Administration granted the approval under its emergency use authorization program. (https://reut.rs/2QsSyOC)
The portable test, BinaxNOW COVID-19 Ag Card, is for use by healthcare professionals at hospitals and labs, and Abbott plans to sell the tests for $5 each.
The United States now has more cases of the coronavirus than any other country, and hospitals and labs have struggled to meet the demand to test thousands of people.
Abbott expects to ship tens of millions of tests in September, ramping to 50 million tests a month from the beginning of October.
Since March, the company has got U.S. authorizations for five coronavirus tests, including one that can deliver results within minutes and is used at the White House.
(Reporting By Mrinalika Roy in Bengaluru; Editing by Shounak Dasgupta)
((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 806749 8325))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aug 26 (Reuters) - Abbott Laboratories ABT.N said on Wednesday it won U.S. marketing approval for a COVID-19 portable test that can deliver results within 15 minutes. The United States now has more cases of the coronavirus than any other country, and hospitals and labs have struggled to meet the demand to test thousands of people. Since March, the company has got U.S. authorizations for five coronavirus tests, including one that can deliver results within minutes and is used at the White House. | Aug 26 (Reuters) - Abbott Laboratories ABT.N said on Wednesday it won U.S. marketing approval for a COVID-19 portable test that can deliver results within 15 minutes. (https://reut.rs/2QsSyOC) The portable test, BinaxNOW COVID-19 Ag Card, is for use by healthcare professionals at hospitals and labs, and Abbott plans to sell the tests for $5 each. Since March, the company has got U.S. authorizations for five coronavirus tests, including one that can deliver results within minutes and is used at the White House. | Aug 26 (Reuters) - Abbott Laboratories ABT.N said on Wednesday it won U.S. marketing approval for a COVID-19 portable test that can deliver results within 15 minutes. (https://reut.rs/2QsSyOC) The portable test, BinaxNOW COVID-19 Ag Card, is for use by healthcare professionals at hospitals and labs, and Abbott plans to sell the tests for $5 each. Abbott expects to ship tens of millions of tests in September, ramping to 50 million tests a month from the beginning of October. | Aug 26 (Reuters) - Abbott Laboratories ABT.N said on Wednesday it won U.S. marketing approval for a COVID-19 portable test that can deliver results within 15 minutes. The U.S. Food and Drug Administration granted the approval under its emergency use authorization program. (https://reut.rs/2QsSyOC) The portable test, BinaxNOW COVID-19 Ag Card, is for use by healthcare professionals at hospitals and labs, and Abbott plans to sell the tests for $5 each. |
32517.0 | 2020-08-25 00:00:00 UTC | Medtronic signals recovery in procedure volumes, profit plunges | ABT | https://www.nasdaq.com/articles/medtronic-signals-recovery-in-procedure-volumes-profit-plunges-2020-08-25 | nan | nan | Adds details on the quarter, share movement
Aug 25 (Reuters) - Medtronic MDT.N said on Tuesday demand for medical devices was improving as elective surgeries picked up pace following the easing of COVID-19 restrictions, while posting a 44% decline in first-quarter profit due to the pandemic.
Several medical device makers, including Abbott Laboratories ABT.N, have said demand for less urgent medical procedures has recovered from the lows experienced in April as coronavirus-induced restrictions eased across the United States.
Medtronic said sales of ventilators more than doubled as production rose to address pandemic needs.
The company's chief executive officer, Geoff Martha, said the medical device maker's results reflect a "faster than expected recovery" from the depths of the pandemic seen back in April.
Net income attributable to the company fell to $487 million, or 36 cents per share, in the first quarter ended July 31, from $864 million, or 64 cents per share, a year earlier.
Excluding items, Medtronic earned 62 cents per share, while revenue fell 13.2% to $6.51 billion.
Shares of the Dublin-based company were up 1.3% at $101.5 before the bell.
(Reporting by Dania Nadeem and Manojna Maddipatla in Bengaluru; Editing by Aditya Soni)
((Dania.Nadeem@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 3463;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Several medical device makers, including Abbott Laboratories ABT.N, have said demand for less urgent medical procedures has recovered from the lows experienced in April as coronavirus-induced restrictions eased across the United States. Adds details on the quarter, share movement Aug 25 (Reuters) - Medtronic MDT.N said on Tuesday demand for medical devices was improving as elective surgeries picked up pace following the easing of COVID-19 restrictions, while posting a 44% decline in first-quarter profit due to the pandemic. The company's chief executive officer, Geoff Martha, said the medical device maker's results reflect a "faster than expected recovery" from the depths of the pandemic seen back in April. | Several medical device makers, including Abbott Laboratories ABT.N, have said demand for less urgent medical procedures has recovered from the lows experienced in April as coronavirus-induced restrictions eased across the United States. The company's chief executive officer, Geoff Martha, said the medical device maker's results reflect a "faster than expected recovery" from the depths of the pandemic seen back in April. Net income attributable to the company fell to $487 million, or 36 cents per share, in the first quarter ended July 31, from $864 million, or 64 cents per share, a year earlier. | Several medical device makers, including Abbott Laboratories ABT.N, have said demand for less urgent medical procedures has recovered from the lows experienced in April as coronavirus-induced restrictions eased across the United States. Adds details on the quarter, share movement Aug 25 (Reuters) - Medtronic MDT.N said on Tuesday demand for medical devices was improving as elective surgeries picked up pace following the easing of COVID-19 restrictions, while posting a 44% decline in first-quarter profit due to the pandemic. The company's chief executive officer, Geoff Martha, said the medical device maker's results reflect a "faster than expected recovery" from the depths of the pandemic seen back in April. | Several medical device makers, including Abbott Laboratories ABT.N, have said demand for less urgent medical procedures has recovered from the lows experienced in April as coronavirus-induced restrictions eased across the United States. Medtronic said sales of ventilators more than doubled as production rose to address pandemic needs. Net income attributable to the company fell to $487 million, or 36 cents per share, in the first quarter ended July 31, from $864 million, or 64 cents per share, a year earlier. |
32518.0 | 2020-08-24 00:00:00 UTC | The 4 Best Dividend Aristocrats to Buy Now | ABT | https://www.nasdaq.com/articles/the-4-best-dividend-aristocrats-to-buy-now-2020-08-24 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
There are 65 so-called “dividend aristocrats,” which is the name given to companies that have managed to increase their dividends for 25 consecutive years. But how would an investor choose the best dividend aristocrats for their portfolio?
After all, dividend aristocrats are established companies that are members of the S&P 500 index. That means they’re large, established firms.
And because qualifying as an aristocrat means increasing the company’s dividend for at least 25 consecutive years, the group is limited to those with minimal cyclical exposure. These stocks have enough strength to manage through the dot-com bust and the financial crisis, let alone the novel coronavirus pandemic.
The combination of index inclusion and dividend increases makes dividend aristocrats attractive names. But in looking at the 65 companies, there’s a fairly obvious split. The dividend aristocrats whose shares are cheap seem cheap for good reason.
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Exxon Mobil (NYSE:XOM), for instance, is struggling with low crude oil prices. AT&T (NYSE:T) and Walgreens Boots Alliance (NASDAQ:WBA) look like yield traps.
Meanwhile, the most attractive businesses have valuation concerns. I’ve long recommended McCormick (NYSE:MKC,NYSE:MKC.V), one of the few large-cap consumer companies with a demographic tailwind. After all, millennials like more spice than their parents.
Yet MKC stock trades at a whopping 36x forward earnings. The likes of Colgate-Palmolive (NYSE:CL) and Procter & Gamble (NYSE:PG) aren’t quite as expensive, but relative earnings are more expensive than they’ve been in years.
Of course, that same split exists in the market as a whole. The best companies look expensive, and the cheapest stocks look risky.
So as far as dividend aristocrats go, it’s worth trying to split the difference to find the best dividend aristocrats to buy. This list has two cheap names and two expensive ones that look particularly attractive at the moment. They are:
Abbott Laboratories (NYSE:ABT)
Ross Stores (NASDAQ:ROST)
PepsiCo (NASDAQ:PEP)
V.F. Corporation (NYSE:VFC)
Best Dividend Aristocrats: Abbott Labs (ABT)
Source: Sundry Photography/Shutterstock.com
Simply put, Abbott Laboratories is one of the world’s great health care companies. The company’s diversified portfolio includes continuous glucose monitoring products, infant nutrition under the Similac brand, testing equipment and medical devices, to name just a few.
It’s been a wonderful business for shareholders. Over the past quarter-century, total returns in ABT stock have cleared 3,000%. (That includes the effect of the 2013 spin-off of AbbVie (NYSE:ABBV). Annualized returns have been an impressive 15%.
It’s likely those returns will slow in the coming decades but they shouldn’t necessarily end. Abbott still has leadership in several key categories. In the U.S., baby boomers should drive demand for years to come. A rising middle class overseas, and better health care, provides additional growth opportunities.
Admittedly, ABT is one of the dividend aristocrats with valuation concerns. The price-earnings multiple has steadily expanded in recent years. At 26x forward earnings, ABT trades at a notable premium to Medtronic (NYSE:MDT), another health care dividend aristocrat I’ve recommended this year.
But Abbott’s positioning in areas like infant nutrition and CGM merit a premium to its medical device rival. And this does seem like the kind of business worth paying up for. Again, investors likely aren’t making 15% a year going forward, but there’s still a path for ABT to outperform the market while providing downside protection if macroeconomic concerns linger.
Ross Stores (ROST)
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Source: Andriy Blokhin / Shutterstock.com
Ross Stores has been one of the worst-performing dividend aristocrats so far this year, declining over 16%. The weakness makes some sense, as Ross is being pressured from two directions.
Obviously, there are very real demand concerns. The market is pricing in a quick and steep shift to e-commerce that will last beyond this pandemic. The likes of Amazon (NASDAQ:AMZN), Overstock (NASDAQ:OSTK), and Wayfair (NYSE:W) have been among 2020’s best-performing stocks. Ross, meanwhile, relies on in-store traffic that may not return even once normalcy does.
But there are also worries about supply. Struggling apparel manufacturers have cut back production — and may continue to do so going forward. There may not be the same amount, or the same quality, of inventory available to Ross and its off-price peers going forward.
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As a result, ROST, despite its hugely impressive history, is not a risk-free investment. But that impressive history isn’t meaningless. Ross and rival TJX Companies (NYSE:TJX) have been two of the greatest retailers of all time.
And with ROST trading at 22x earnings estimates for next year — with those estimates depressed by expectations for lingering pandemic effects — there’s a strong case to bet that Ross will find a way to thrive in the ‘new normal’ as well.
PepsiCo (PEP)
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Source: FotograFFF / Shutterstock.com
PepsiCo doesn’t get the attention of its larger rival, Coca-Cola (NYSE:KO). But with relatively similar valuations — both stocks trade at about 23x forward earnings — PEP stock looks like the better play going forward.
It’s worth noting that PEP has been the far better stock looking backward. Including dividends, it’s returned 183% over the past decade, against 135% for KO.
Both companies have challenges going forward. Diet soda consumption continues to fall. Obesity concerns are pressuring demand for full-calorie products as well. It’s possible that soft drinks simply aren’t a good business going forward, and that eventually PEP and KO will follow the path of Altria (NYSE:MO), which trades near a multi-year low.
But Pepsi has a weapon that Coke doesn’t — an attractive and growing snack business. That business limits the impact of restaurant closures at the moment and provides added growth potential going forward. An earnings multiple of 23x isn’t a cheap price to pay, but Pepsi’s business looks to be worth it.
VF Corporation (VFC)
Source: rblfmr / Shutterstock.com
Apparel and footwear manufacturer VF Corporation has been one of the biggest victims of the pandemic. VF stock has fallen a whopping 37% so far this year. Revenue in the fiscal first quarter (calendar Q2) declined 48% year-over-year.
As with Ross, however, there’s a case that VF should be able to find a way to manage industry changes. Brands like The North Face, Timberland, and Vans still have tremendous value. In-store traffic will return to at least some extent, and VF should be able to drive higher e-commerce sales as well.
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Meanwhile, the VFC stock dividend now clears 3%, and the stock trades at 24x depressed earnings estimates for next year. The market seems to be underestimating the company’s resilience — and the strength of its portfolio.
Vince Martin has covered the financial industry for close to a decade for InvestorPlace.com and other outlets. He has no positions in any securities mentioned.
The post The 4 Best Dividend Aristocrats to Buy Now 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. | At 26x forward earnings, ABT trades at a notable premium to Medtronic (NYSE:MDT), another health care dividend aristocrat I’ve recommended this year. They are: Abbott Laboratories (NYSE:ABT) Ross Stores (NASDAQ:ROST) PepsiCo (NASDAQ:PEP) V.F. Corporation (NYSE:VFC) Best Dividend Aristocrats: Abbott Labs (ABT) Source: Sundry Photography/Shutterstock.com Simply put, Abbott Laboratories is one of the world’s great health care companies. | They are: Abbott Laboratories (NYSE:ABT) Ross Stores (NASDAQ:ROST) PepsiCo (NASDAQ:PEP) V.F. Corporation (NYSE:VFC) Best Dividend Aristocrats: Abbott Labs (ABT) Source: Sundry Photography/Shutterstock.com Simply put, Abbott Laboratories is one of the world’s great health care companies. Over the past quarter-century, total returns in ABT stock have cleared 3,000%. | At 26x forward earnings, ABT trades at a notable premium to Medtronic (NYSE:MDT), another health care dividend aristocrat I’ve recommended this year. They are: Abbott Laboratories (NYSE:ABT) Ross Stores (NASDAQ:ROST) PepsiCo (NASDAQ:PEP) V.F. Corporation (NYSE:VFC) Best Dividend Aristocrats: Abbott Labs (ABT) Source: Sundry Photography/Shutterstock.com Simply put, Abbott Laboratories is one of the world’s great health care companies. | They are: Abbott Laboratories (NYSE:ABT) Ross Stores (NASDAQ:ROST) PepsiCo (NASDAQ:PEP) V.F. Corporation (NYSE:VFC) Best Dividend Aristocrats: Abbott Labs (ABT) Source: Sundry Photography/Shutterstock.com Simply put, Abbott Laboratories is one of the world’s great health care companies. Over the past quarter-century, total returns in ABT stock have cleared 3,000%. |
32519.0 | 2020-08-22 00:00:00 UTC | 3 Stocks to Buy Ahead of a Potential Second Wave of Coronavirus | ABT | https://www.nasdaq.com/articles/3-stocks-to-buy-ahead-of-a-potential-second-wave-of-coronavirus-2020-08-22 | nan | nan | One of the biggest dangers of buying stocks today is that a second wave of coronavirus could lead to more lockdowns and business shutdowns, potentially paving the way for another market crash. It's a serious risk, and one that's at the front of my mind given the S&P 500's recent record highs -- a kind reminder of how expensive stocks are today. That's why it is important to invest in companies that are likely to perform well even amid shutdowns and sharp rises in COVID-19 cases.
Three companies that are doing well during the pandemic and are good buys for worried investors today are Quidel (NASDAQ: QDEL), Logitech (NASDAQ: LOGI), and PayPal (NASDAQ: PYPL). All three stocks will diversify your portfolio and provide a safe place to invest your money if you're worried about a second wave hitting in the fall.
1. Quidel
Quidel's been one of the hotter healthcare stocks in the market this year, more than tripling in value since the beginning of the year. The diagnostics and testing company was put on the map on March 17, when the U.S. Food and Drug Administration (FDA) granted its Lyra SARS-CoV-2 assay rapid test an emergency use authorization (EUA). The FDA also granted Quidel an EUA in May for the Sofia 2 SARS Antigen FIA, a test that can generate results within 15 minutes. And Quidel is not the only investment option for those interested in coronavirus test companies. Abbott Labs, Thermo Fisher Scientific, and Roche are also selling COVID-19 testing products.
Image source: Getty Images.
There are now more than 5.6 million cases of COVID-19 confirmed in the U.S. alone. As that number rises, the need for greater testing capacities will continue to increase. Another surge in cases this fall, if it happens, will further boost demand. The novel coronavirus isn't likely to go away anytime soon, and that makes Quidel a relatively safe investment during the pandemic.
On July 30, the San Diego-based company released its second-quarter results for the period ending June 30. Revenue of $201.8 million during the quarter rose by 86% from the prior year. The company's rapid testing segment, which includes Sofia SARS Antigen, generated sales of $80.6 million, up 270% from last year. And the diagnostic segment containing the Lyra SARS-CoV-2 assays rose by 1,210% year over year to $55.2 million. Other segments of Quidel's business declined between 18% and 20% because other testing services were reduced as a result of the pandemic. However, the declines were not nearly enough to offset the surge in sales from coronavirus-related testing.
2. Logitech
Logitech manufactures a wide array of computer hardware. From mice and keyboards to speakers, headsets, and gaming products, the company provides necessities for anyone who uses a computer. Whether you're an avid gamer or using your computer to work from home, you are likely to have used one of Logitech's products at one point or another. And that's precisely why our work-from-home and stay-at-home culture of the past several months has massively boosted demand for the company's products. If a second wave of COVID-19 comes, workers, students, and everyone in between could be forced back into their homes and in front of their screens.
The Swiss company released its first-quarter results for fiscal 2021 on July 20,covering the period ending June 30. Sales in Q1 grew by 23% to $792 million. That's a significant increase given that in fiscal 2020, Logitech's full-year sales of $2.98 billion were up just 6.7% from the previous year , and for fiscal 2019, annual revenue of $2.79 billion rose by 8.7%.
The results were encouraging enough for management to raise its forecast for the rest of the fiscal year. Previously, they had called for mid-single-digit revenue growth, but that's been increased to between 10% and 13%. And given that the pandemic still looks to be far from over, these numbers could continue to climb in the months -- and possibly years -- to come. Schools and businesses are making the most of technology right now because of the pandemic, but the trend could be here to stay beyond that, as a growing number of tech companies are offering their employees the ability to work remotely on a permanent basis.
3. Paypal
Paypal is a digital payments company that makes it easy to send money to people all over the world. It allows consumers to pay bills and make purchases through its platform securely over all of their devices. And since the transactions are digital, Paypal provides an ideal way to pay during a pandemic, when handling cash and pressing buttons on payment screens aren't the safest and cleanest options.
The San Jose-based business released its second-quarter results on July 29, also for the period ending June 30. Net revenue of $5.26 billion for the quarter grew at a rate of 22% over Q1. That's a big spike from the 13% sales increase the company generated in the first quarter or the 12% bump it got a year ago during the same period.
PayPal also looks stronger after its $4 billion acquisition of Honey, which helps consumers find deals online, notifies them of price drops, and automatically applies coupons. The transaction, completed in January, gives PayPal a way to take advantage of a possible surge in online shopping if more shutdowns come this fall. In addition to Honey, PayPal also owns Venmo, another mobile payment company. But unlike PayPal, Venmo's focus is on sending money between friends and family; it's not designed for business use.
With all of these businesses, Paypal's in a great position to benefit from a rise in online shopping and more digital payments, trends that are likely to continue growing even after the pandemic, which could make it an even better buy today.
Which stock is the best buy today?
All three stocks are looking great this year and outperforming the S&P 500:
QDEL data by YCharts
All three can diversify a portfolio and provide investors some peace of mind in the event of another wave of COVID-19 this year. However, if you're looking for just one stock to add, the one I'd go with today is PayPal. The company will benefit from an increase in both online shopping and demand for contactless payments, giving it multiple avenues to grow through its core business and also through Venmo and Honey. And with less competition in its industry than Logitech, which has to worry about big tech, or Quidel, which competes with many healthcare companies looking to offer testing for COVID-19, Paypal's sitting in a great spot. It can continue to dominate in the digital payments industry for many years to come.
10 stocks we like better than Quidel
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David Jagielski has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends PayPal Holdings. The Motley Fool recommends Quidel and recommends the following options: long January 2022 $75 calls on PayPal Holdings. 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. | Schools and businesses are making the most of technology right now because of the pandemic, but the trend could be here to stay beyond that, as a growing number of tech companies are offering their employees the ability to work remotely on a permanent basis. And since the transactions are digital, Paypal provides an ideal way to pay during a pandemic, when handling cash and pressing buttons on payment screens aren't the safest and cleanest options. With all of these businesses, Paypal's in a great position to benefit from a rise in online shopping and more digital payments, trends that are likely to continue growing even after the pandemic, which could make it an even better buy today. | Three companies that are doing well during the pandemic and are good buys for worried investors today are Quidel (NASDAQ: QDEL), Logitech (NASDAQ: LOGI), and PayPal (NASDAQ: PYPL). The company's rapid testing segment, which includes Sofia SARS Antigen, generated sales of $80.6 million, up 270% from last year. The Motley Fool recommends Quidel and recommends the following options: long January 2022 $75 calls on PayPal Holdings. | Three companies that are doing well during the pandemic and are good buys for worried investors today are Quidel (NASDAQ: QDEL), Logitech (NASDAQ: LOGI), and PayPal (NASDAQ: PYPL). Quidel Quidel's been one of the hotter healthcare stocks in the market this year, more than tripling in value since the beginning of the year. With all of these businesses, Paypal's in a great position to benefit from a rise in online shopping and more digital payments, trends that are likely to continue growing even after the pandemic, which could make it an even better buy today. | Whether you're an avid gamer or using your computer to work from home, you are likely to have used one of Logitech's products at one point or another. That's a significant increase given that in fiscal 2020, Logitech's full-year sales of $2.98 billion were up just 6.7% from the previous year , and for fiscal 2019, annual revenue of $2.79 billion rose by 8.7%. With all of these businesses, Paypal's in a great position to benefit from a rise in online shopping and more digital payments, trends that are likely to continue growing even after the pandemic, which could make it an even better buy today. |
32520.0 | 2020-08-20 00:00:00 UTC | Let High Flyer Fulgent Genetics Take a Breather Before Dipping In | ABT | https://www.nasdaq.com/articles/let-high-flyer-fulgent-genetics-take-a-breather-before-dipping-in-2020-08-20 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Genetic testing services specialist Fulgent Genetics (NASDAQ:FLGT) is known for providing molecular and antibody testing for Covid-19. Folks who wish to get into the “testing trade” can therefore choose Fulgent Genetics stock. However, there might be concerns about the stock’s valuation.
Source: luchschenF / Shutterstock.com
It should also be noted that there are other strong players in this niche market. For example, Abbott Laboratories (NYSE:ABT) is well known among the medical and investing communities for providing testing instruments for Covid-19.
On the other hand, Fulgent is making significant progress in bringing its testing kits to the public. So, where does this leave informed investors? As often happens nowadays, they must decide if they’re willing to ignore a stocks’s high valuation in order to take a position in a profitable company.
A Closer Look at Fulgent Genetics Stock
Starting in the middle of April, the price action Fulgent Genetics stock resembled an airplane taxiing down a runway. In other words, it went sideways for a little while, and then it went up towards the clouds.
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Thus, from mid-April through the end of June, Fulgent Genetics stock kept returning to the $16 area. But there’s an old saying in the markets: the longer the base, the higher in space. Perhaps, then, the stock was only basing for a big move upwards.
And indeed, that’s exactly what happened. From early July to the middle of August, Fulgent Genetics stock rocketed from $16 to the $40 area. That might sound like a purely bullish development, and momentum-focused traders certainly might see it that way.
Value-oriented investors, however, might see things differently. As a result of the swift price move, the trailing 12-month price-to-earnings ratio of Fulgent Genetics stock was a whopping 338.87 as of Aug. 17.
If you decide that you like the company but don’t want to overpay for the stock, that’s perfectly understandable. It’s okay to wait until Fulgent Genetics stock takes a breather from its moon shot.
Timely Testing
May 18 was a big day for Fulgent Genetics. That’s when the company announced that its subsidiary, Fulgent Therapeutics, had received Emergency Use Authorization from the U.S. Food and Drug Administration for its flagship RT-PCR Covid-19 test.
In this type of Covid-19 test, RT-PCR stands for reverse transcription polymerase chain reaction. Through this testing method, “two known distinct regions within the SARS-CoV-2 genome” are identified and the results “are typically available within 1-2 days of your sample being received by the lab.”
That last part is of crucial importance as no one wants to wait a week or longer to get their Covid-19 test results. Thus, the FDA recognized Fulgent’s ability to provide a genetics-based testing methodology that’s not only reliable, but also relatively quick.
Fulgent Brings Testing Home
Yet, bigger and better things were to come for Fulgent Genetics. On June 16, the company revealed that the FDA had granted Emergency Use Authorization for Fulgent’s at-home Covid-19 testing solution.
Fulgent Genetics Chief Commercial Officer Brandon Perthuis explained how the company’s at-home test was an ideal complement to Fulgent’s highly successful RT-PCR Covid-19 test:
“Since launching our RT-PCR Test (non at-home test) several months ago, we have won several strategic accounts and are processing thousands of tests daily with an average turnaround time of 24 hours from receipt of sample. This at-home COVID-19 test will diversify our go-to-market approach for tests by utilizing our existing consumer-initiated genetic testing platform.”
On top of that, Fulgent Genetics just announced the opening of a massive laboratory in Texas, known as Fulgent Houston. This lab will, according to the company, have the capacity for 20,000 tests per day. Plus, Fulgent reports that it will be able to expand the lab if and when the demand for testing increases.
The Bottom Line
All in all, there’s no doubt that Fulgent Genetics is in expansion mode. The company seems to be making all the right moves, but the valuation of Fulgent Genetics stock might raise eyebrows.
Hence, value-focused investors might be bullish long-term but can still choose to wait for lower prices before taking a position in Fulgent Genetics stock.
As of this writing, David Moadel did not hold a position in any of the aforementioned securities.
The post Let High Flyer Fulgent Genetics Take a Breather Before Dipping In 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. | For example, Abbott Laboratories (NYSE:ABT) is well known among the medical and investing communities for providing testing instruments for Covid-19. As often happens nowadays, they must decide if they’re willing to ignore a stocks’s high valuation in order to take a position in a profitable company. That’s when the company announced that its subsidiary, Fulgent Therapeutics, had received Emergency Use Authorization from the U.S. Food and Drug Administration for its flagship RT-PCR Covid-19 test. | For example, Abbott Laboratories (NYSE:ABT) is well known among the medical and investing communities for providing testing instruments for Covid-19. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Genetic testing services specialist Fulgent Genetics (NASDAQ:FLGT) is known for providing molecular and antibody testing for Covid-19. Fulgent Genetics Chief Commercial Officer Brandon Perthuis explained how the company’s at-home test was an ideal complement to Fulgent’s highly successful RT-PCR Covid-19 test: “Since launching our RT-PCR Test (non at-home test) several months ago, we have won several strategic accounts and are processing thousands of tests daily with an average turnaround time of 24 hours from receipt of sample. | For example, Abbott Laboratories (NYSE:ABT) is well known among the medical and investing communities for providing testing instruments for Covid-19. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Genetic testing services specialist Fulgent Genetics (NASDAQ:FLGT) is known for providing molecular and antibody testing for Covid-19. Fulgent Genetics Chief Commercial Officer Brandon Perthuis explained how the company’s at-home test was an ideal complement to Fulgent’s highly successful RT-PCR Covid-19 test: “Since launching our RT-PCR Test (non at-home test) several months ago, we have won several strategic accounts and are processing thousands of tests daily with an average turnaround time of 24 hours from receipt of sample. | For example, Abbott Laboratories (NYSE:ABT) is well known among the medical and investing communities for providing testing instruments for Covid-19. Fulgent Genetics Chief Commercial Officer Brandon Perthuis explained how the company’s at-home test was an ideal complement to Fulgent’s highly successful RT-PCR Covid-19 test: “Since launching our RT-PCR Test (non at-home test) several months ago, we have won several strategic accounts and are processing thousands of tests daily with an average turnaround time of 24 hours from receipt of sample. The company seems to be making all the right moves, but the valuation of Fulgent Genetics stock might raise eyebrows. |
32521.0 | 2020-08-20 00:00:00 UTC | Noteworthy Thursday Option Activity: KEYS, ABT, FMC | ABT | https://www.nasdaq.com/articles/noteworthy-thursday-option-activity%3A-keys-abt-fmc-2020-08-20 | nan | nan | Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Keysight Technologies Inc (Symbol: KEYS), where a total of 5,084 contracts have traded so far, representing approximately 508,400 underlying shares. That amounts to about 43.3% of KEYS's average daily trading volume over the past month of 1.2 million shares. Particularly high volume was seen for the $100 strike put option expiring August 21, 2020, with 1,402 contracts trading so far today, representing approximately 140,200 underlying shares of KEYS. Below is a chart showing KEYS's trailing twelve month trading history, with the $100 strike highlighted in orange:
Abbott Laboratories (Symbol: ABT) saw options trading volume of 16,061 contracts, representing approximately 1.6 million underlying shares or approximately 42.4% of ABT's average daily trading volume over the past month, of 3.8 million shares. Particularly high volume was seen for the $100 strike call option expiring August 21, 2020, with 2,331 contracts trading so far today, representing approximately 233,100 underlying shares of ABT. Below is a chart showing ABT's trailing twelve month trading history, with the $100 strike highlighted in orange:
And FMC Corp. (Symbol: FMC) saw options trading volume of 2,572 contracts, representing approximately 257,200 underlying shares or approximately 41.3% of FMC's average daily trading volume over the past month, of 622,645 shares. Particularly high volume was seen for the $95 strike put option expiring August 21, 2020, with 2,150 contracts trading so far today, representing approximately 215,000 underlying shares of FMC. Below is a chart showing FMC's trailing twelve month trading history, with the $95 strike highlighted in orange:
For the various different available expirations for KEYS options, ABT options, or FMC options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Particularly high volume was seen for the $100 strike call option expiring August 21, 2020, with 2,331 contracts trading so far today, representing approximately 233,100 underlying shares of ABT. Below is a chart showing KEYS's trailing twelve month trading history, with the $100 strike highlighted in orange: Abbott Laboratories (Symbol: ABT) saw options trading volume of 16,061 contracts, representing approximately 1.6 million underlying shares or approximately 42.4% of ABT's average daily trading volume over the past month, of 3.8 million shares. Below is a chart showing ABT's trailing twelve month trading history, with the $100 strike highlighted in orange: And FMC Corp. (Symbol: FMC) saw options trading volume of 2,572 contracts, representing approximately 257,200 underlying shares or approximately 41.3% of FMC's average daily trading volume over the past month, of 622,645 shares. | Below is a chart showing KEYS's trailing twelve month trading history, with the $100 strike highlighted in orange: Abbott Laboratories (Symbol: ABT) saw options trading volume of 16,061 contracts, representing approximately 1.6 million underlying shares or approximately 42.4% of ABT's average daily trading volume over the past month, of 3.8 million shares. Below is a chart showing ABT's trailing twelve month trading history, with the $100 strike highlighted in orange: And FMC Corp. (Symbol: FMC) saw options trading volume of 2,572 contracts, representing approximately 257,200 underlying shares or approximately 41.3% of FMC's average daily trading volume over the past month, of 622,645 shares. Particularly high volume was seen for the $100 strike call option expiring August 21, 2020, with 2,331 contracts trading so far today, representing approximately 233,100 underlying shares of ABT. | Below is a chart showing KEYS's trailing twelve month trading history, with the $100 strike highlighted in orange: Abbott Laboratories (Symbol: ABT) saw options trading volume of 16,061 contracts, representing approximately 1.6 million underlying shares or approximately 42.4% of ABT's average daily trading volume over the past month, of 3.8 million shares. Below is a chart showing ABT's trailing twelve month trading history, with the $100 strike highlighted in orange: And FMC Corp. (Symbol: FMC) saw options trading volume of 2,572 contracts, representing approximately 257,200 underlying shares or approximately 41.3% of FMC's average daily trading volume over the past month, of 622,645 shares. Particularly high volume was seen for the $100 strike call option expiring August 21, 2020, with 2,331 contracts trading so far today, representing approximately 233,100 underlying shares of ABT. | Particularly high volume was seen for the $100 strike call option expiring August 21, 2020, with 2,331 contracts trading so far today, representing approximately 233,100 underlying shares of ABT. Below is a chart showing ABT's trailing twelve month trading history, with the $100 strike highlighted in orange: And FMC Corp. (Symbol: FMC) saw options trading volume of 2,572 contracts, representing approximately 257,200 underlying shares or approximately 41.3% of FMC's average daily trading volume over the past month, of 622,645 shares. Below is a chart showing KEYS's trailing twelve month trading history, with the $100 strike highlighted in orange: Abbott Laboratories (Symbol: ABT) saw options trading volume of 16,061 contracts, representing approximately 1.6 million underlying shares or approximately 42.4% of ABT's average daily trading volume over the past month, of 3.8 million shares. |
32522.0 | 2020-08-19 00:00:00 UTC | SPYG, ABT, AMD, PEP: ETF Outflow Alert | ABT | https://www.nasdaq.com/articles/spyg-abt-amd-pep%3A-etf-outflow-alert-2020-08-19 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR— Portfolio S&P 500— Growth ETF (Symbol: SPYG) where we have detected an approximate $233.3 million dollar outflow -- that's a 2.6% decrease week over week (from 181,000,000 to 176,350,000). Among the largest underlying components of SPYG, in trading today Abbott Laboratories (Symbol: ABT) is trading flat, Advanced Micro Devices Inc (Symbol: AMD) is down about 0.4%, and PepsiCo Inc (Symbol: PEP) is higher by about 0.2%. For a complete list of holdings, visit the SPYG Holdings page » The chart below shows the one year price performance of SPYG, versus its 200 day moving average:
Looking at the chart above, SPYG's low point in its 52 week range is $30.39 per share, with $50.32 as the 52 week high point — that compares with a last trade of $50.24. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of SPYG, in trading today Abbott Laboratories (Symbol: ABT) is trading flat, Advanced Micro Devices Inc (Symbol: AMD) is down about 0.4%, and PepsiCo Inc (Symbol: PEP) is higher by about 0.2%. For a complete list of holdings, visit the SPYG Holdings page » The chart below shows the one year price performance of SPYG, versus its 200 day moving average: Looking at the chart above, SPYG's low point in its 52 week range is $30.39 per share, with $50.32 as the 52 week high point — that compares with a last trade of $50.24. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of SPYG, in trading today Abbott Laboratories (Symbol: ABT) is trading flat, Advanced Micro Devices Inc (Symbol: AMD) is down about 0.4%, and PepsiCo Inc (Symbol: PEP) is higher by about 0.2%. For a complete list of holdings, visit the SPYG Holdings page » The chart below shows the one year price performance of SPYG, versus its 200 day moving average: Looking at the chart above, SPYG's low point in its 52 week range is $30.39 per share, with $50.32 as the 52 week high point — that compares with a last trade of $50.24. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). | Among the largest underlying components of SPYG, in trading today Abbott Laboratories (Symbol: ABT) is trading flat, Advanced Micro Devices Inc (Symbol: AMD) is down about 0.4%, and PepsiCo Inc (Symbol: PEP) is higher by about 0.2%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR— Portfolio S&P 500— Growth ETF (Symbol: SPYG) where we have detected an approximate $233.3 million dollar outflow -- that's a 2.6% decrease week over week (from 181,000,000 to 176,350,000). For a complete list of holdings, visit the SPYG Holdings page » The chart below shows the one year price performance of SPYG, versus its 200 day moving average: Looking at the chart above, SPYG's low point in its 52 week range is $30.39 per share, with $50.32 as the 52 week high point — that compares with a last trade of $50.24. | Among the largest underlying components of SPYG, in trading today Abbott Laboratories (Symbol: ABT) is trading flat, Advanced Micro Devices Inc (Symbol: AMD) is down about 0.4%, and PepsiCo Inc (Symbol: PEP) is higher by about 0.2%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR— Portfolio S&P 500— Growth ETF (Symbol: SPYG) where we have detected an approximate $233.3 million dollar outflow -- that's a 2.6% decrease week over week (from 181,000,000 to 176,350,000). For a complete list of holdings, visit the SPYG Holdings page » The chart below shows the one year price performance of SPYG, versus its 200 day moving average: Looking at the chart above, SPYG's low point in its 52 week range is $30.39 per share, with $50.32 as the 52 week high point — that compares with a last trade of $50.24. |
32523.0 | 2020-08-18 00:00:00 UTC | Abbott Laboratories Is a Surefire Covid-19 Diagnostics Investment | ABT | https://www.nasdaq.com/articles/abbott-laboratories-is-a-surefire-covid-19-diagnostics-investment-2020-08-18 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
With so many health-care sector investors focused on Covid-19 vaccine candidates, some traders are missing out on other opportunities. Abbott Laboratories (NYSE:ABT), for example, is contributing to the battle against the novel coronavirus and ABT stock holders are earning strong returns, yet the company’s focus isn’t on a vaccine.
Source: Sundry Photography/Shutterstock.com
Rather, Abbott’s primary concern is supplying testing instruments for Covid-19. This is an excellent business to be in. While other health-care companies can climb over each other in the race to bring a successful vaccine to market, Abbott can quietly and profitably produce massive quantities of Covid-19 tests.
Ever since U.S. Vice President Mike Pence said, “we don’t have enough tests today to meet what we anticipate will be the demand going forward,” there’s been no doubt that the Covid-19 testing market would remain strong for many months.
Skeptics might argue that all of the foregoing has already been priced into Abbott stock. And indeed, it is evident that the shares have been on a tear lately. Yet, an argument could be made that there’s much more room for ABT to run.
A Closer Look at ABT Stock
On Aug. 14, I recall watching Abbott stock closely to see if it would close the day at exactly $100. The market must have a cruel sense of humor as the stock ended the day at $99.99.
8 Dividend Stocks That Look Too Generous
Abbott stock hasn’t been cruel to long-term investors, though, as the gains have been phenomenal during the past several months. To provide some perspective on this, consider that the 52-week low price for ABT is $61.61.
Plus, ABT shareholders can expect to collect an annual forward dividend yield of 1.42%. With all of that in mind, it’s difficult to construct a strong bear case for Abbott stock.
On the other hand, value investors might be concerned that ABT’s trailing 12-month price-to-earnings ratio is 57.76. That’s fairly high, but a lofty P/E ratio could be sustainable if the company is profitable. And in the case of Abbott Laboratories, there are definitely profits coming in.
A Pivot to Testing
Some of those profits are still coming from Abbott’s pre-coronavirus medical devices, no doubt. It’s not as if the company has completely shifted to Covid-19 test making and ignored everything else.
That being said, one can’t really blame Abbott for making a decisive move into the coronavirus test-instrument market. Impressively, coronavirus tests enhanced Abbott’s top line by $615 million during 2020’s second quarter.
Also during that quarter, those coronavirus tests accounted for more than 8% of Abbott’s total revenues. Plus, they comprised around 31% of the company’s quarterly diagnostic-segment revenues.
More Tests, More Profits
The foregoing numbers are impressive, and much of it is due to Abbott’s variety of test types. Abbott Laboratories President and CEO Robert Ford alluded to this during the company’s second-quarter conference call:
“As we think about the continuum of diagnostic testing for COVID-19 going forward, we see the environment unfolding across a few phases… In addition to molecular testing during this period, we would anticipate increased demand for other types of tests, including both antigen and antibody.”
While other manufacturers might rely on just one type of test, Abbott offers five Covid-19 tests. Three of them are molecular tests, while the two others are serology tests, a.k.a. antibody tests.
Perhaps the most noteworthy of these tests are Abbott’s Covid-19 antibody tests, which are marketed under the brand names ARCHITECT and Alinity i. Between these two brands, Abbott sold more than 13 million Covid-19 antibody tests in the U.S. as of Aug. 5.
The Bottom Line
It would be unwise to bet against Abbott Laboratories at this point as the company is carving out a sizable portion of the coronavirus-diagnostics niche. Therefore, even if a successful Covid-19 vaccine were somehow discovered tomorrow, there should still be plenty of room for ABT stock to grow.
As of this writing, David Moadel did not hold a position in any of the aforementioned securities.
The post Abbott Laboratories Is a Surefire Covid-19 Diagnostics Investment 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. | Therefore, even if a successful Covid-19 vaccine were somehow discovered tomorrow, there should still be plenty of room for ABT stock to grow. Abbott Laboratories (NYSE:ABT), for example, is contributing to the battle against the novel coronavirus and ABT stock holders are earning strong returns, yet the company’s focus isn’t on a vaccine. Yet, an argument could be made that there’s much more room for ABT to run. | Abbott Laboratories (NYSE:ABT), for example, is contributing to the battle against the novel coronavirus and ABT stock holders are earning strong returns, yet the company’s focus isn’t on a vaccine. Yet, an argument could be made that there’s much more room for ABT to run. A Closer Look at ABT Stock On Aug. 14, I recall watching Abbott stock closely to see if it would close the day at exactly $100. | Abbott Laboratories (NYSE:ABT), for example, is contributing to the battle against the novel coronavirus and ABT stock holders are earning strong returns, yet the company’s focus isn’t on a vaccine. Yet, an argument could be made that there’s much more room for ABT to run. A Closer Look at ABT Stock On Aug. 14, I recall watching Abbott stock closely to see if it would close the day at exactly $100. | Abbott Laboratories (NYSE:ABT), for example, is contributing to the battle against the novel coronavirus and ABT stock holders are earning strong returns, yet the company’s focus isn’t on a vaccine. Yet, an argument could be made that there’s much more room for ABT to run. A Closer Look at ABT Stock On Aug. 14, I recall watching Abbott stock closely to see if it would close the day at exactly $100. |
32524.0 | 2020-08-18 00:00:00 UTC | FDA Gives EUA to a Unique COVID-19 Saliva Test | ABT | https://www.nasdaq.com/articles/fda-gives-eua-to-a-unique-covid-19-saliva-test-2020-08-18 | nan | nan | The Food and Drug Administration has given the nod to a novel new COVID-19 test. The regulator announced Monday that it granted an emergency use authorization (EUA) for SalivaDirect, a diagnostic solution developed by the Yale School of Public Health.
In contrast to most tests currently in use to detect active cases of the SARS-CoV-2 coronavirus, SalivaDirect does not require any kind of swab. Additionally, it does not necessitate a specialized container to hold the harvested sample. As its name implies, it's a saliva test, and the sample can be stored in any type of sterile container.
Image source: Getty Images.
"It is also unique because it does not require a separate nucleic acid extraction step," involving additional chemicals, the FDA wrote in its daily round-up of COVID-19 and coronavirus-related news on Monday. "This is significant because the extraction kits used for this step in other tests have been prone to shortages in the past."
SalivaDirect is the result of research into the coronavirus that indicated it could remain stable in saliva at warm temperatures. The Yale team developed a diagnostic solution around that property. Research indicates that SalivaDirect tests are similar in accuracy and sensitivity to those that use fairly uncomfortable nasopharyngeal swabbing to harvest test samples from within the nose.
In an article on SalivaDirect's receipt of the EUA, YaleNews quoted research team member Chantal Vogels, Ph.D., as saying that with its advantages, "it has the potential to be used on a large scale to help protect public health."
There are various COVID-19 testing products on the market that emphasize convenience and speed. Becton, Dickinson (NYSE: BDC), for one, has a blood testing kit for coronavirus antibodies that it says can deliver results in 15 minutes, while Abbott's (NYSE: ABT) five-minute ID NOW COVID-19 test received its EUA relatively early in the pandemic.
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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. | Becton, Dickinson (NYSE: BDC), for one, has a blood testing kit for coronavirus antibodies that it says can deliver results in 15 minutes, while Abbott's (NYSE: ABT) five-minute ID NOW COVID-19 test received its EUA relatively early in the pandemic. The regulator announced Monday that it granted an emergency use authorization (EUA) for SalivaDirect, a diagnostic solution developed by the Yale School of Public Health. "It is also unique because it does not require a separate nucleic acid extraction step," involving additional chemicals, the FDA wrote in its daily round-up of COVID-19 and coronavirus-related news on Monday. | Becton, Dickinson (NYSE: BDC), for one, has a blood testing kit for coronavirus antibodies that it says can deliver results in 15 minutes, while Abbott's (NYSE: ABT) five-minute ID NOW COVID-19 test received its EUA relatively early in the pandemic. The regulator announced Monday that it granted an emergency use authorization (EUA) for SalivaDirect, a diagnostic solution developed by the Yale School of Public Health. The Yale team developed a diagnostic solution around that property. | Becton, Dickinson (NYSE: BDC), for one, has a blood testing kit for coronavirus antibodies that it says can deliver results in 15 minutes, while Abbott's (NYSE: ABT) five-minute ID NOW COVID-19 test received its EUA relatively early in the pandemic. Research indicates that SalivaDirect tests are similar in accuracy and sensitivity to those that use fairly uncomfortable nasopharyngeal swabbing to harvest test samples from within the nose. See the 10 stocks Stock Advisor returns as of 2/1/20 Eric Volkman has no position in any of the stocks mentioned. | Becton, Dickinson (NYSE: BDC), for one, has a blood testing kit for coronavirus antibodies that it says can deliver results in 15 minutes, while Abbott's (NYSE: ABT) five-minute ID NOW COVID-19 test received its EUA relatively early in the pandemic. The regulator announced Monday that it granted an emergency use authorization (EUA) for SalivaDirect, a diagnostic solution developed by the Yale School of Public Health. SalivaDirect is the result of research into the coronavirus that indicated it could remain stable in saliva at warm temperatures. |
32525.0 | 2020-08-16 00:00:00 UTC | 3 Dividend Stocks Yielding More Than 4% That Are Safe Buys Right Now | ABT | https://www.nasdaq.com/articles/3-dividend-stocks-yielding-more-than-4-that-are-safe-buys-right-now-2020-08-16 | nan | nan | If you're retired (or close to that point), there are typically two main things you'll look for in stocks. First, the stock should pay an attractive dividend. Second, the underlying business should be solid and reliable.
Once you find stocks that check off these boxes, you can buy and hold without losing any sleep at night. Your retirement should be relatively secure, with dividends rolling in regularly.
But what stocks meet both of these criteria? Here are three dividend stocks yielding more than 4% that are safe buys right now.
Image source: Getty Images.
1. Brookfield Infrastructure Partners
Brookfield Infrastructure Partners' (NYSE: BIP) dividend currently yields 4.4%. The company has consistently distributed a dividend to unitholders since it went public in 2008. It has also increased its distribution by an average of 10% annually over the last 10 years.
The company's business is about as steady as they come. Brookfield Infrastructure, as its name indicates, owns and manages infrastructure assets. These assets include electricity distribution and transmission systems, railroads, ports, toll roads, natural gas pipelines, communications towers, and data centers.
As you would expect, these are the kinds of infrastructure assets that provide a stable revenue stream month in and month out. In fact, roughly 95% of Brookfield Infrastructure's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) are either regulated or locked into long-term contracts. It's also helpful that the company's assets are well diversified geographically across five continents, with no region generating more than 30% of total cash flows. .
Brookfield Infrastructure expects to deliver organic funds from operations (FFO) growth of between 6% and 9% each year and could boost that level with acquisitions. The company targets distributing between 60% and 70% of its FFO to unitholders.
2. Duke Energy
Duke Energy (NYSE: DUK) offers a dividend yield of nearly 4.7%. It has consistently paid a dividend every quarter for decades. However, Duke's dividend payout didn't increase during the latter part of the 1990s and the early years of the 21st century. The company also reduced its dividend in 2007. Since then, though, Duke Energy has increased its dividend every year.
Thanks to some acquisitions and mergers through the years, Duke Energy now ranks as one of the largest utilities in the U.S. It provides electricity to around 7.7 million customers in six states and natural gas to more than 1.6 million customers in five states. In addition, Duke operates solar and wind power facilities in 14 states.
The good news for investors is that Duke can count on generating a stable cash flow. Utilities are highly regulated, but they also enjoy monopolies. Duke's markets include fast-growing areas such as Florida and North Carolina that will likely need more electric power in the future.
Granted, Duke's business could be viewed as boring. The stock isn't going to deliver soaring growth. But for dividend-seeking investors, that's not a problem at all.
3. AbbVie
AbbVie (NYSE: ABBV) pays the most attractive dividend of the three, with a juicy yield of close to 5%. The big pharma company also belongs to the elite group of stocks known as Dividend Aristocrats, members of the S&P 500 index that have increased their dividends for at least 25 consecutive years.
The company's top-selling drug Humira faces biosimilar rivals in the U.S. beginning in 2023. Is that something for dividend investors to worry about, considering that Humira generated nearly 58% of AbbVie's total revenue last year? I don't think so.
For one thing, Humira is now a smaller (although still important) part of AbbVie's portfolio now that the company has completed its acquisition of Allergan. Also, AbbVie's lineup and pipeline include fast-rising stars that should further reduce its dependence on Humira.
AbbVie's blood cancer drugs Imbruvica and Venclexta rank at the top of that list. It also has two new immunology drugs, Rinvoq and Skyrizi, that will take the baton from Humira. These and other drugs should enable AbbVie's dividends to keep flowing and growing for a long time to come.
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Keith Speights owns shares of AbbVie and Brookfield Infrastructure Partners. The Motley Fool recommends Brookfield Infrastructure Partners and Duke Energy. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | These assets include electricity distribution and transmission systems, railroads, ports, toll roads, natural gas pipelines, communications towers, and data centers. In fact, roughly 95% of Brookfield Infrastructure's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) are either regulated or locked into long-term contracts. Brookfield Infrastructure expects to deliver organic funds from operations (FFO) growth of between 6% and 9% each year and could boost that level with acquisitions. | Brookfield Infrastructure Partners Brookfield Infrastructure Partners' (NYSE: BIP) dividend currently yields 4.4%. Duke Energy Duke Energy (NYSE: DUK) offers a dividend yield of nearly 4.7%. The Motley Fool recommends Brookfield Infrastructure Partners and Duke Energy. | Brookfield Infrastructure Partners Brookfield Infrastructure Partners' (NYSE: BIP) dividend currently yields 4.4%. The big pharma company also belongs to the elite group of stocks known as Dividend Aristocrats, members of the S&P 500 index that have increased their dividends for at least 25 consecutive years. See the 10 stocks *Stock Advisor returns as of August 1, 2020 Keith Speights owns shares of AbbVie and Brookfield Infrastructure Partners. | Is that something for dividend investors to worry about, considering that Humira generated nearly 58% of AbbVie's total revenue last year? * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and AbbVie wasn't one of them! That's right -- they think these 10 stocks are even better buys. |
32526.0 | 2020-08-13 00:00:00 UTC | 2 Top Stocks for Retirees | ABT | https://www.nasdaq.com/articles/2-top-stocks-for-retirees-2020-08-13 | nan | nan | Investing for retirement income requires a conservative approach to picking stocks. Volatile growth stocks might not protect the principal of your investment, and high-dividend securities might be too pricey to buy. On the other hand, if you're in it for income, there isn't much point in buying shares in a company that doesn't pay a dividend or grow rapidly enough to justify holding onto for just a few years.
There's no substitute for a well-diversified portfolio, but there are a couple of long-standing healthcare stocks retirees can count on for the earnings stability, dividend payments, and relatively safe growth they desire. Let's dive in and examine why these two companies are great pickups for retirees.
Image source: Getty Images.
Johnson & Johnson
Johnson & Johnson (NYSE: JNJ) is one of the largest companies in the world. It's also one of the most stable, thanks to its massive collection of consumer healthcare products. Though its trailing dividend yield of 2.6% is only slightly above average, the company has increased its annual dividend for an astonishing 57 years in a row. As the reliability of dividend payments goes, it's nearly impossible to find a company with a better track record of growth.
Johnson & Johnson is more than a dividend stock, however. It's also a remarkably resilient company that has grown faster than the market over the past 20 years. During the Great Recession of 2007-09 and the dot-com crash of 2001, Johnson & Johnson fared well, shedding little value compared with its historical price. Likewise, its trailing-12-month earnings before interest, taxes, depreciation, and amortization (EBITDA) have increased over time, meaning that the company's strength is growing over the long term. Consistent earnings increases also suggest that the company's leadership has a history of being effective and selecting worthwhile replacements when an executive's tenure draws to a close.
Effective leadership tends to deliver for shareholders, and Johnson & Johnson's is no exception. Over the past decade, the company has preferred to buy back its outstanding shares, helping the stock price to grow. What's more, Johnson & Johnson hasn't diluted equity value for its shareholders by issuing new common stock in more than 10 years, so retirees can have some confidence that their holdings won't weaken over time.
SPY data by YCharts
Abbott Laboratories
Abbott Laboratories (NYSE: ABT) is similar to Johnson & Johnson in that it's a deeply established healthcare company with a plethora of critical products and therapies. Remarkably, the company's earnings grew substantially during the Great Recession and held steady in the dot-com crash, so it has a history of resilience that will help it to weather the current market conditions.
In the long term, Abbott's earnings haven't grown as much as Johnson & Johnson's, but its stock price has consistently risen, and its dividend history -- 47 years of continuous increases -- is nothing to sneeze at (though its trailing annual yield of 1.4% is a bit low compared to the healthcare industry average of about 2.3%. Thus, retiree investors might need to consider selling the stock to capture value rather than waiting for the accumulation of annual dividend increases to pay off.
In terms of the consistency of its value as an investment, Abbott Labs last issued new common stock in 2007, but it has bought back shares every year since 2003. If this this long-running trend continues, the stock price will continue to grow and shareholder value won't be diluted.
If Abbott's stock seems a bit expensive at the moment, be aware that it might not be available at a discount anytime soon. That said, if the market crashes and Abbott follows, that might be the right time to grab a few shares and buckle up for a five-year holding stint.
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Alex Carchidi has no position in any of the stocks mentioned. The Motley Fool recommends Johnson & Johnson. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | SPY data by YCharts Abbott Laboratories Abbott Laboratories (NYSE: ABT) is similar to Johnson & Johnson in that it's a deeply established healthcare company with a plethora of critical products and therapies. There's no substitute for a well-diversified portfolio, but there are a couple of long-standing healthcare stocks retirees can count on for the earnings stability, dividend payments, and relatively safe growth they desire. Consistent earnings increases also suggest that the company's leadership has a history of being effective and selecting worthwhile replacements when an executive's tenure draws to a close. | SPY data by YCharts Abbott Laboratories Abbott Laboratories (NYSE: ABT) is similar to Johnson & Johnson in that it's a deeply established healthcare company with a plethora of critical products and therapies. Johnson & Johnson Johnson & Johnson (NYSE: JNJ) is one of the largest companies in the world. In the long term, Abbott's earnings haven't grown as much as Johnson & Johnson's, but its stock price has consistently risen, and its dividend history -- 47 years of continuous increases -- is nothing to sneeze at (though its trailing annual yield of 1.4% is a bit low compared to the healthcare industry average of about 2.3%. | SPY data by YCharts Abbott Laboratories Abbott Laboratories (NYSE: ABT) is similar to Johnson & Johnson in that it's a deeply established healthcare company with a plethora of critical products and therapies. Johnson & Johnson Johnson & Johnson (NYSE: JNJ) is one of the largest companies in the world. What's more, Johnson & Johnson hasn't diluted equity value for its shareholders by issuing new common stock in more than 10 years, so retirees can have some confidence that their holdings won't weaken over time. | SPY data by YCharts Abbott Laboratories Abbott Laboratories (NYSE: ABT) is similar to Johnson & Johnson in that it's a deeply established healthcare company with a plethora of critical products and therapies. On the other hand, if you're in it for income, there isn't much point in buying shares in a company that doesn't pay a dividend or grow rapidly enough to justify holding onto for just a few years. Johnson & Johnson is more than a dividend stock, however. |
32527.0 | 2020-08-11 00:00:00 UTC | SPYG, FB, ABT, AMD: Large Inflows Detected at ETF | ABT | https://www.nasdaq.com/articles/spyg-fb-abt-amd%3A-large-inflows-detected-at-etf-2020-08-11 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR— Portfolio S&P 500— Growth ETF (Symbol: SPYG) where we have detected an approximate $113.1 million dollar inflow -- that's a 1.3% increase week over week in outstanding units (from 178,700,000 to 181,000,000). Among the largest underlying components of SPYG, in trading today Facebook Inc (Symbol: FB) is off about 0.3%, Abbott Laboratories (Symbol: ABT) is down about 0.2%, and Advanced Micro Devices Inc (Symbol: AMD) is lower by about 3%. For a complete list of holdings, visit the SPYG Holdings page » The chart below shows the one year price performance of SPYG, versus its 200 day moving average:
Looking at the chart above, SPYG's low point in its 52 week range is $30.39 per share, with $49.625 as the 52 week high point — that compares with a last trade of $49.10. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of SPYG, in trading today Facebook Inc (Symbol: FB) is off about 0.3%, Abbott Laboratories (Symbol: ABT) is down about 0.2%, and Advanced Micro Devices Inc (Symbol: AMD) is lower by about 3%. For a complete list of holdings, visit the SPYG Holdings page » The chart below shows the one year price performance of SPYG, versus its 200 day moving average: Looking at the chart above, SPYG's low point in its 52 week range is $30.39 per share, with $49.625 as the 52 week high point — that compares with a last trade of $49.10. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of SPYG, in trading today Facebook Inc (Symbol: FB) is off about 0.3%, Abbott Laboratories (Symbol: ABT) is down about 0.2%, and Advanced Micro Devices Inc (Symbol: AMD) is lower by about 3%. For a complete list of holdings, visit the SPYG Holdings page » The chart below shows the one year price performance of SPYG, versus its 200 day moving average: Looking at the chart above, SPYG's low point in its 52 week range is $30.39 per share, with $49.625 as the 52 week high point — that compares with a last trade of $49.10. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ». | Among the largest underlying components of SPYG, in trading today Facebook Inc (Symbol: FB) is off about 0.3%, Abbott Laboratories (Symbol: ABT) is down about 0.2%, and Advanced Micro Devices Inc (Symbol: AMD) is lower by about 3%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR— Portfolio S&P 500— Growth ETF (Symbol: SPYG) where we have detected an approximate $113.1 million dollar inflow -- that's a 1.3% increase week over week in outstanding units (from 178,700,000 to 181,000,000). For a complete list of holdings, visit the SPYG Holdings page » The chart below shows the one year price performance of SPYG, versus its 200 day moving average: Looking at the chart above, SPYG's low point in its 52 week range is $30.39 per share, with $49.625 as the 52 week high point — that compares with a last trade of $49.10. | Among the largest underlying components of SPYG, in trading today Facebook Inc (Symbol: FB) is off about 0.3%, Abbott Laboratories (Symbol: ABT) is down about 0.2%, and Advanced Micro Devices Inc (Symbol: AMD) is lower by about 3%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR— Portfolio S&P 500— Growth ETF (Symbol: SPYG) where we have detected an approximate $113.1 million dollar inflow -- that's a 1.3% increase week over week in outstanding units (from 178,700,000 to 181,000,000). For a complete list of holdings, visit the SPYG Holdings page » The chart below shows the one year price performance of SPYG, versus its 200 day moving average: Looking at the chart above, SPYG's low point in its 52 week range is $30.39 per share, with $49.625 as the 52 week high point — that compares with a last trade of $49.10. |
32528.0 | 2020-08-11 00:00:00 UTC | TSX futures rise on firmer oil prices | ABT | https://www.nasdaq.com/articles/tsx-futures-rise-on-firmer-oil-prices-2020-08-11 | nan | nan | Aug 11 (Reuters) - Canada's main stock index futures rose on Tuesday, helped by gains in oil prices and hopes of a U.S. stimulus package to revive the economy.
Crude oil prices rose, underpinned by expectations of a U.S. stimulus to help jumpstart the world's biggest oil consumer, a rebound in Asian demand as economies reopen and a stronger stock market.
September futures on the S&P/TSX index SXFc1 were up 0.82% at 7:00 a.m. ET.
Data for Canada's house starts for the month of July is due at 8:15 a.m. ET
Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.99% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 rose 0.69% and Nasdaq 100 e-mini futures NQc1 gained 0.54%. .N
On Monday, the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.37% higher at 16,605.50.
TOP STORIES TOP/CAN
Canadian Finance Minister Bill Morneau could lose his job amid disagreements with Prime Minister Justin Trudeau over how to steer the economy through the coronavirus outbreak, the Globe and Mail said on Tuesday.
Canadian fertilizer maker Nutrien Ltd NTR.TO on Monday cut its annual adjusted profit forecast as weaker-than-normal industrial demand held back prices for ammonia and urea ammonium nitrate.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Absolute Software Corp ABT.TO: BMO raises target price to C$18 from C$12.50
Equinox Gold Corp EQX.TO: TD Securities Raises Target Price to C$25 from C$21
Teranga Gold Corp TGZ.TO: RBC rsises target price to C$20 from C$13
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1,985.9; -2.04% GOL/
US crude CLc1: $42.55; +1.45% O/R
Brent crude LCOc1: $45.48; +1.09% O/R
U.S. ECONOMIC DATA DUE ON TUESDAY
0600 NFIB Business Optimism Index for Jul: Prior 100.60
0830 PPI final demand yy for Jul: Expected -0.7%; Prior -0.8%
0830 PPI final demand mm for Jul: Expected 0.3%; Prior -0.2%
0830 PPI exfood/energy yy for Jul: Expected 0.0%; Prior 0.1%
0830 PPI exfood/energy mm for Jul: Expected 0.1%; Prior -0.3%
0830 PPI ex food/energy/transport yy for Jul: Prior -0.1%
0830 PPI ex food/energy/transport mm for Jul: Prior 0.3%
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$1.33)
(Reporting by Shivani Kumaresan in Bengaluru; Editing by Krishna Chandra Eluri)
((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Absolute Software Corp ABT.TO: BMO raises target price to C$18 from C$12.50 Equinox Gold Corp EQX.TO: TD Securities Raises Target Price to C$25 from C$21 Teranga Gold Corp TGZ.TO: RBC rsises target price to C$20 from C$13 COMMODITIES AT 7:00 a.m. Aug 11 (Reuters) - Canada's main stock index futures rose on Tuesday, helped by gains in oil prices and hopes of a U.S. stimulus package to revive the economy. Crude oil prices rose, underpinned by expectations of a U.S. stimulus to help jumpstart the world's biggest oil consumer, a rebound in Asian demand as economies reopen and a stronger stock market. | Absolute Software Corp ABT.TO: BMO raises target price to C$18 from C$12.50 Equinox Gold Corp EQX.TO: TD Securities Raises Target Price to C$25 from C$21 Teranga Gold Corp TGZ.TO: RBC rsises target price to C$20 from C$13 COMMODITIES AT 7:00 a.m. Aug 11 (Reuters) - Canada's main stock index futures rose on Tuesday, helped by gains in oil prices and hopes of a U.S. stimulus package to revive the economy. ET, while S&P 500 e-mini futures ESc1 rose 0.69% and Nasdaq 100 e-mini futures NQc1 gained 0.54%. | Absolute Software Corp ABT.TO: BMO raises target price to C$18 from C$12.50 Equinox Gold Corp EQX.TO: TD Securities Raises Target Price to C$25 from C$21 Teranga Gold Corp TGZ.TO: RBC rsises target price to C$20 from C$13 COMMODITIES AT 7:00 a.m. Aug 11 (Reuters) - Canada's main stock index futures rose on Tuesday, helped by gains in oil prices and hopes of a U.S. stimulus package to revive the economy. 0600 NFIB Business Optimism Index for Jul: Prior 100.60 0830 PPI final demand yy for Jul: Expected -0.7%; Prior -0.8% 0830 PPI final demand mm for Jul: Expected 0.3%; Prior -0.2% 0830 PPI exfood/energy yy for Jul: Expected 0.0%; Prior 0.1% 0830 PPI exfood/energy mm for Jul: Expected 0.1%; Prior -0.3% 0830 PPI ex food/energy/transport yy for Jul: Prior -0.1% 0830 PPI ex food/energy/transport mm for Jul: Prior 0.3% | Absolute Software Corp ABT.TO: BMO raises target price to C$18 from C$12.50 Equinox Gold Corp EQX.TO: TD Securities Raises Target Price to C$25 from C$21 Teranga Gold Corp TGZ.TO: RBC rsises target price to C$20 from C$13 COMMODITIES AT 7:00 a.m. Aug 11 (Reuters) - Canada's main stock index futures rose on Tuesday, helped by gains in oil prices and hopes of a U.S. stimulus package to revive the economy. Crude oil prices rose, underpinned by expectations of a U.S. stimulus to help jumpstart the world's biggest oil consumer, a rebound in Asian demand as economies reopen and a stronger stock market. |
32529.0 | 2020-08-07 00:00:00 UTC | 2 Coronavirus Stocks Robinhood Investors Love. Should You? | ABT | https://www.nasdaq.com/articles/2-coronavirus-stocks-robinhood-investors-love.-should-you-2020-08-07 | nan | nan | Robinhood Markets is a financial services company that owns the stock-trading app Robinhood, which is highly popular among millennials. The company has made a habit of maintaining an updated list of the 100 most popular stocks on its platform.
A peek at the stocks in the most recent ranking (as of this writing) reveals that Robinhood investors have been busy buying shares of companies that are involved in the development of vaccines or treatments for the coronavirus. In particular, Gilead Sciences (NASDAQ: GILD) and Sorrento Therapeutics (NASDAQ: SRNE) both feature on the list.
Gilead Sciences is the biotech behind remdesivir, an antiviral drug that could be our best shot at a treatment for COVID-19. Meanwhile, Sorrento Therapeutics boasts several coronavirus-related products in its pipeline. Both of these companies have handily outperformed the market of late, but will they continue to do so? Let's look at each and figure out whether they deserve a place in your portfolio.
GILD data by YCharts.
Gilead Sciences is more than just remdesivir
Gilead failed to impress investors with its latest earnings report. During the second quarter, the company's revenue of about $5.1 billion was down by about 10.6% year over year, while its adjusted earnings per share were $1.11, down from $1.72 in the prior-year quarter. The company blamed the pandemic, which hurt some of its products' sales, for its poor performance. But long-term investors should look beyond these disappointing results for a few reasons.
First, the U.S. Food and Drug Administration (FDA) issued an emergency use authorization for remdesivir back in May, and the drug was also given the green light in Europe in June. The company should be able to generate some sales from this drug in the coming months.
Second, Gilead remains one of the leaders in the HIV market. The company's HIV and HIV prep products performed comparatively well during the second quarter. Sales in the segment, which made up roughly 79% of the company's revenue during the quarter, declined by 1% to $4 billion. While sales of its hepatitis C products plunged by 47% to $448 million, this segment accounted for just 9% of the company's revenue.
Image source: Getty Images.
During Gilead Sciences' second-quarterearnings call CEO Daniel O'Day said that the company's Biktarvy drug has become the "gold standard in HIV treatment." The company boasts other top-performing products in this segment as well.
Lastly, Gilead Sciences boasts a rich pipeline; in particular, it is awaiting a decision from regulators in the U.S. and Europe on filgotinib, a potential treatment for rheumatoid arthritis (RA).
I think it's likely that this drug will be approved and will go on to become a key growth driver for the company, especially considering its edge over its competitors, including AbbVie's (NYSE: ABBV) Humira and Johnson & Johnson's (NYSE: JNJ) Remicade. As Gilead's chief commercial officer, Johanna Mercier, said: "Despite currently available treatment options, many patients are still living with symptoms of inadequately controlled RA around the world. In fact, only one out of five patients living with RA achieve complete remission at year one, which means four to five do not. Filgotinib has a compelling and differentiated clinical profile that we believe may uniquely address the significant unmet need for patients with RA."
For all these reasons, and given that Gilead Sciences is currently trading at just 9.9 times future earnings, I think this healthcare stock is a buy.
Sorrento Therapeutics' hopes hang on its COVID-19 programs
Sorrento Therapeutics is attacking COVID-19 from all fronts. The company boasts potential vaccines, treatments, and diagnostic tests for the disease. Let's go through several of these.
First, the company has developed a neutralizing antibody called COVI-GUARD (also known as STI-1499), which management claimed in May had demonstrated the ability to completely neutralize the SARS-CoV-2 virus that causes COVID-19 in pre-clinical trials.
Second, there's abivertinib, which the company is testing in a phase 2 clinical trial for COVID-19 patients with moderate to severe manifestations of the disease. It is investigating the efficacy of abivertinib on hospitalized patients who have suffered a cytokine storm, a potentially deadly immune reaction that some COVID-19 patients experience.
Third, Sorrento Therapeutics has developed COVI-TRACK, a diagnostic test that it says can detect antibodies to the SARS-CoV-2 virus in eight minutes or less. The FDA is currently reviewing the company's application for an emergency use authorization for this test.
Sorrento doesn't have much going on outside its COVID-19 programs, however. And while the company's coronavirus-related work may seem impressive at first glance, let's not forget that it faces stiff competition across the range of the products it is working on.
Notable companies that have already developed successful tests for COVID-19 include Abbott Laboratories (NYSE: ABT) and Roche Holdings (OTC: RHHBY). While no vaccines for the disease have been approved yet, such biotechs as Moderna (NASDAQ: MRNA), Novavax (NASDAQ: NVAX), and Pfizer (NYSE: PFE) are much further along with their efforts.
What will matter at the end is which products are most effective, so even if Sorrento is behind right now, things could change quickly in its favor. But given what we know now, that outcome seems very optimistic. Investors looking at coronavirus stocks should look elsewhere, since Sorrento Therapeutics seems too risky at the moment.
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Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Gilead Sciences. The Motley Fool recommends Johnson & Johnson. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Notable companies that have already developed successful tests for COVID-19 include Abbott Laboratories (NYSE: ABT) and Roche Holdings (OTC: RHHBY). A peek at the stocks in the most recent ranking (as of this writing) reveals that Robinhood investors have been busy buying shares of companies that are involved in the development of vaccines or treatments for the coronavirus. Lastly, Gilead Sciences boasts a rich pipeline; in particular, it is awaiting a decision from regulators in the U.S. and Europe on filgotinib, a potential treatment for rheumatoid arthritis (RA). | Notable companies that have already developed successful tests for COVID-19 include Abbott Laboratories (NYSE: ABT) and Roche Holdings (OTC: RHHBY). In particular, Gilead Sciences (NASDAQ: GILD) and Sorrento Therapeutics (NASDAQ: SRNE) both feature on the list. The company boasts potential vaccines, treatments, and diagnostic tests for the disease. | Notable companies that have already developed successful tests for COVID-19 include Abbott Laboratories (NYSE: ABT) and Roche Holdings (OTC: RHHBY). A peek at the stocks in the most recent ranking (as of this writing) reveals that Robinhood investors have been busy buying shares of companies that are involved in the development of vaccines or treatments for the coronavirus. In particular, Gilead Sciences (NASDAQ: GILD) and Sorrento Therapeutics (NASDAQ: SRNE) both feature on the list. | Notable companies that have already developed successful tests for COVID-19 include Abbott Laboratories (NYSE: ABT) and Roche Holdings (OTC: RHHBY). In particular, Gilead Sciences (NASDAQ: GILD) and Sorrento Therapeutics (NASDAQ: SRNE) both feature on the list. Meanwhile, Sorrento Therapeutics boasts several coronavirus-related products in its pipeline. |
32530.0 | 2020-08-07 00:00:00 UTC | The Next Bull Run Will Be Harder For Sorrento Therapeutics | ABT | https://www.nasdaq.com/articles/the-next-bull-run-will-be-harder-for-sorrento-therapeutics-2020-08-07 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
CNBC’s Jim Cramer recently discussed some of the “clueless buying” that’s been taking place in the markets. In particular, the Mad Money host is confounded about the Aug. 4 buying in Sorrento Therapeutics (NASDAQ:SRNE) stock.
Source: Shutterstock
The longtime investment guru recommended SRNE stock several weeks ago when it was trading at $8.
Interestingly, while Cramer’s bullish about the company’s prospects due to its 30-minute spit test for the novel coronavirus, he has a hard time understanding why Sorrento’s stock was up 30% a week after Sorrento’s announcement.
“Turns out the market was just stupid because today, on the exact same news … | InvestorPlace - Stock Market News, Stock Advice & Trading Tips CNBC’s Jim Cramer recently discussed some of the “clueless buying” that’s been taking place in the markets. In particular, the Mad Money host is confounded about the Aug. 4 buying in Sorrento Therapeutics (NASDAQ:SRNE) stock. Source: Shutterstock The longtime investment guru recommended SRNE stock several weeks ago when it was trading at $8. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips CNBC’s Jim Cramer recently discussed some of the “clueless buying” that’s been taking place in the markets. In particular, the Mad Money host is confounded about the Aug. 4 buying in Sorrento Therapeutics (NASDAQ:SRNE) stock. Source: Shutterstock The longtime investment guru recommended SRNE stock several weeks ago when it was trading at $8. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips CNBC’s Jim Cramer recently discussed some of the “clueless buying” that’s been taking place in the markets. In particular, the Mad Money host is confounded about the Aug. 4 buying in Sorrento Therapeutics (NASDAQ:SRNE) stock. Interestingly, while Cramer’s bullish about the company’s prospects due to its 30-minute spit test for the novel coronavirus, he has a hard time understanding why Sorrento’s stock was up 30% a week after Sorrento’s announcement. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips CNBC’s Jim Cramer recently discussed some of the “clueless buying” that’s been taking place in the markets. In particular, the Mad Money host is confounded about the Aug. 4 buying in Sorrento Therapeutics (NASDAQ:SRNE) stock. Source: Shutterstock The longtime investment guru recommended SRNE stock several weeks ago when it was trading at $8. |
32531.0 | 2020-08-04 00:00:00 UTC | Abbott Begins Study To Evaluate New Device To Treat Recurrent Atrial Fibrillation | ABT | https://www.nasdaq.com/articles/abbott-begins-study-to-evaluate-new-device-to-treat-recurrent-atrial-fibrillation-2020-08 | nan | nan | (RTTNews) - Abbott (ABT) announced first enrollments in the TactiFlex PAF IDE study to evaluate a new device to treat people suffering from paroxysmal atrial fibrillation or PAF, a type of irregular heartbeat.
The study will evaluate the performance of the investigational TactiFlex Ablation Catheter, Sensor Enabled (SE) for people whose atrial fibrillation (AFib) symptoms are unable to be managed by medication.
The company noted that the TactiFlex PAF IDE study will enroll 355 patients at multiple sites worldwide. Patients enrolled in the trial will receive an ablation procedure using Abbott's TactiFlex Ablation Catheter, SE. Data collected from the study will be submitted to support global regulatory approvals.
The TactiFlex Ablation Catheter, SE is being clinically evaluated as part of the TactiFlex PAF IDE - a global study - and is not yet commercially available.
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 first enrollments in the TactiFlex PAF IDE study to evaluate a new device to treat people suffering from paroxysmal atrial fibrillation or PAF, a type of irregular heartbeat. The study will evaluate the performance of the investigational TactiFlex Ablation Catheter, Sensor Enabled (SE) for people whose atrial fibrillation (AFib) symptoms are unable to be managed by medication. The company noted that the TactiFlex PAF IDE study will enroll 355 patients at multiple sites worldwide. | (RTTNews) - Abbott (ABT) announced first enrollments in the TactiFlex PAF IDE study to evaluate a new device to treat people suffering from paroxysmal atrial fibrillation or PAF, a type of irregular heartbeat. The study will evaluate the performance of the investigational TactiFlex Ablation Catheter, Sensor Enabled (SE) for people whose atrial fibrillation (AFib) symptoms are unable to be managed by medication. The company noted that the TactiFlex PAF IDE study will enroll 355 patients at multiple sites worldwide. | (RTTNews) - Abbott (ABT) announced first enrollments in the TactiFlex PAF IDE study to evaluate a new device to treat people suffering from paroxysmal atrial fibrillation or PAF, a type of irregular heartbeat. The study will evaluate the performance of the investigational TactiFlex Ablation Catheter, Sensor Enabled (SE) for people whose atrial fibrillation (AFib) symptoms are unable to be managed by medication. The TactiFlex Ablation Catheter, SE is being clinically evaluated as part of the TactiFlex PAF IDE - a global study - and is not yet commercially available. | (RTTNews) - Abbott (ABT) announced first enrollments in the TactiFlex PAF IDE study to evaluate a new device to treat people suffering from paroxysmal atrial fibrillation or PAF, a type of irregular heartbeat. The study will evaluate the performance of the investigational TactiFlex Ablation Catheter, Sensor Enabled (SE) for people whose atrial fibrillation (AFib) symptoms are unable to be managed by medication. Patients enrolled in the trial will receive an ablation procedure using Abbott's TactiFlex Ablation Catheter, SE. |
32532.0 | 2020-08-04 00:00:00 UTC | 3 Key Questions to Answer Before Buying Sorrento Therapeutics Stock | ABT | https://www.nasdaq.com/articles/3-key-questions-to-answer-before-buying-sorrento-therapeutics-stock-2020-08-04 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
From relative obscurity to becoming one of the hottest names on Wall Street, Sorrento Therapeutics (NASDAQ:SRNE) stock has enjoyed quite a ride. In recent weeks, Sorrento’s CEO, Dr. Henry Ji, has made astounding claims, first regarding an incredibly effective treatment for the novel coronavirus and second, a quick, cheap and accurate testing diagnostics mechanism. With so much interest in this space, it’s no wonder that SRNE stock has skyrocketed.
Source: Shutterstock
Still, all investments have risks. Given the extreme sentiment in the biotechnology space, I’ve got to question whether the enthusiasm is getting overheated.
For the purposes of this article, I’d like to pose three questions that all prospective buyers should ask before taking a position in SRNE stock.
Before I get to this, though, I recognize that some segments of the investing community have become aggressively vitriolic. So, let’s take a breather and cool down the temperature.
I previously worked at Sorrento Therapeutics, so I know the company reasonably well. In addition, the organization has treated me generously and has given me a letter of recommendation. I have zero incentive to bad mouth them.
At the same time, you must separate the science of SRNE stock and the business of it. And what I’m seeing is a complete disconnect between the investment thesis and buyer rationale. If you want to buy Sorrento shares, great! But do so because you understand what you’re doing, not because someone will call you “beta” if you don’t.
Speaking of which, if you want to discuss this (or any) story with me, write to me at feedback2josh@gmail.com. Forget the cyberstalking, anonymous threats and other shenanigans. Let’s be real alphas.
The Premise Behind SRNE Stock
Before we begin, it’s important to establish that Sorrento Therapeutics is primarily an oncology firm. Its laboratories were built out for antibodies. Keep this in mind as it will crystallize my argument later.
7 Dividend Stocks to Buy for Beginners to Income Investing
Presumably, though, Sorrento saw an opportunity with the novel coronavirus. And no one should blame management for that. If life gives you lemons, make lemonade. Clearly, Sorrento took that to heart and delivered a two-front solution to our battle against Covid-19.
First, Sorrento is developing its antibody STI-1499, which “could serve as an effective treatment in blocking the virus,” according to San Diego’s CBS8.com. Second, Sorrento developed a 30-minute spit test for Covid-19. It’s the latter point where I wish to direct my analysis. According to Barron’s:
A paper by the Columbia University Medical Center team that developed the test, published in June on a so-called preprint server and not yet peer reviewed, said that the test had a true positive rate of 97%, and a true negative rate of 100%, based on 60 samples.
What’s more, competitor Abbott Laboratories (NYSE:ABT) has suffered setbacks regarding its testing accuracy. If Sorrento’s claims are proven valid through additional testing and peer review, it could change the game for SRNE stock. As well, to Dr. Ji’s point, “You could open up the whole country, the whole society.”
And if Sorrento found the cure for all diseases, SRNE stock would trade at a monumental premium. But as you know, anyone can make claims. Here are three questions to consider, beginning with the pivot.
Will the Abrupt Shift Work?
As I stated earlier, Sorrento is an oncology firm. So, while I don’t blame them for making the hard transition to Covid-19 therapies and diagnostic testing, it should give you some pause about getting too deeply involved with SRNE stock.
At the very least, you should consider the probability of a hard pivot being successful. Bear in mind that the leaders in the diagnostic space are Abbott and Roche Holding (OtherOTC:RHHBY). As I just mentioned, Abbott has fielded many questions about its testing accuracy. It’s hard to believe that Sorrento won’t at least face some setbacks when rigorous testing, including peer review and broadening the test sample size, are incorporated.
As well, Sorrento is behind Gilead Sciences (NASDAQ:GILD) in the therapy field. That’s not to say that SRNE stock will collapse from here on out. Some biotechs have successfully pivoted their operations. And being behind isn’t a death sentence.
However, it’s fair to point out that when time is of the essence, being behind is not ideal.
Questions about Colorimetric Accuracy
While most SRNE investors know about the spit test, arguably few have deep dived into the details of it. I’m only going to give a summary. With that said, if you’re going to bet the house on SRNE stock, you better do your due diligence.
The basis for Sorrento’s diagnostic test involves a scientific technique called colorimetry. According to Columbia University’s research paper — and please read this if you’re going to gamble on SRNE stock — the test works via a heavily modified process called Reverse Transcription Loop-mediated isothermal Amplification.
Again, read the paper for the details. But in summary, Sorrento’s test involves technicians applying fluorophores that bind to the Covid-19 RNA and amplifies it relative to the testing background. The fluorophores emit wavelengths visible to the human eye (yellow is positive, red is negative). Hence, the results are given colorimetrically, but also — and this is a huge question mark — qualitatively.
What happens if the test result arrives to an “in between” color, like orange? How would you interpret this data? This is why peer review is so important in science and particularly with biotech claims.
Also, colorimetric tests aren’t the most reliable. And this is a crucial point longer term, especially if these tests are going to determine who gets to fly on an airplane, as an example.
Economics of Sorrento’s Testing May Not Pan Out
What appeals to investors of Sorrento Therapeutics stock is that the underlying test isn’t just quick and accurate but also cheap. That should immediately trigger skepticism because we’ve seen radical claims before about the marriage of convenience, cost and accuracy. In its most extreme case, we have disgraced Theranos founder Elizabeth Holmes.
I’m not comparing Sorrento to Theranos, so please stop typing. What I’m saying is that you should apply the same skepticism to any biotech claim as you would promises from a used-car salesman.
Indeed, many biotech experts have raised questions about the actual cost required to roll this out. Remember when I said that Sorrento is in the antibodies business? Well, who’s going to manufacture the diagnostic tests, along with the specialized enzymes necessary to actualize these tests? It has to be contracted out, which will add to the overall costs.
Speaking of enzymes, the tests require tons of them and other reagents. And that’s per sample, folks! In addition, Dr. Tal Raviv tweeted that Sorrento’s tests will require mini warmers, collection tubes, and prefilled regents. Plus, according to his post, it will take months to commercialize at best.
Please don’t attack Dr. Raviv. He’s merely speaking sense to the mania.
Some might retort, who cares if the tests come in more expensive than advertised? Well, if it gets too expensive, it may turn into a political and PR nightmare.
Consider that the Covid-19 pandemic has disproportionately affected communities of color. We’re not just talking about health-related challenges but also economic pain.
Now imagine that this easy, convenient test is priced largely for well-to-do folks. It’s just not a good look as I’m sure you can understand.
SRNE Could Still Be a Winner
As I mentioned near the top, you have to separate the science of SRNE and its business, in this case, the investment proposition. Know that when you buy Sorrento shares, you’re mostly gambling that the science works out. And it very well could. But believing it could go well and actually going well are two different concepts. Also note that things can go awry, as it did for Abbott.
However, there’s another element at play — extreme enthusiasm for SRNE stock. And this alone, for the time being, can skyrocket shares. Thus, I wouldn’t be bearish on this company, no way. Heck, I might even join you fine folks for a quick turn at the casino.
But at some point, those who have profited handsomely will exit the markets. When they do, we could see a dramatic collapse in SRNE. No one knows when that will be. But I advise that if your investment thesis involves waging a “war against the shorts,” you’re directing your vitriol at the wrong party.
It’s the longs — those that have been stirring themselves into a frenzy — that you have to worry about.
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. As of this writing, he did not hold a position in any of the aforementioned securities.
The post 3 Key Questions to Answer Before Buying Sorrento Therapeutics Stock 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. | What’s more, competitor Abbott Laboratories (NYSE:ABT) has suffered setbacks regarding its testing accuracy. In recent weeks, Sorrento’s CEO, Dr. Henry Ji, has made astounding claims, first regarding an incredibly effective treatment for the novel coronavirus and second, a quick, cheap and accurate testing diagnostics mechanism. So, while I don’t blame them for making the hard transition to Covid-19 therapies and diagnostic testing, it should give you some pause about getting too deeply involved with SRNE stock. | What’s more, competitor Abbott Laboratories (NYSE:ABT) has suffered setbacks regarding its testing accuracy. InvestorPlace - Stock Market News, Stock Advice & Trading Tips From relative obscurity to becoming one of the hottest names on Wall Street, Sorrento Therapeutics (NASDAQ:SRNE) stock has enjoyed quite a ride. According to Barron’s: A paper by the Columbia University Medical Center team that developed the test, published in June on a so-called preprint server and not yet peer reviewed, said that the test had a true positive rate of 97%, and a true negative rate of 100%, based on 60 samples. | What’s more, competitor Abbott Laboratories (NYSE:ABT) has suffered setbacks regarding its testing accuracy. InvestorPlace - Stock Market News, Stock Advice & Trading Tips From relative obscurity to becoming one of the hottest names on Wall Street, Sorrento Therapeutics (NASDAQ:SRNE) stock has enjoyed quite a ride. If Sorrento’s claims are proven valid through additional testing and peer review, it could change the game for SRNE stock. | What’s more, competitor Abbott Laboratories (NYSE:ABT) has suffered setbacks regarding its testing accuracy. So, while I don’t blame them for making the hard transition to Covid-19 therapies and diagnostic testing, it should give you some pause about getting too deeply involved with SRNE stock. That’s not to say that SRNE stock will collapse from here on out. |
32533.0 | 2020-08-03 00:00:00 UTC | IHI, ABT, BDX, BSX: Large Inflows Detected at ETF | ABT | https://www.nasdaq.com/articles/ihi-abt-bdx-bsx%3A-large-inflows-detected-at-etf-2020-08-03 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares U.S. Medical Devices ETF (Symbol: IHI) where we have detected an approximate $219.8 million dollar inflow -- that's a 2.9% increase week over week in outstanding units (from 25,700,000 to 26,450,000). Among the largest underlying components of IHI, in trading today Abbott Laboratories (Symbol: ABT) is up about 0.4%, Becton, Dickinson & Co (Symbol: BDX) is up about 0.1%, and Boston Scientific Corp. (Symbol: BSX) is relatively unchanged. For a complete list of holdings, visit the IHI Holdings page » The chart below shows the one year price performance of IHI, versus its 200 day moving average:
Looking at the chart above, IHI's low point in its 52 week range is $183.25 per share, with $296.755 as the 52 week high point — that compares with a last trade of $295.15. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of IHI, in trading today Abbott Laboratories (Symbol: ABT) is up about 0.4%, Becton, Dickinson & Co (Symbol: BDX) is up about 0.1%, and Boston Scientific Corp. (Symbol: BSX) is relatively unchanged. For a complete list of holdings, visit the IHI Holdings page » The chart below shows the one year price performance of IHI, versus its 200 day moving average: Looking at the chart above, IHI's low point in its 52 week range is $183.25 per share, with $296.755 as the 52 week high point — that compares with a last trade of $295.15. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of IHI, in trading today Abbott Laboratories (Symbol: ABT) is up about 0.4%, Becton, Dickinson & Co (Symbol: BDX) is up about 0.1%, and Boston Scientific Corp. (Symbol: BSX) is relatively unchanged. For a complete list of holdings, visit the IHI Holdings page » The chart below shows the one year price performance of IHI, versus its 200 day moving average: Looking at the chart above, IHI's low point in its 52 week range is $183.25 per share, with $296.755 as the 52 week high point — that compares with a last trade of $295.15. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ». | Among the largest underlying components of IHI, in trading today Abbott Laboratories (Symbol: ABT) is up about 0.4%, Becton, Dickinson & Co (Symbol: BDX) is up about 0.1%, and Boston Scientific Corp. (Symbol: BSX) is relatively unchanged. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares U.S. Medical Devices ETF (Symbol: IHI) where we have detected an approximate $219.8 million dollar inflow -- that's a 2.9% increase week over week in outstanding units (from 25,700,000 to 26,450,000). For a complete list of holdings, visit the IHI Holdings page » The chart below shows the one year price performance of IHI, versus its 200 day moving average: Looking at the chart above, IHI's low point in its 52 week range is $183.25 per share, with $296.755 as the 52 week high point — that compares with a last trade of $295.15. | Among the largest underlying components of IHI, in trading today Abbott Laboratories (Symbol: ABT) is up about 0.4%, Becton, Dickinson & Co (Symbol: BDX) is up about 0.1%, and Boston Scientific Corp. (Symbol: BSX) is relatively unchanged. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares U.S. Medical Devices ETF (Symbol: IHI) where we have detected an approximate $219.8 million dollar inflow -- that's a 2.9% increase week over week in outstanding units (from 25,700,000 to 26,450,000). For a complete list of holdings, visit the IHI Holdings page » The chart below shows the one year price performance of IHI, versus its 200 day moving average: Looking at the chart above, IHI's low point in its 52 week range is $183.25 per share, with $296.755 as the 52 week high point — that compares with a last trade of $295.15. |
32534.0 | 2020-08-01 00:00:00 UTC | 3 Safe Stocks to Hold Through the Next Market Crash | ABT | https://www.nasdaq.com/articles/3-safe-stocks-to-hold-through-the-next-market-crash-2020-08-01 | nan | nan | Do you want to stop checking on your portfolio and worrying about whether it's up or down? You can avoid many of the headaches involved with investing if you stick to buying blue-chip stocks that you plan to hold for decades rather than years or months. This can simplify your investing strategy while also minimizing your long-term risk.
Below are three solid stocks that you can buy and forget about. Each is in a good position to withstand any adversity in the markets, including crashes. And they'll likely be great sources of recurring income for your portfolio for many years to come.
1. Abbott Laboratories
Abbott Laboratories (NYSE: ABT) makes for a terrific investment for many reasons. For long-term investors, it starts with the Illinois-based company's rich history of dividend growth. This year, it hiked its dividend by 12.5%, marking the 48th year in a row that shareholders saw their dividend income rise. Abbott is well on its way to becoming a Dividend King in a couple of years.The dividend currently yields about 1.4% annually, a bit short of the S&P 500 average of 2%.
Image source: Getty Images.
Another reason Abbott makes for a solid investment is that its business is so diverse. Medical device sales accounted for 38% of its total revenue in 2019, while diagnostic and nutritional products each made up about 24% of sales. Pharmaceutical sales, which totaled $4.5 billion, accounted for the smallest piece of the top line at just over 14%. Abbott also sells its products all over the world, and the U.S. market represented just 36% of its revenue this past year.
With diversification through its products and geographical areas, Abbott has many opportunities to deliver more growth in the years to come. And only once during the last 10 years has its profit margin failed to top 5%.
The company's also been integral in COVID-19 testing, shipping out 5.3 million of its rapid ID NOW tests throughout the country in an effort to help stop the spread of the coronavirus.
2. Coca-Cola
Beverage maven Coca-Cola (NYSE: KO) has some similarities with Abbott. Like the healthcare giant, Coca-Cola investors see regular increases to their dividend payments. And while Abbott's on the verge of hitting the 50-year mark for consecutive increases, Coca-Cola's already well past that threshold. On Feb. 20, the Georgia-based company raised its payouts for the 58th year in a row, from $1.60 to $1.64 annually. The stock's current dividend yield is 3.4%.
And like Abbott, the company's business is diverse, with more than 500 brands around the world and its products sold in more than 200 countries. Coca-Cola's even less exposed to the U.S. than Abbott, with just 31% of its sales in 2019 coming from its home market. In nine of the past 10 years, Coca-Cola's netted an impressive profit margin of at least 15%.
COVID-19 has hit the company hard, with net sales in the second quarter down 28% year over year. Many restaurants and other businesses were shut down during the quarter, affecting demand for Coca-Cola's products. However, there's little doubt the company will rebound once the economy gets back to normal.
With solid fundamentals and an impressive dividend, it's little wonder that this is one of Warren Buffett's top stocks.
3. IBM
International Business Machines (NYSE: IBM) is another household name that long-term investors can buy and forget. The New York-based company isn't anywhere near Coca-Cola or Abbott when it comes to its dividend streak, but it did recently join the club of Dividend Aristocrats after announcing that it would be increasing its payouts for a 25th year in a row on April 28.
Its quarterly cash payment of $1.63 means that investors who buy shares of the company today will be earning a yield of about 5.3% -- the highest on this list.
And IBM is yet another company with a diverse mix of revenue. From cloud software to business and technology services and beyond, the company's in an excellent position to add value to businesses, especially as they move to the cloud. Its acquisition of Red Hat last year has only added to both IBM's customer base and its capabilities. In 2019, 37% of IBM's sales came from the U.S., so it too generates the bulk of its revenue from other markets.
In second-quarter results July 20, sales were down 5% year over year, but total cloud revenue was up 30% and Red Hat's sales grew by 17%. And like the other companies on this list, IBM is no stranger to a a strong bottom line, recording a profit margin of at least 10% in all but one of the past 10 years.
Which stock should you buy today?
Here's a look at how all the stocks are doing this year compared with the S&P 500:
ABT data by YCharts
Only Abbott's outperformed the index this year, likely because of its involvement in COVID-19 testing and the positive press surrounding that. All these stocks are good buys, but let's take a look at their respective price-to-earnings ratios to narrow down which one provides the best bang for its buck right now:
ABT PE Ratio data by YCharts
Thanks to its more modest valuation, I'd go with IBM. The tech stock is still generating some good growth in certain areas of its business, and with more businesses moving toward remote work and the cloud, it looks like there will be many opportunities for even more growth ahead. It's also hard to go wrong with the highest dividend yield on this list.
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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 Abbott Laboratories (NYSE: ABT) makes for a terrific investment for many reasons. Here's a look at how all the stocks are doing this year compared with the S&P 500: ABT data by YCharts Only Abbott's outperformed the index this year, likely because of its involvement in COVID-19 testing and the positive press surrounding that. All these stocks are good buys, but let's take a look at their respective price-to-earnings ratios to narrow down which one provides the best bang for its buck right now: ABT PE Ratio data by YCharts Thanks to its more modest valuation, I'd go with IBM. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) makes for a terrific investment for many reasons. Here's a look at how all the stocks are doing this year compared with the S&P 500: ABT data by YCharts Only Abbott's outperformed the index this year, likely because of its involvement in COVID-19 testing and the positive press surrounding that. All these stocks are good buys, but let's take a look at their respective price-to-earnings ratios to narrow down which one provides the best bang for its buck right now: ABT PE Ratio data by YCharts Thanks to its more modest valuation, I'd go with IBM. | Here's a look at how all the stocks are doing this year compared with the S&P 500: ABT data by YCharts Only Abbott's outperformed the index this year, likely because of its involvement in COVID-19 testing and the positive press surrounding that. Abbott Laboratories Abbott Laboratories (NYSE: ABT) makes for a terrific investment for many reasons. All these stocks are good buys, but let's take a look at their respective price-to-earnings ratios to narrow down which one provides the best bang for its buck right now: ABT PE Ratio data by YCharts Thanks to its more modest valuation, I'd go with IBM. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) makes for a terrific investment for many reasons. Here's a look at how all the stocks are doing this year compared with the S&P 500: ABT data by YCharts Only Abbott's outperformed the index this year, likely because of its involvement in COVID-19 testing and the positive press surrounding that. All these stocks are good buys, but let's take a look at their respective price-to-earnings ratios to narrow down which one provides the best bang for its buck right now: ABT PE Ratio data by YCharts Thanks to its more modest valuation, I'd go with IBM. |
32535.0 | 2020-07-29 00:00:00 UTC | Boston Scientific posts surprise profit as demand for elective surgery picks up | ABT | https://www.nasdaq.com/articles/boston-scientific-posts-surprise-profit-as-demand-for-elective-surgery-picks-up-2020-07-29 | nan | nan | Adds background, shares, estimates
July 29 (Reuters) - Boston Scientific Corp BSX.N reported a surprise second-quarter profit on Wednesday, as elective procedures slowly started picking pace following the easing of coronavirus-induced restrictions in several U.S. states.
The company's shares were up 2.3% before the bell in low volumes.
Boston Scientific in April warned of a sharp hit from the pandemic, at a time when the lockdowns had brought elective surgeries to a halt.
Elective procedures rebounded in May and approached pre-crisis levels by June-end, as restrictions eased in some states, according to health insurer UnitedHealth Group Inc UNH.N and medical device maker Abbott Laboratories ABT.N.
Boston Scientific's medical devices unit, its biggest, brought in revenue of $1.94 billion in the quarter, 26.5% lower than last year.
Net loss attributable to the company was $153 million in the quarter ended June 30. Excluding items, it earned 8 cents per share, compared with analysts' estimates for a loss of 2 cents per share, according to IBES data from Refinitiv.
Revenue fell 23.8% to $2.00 billion, but was ahead of estimates of $1.73 billion.
(Reporting by Trisha Roy and Mrinalika Roy in Bengaluru; Editing by Devika Syamnath and Shounak Dasgupta)
((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. | Elective procedures rebounded in May and approached pre-crisis levels by June-end, as restrictions eased in some states, according to health insurer UnitedHealth Group Inc UNH.N and medical device maker Abbott Laboratories ABT.N. Adds background, shares, estimates July 29 (Reuters) - Boston Scientific Corp BSX.N reported a surprise second-quarter profit on Wednesday, as elective procedures slowly started picking pace following the easing of coronavirus-induced restrictions in several U.S. states. Boston Scientific in April warned of a sharp hit from the pandemic, at a time when the lockdowns had brought elective surgeries to a halt. | Elective procedures rebounded in May and approached pre-crisis levels by June-end, as restrictions eased in some states, according to health insurer UnitedHealth Group Inc UNH.N and medical device maker Abbott Laboratories ABT.N. Adds background, shares, estimates July 29 (Reuters) - Boston Scientific Corp BSX.N reported a surprise second-quarter profit on Wednesday, as elective procedures slowly started picking pace following the easing of coronavirus-induced restrictions in several U.S. states. Boston Scientific's medical devices unit, its biggest, brought in revenue of $1.94 billion in the quarter, 26.5% lower than last year. | Elective procedures rebounded in May and approached pre-crisis levels by June-end, as restrictions eased in some states, according to health insurer UnitedHealth Group Inc UNH.N and medical device maker Abbott Laboratories ABT.N. Adds background, shares, estimates July 29 (Reuters) - Boston Scientific Corp BSX.N reported a surprise second-quarter profit on Wednesday, as elective procedures slowly started picking pace following the easing of coronavirus-induced restrictions in several U.S. states. Boston Scientific's medical devices unit, its biggest, brought in revenue of $1.94 billion in the quarter, 26.5% lower than last year. | Elective procedures rebounded in May and approached pre-crisis levels by June-end, as restrictions eased in some states, according to health insurer UnitedHealth Group Inc UNH.N and medical device maker Abbott Laboratories ABT.N. Adds background, shares, estimates July 29 (Reuters) - Boston Scientific Corp BSX.N reported a surprise second-quarter profit on Wednesday, as elective procedures slowly started picking pace following the easing of coronavirus-induced restrictions in several U.S. states. The company's shares were up 2.3% before the bell in low volumes. |
32536.0 | 2020-07-28 00:00:00 UTC | 3 Rock-Solid Healthcare Stocks to Buy in a Market Crash | ABT | https://www.nasdaq.com/articles/3-rock-solid-healthcare-stocks-to-buy-in-a-market-crash-2020-07-28 | nan | nan | During a market crash, it can be common for investors to worry that the stocks they're buying at a dirt-cheap price might not rebound -- that they might experience extended declines and never recover. That's the worst-case scenario, of course. In most cases, if we invest in companies with profit and revenue growth, it's likely their shares will bounce back.
So let's talk about two healthcare stocks that have already done just that, and another that's on the way. Even considering their gains since the March crash, these rock-solid companies are still worth adding to your portfolio today.
Image source: Getty Images.
Illumina
One of the biggest reasons to like Illumina (NASDAQ: ILMN): It's the leader in the genome sequencing market. It holds a more than 70% share, according to Morningstar. The global DNA sequencing market, at a compounded annual growth rate of 19%, is expected to reach $25 billion by 2025, according to Allied Market Research. Another positive point: Illumina specializes in "short reads" of genetic material, considered more accurate than the "long-read" technique.
The coronavirus outbreak weighed on Illumina in the first quarter. Customers postponed genetic testing and the ordering of new systems, for example. The company noted that it expects the second quarter to be "extremely challenging." This might hurt shares in the short term, but this slowdown doesn't change my long-term optimism regarding Illumina. The company's annual revenue has climbed for 15 years, and in 2018, it crossed the $3 billion mark. Since 2014, earnings have climbed every year except one, when they remained stable. And earnings surpassed analysts' average estimates in the past four quarters.
There is always the possibility of a new technology dethroning Illumina. But barriers to entry are high, which means any upset to the company's market share won't happen overnight. Illumina shares have erased their market-crash losses and are now up 15% this year. Considering the company's market share and earnings track record, I would expect the shares to rebound in future times of trouble as well.
Bristol Myers Squibb
With the acquisition of Celgene last fall, Bristol Myers Squibb (NYSE: BMY) obtained multiple myeloma blockbusters Revlimid and Pomalyst. The drugs' revenue climbed 13% to $2.9 billion and 28% to $713 million, respectively, in the first quarter from the year-earlier period. Bristol Myers Squibb already had five blockbusters prior to the Celgene purchase. And not counting the Celgene drugs, four of Bristol Myers Squibb's drugs posted revenue growth as high as 37% in the first quarter.
The coronavirus outbreak might continue to weigh on business, because the crisis isn't over. But Bristol Myers Squibb's solid portfolio and full pipeline should assure a rebound. The company has more than 50 compounds in development, and there's plenty of potential for growth on the horizon. An example is cancer drug Opdivo, which generated $1.8 billion in revenue in the first quarter. The U.S. Food and Drug Administration (FDA) recently approved Opdivo and the company's Yervoy as a combination treatment for certain forms of lung cancer -- the drug's sixth indication. And in June, Bristol Myers Squibb launched Zeposia, its newly approved oral medication for relapsing forms of multiple sclerosis.
Bristol Myers Squibb's share price has rebounded 25% since the market crash, paring its decline to 10% for the year. Wall Street expects shares to climb by 23% in the next 12 months. That seems reasonable, considering the growth gained from the Celgene acquisition.
Abbott Labs
Abbott Laboratories' (NYSE: ABT) annual revenue has been climbing for the past three years, and earnings have been rising for the past two. Abbott has made headlines in recent months with its COVID-19 detection tests. The company's molecular diagnostics business posted a 234% gain in sales in the most recent quarter thanks to COVID-19 testing. But that wasn't enough to make up for business lost in other areas due to the focus on COVID-19 at hospitals and in labs. Abbott reported an 8.2% drop in global revenue.
Once the coronavirus crisis passes, COVID-19 testing might remain in demand. And even better, the rest of the company's revenue will likely return to normal levels as patients return to labs for other tests and orders for medical devices resume. In the quarter prior to the health crisis, revenue climbed 7.1%, with the nutrition, diagnostics, established pharmaceuticals, and medical devices segments all posting growth.
Another bright spot: The FDA recently cleared Abbott's FreeStyle Libre 2 glucose monitoring system. The previous version has been a big sales driver, with revenue climbing 37% in the most recent quarter.
Abbott's shares have rebounded 58% from their lowest point in March and are now up 14% for the year. As with Illumina and Bristol Myers Squibb, Abbott faces a temporary slowdown due to a very specific situation. A future market crash that's not linked to a health crisis would likely have much less of an effect on business at this healthcare company. That's why I would scoop up shares of Abbott in a market crash and hold on for the long term.
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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 Laboratories' (NYSE: ABT) annual revenue has been climbing for the past three years, and earnings have been rising for the past two. During a market crash, it can be common for investors to worry that the stocks they're buying at a dirt-cheap price might not rebound -- that they might experience extended declines and never recover. And in June, Bristol Myers Squibb launched Zeposia, its newly approved oral medication for relapsing forms of multiple sclerosis. | Abbott Labs Abbott Laboratories' (NYSE: ABT) annual revenue has been climbing for the past three years, and earnings have been rising for the past two. Bristol Myers Squibb With the acquisition of Celgene last fall, Bristol Myers Squibb (NYSE: BMY) obtained multiple myeloma blockbusters Revlimid and Pomalyst. And not counting the Celgene drugs, four of Bristol Myers Squibb's drugs posted revenue growth as high as 37% in the first quarter. | Abbott Labs Abbott Laboratories' (NYSE: ABT) annual revenue has been climbing for the past three years, and earnings have been rising for the past two. Bristol Myers Squibb With the acquisition of Celgene last fall, Bristol Myers Squibb (NYSE: BMY) obtained multiple myeloma blockbusters Revlimid and Pomalyst. And not counting the Celgene drugs, four of Bristol Myers Squibb's drugs posted revenue growth as high as 37% in the first quarter. | Abbott Labs Abbott Laboratories' (NYSE: ABT) annual revenue has been climbing for the past three years, and earnings have been rising for the past two. Considering the company's market share and earnings track record, I would expect the shares to rebound in future times of trouble as well. And not counting the Celgene drugs, four of Bristol Myers Squibb's drugs posted revenue growth as high as 37% in the first quarter. |
32537.0 | 2020-07-28 00:00:00 UTC | If You Had Invested $1,000 in Abbott Labs During the Last Recession, This Is How Much You Would Have Today | ABT | https://www.nasdaq.com/articles/if-you-had-invested-%241000-in-abbott-labs-during-the-last-recession-this-is-how-much-you | nan | nan | Abbott Laboratories (NYSE: ABT) is a blue-chip stock that has been at the forefront of coronavirus testing since the early days of the pandemic. The company has created five COVID-19 tests, including two antibody tests and three molecular tests. Abbott Labs is shipping millions of these tests to communities, medical providers, and laboratories around the world.
In the midst of a global recession, it's normal to think long and hard before investing your hard-earned money. If you're evaluating Abbott Labs to determine whether it may be a good coronavirus buy for your portfolio, it's a good idea to look back at how this stock performed during and after the previous economic downturn. The Great Recession started in December of 2007 and lasted for 18 months. We've been in the current recession since February of this year.
If you had invested $1,000 in Abbott Labs in the last recession, this is how much your investment would be worth today.
Image source: Getty Images.
Your $1,000 would have turned into ...
Despite the drastic market fluctuations that occurred in the last recession, shares of Abbott stock remained relatively stable during that year and a half. At the beginning of the Great Recession in December 2007, shares cost about $27 each. Abbott Labs was selling at roughly $21 per share in June 2009. If you had invested in Abbott in 2008, when the stock's average price was $25, and started with $1,000, you would have had enough to buy approximately 40 shares.
Today, that initial $1,000 would have turned into about $3,958. That's nearly four times your starting investment. A $10,000 investment in Abbott Labs then would be worth nearly $40,000 today.
How Abbott Labs has fared during the pandemic
Abbott's balance sheet was looking good pre-pandemic. In 2019, the company reported revenue of just less than $32 billion. In earnings results for the first quarter of 2020, released April 16, global reported sales were up 2.5% at nearly $8 billion, despite the pandemic. The company maintained a healthy cash flow of $3.7 billion in the first three months of 2020. Q1 sales in the company's medical device segment were up 1.4% on a reported basis, while the established pharmaceuticals segment saw a 5.2% boost in revenue. Revenue in Abbott's worldwide diagnostics segment declined 0.8% on a reported basis in the first quarter, attributable to a decline in standard testing due to the coronavirus.
Abbott released its Q2 earnings results on July 16. Although the company's second-quarter results outdid analysts' estimates at $7.3 billion, global sales plunged over 8%. In stark contrast to the first quarter, sales in Abbott's worldwide diagnostics division were up nearly 5%, with a $615 million boost from sales of coronavirus tests. Abbott's established pharmaceuticals and medical device segments, on the other hand, were down by 8.6% and 21.2%, respectively. On the flip side, sales in Abbott's diabetes care division were up nearly 37% on a reported basis. The U.S. Food and Drug Administration (FDA) also just approved the company's continuous glucose monitoring device, the FreeStyle Libre 2, in June for people with diabetes who are four years of age and up.
Is now a good time to invest in Abbott Labs?
Abbott pays a modest but reliable dividend, which yields about 1.5% -- a bit less than the S&P 500 average of 2%. The company has boosted its yield every year for 48 years in a row, which makes this stock a Dividend Aristocrat -- an attractive option for dividend investors.
Most companies have been affected to some extent by the ongoing pandemic and recession. While Abbott Labs has been no exception, its coronavirus tests have helped to counteract the negative effects the pandemic has had on its medical devices segment, which was booming before the coronavirus. The company also has a stable of other profitable products to fall back on, which is one of the main reasons it still managed to exceed analysts' expectations in the second quarter. Given the more than 130 years in business under its belt, I believe Abbott Labs will come out on top.
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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) is a blue-chip stock that has been at the forefront of coronavirus testing since the early days of the pandemic. Despite the drastic market fluctuations that occurred in the last recession, shares of Abbott stock remained relatively stable during that year and a half. The U.S. Food and Drug Administration (FDA) also just approved the company's continuous glucose monitoring device, the FreeStyle Libre 2, in June for people with diabetes who are four years of age and up. | Abbott Laboratories (NYSE: ABT) is a blue-chip stock that has been at the forefront of coronavirus testing since the early days of the pandemic. Revenue in Abbott's worldwide diagnostics segment declined 0.8% on a reported basis in the first quarter, attributable to a decline in standard testing due to the coronavirus. In stark contrast to the first quarter, sales in Abbott's worldwide diagnostics division were up nearly 5%, with a $615 million boost from sales of coronavirus tests. | Abbott Laboratories (NYSE: ABT) is a blue-chip stock that has been at the forefront of coronavirus testing since the early days of the pandemic. If you had invested $1,000 in Abbott Labs in the last recession, this is how much your investment would be worth today. While Abbott Labs has been no exception, its coronavirus tests have helped to counteract the negative effects the pandemic has had on its medical devices segment, which was booming before the coronavirus. | Abbott Laboratories (NYSE: ABT) is a blue-chip stock that has been at the forefront of coronavirus testing since the early days of the pandemic. If you had invested $1,000 in Abbott Labs in the last recession, this is how much your investment would be worth today. If you had invested in Abbott in 2008, when the stock's average price was $25, and started with $1,000, you would have had enough to buy approximately 40 shares. |
32538.0 | 2020-07-27 00:00:00 UTC | INSIGHT-The U.S. has more COVID-19 testing than most. So why is it falling so short? | ABT | https://www.nasdaq.com/articles/insight-the-u.s.-has-more-covid-19-testing-than-most.-so-why-is-it-falling-so-short-2020 | nan | nan | By Allison Martell and Ned Parker
July 27 (Reuters) - The United States might have more COVID-19 testing capacity than any other country. So why have we seen laboratories overwhelmed and many patients again waiting a week or more for results?
At the heart of the crisis is a reliance by public and private labs on automated testing equipment that locks them in to using proprietary chemical kits and other tools made by a handful of manufacturers.
The result: as infection rates spike nationwide, many labs aren't running anywhere near capacity because of supply-chain bottlenecks, according to Reuters interviews with 16 hospital, state, commercial and academic labs and an analysis of state and city procurement plans.
A few companies – Cepheid DHR.N, Hologic Inc HOLX.O, Roche ROG.S and Abbott Laboratories ABT.N – dominate this market. Their machines run on chemical kits and disposable plastic parts like sample plates and pipettes that only they sell, much like branded printer cartridges.
"The vendors are in an impossible situation right now where they can't say yes to everyone," said Geoffrey Baird, who runs the medical laboratory at the University of Washington.
U.S. labs now run about 800,000 diagnostic tests daily, according to the COVID Tracking Project. But the United States needs 6-10 million tests per day, by various estimates.
Congress has earmarked $11 billion to support this drive, and in May, states filed plans with the government describing the equipment and supplies they would buy.
But taken together, the plans show that public health officials are not addressing the core supply-chain problem, according to the Reuters analysis.
Many states planned to buy more of these automated machines from just two manufacturers, even though the same equipment was already running below capacity or idled in other states because of shortages of chemicals or parts.
Other countries, including China and Canada, have not been hamstrung to the same extent by supply shortages. Their use of less automated testing provided more flexibility in sourcing such materials.
NO SIMPLE SOLUTION
Early in the pandemic, testing looked similar globally. Lab workers would extract genetic material using one instrument, and then move to a second machine to identify it. But such multi-step tests are labor-intensive and require technical expertise.
Many U.S. labs now rely on the highly automated - or "sample-to-answer" - analyzers. But some experts say this has proved inadequate because of a lack of standardized chemicals and parts.
Gary Procop, who helps lead the Cleveland Clinic's labs, said the government could have used the Defense Production Act (DPA) to scale up multi-step tests, using existing instructions from the Centers for Disease Control and Prevention.
"That uses really standardized reagents," Procop said of the CDC test. "You could make that in a generic form, if you will, and take the companies out of it. And then you could actually mass-produce that type of a test. But nobody's done that."
The U.S. Department of Health and Human Services told Reuters the government had used the DPA to buy some testing supplies, but reagents used to run the CDC test are already available, so buying more would not help.
"As a result of working directly with companies to improve their supply chain, eliminate barriers, and investing through the DPA, we do expect supplies of each of these platforms to increase in the fall," spokeswoman Mia Heck said in a statement.
Health experts also caution there is no single, simple solution to testing in a once-in-a-century pandemic that has infected more than 16 million people and killed more than 640,000 worldwide.
In China, combining patients' samples to save supplies made it possible to test millions of Beijing residents in June, beating back a resurgent outbreak. But experts warn this method can increase false negative results and be ineffective when disease is prevalent.
Canada has built up a domestic supply chain for chemicals in multi-step tests, meaning most patients can be diagnosed within a few days. Yet this regime is more viable in a country with a fraction of the U.S. population.
"When you're asked to process more than 1,000 samples a day - or more than 4,000 as we are now doing - you have to do some of it on sample-to-answer platforms," said Alex Greninger, assistant director of University of Washington Medicine Clinical Virology Laboratories.
A RUN ON PANTHERS
By late April, Hologic, Cepheid, Roche and Abbott were all selling COVID-19 tests for their automated machines. Lab workers could load samples into the devices, sometimes hundreds at a time, and walk away.
Those companies became critical to the U.S. response. A May survey from the Association for Molecular Pathology (AMP) showed 47% of labs listed one of them as its primary COVID-19 testing system.
For states seeking to boost testing capacity, the most sought-after machine has been Hologic's Panther, which can process up to 1,000 tests in 24 hours, state filings show.
"The demand has been amazing. We feel very proud of the role we're playing," Hologic CEO Stephen MacMillan told an investor conference in June.
The company "had virtually every governor in the U.S. just talk to us directly over the last few weeks, months, pleading their case for why they need more," he said.
Twenty nine states and cities planned to buy a total of at least 51 Panthers, which are also used to test for HIV and other infections. Officials in Washington and North Carolina told Reuters they were still waiting on delivery.
However Hologic is not making enough COVID-19 kits to run on its existing machines - about 1,100 across the country - at capacity. At full tilt, the machines could process about 33 million tests per month, but the company makes roughly 4.8 million.
Hologic said its manufacturing teams were working around the clock while it hires more people and invests in new equipment to increase production. The company said it had already made "a huge contribution" to testing, making it possible for labs to generate more results with less hands-on time.
The runner-up in states' plans was Cepheid, with 45 of its GeneXpert machines on wish-lists. The company, which has about 25,000 machines worldwide, is making about 2 million tests per month - enough to run two or three tests globally per machine each day.
Cepheid is focusing on customers that need rapid results, like hospitals, said Chief Medical Officer David Persing. It is working on millions of new cartridges but does not expect a dramatic supply boost until mid-2021.
'WE WENT TO THE BUFFET'
This month, Arkansas congressional leaders warned in a letter to Vice President Mike Pence that their state's hospitals were testing at 10% of capacity. There are shortages of key supplies from Roche, Abbott, Cepheid and Hologic, said the state's medical director of infectious diseases Naveen Patil.
Roche told Reuters its automated equipment reduces errors, frees up staff and returns results more quickly. The company said it is increasing production capacity, and is "very intentional" about where it sends tests and instruments.
Abbott said it is expanding capacity, and closely managing supply to ensure tests get where they are needed.
Some labs have managed shortages by buying instruments from different vendors, so they can take advantage of whichever vendor's supplies are available. But that also means they run below capacity, according to the Reuters interviews. The AMP survey found 57% of labs were running tests on at least three companies' machines.
"It's pretty much like we went to the buffet and got one of everything," said University of Washington's Baird, whose lab runs most of the state's tests.
But as cases spiked in more than 30 states this month, some labs became overwhelmed as they struggled to get chemicals and disposable parts.
In the months ahead, separate antigen tests and gene-sequencing machines could boost capacity. The National Institutes of Health is working with companies to reach at least 6 million tests per day by December.
Some labs are also turning to suppliers of multi-step tests.
New Jersey's RUCDR Infinite Biologics can run 50,000 samples a day in two steps. Arizona's Sonora Quest recently announced a plan to run up to 60,000 tests a day using similar equipment.
Gary Kobinger, a Canadian researcher best known for his work on Ebola, argues that all diagnostics should be done on open platforms.
"At one point there will be a new pathogen, and the company that makes the cassette that is controlling everything is not going to be able to supply you," he said.
"And this is where we are now, right?"
(Reporting by Allison Martell in Toronto and Ned Parker in New York; Additional reporting by John Miller in Zurich, Roxanne Liu in Beijing and Matthias Blamont in Paris; Editing by Michele Gershberg and Pravin Char)
((allison.martell@thomsonreuters.com; +1 416 941 8196; Reuters Messaging: allison.martell.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. | A few companies – Cepheid DHR.N, Hologic Inc HOLX.O, Roche ROG.S and Abbott Laboratories ABT.N – dominate this market. At the heart of the crisis is a reliance by public and private labs on automated testing equipment that locks them in to using proprietary chemical kits and other tools made by a handful of manufacturers. Gary Procop, who helps lead the Cleveland Clinic's labs, said the government could have used the Defense Production Act (DPA) to scale up multi-step tests, using existing instructions from the Centers for Disease Control and Prevention. | A few companies – Cepheid DHR.N, Hologic Inc HOLX.O, Roche ROG.S and Abbott Laboratories ABT.N – dominate this market. The result: as infection rates spike nationwide, many labs aren't running anywhere near capacity because of supply-chain bottlenecks, according to Reuters interviews with 16 hospital, state, commercial and academic labs and an analysis of state and city procurement plans. The U.S. Department of Health and Human Services told Reuters the government had used the DPA to buy some testing supplies, but reagents used to run the CDC test are already available, so buying more would not help. | A few companies – Cepheid DHR.N, Hologic Inc HOLX.O, Roche ROG.S and Abbott Laboratories ABT.N – dominate this market. The U.S. Department of Health and Human Services told Reuters the government had used the DPA to buy some testing supplies, but reagents used to run the CDC test are already available, so buying more would not help. For states seeking to boost testing capacity, the most sought-after machine has been Hologic's Panther, which can process up to 1,000 tests in 24 hours, state filings show. | A few companies – Cepheid DHR.N, Hologic Inc HOLX.O, Roche ROG.S and Abbott Laboratories ABT.N – dominate this market. Many states planned to buy more of these automated machines from just two manufacturers, even though the same equipment was already running below capacity or idled in other states because of shortages of chemicals or parts. However Hologic is not making enough COVID-19 kits to run on its existing machines - about 1,100 across the country - at capacity. |
32539.0 | 2020-07-26 00:00:00 UTC | How Smartwatches Could Transform the Healthcare Industry | ABT | https://www.nasdaq.com/articles/how-smartwatches-could-transform-the-healthcare-industry-2020-07-26 | nan | nan | Smartwatches are rising in popularity, and that trend is likely to continue, especially as they gain more features. One industry that could benefit the most from wearables is healthcare, where smartwatches could change the way doctors monitor and keep track of patients, all while maintaining a safe distance. Here's a look at how wearable devices like smartwatches could change the healthcare industry for better (and worse).
New Apple watches can help doctors monitor patients from afar
Apple (NASDAQ: AAPL) is the industry leader when it comes to smartwatches. During the first quarter of 2020, the company shipped out 5.2 million smartwatches -- more than one-third of total smartwatch shipments. So when Apple makes changes to its smartwatches, its competitors take note.
Image source: Getty Images.
On June 22, Apple issued a press release stating that its latest smartwatch software, watchOS 7, will add a number of health and wellness features. In addition to helping users track their sleep and ensuring they're washing their hands for long enough, the new technology also tracks mobility metrics. This includes walking speed and a variety of other metrics aimed to help medical professionals monitor a patient's mobility.
One metric doctors use to gauge a patient's recovery and health is how far a patient can walk in six minutes, and that new smartwatch software helps to track that.
This could be just the start
Tracking motion is one thing, but researchers from the University of California recently designed an adhesive film that could soon give smartwatches even more information. The double-sided film is able to attach to a smartwatch and detect and analyze molecules that are present in body sweat.
A smartwatch could then use that information and display even more metrics to its users. For example, doctors could monitor a patient's metabolism by assessing glucose and lactate, information that the adhesive film could help collect.
And that's just one example. On July 6, Abbott Laboratories (NYSE: ABT) announced it had received approval from the U.S. Food and Drug Administration (FDA) for its Gallant devices, including implantable cardioverter defibrillators and cardiac resynchronization therapy defibrillators, which help monitor and correct a patient's heart rhythm. But what makes the devices unique is that they utilize Bluetooth technology that makes it easy to track the information through an app.
Smartwatches are undoubtedly less intrusive than most medical devices, especially those that need to be implanted. But regardless of how the data is collected, doctors, patients, and perhaps even health insurance companies could soon have access to much more health-related information.
There could be a downside to all of this
When more information is made available, it usually comes at the cost of privacy.
Health insurance company Aetna, which is now owned by CVS Health, offers an app, Attain by Aetna, which is available on the Apple Watch and that rewards users for meeting healthcare-oriented goals. The app also helps patients find low-cost testing centers if they need MRIs or other diagnostic tests. It's a harmless app that helps encourage people to stay fit while making it easier for them to access certain healthcare services.
But as more information is available on a smartwatch, that could give health insurance companies access to more data, especially if they cover the cost of those smartwatches in their plans and require the healthcare metrics to help assess a patient's individual risk. And for someone with less-than-ideal health metrics on their smartwatch, that could result in higher health insurance premiums.
It also means more sensitive data out there in cyberspace that companies will need to safeguard.
What does this mean for investors?
From an investment standpoint, it's clear that the industry is headed toward more remote data. And that makes companies like Apple and Abbott appealing investments, as they're making devices that can benefit from that trend.
Smartwatches look as though they'll be leading the charge in the change toward remote healthcare monitoring, and other devices will likely follow suit. Investing in companies, especially those in the healthcare industry that are already making these next-generation devices, could pay off over the long haul.
Shares of Apple and Abbott are outperforming the S&P 500 and its 1% gains so far this year, rising 31% and 16%, respectively.
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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 July 6, Abbott Laboratories (NYSE: ABT) announced it had received approval from the U.S. Food and Drug Administration (FDA) for its Gallant devices, including implantable cardioverter defibrillators and cardiac resynchronization therapy defibrillators, which help monitor and correct a patient's heart rhythm. One industry that could benefit the most from wearables is healthcare, where smartwatches could change the way doctors monitor and keep track of patients, all while maintaining a safe distance. On June 22, Apple issued a press release stating that its latest smartwatch software, watchOS 7, will add a number of health and wellness features. | On July 6, Abbott Laboratories (NYSE: ABT) announced it had received approval from the U.S. Food and Drug Administration (FDA) for its Gallant devices, including implantable cardioverter defibrillators and cardiac resynchronization therapy defibrillators, which help monitor and correct a patient's heart rhythm. New Apple watches can help doctors monitor patients from afar Apple (NASDAQ: AAPL) is the industry leader when it comes to smartwatches. Health insurance company Aetna, which is now owned by CVS Health, offers an app, Attain by Aetna, which is available on the Apple Watch and that rewards users for meeting healthcare-oriented goals. | On July 6, Abbott Laboratories (NYSE: ABT) announced it had received approval from the U.S. Food and Drug Administration (FDA) for its Gallant devices, including implantable cardioverter defibrillators and cardiac resynchronization therapy defibrillators, which help monitor and correct a patient's heart rhythm. New Apple watches can help doctors monitor patients from afar Apple (NASDAQ: AAPL) is the industry leader when it comes to smartwatches. One metric doctors use to gauge a patient's recovery and health is how far a patient can walk in six minutes, and that new smartwatch software helps to track that. | On July 6, Abbott Laboratories (NYSE: ABT) announced it had received approval from the U.S. Food and Drug Administration (FDA) for its Gallant devices, including implantable cardioverter defibrillators and cardiac resynchronization therapy defibrillators, which help monitor and correct a patient's heart rhythm. One metric doctors use to gauge a patient's recovery and health is how far a patient can walk in six minutes, and that new smartwatch software helps to track that. But as more information is available on a smartwatch, that could give health insurance companies access to more data, especially if they cover the cost of those smartwatches in their plans and require the healthcare metrics to help assess a patient's individual risk. |
32540.0 | 2020-07-26 00:00:00 UTC | Here's the Least Risky Solid-Growth Coronavirus Stock to Buy Right Now | ABT | https://www.nasdaq.com/articles/heres-the-least-risky-solid-growth-coronavirus-stock-to-buy-right-now-2020-07-26 | nan | nan | It's hard to keep track of all of the companies developing drug candidates, experimental vaccines, and diagnostics tests focused on fighting COVID-19. They include several large drugmakers and medical-device makers plus a lot of small biotechs and other small healthcare companies.
Not all of the stocks of the publicly traded companies with COVID-19 programs are great picks for investors, though. Some are way too risky. Others aren't as risky but don't offer attractive growth prospects. If you're looking for the least risky solid-growth coronavirus stock to buy, I think there's one that stands above all the rest: Abbott Laboratories (NYSE: ABT).
Image source: Getty Images.
Solid growth
Yes, Abbott Labs is 132 years old. But that doesn't disqualify the well-established company from delivering solid growth.
Don't just take my word that Abbott has solid growth potential. The consensus among Wall Street analysts is that the healthcare giant will be able to deliver double-digit-percentage annual earnings growth over the next five years. Add in Abbott's dividend (which currently yields north of 1.4%) and you're likely looking at total returns that should handily beat the overall market.
What's going to drive Abbott's growth over the next few years? Several products. The company markets COVID-19 tests across five diagnostic platforms. As of July 17, Abbott had shipped more than 22 million COVID-19 tests. Expect continued strong demand at least through 2021.
Even after the COVID-19 pandemic fades away, the underlying platforms that Abbott's COVID-19 tests run on should generate long-term growth. Abbott's Alinity family of diagnostic systems, in particular, has been a big winner in the past and continues to have strong growth prospects in the U.S. and other major markets.
Abbott's MitraClip device for repairing leaky heart valves is another key growth driver. The company received FDA approval on July 15 for a next-generation version of MitraClip. This new version should boost Abbott's sales.
Arguably the most important product for Abbott's growth, though, is the Freestyle Libre continuous glucose monitoring (CGM) system. After a lengthy wait, last month the FDA cleared a new version of the CGM system that offers integration capabilities with other systems such as insulin pumps.
Low risk
You can certainly find other coronavirus stocks that could deliver greater growth than Abbott Labs. However, those stocks will also almost certainly be a lot riskier than Abbott.
For example, some on the list will be small biotechs with no products yet on the market. If their COVID-19 drug candidates or vaccine candidates flop in clinical testing, their share prices will implode. Even big pharma companies with coronavirus-focused programs face risks of failure with their pipeline candidates (and not just the candidates that target COVID-19).
Abbott, on the other hand, is largely derisked. The company isn't hoping to launch those products mentioned earlier that should be growth drivers; they're all on the market right now.
Nearly everything about Abbott screams "low risk." As previously noted, the company has managed to survive and thrive for 132 years. Abbott is a Dividend Aristocrat with 48 consecutive years of dividend increases. It's the global market leader in multiple areas. Abbott ranked on Fortune's Most Admired Companies list every year since 1984 and took the No. 1 spot in the medical products category over the last seven years.
It also helps that Abbott's financial position remains very strong. The company's balance sheet is solid. Abbott raked in $31.9 billion in sales last year with profits of more than $3.1 billion.
But not no-risk
While Abbott is a low-risk stock, it's not a no-risk stock. Such an animal doesn't exist. Abbott could still run into problems with products that are currently in development that could negatively impact its future growth prospects.
As we saw earlier this year, Abbott isn't immune to overall stock market meltdowns. The healthcare giant's shares fell by nearly 32% during the coronavirus-fueled market crash in February and March. However, Abbott also bounced back more than many stocks did.
You won't find a perfect stock. But among the stocks of companies with COVID-19 programs, I don't think there's a better low-risk, solid-growth stock on the market right now than Abbott Labs.
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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. | If you're looking for the least risky solid-growth coronavirus stock to buy, I think there's one that stands above all the rest: Abbott Laboratories (NYSE: ABT). It's hard to keep track of all of the companies developing drug candidates, experimental vaccines, and diagnostics tests focused on fighting COVID-19. The consensus among Wall Street analysts is that the healthcare giant will be able to deliver double-digit-percentage annual earnings growth over the next five years. | If you're looking for the least risky solid-growth coronavirus stock to buy, I think there's one that stands above all the rest: Abbott Laboratories (NYSE: ABT). It's hard to keep track of all of the companies developing drug candidates, experimental vaccines, and diagnostics tests focused on fighting COVID-19. Low risk You can certainly find other coronavirus stocks that could deliver greater growth than Abbott Labs. | If you're looking for the least risky solid-growth coronavirus stock to buy, I think there's one that stands above all the rest: Abbott Laboratories (NYSE: ABT). But not no-risk While Abbott is a low-risk stock, it's not a no-risk stock. As we saw earlier this year, Abbott isn't immune to overall stock market meltdowns. | If you're looking for the least risky solid-growth coronavirus stock to buy, I think there's one that stands above all the rest: Abbott Laboratories (NYSE: ABT). Others aren't as risky but don't offer attractive growth prospects. But among the stocks of companies with COVID-19 programs, I don't think there's a better low-risk, solid-growth stock on the market right now than Abbott Labs. |
32541.0 | 2020-07-25 00:00:00 UTC | 2 Market-Beating Dividend Stocks With Above-Average Payouts | ABT | https://www.nasdaq.com/articles/2-market-beating-dividend-stocks-with-above-average-payouts-2020-07-25 | nan | nan | It's been a volatile year in the markets, and the S&P 500's returns are flat year to date. While that's good news for investors who were fearing the worst (a prolonged market crash) in March, 2020's still been a lousy year for many stocks. But two stocks have been the exception to the norm, outperforming the markets and also paying dividends of 3% or more. Here are two gems to consider adding to your portfolio right now:
1. AbbVie
AbbVie (NYSE: ABBV) is an even stronger, more versatile healthcare stock to hold in your portfolio now that it's completed its $63 billion acquisition of Botox maker Allergan. AbbVie made the announcement on May 8 that the deal was final, calling it a "turning point" that will allow the now stronger biopharmaceutical company to not only become more diversified with a wider range of products, but also to have the "financial strength" to continue innovating and investing in new products.
Image source: Getty Images.
One of the newest drugs in AbbVie's portfolio as a result of the acquisition is migraine treatment Ubrelvy, which the Food and Drug Administration approved late last year. AbbVie will release its second-quarter results on July 31, the first report since closing the deal with Allergan.
When the Illinois-based company released its first-quarter results on May 1, its net sales of $8.6 billion were up over 10% year over year. The company's arthritis drug, Humira, drove a lot of that growth with its sales up 5.8% from the prior-year period. It also got a boost from Skyrizi, which treats plaque psoriasis. The drug added $300 million in revenue in Q1; in the same period a year ago, it wasn't yet contributing anything to AbbVie's top line.
The company's net earnings of more than $3 billion were also strong, up 23% from the prior-year period. AbbVie's been doing well of late, and the addition of Allergan into the mix should only make it a better buy over the long run.
Year to date, the stock's up around 11% and it currently pays a quarterly dividend of $1.18, which yields 4.8% annually -- well above the S&P 500 average of 2%. The stock's also a Dividend Aristocrat, having increased its dividend payments for more than 25 years in a row, which includes when it was still a part of Abbott Labs.
2. General Mills
General Mills (NYSE: GIS) is another top stock that's doing well this year. Up over 21%, it's been soundly beating both the S&P 500 and AbbVie. The packaged foods company has been prospering amid the COVID-19 pandemic as consumers are stocking up on essentials to make meals at home.
On July 1, the Minnesota-based company released its full-year results for fiscal 2020. While net sales for the full year rose by just 5%, in the fourth quarter they were up a staggering 21% from the prior-year period, which the company says is due to the pandemic and "a significant increase in at-home food demand."
Operating profit during the quarter rose by 16%, which was in line with the 17% increase General Mills generated for the full year. In the previous year, however, the company's operating profit grew by just 4%.
General Mills pays a quarterly dividend of $0.49, which today yields just a shade over 3% per year. The last time the company increased its payouts was in 2017.
Which stock is the better buy today?
It may be tempting to look at General Mills' stock, see a high performer, and want to climb aboard the bandwagon.
However, investors need to remember that 2020 is turning into an odd year, driven by the COVID-19 pandemic. Once the pandemic's over, people will likely return to their old routines, including eating out and making fewer meals at home. Consistent double-digit sales growth just isn't a realistic expectation investors should have for General Mills. The last year the company produced that kind of revenue growth was in fiscal 2012, when sales were up 12% from the previous year.
AbbVie, with its incorporation of Allergan, looks to be in a better position to generate more sustainable sales growth in future years now that it has a more diversified portfolio of drugs to work with. And with a higher dividend yield, it gives investors the best mix of possible sales growth and recurring income.
10 stocks we like better than General Mills
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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. | The drug added $300 million in revenue in Q1; in the same period a year ago, it wasn't yet contributing anything to AbbVie's top line. While net sales for the full year rose by just 5%, in the fourth quarter they were up a staggering 21% from the prior-year period, which the company says is due to the pandemic and "a significant increase in at-home food demand." AbbVie, with its incorporation of Allergan, looks to be in a better position to generate more sustainable sales growth in future years now that it has a more diversified portfolio of drugs to work with. | General Mills General Mills (NYSE: GIS) is another top stock that's doing well this year. Operating profit during the quarter rose by 16%, which was in line with the 17% increase General Mills generated for the full year. General Mills pays a quarterly dividend of $0.49, which today yields just a shade over 3% per year. | When the Illinois-based company released its first-quarter results on May 1, its net sales of $8.6 billion were up over 10% year over year. General Mills General Mills (NYSE: GIS) is another top stock that's doing well this year. See the 10 stocks *Stock Advisor returns as of June 2, 2020 David Jagielski has no position in any of the stocks mentioned. | Operating profit during the quarter rose by 16%, which was in line with the 17% increase General Mills generated for the full year. General Mills pays a quarterly dividend of $0.49, which today yields just a shade over 3% per year. AbbVie, with its incorporation of Allergan, looks to be in a better position to generate more sustainable sales growth in future years now that it has a more diversified portfolio of drugs to work with. |
32542.0 | 2020-07-24 00:00:00 UTC | Noteworthy ETF Inflows: IHI, ABT, EW, BAX | ABT | https://www.nasdaq.com/articles/noteworthy-etf-inflows%3A-ihi-abt-ew-bax-2020-07-24 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares U.S. Medical Devices ETF (Symbol: IHI) where we have detected an approximate $116.6 million dollar inflow -- that's a 1.6% increase week over week in outstanding units (from 25,150,000 to 25,550,000). Among the largest underlying components of IHI, in trading today Abbott Laboratories (Symbol: ABT) is down about 1.7%, Edwards Lifesciences Corp (Symbol: EW) is off about 0.1%, and Baxter International Inc (Symbol: BAX) is lower by about 0.8%. For a complete list of holdings, visit the IHI Holdings page » The chart below shows the one year price performance of IHI, versus its 200 day moving average:
Looking at the chart above, IHI's low point in its 52 week range is $183.25 per share, with $295.5268 as the 52 week high point — that compares with a last trade of $288.30. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of IHI, in trading today Abbott Laboratories (Symbol: ABT) is down about 1.7%, Edwards Lifesciences Corp (Symbol: EW) is off about 0.1%, and Baxter International Inc (Symbol: BAX) is lower by about 0.8%. For a complete list of holdings, visit the IHI Holdings page » The chart below shows the one year price performance of IHI, versus its 200 day moving average: Looking at the chart above, IHI's low point in its 52 week range is $183.25 per share, with $295.5268 as the 52 week high point — that compares with a last trade of $288.30. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of IHI, in trading today Abbott Laboratories (Symbol: ABT) is down about 1.7%, Edwards Lifesciences Corp (Symbol: EW) is off about 0.1%, and Baxter International Inc (Symbol: BAX) is lower by about 0.8%. For a complete list of holdings, visit the IHI Holdings page » The chart below shows the one year price performance of IHI, versus its 200 day moving average: Looking at the chart above, IHI's low point in its 52 week range is $183.25 per share, with $295.5268 as the 52 week high point — that compares with a last trade of $288.30. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ». | Among the largest underlying components of IHI, in trading today Abbott Laboratories (Symbol: ABT) is down about 1.7%, Edwards Lifesciences Corp (Symbol: EW) is off about 0.1%, and Baxter International Inc (Symbol: BAX) is lower by about 0.8%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares U.S. Medical Devices ETF (Symbol: IHI) where we have detected an approximate $116.6 million dollar inflow -- that's a 1.6% increase week over week in outstanding units (from 25,150,000 to 25,550,000). For a complete list of holdings, visit the IHI Holdings page » The chart below shows the one year price performance of IHI, versus its 200 day moving average: Looking at the chart above, IHI's low point in its 52 week range is $183.25 per share, with $295.5268 as the 52 week high point — that compares with a last trade of $288.30. | Among the largest underlying components of IHI, in trading today Abbott Laboratories (Symbol: ABT) is down about 1.7%, Edwards Lifesciences Corp (Symbol: EW) is off about 0.1%, and Baxter International Inc (Symbol: BAX) is lower by about 0.8%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares U.S. Medical Devices ETF (Symbol: IHI) where we have detected an approximate $116.6 million dollar inflow -- that's a 1.6% increase week over week in outstanding units (from 25,150,000 to 25,550,000). For a complete list of holdings, visit the IHI Holdings page » The chart below shows the one year price performance of IHI, versus its 200 day moving average: Looking at the chart above, IHI's low point in its 52 week range is $183.25 per share, with $295.5268 as the 52 week high point — that compares with a last trade of $288.30. |
32543.0 | 2020-07-23 00:00:00 UTC | YieldBoost Abbott Laboratories To 28.8% Using Options | ABT | https://www.nasdaq.com/articles/yieldboost-abbott-laboratories-to-28.8-using-options-2020-07-23 | nan | nan | Shareholders of Abbott Laboratories (Symbol: ABT) looking to boost their income beyond the stock's 1.4% annualized dividend yield can sell the September covered call at the $101 strike and collect the premium based on the $3.25 bid, which annualizes to an additional 27.4% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 28.8% annualized rate in the scenario where the stock is not called away. Any upside above $101 would be lost if the stock rises there and is called away, but ABT shares would have to advance 0.4% from current levels for that to occur, meaning that in the scenario where the stock is called, the shareholder has earned a 3.6% return from this trading level, in addition to any dividends collected before the stock was called.
In general, dividend amounts are not always predictable and tend to follow the ups and downs of profitability at each company. In the case of Abbott Laboratories, looking at the dividend history chart for ABT below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 1.4% annualized dividend yield.
Below is a chart showing ABT's trailing twelve month trading history, with the $101 strike highlighted in red:
The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the September covered call at the $101 strike gives good reward for the risk of having given away the upside beyond $101. (Do most options expire worthless? This and six other common options myths debunked). We calculate the trailing twelve month volatility for Abbott Laboratories (considering the last 252 trading day closing values as well as today's price of $101.46) to be 38%. For other call options contract ideas at the various different available expirations, visit the ABT Stock Options page of StockOptionsChannel.com.
In mid-afternoon trading on Thursday, the put volume among S&P 500 components was 1.37M contracts, with call volume at 2.47M, for a put:call ratio of 0.56 so far for the day. Compared to the long-term median put:call ratio of .65, that represents high call volume relative to puts; in other words, buyers are showing a preference for calls in options trading so far today. Find out which 15 call and put options traders are talking about today.
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. | Below is a chart showing ABT's trailing twelve month trading history, with the $101 strike highlighted in red: The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the September covered call at the $101 strike gives good reward for the risk of having given away the upside beyond $101. Shareholders of Abbott Laboratories (Symbol: ABT) looking to boost their income beyond the stock's 1.4% annualized dividend yield can sell the September covered call at the $101 strike and collect the premium based on the $3.25 bid, which annualizes to an additional 27.4% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 28.8% annualized rate in the scenario where the stock is not called away. Any upside above $101 would be lost if the stock rises there and is called away, but ABT shares would have to advance 0.4% from current levels for that to occur, meaning that in the scenario where the stock is called, the shareholder has earned a 3.6% return from this trading level, in addition to any dividends collected before the stock was called. | Shareholders of Abbott Laboratories (Symbol: ABT) looking to boost their income beyond the stock's 1.4% annualized dividend yield can sell the September covered call at the $101 strike and collect the premium based on the $3.25 bid, which annualizes to an additional 27.4% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 28.8% annualized rate in the scenario where the stock is not called away. Any upside above $101 would be lost if the stock rises there and is called away, but ABT shares would have to advance 0.4% from current levels for that to occur, meaning that in the scenario where the stock is called, the shareholder has earned a 3.6% return from this trading level, in addition to any dividends collected before the stock was called. Below is a chart showing ABT's trailing twelve month trading history, with the $101 strike highlighted in red: The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the September covered call at the $101 strike gives good reward for the risk of having given away the upside beyond $101. | Shareholders of Abbott Laboratories (Symbol: ABT) looking to boost their income beyond the stock's 1.4% annualized dividend yield can sell the September covered call at the $101 strike and collect the premium based on the $3.25 bid, which annualizes to an additional 27.4% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 28.8% annualized rate in the scenario where the stock is not called away. Any upside above $101 would be lost if the stock rises there and is called away, but ABT shares would have to advance 0.4% from current levels for that to occur, meaning that in the scenario where the stock is called, the shareholder has earned a 3.6% return from this trading level, in addition to any dividends collected before the stock was called. In the case of Abbott Laboratories, looking at the dividend history chart for ABT below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 1.4% annualized dividend yield. | Shareholders of Abbott Laboratories (Symbol: ABT) looking to boost their income beyond the stock's 1.4% annualized dividend yield can sell the September covered call at the $101 strike and collect the premium based on the $3.25 bid, which annualizes to an additional 27.4% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 28.8% annualized rate in the scenario where the stock is not called away. Below is a chart showing ABT's trailing twelve month trading history, with the $101 strike highlighted in red: The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the September covered call at the $101 strike gives good reward for the risk of having given away the upside beyond $101. Any upside above $101 would be lost if the stock rises there and is called away, but ABT shares would have to advance 0.4% from current levels for that to occur, meaning that in the scenario where the stock is called, the shareholder has earned a 3.6% return from this trading level, in addition to any dividends collected before the stock was called. |
32544.0 | 2020-07-23 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-2020-07-23 | 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
South Jersey Industries Inc (Symbol: SJI) $24.13 $28.00 16.04%
Johnson & Johnson (Symbol: JNJ) $150.01 $165.77 10.51%
Abbott Laboratories (Symbol: ABT) $100.19 $108.18 7.98%
PPG Industries Inc (Symbol: PPG) $111.68 $120.38 7.79%
MSA Safety Inc (Symbol: MSA) $113.65 $122.33 7.64%
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
South Jersey Industries Inc (Symbol: SJI) 4.89% 16.04% 20.93%
Johnson & Johnson (Symbol: JNJ) 2.69% 10.51% 13.2%
Abbott Laboratories (Symbol: ABT) 1.44% 7.98% 9.42%
PPG Industries Inc (Symbol: PPG) 1.93% 7.79% 9.72%
MSA Safety Inc (Symbol: MSA) 1.51% 7.64% 9.15%
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
South Jersey Industries Inc (Symbol: SJI) $1.144 $1.173 2.53%
Johnson & Johnson (Symbol: JNJ) $3.65 $3.86 5.75%
Abbott Laboratories (Symbol: ABT) $1.24 $1.4 12.90%
PPG Industries Inc (Symbol: PPG) $1.92 $2.04 6.25%
MSA Safety Inc (Symbol: MSA) $1.56 $1.69 8.33%
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. | South Jersey Industries Inc (Symbol: SJI) $24.13 $28.00 16.04% Johnson & Johnson (Symbol: JNJ) $150.01 $165.77 10.51% Abbott Laboratories (Symbol: ABT) $100.19 $108.18 7.98% PPG Industries Inc (Symbol: PPG) $111.68 $120.38 7.79% MSA Safety Inc (Symbol: MSA) $113.65 $122.33 7.64% 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. South Jersey Industries Inc (Symbol: SJI) 4.89% 16.04% 20.93% Johnson & Johnson (Symbol: JNJ) 2.69% 10.51% 13.2% Abbott Laboratories (Symbol: ABT) 1.44% 7.98% 9.42% PPG Industries Inc (Symbol: PPG) 1.93% 7.79% 9.72% MSA Safety Inc (Symbol: MSA) 1.51% 7.64% 9.15% Another consideration with dividend growth stocks is just how much the dividend is growing. South Jersey Industries Inc (Symbol: SJI) $1.144 $1.173 2.53% Johnson & Johnson (Symbol: JNJ) $3.65 $3.86 5.75% Abbott Laboratories (Symbol: ABT) $1.24 $1.4 12.90% PPG Industries Inc (Symbol: PPG) $1.92 $2.04 6.25% MSA Safety Inc (Symbol: MSA) $1.56 $1.69 8.33% These five stocks are part of our full Dividend Aristocrats List. | South Jersey Industries Inc (Symbol: SJI) $24.13 $28.00 16.04% Johnson & Johnson (Symbol: JNJ) $150.01 $165.77 10.51% Abbott Laboratories (Symbol: ABT) $100.19 $108.18 7.98% PPG Industries Inc (Symbol: PPG) $111.68 $120.38 7.79% MSA Safety Inc (Symbol: MSA) $113.65 $122.33 7.64% 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. South Jersey Industries Inc (Symbol: SJI) 4.89% 16.04% 20.93% Johnson & Johnson (Symbol: JNJ) 2.69% 10.51% 13.2% Abbott Laboratories (Symbol: ABT) 1.44% 7.98% 9.42% PPG Industries Inc (Symbol: PPG) 1.93% 7.79% 9.72% MSA Safety Inc (Symbol: MSA) 1.51% 7.64% 9.15% Another consideration with dividend growth stocks is just how much the dividend is growing. South Jersey Industries Inc (Symbol: SJI) $1.144 $1.173 2.53% Johnson & Johnson (Symbol: JNJ) $3.65 $3.86 5.75% Abbott Laboratories (Symbol: ABT) $1.24 $1.4 12.90% PPG Industries Inc (Symbol: PPG) $1.92 $2.04 6.25% MSA Safety Inc (Symbol: MSA) $1.56 $1.69 8.33% These five stocks are part of our full Dividend Aristocrats List. | South Jersey Industries Inc (Symbol: SJI) $24.13 $28.00 16.04% Johnson & Johnson (Symbol: JNJ) $150.01 $165.77 10.51% Abbott Laboratories (Symbol: ABT) $100.19 $108.18 7.98% PPG Industries Inc (Symbol: PPG) $111.68 $120.38 7.79% MSA Safety Inc (Symbol: MSA) $113.65 $122.33 7.64% 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. South Jersey Industries Inc (Symbol: SJI) 4.89% 16.04% 20.93% Johnson & Johnson (Symbol: JNJ) 2.69% 10.51% 13.2% Abbott Laboratories (Symbol: ABT) 1.44% 7.98% 9.42% PPG Industries Inc (Symbol: PPG) 1.93% 7.79% 9.72% MSA Safety Inc (Symbol: MSA) 1.51% 7.64% 9.15% Another consideration with dividend growth stocks is just how much the dividend is growing. South Jersey Industries Inc (Symbol: SJI) $1.144 $1.173 2.53% Johnson & Johnson (Symbol: JNJ) $3.65 $3.86 5.75% Abbott Laboratories (Symbol: ABT) $1.24 $1.4 12.90% PPG Industries Inc (Symbol: PPG) $1.92 $2.04 6.25% MSA Safety Inc (Symbol: MSA) $1.56 $1.69 8.33% These five stocks are part of our full Dividend Aristocrats List. | South Jersey Industries Inc (Symbol: SJI) $24.13 $28.00 16.04% Johnson & Johnson (Symbol: JNJ) $150.01 $165.77 10.51% Abbott Laboratories (Symbol: ABT) $100.19 $108.18 7.98% PPG Industries Inc (Symbol: PPG) $111.68 $120.38 7.79% MSA Safety Inc (Symbol: MSA) $113.65 $122.33 7.64% 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. South Jersey Industries Inc (Symbol: SJI) 4.89% 16.04% 20.93% Johnson & Johnson (Symbol: JNJ) 2.69% 10.51% 13.2% Abbott Laboratories (Symbol: ABT) 1.44% 7.98% 9.42% PPG Industries Inc (Symbol: PPG) 1.93% 7.79% 9.72% MSA Safety Inc (Symbol: MSA) 1.51% 7.64% 9.15% Another consideration with dividend growth stocks is just how much the dividend is growing. South Jersey Industries Inc (Symbol: SJI) $1.144 $1.173 2.53% Johnson & Johnson (Symbol: JNJ) $3.65 $3.86 5.75% Abbott Laboratories (Symbol: ABT) $1.24 $1.4 12.90% PPG Industries Inc (Symbol: PPG) $1.92 $2.04 6.25% MSA Safety Inc (Symbol: MSA) $1.56 $1.69 8.33% These five stocks are part of our full Dividend Aristocrats List. |
32545.0 | 2020-07-22 00:00:00 UTC | HCA Healthcare quarterly profit jumps nearly 38% on government stimulus | ABT | https://www.nasdaq.com/articles/hca-healthcare-quarterly-profit-jumps-nearly-38-on-government-stimulus-2020-07-22 | nan | nan | July 22 (Reuters) - HCA Healthcare Inc HCA.N reported a nearly 38% rise in second-quarter profit on Wednesday, as the hospital operator received $822 million in government stimulus income related to the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Net income attributable to HCA rose to $1.079 billion, or $3.16 per share, in the quarter, from $783 million, or $2.25 per share, a year earlier.
Sales fell to $11.06 billion from $12.6 billion.
(Reporting by Manojna Maddipatla and Mrinalika Roy in Bengaluru; Editing by Shinjini Ganguli)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | July 22 (Reuters) - HCA Healthcare Inc HCA.N reported a nearly 38% rise in second-quarter profit on Wednesday, as the hospital operator received $822 million in government stimulus income related to the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Net income attributable to HCA rose to $1.079 billion, or $3.16 per share, in the quarter, from $783 million, or $2.25 per share, a year earlier. (Reporting by Manojna Maddipatla and Mrinalika Roy in Bengaluru; Editing by Shinjini Ganguli) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Net income attributable to HCA rose to $1.079 billion, or $3.16 per share, in the quarter, from $783 million, or $2.25 per share, a year earlier. Sales fell to $11.06 billion from $12.6 billion. (Reporting by Manojna Maddipatla and Mrinalika Roy in Bengaluru; Editing by Shinjini Ganguli) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | July 22 (Reuters) - HCA Healthcare Inc HCA.N reported a nearly 38% rise in second-quarter profit on Wednesday, as the hospital operator received $822 million in government stimulus income related to the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Net income attributable to HCA rose to $1.079 billion, or $3.16 per share, in the quarter, from $783 million, or $2.25 per share, a year earlier. (Reporting by Manojna Maddipatla and Mrinalika Roy in Bengaluru; Editing by Shinjini Ganguli) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | July 22 (Reuters) - HCA Healthcare Inc HCA.N reported a nearly 38% rise in second-quarter profit on Wednesday, as the hospital operator received $822 million in government stimulus income related to the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Net income attributable to HCA rose to $1.079 billion, or $3.16 per share, in the quarter, from $783 million, or $2.25 per share, a year earlier. Sales fell to $11.06 billion from $12.6 billion. |
32546.0 | 2020-07-22 00:00:00 UTC | Is AbbVie a Great Dividend Stock? | ABT | https://www.nasdaq.com/articles/is-abbvie-a-great-dividend-stock-2020-07-22 | nan | nan | Many investors consider dividend stocks an important part of any well-rounded portfolio. And while there is no shortage of such stocks on the market, they aren't all created equal. After all, most companies aren't legally obligated to reward shareholders by way of dividends, and given that we are currently in a recession, many have already slashed or suspended their dividend payments. Fortunately, there are still some dividend stocks worth buying, and AbbVie (NYSE: ABBV) is one of them. Here's why the pharma giant is a great dividend stock.
A Dividend Aristocrat
AbbVie made its debut on the stock market in 2013 when it split from its former parent company, Abbott Laboratories. When we include the time AbbVie spent as a division of Abbott, the company has raised its dividends for 47 consecutive years, making the drugmaker a Dividend Aristocrat. This select group refers to companies in the S&P 500 that have raised their dividend payouts for at least 25 consecutive years.
Image source: Getty Images.
In other words, AbbVie, like other companies in this elite class, is unlikely to suspend its dividends anytime soon, at least if history is any guide. Also, AbbVie currently offers a dividend yield of 4.6%, compared with about 2% for the S&P 500, and the company sports a cash payout ratio of 48.3%. This reasonable payout ratio gives the company plenty of room to sustain dividend increases.
AbbVie can still deliver strong financial results
Even though AbbVie boasts a stellar dividend history, a high dividend yield, and a reasonable payout ratio, it is critical to ensure that the company can continue growing its revenue and earnings at a good clip before adding it to your dividend portfolio. And while detractors may point to declining sales of Humira, the company's biggest cash cow, sales of this blockbuster drug are still growing in the U.S., which is helping it recoup some of its losses in international markets.
During the first quarter, the rheumatoid arthritis treatment generated $3.7 billion in revenue domestically, a 13.7% year-over-year increase. Furthermore, the pharma giant has a robust lineup (beyond Humira) that will allow it to continue generating solid financial results. For instance, there's Venclexta and Imbruvica, two cancer drugs whose combined worldwide sales of $1.5 billion during the first quarter increased by about 32% year over year. Overall, the company reported a revenue figure of $8.6 billion during the quarter, a 10.1% increase compared to the prior-year quarter.
AbbVie's earnings per share came in at $2.02, compared with the $1.65 recorded during the first quarter of the previous fiscal year. And let's not forget about AbbVie's acquisition of Allergan, a transaction that closed in May. AbbVie successfully decreased its top-line exposure to Humira thanks to this deal. In particular, the company got its hands on Allergan's Botox, which generates well over a billion dollars in revenue per year.
The key takeaway
It is worth noting that AbbVie's acquisition of Allergan significantly increased its debt level. At the end of the first quarter, the company had more than $80 billion in long-term liabilities. However, AbbVie's CEO, Richard Gonzalez, had this to stay during the company's first-quarter earnings conference call: "We remain confident that the AbbVie/Allergan combination will generate significant cash flows, which will support our strong and growing dividend and rapid debt repayment, and we remain highly committed to both of those priorities." That's why AbbVie's debt load shouldn't be a deal-breaker for investors, in my view.
Overall, AbbVie fits all the criteria of a great dividend stock: A high yield, a low payout ratio, and the ability to raise its dividend payouts along with its revenue and profits. Income-seeking investors can't go wrong with this pharma stock.
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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. | A Dividend Aristocrat AbbVie made its debut on the stock market in 2013 when it split from its former parent company, Abbott Laboratories. The key takeaway It is worth noting that AbbVie's acquisition of Allergan significantly increased its debt level. However, AbbVie's CEO, Richard Gonzalez, had this to stay during the company's first-quarter earnings conference call: "We remain confident that the AbbVie/Allergan combination will generate significant cash flows, which will support our strong and growing dividend and rapid debt repayment, and we remain highly committed to both of those priorities." | AbbVie can still deliver strong financial results Even though AbbVie boasts a stellar dividend history, a high dividend yield, and a reasonable payout ratio, it is critical to ensure that the company can continue growing its revenue and earnings at a good clip before adding it to your dividend portfolio. The key takeaway It is worth noting that AbbVie's acquisition of Allergan significantly increased its debt level. Overall, AbbVie fits all the criteria of a great dividend stock: A high yield, a low payout ratio, and the ability to raise its dividend payouts along with its revenue and profits. | When we include the time AbbVie spent as a division of Abbott, the company has raised its dividends for 47 consecutive years, making the drugmaker a Dividend Aristocrat. AbbVie can still deliver strong financial results Even though AbbVie boasts a stellar dividend history, a high dividend yield, and a reasonable payout ratio, it is critical to ensure that the company can continue growing its revenue and earnings at a good clip before adding it to your dividend portfolio. Overall, AbbVie fits all the criteria of a great dividend stock: A high yield, a low payout ratio, and the ability to raise its dividend payouts along with its revenue and profits. | AbbVie can still deliver strong financial results Even though AbbVie boasts a stellar dividend history, a high dividend yield, and a reasonable payout ratio, it is critical to ensure that the company can continue growing its revenue and earnings at a good clip before adding it to your dividend portfolio. For instance, there's Venclexta and Imbruvica, two cancer drugs whose combined worldwide sales of $1.5 billion during the first quarter increased by about 32% year over year. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now… and AbbVie wasn't one of them! |
32547.0 | 2020-07-21 00:00:00 UTC | Have $2,000? Consider Buying These 2 Top Coronavirus Stocks | ABT | https://www.nasdaq.com/articles/have-%242000-consider-buying-these-2-top-coronavirus-stocks-2020-07-21 | nan | nan | Just because we are in a recession doesn't mean it's a bad time to invest in stocks. After all, buying shares of great companies -- and holding these shares for long periods -- remains one of the best ways to accumulate wealth. Of course, before putting your money in the stock market, it's essential to ensure that you have enough saved for a rainy day. In case you do, and if you still have $2,000 lying around, here are two stocks that could be great long-term picks: Abbott Laboratories (NYSE: ABT) and Pfizer (NYSE: PFE).
Both of these healthcare giants have been involved in the fight against COVID-19. And even beyond their coronavirus-related efforts, there are great reasons to invest in them.
ABT data by YCharts
1. Abbott Laboratories
Abbott Laboratories has developed five COVID-19 diagnostic tests, one of which is the ID Now COVID-19 antibody test. According to the company, this device can give positive results in as little as five minutes. This test did run into a little bit of trouble, however, when in May, the U.S. Food and Drug Administration (FDA) warned consumers that it could return false negatives.
Fortunately, the company issued interim data from a clinical study that showed that ID Now is highly reliable. Abbott's COVID-19 tests are having a positive effect on its financial results, too. During the second quarter, the company's diagnostics segments reported sales of about $2 billion -- a 7.1% year-over-year organic increase -- which the company largely attributed to its newly developed coronavirus tests.
Overall, Abbott recorded total sales of $7.3 billion during the second quarter, a 5.4% year-over-year decrease on an organic basis. Investors should remember that the COVID-19 crisis is hurting Abbott's business -- and those of many other medical device companies, for that matter. But the healthcare giant is managing to weather the storm. The sales number was above the $6.75 billion analysts were expecting.
Image source: Getty Images.
The healthcare company could benefit from several growth drivers. In particular, Abbott's diabetes care segment is performing well, largely thanks to its continuous glucose monitoring (CGM) system called the FreeStyle Libre. During the first and second quarters, sales of this device increased by 62.5% and 40% year over year, respectively. What's more, the FDA recently cleared the newer and better (according to Abbott) FreeStyle Libre 2.
In late June, Abbott entered into a partnership with Tandem Diabetes Care. The two companies will combine forces to integrate Tandem Diabetes Care's innovative t:slim X2 insulin pump with Abbott's FreeStyle Libre technology "for future automated insulin delivery systems." The diabetes care market constitutes just one potential growth area for Abbott, and that -- combined with its ability to keep its financial results afloat amid the crisis -- will allow the company to outperform the market in the long run.
2. Pfizer
Pfizer is collaborating with BioNtech to develop a vaccine for COVID-19. The companies have several candidates, four of which are undergoing a phase 1/2 clinical trial. The trial is testing the safety, immunogenicity, and optimal dose level of these vaccines. In early July, Pfizer released positive interim data from this study. What's more, the FDA granted a fast-track designation to two of these candidates, BNT162b1 and BNT162b2. Pfizer and BioNtech plan on starting a phase 2b/3 clinical trial for the most promising candidates, which will enroll up to 30,000 participants, as early as late July.
Pfizer is one of the companies that was selected as part of Operation Warp Speed, which means it will receive federal funds, logistical support, and assistance with clinical trials to help it develop its coronavirus vaccine candidates. Beyond its involvement in the hunt for a COVID-19 vaccine, Pfizer is a pharma stock worth buying. The company is currently in the process of spinning off its Upjohn generics unit to Mylan, which will allow it to focus on its more profitable biopharma business. During the first quarter, Pfizer's biopharma segment reported a revenue of about $10 billion, an 11% year-over-year increase.
By contrast, revenue from its Upjohn unit came in at about $2 billion, representing a 37% year-over-year decline. Overall, the company's revenue was $12 billion, 7% lower than the prior-year quarter. Getting rid of its poorly performing generic unit should allow Pfizer to grow its revenue and earnings at a good clip. Pfizer currently offers a dividend yield of 4.1%, a payout ratio of 51.3%, and a cash payout ratio of 70.1%; the company has raised its dividends by 35.7% over the past five years. The combination of these factors should allow Pfizer to recover from its poor year-to-date performance and provide solid returns for long term 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. | In case you do, and if you still have $2,000 lying around, here are two stocks that could be great long-term picks: Abbott Laboratories (NYSE: ABT) and Pfizer (NYSE: PFE). ABT data by YCharts 1. In particular, Abbott's diabetes care segment is performing well, largely thanks to its continuous glucose monitoring (CGM) system called the FreeStyle Libre. | In case you do, and if you still have $2,000 lying around, here are two stocks that could be great long-term picks: Abbott Laboratories (NYSE: ABT) and Pfizer (NYSE: PFE). ABT data by YCharts 1. Abbott Laboratories Abbott Laboratories has developed five COVID-19 diagnostic tests, one of which is the ID Now COVID-19 antibody test. | In case you do, and if you still have $2,000 lying around, here are two stocks that could be great long-term picks: Abbott Laboratories (NYSE: ABT) and Pfizer (NYSE: PFE). ABT data by YCharts 1. During the second quarter, the company's diagnostics segments reported sales of about $2 billion -- a 7.1% year-over-year organic increase -- which the company largely attributed to its newly developed coronavirus tests. | In case you do, and if you still have $2,000 lying around, here are two stocks that could be great long-term picks: Abbott Laboratories (NYSE: ABT) and Pfizer (NYSE: PFE). ABT data by YCharts 1. During the first and second quarters, sales of this device increased by 62.5% and 40% year over year, respectively. |
32548.0 | 2020-07-17 00:00:00 UTC | S&P 500 rises as traders weigh stimulus and virus worries | ABT | https://www.nasdaq.com/articles/sp-500-rises-as-traders-weigh-stimulus-and-virus-worries-2020-07-17 | nan | nan | By Noel Randewich
July 17 (Reuters) - The S&P 500 rose in choppy trading on Friday as investors weighed the prospect of more fiscal stimulus against fears of further business disruptions due to a record rise in COVID-19 cases.
Netflix NFLX.O tumbled 7% after the video streaming service forecast slower-than-expected subscriber growth during the third quarter, pulling the communication services sector .SPLRCL down 0.9%.
The S&P 500 utilities .SPLRCU, real estate .SPLRCR and healthcare .SPXHC indexes were among the session's strongest gainers.
The S&P 500 and the Dow are set to close the week higher after optimism over an eventual coronavirus vaccine and hopes of a post-pandemic economic recovery helped investors look past a continuous surge in COVID-19 cases. The United States witnessed 77,000 new infections on Thursday.
The Nasdaq was set to end the week lower as investors sold shares of high-flying companies including Microsoft Corp MSFT.O and Amazon.com Inc AMZN.O and moved into cyclical sectors.
Next week, second-quarter earnings season shifts into high gear with reports expected from corporate heavyweights including Microsoft MSFT.O, Tesla TSLA.O, Intel INTC.Oand Verizon Communications VZ.N.
With this year largely written off as a disaster for U.S. corporations because of the coronavirus, investors are looking for information from companies about the potential size and timing of an eventual recovery.
“The question is what 2021 and 2022 look like, and what can folks glean from the commentary, especially when companies have withdrawn their guidance and made it difficult to get a sense of what their prospects look like,” said Tom Hainlin, National Investment Strategist at U.S. Bank Wealth Management.
Abbott Laboratories <ABT.N> rose 3.2%, lifting the S&P 500 more than any other stock. A 1.7% drop in Boeing BA.Nhelped keep the Dow in negative territory.
At 2:31 p.m. ET (1831 GMT), the Dow Jones Industrial Average .DJI was down 0.11% at 26,704.98 points, while the S&P 500 .SPX gained 0.33% to 3,226.23.
The Nasdaq Composite .IXIC added 0.3% to 10,504.76.
Unprecedented stimulus measures and improving economic data have helped the S&P 500 rise to within 5% of its February record high.
Investors are also hoping for more fiscal support as a program that offers additional unemployment benefits is set to expire on July 31. The U.S. Congress will return to Washington on Monday to debate another coronavirus aid bill.
"Both Republicans and Democrats have a strong incentive to agree upon further pre-election stimulus. It's not a matter of 'if' a stimulus passes, it's just what the size and content of that package looks like," said Andrea Bevis, senior vice president, UBS Private Wealth Management, based in Boston.
BlackRock Inc BLK.N, the world's largest asset manager, rose 3.9% after reporting a jump in quarterly profit as investors poured money into its fixed-income funds and cash management services.
Advancing issues outnumbered declining ones on the NYSE by a 1.40-to-1 ratio; on Nasdaq, a 1.48-to-1 ratio favored advancers.
The S&P 500 posted 37 new 52-week highs and no new lows; the Nasdaq Composite recorded 81 new highs and seven new lows.
(Reporting by Devik Jain and Medha Singh in Bengaluru Editing by Marguerita Choy)
((noel.randewich@tr.com; (415) 677 2542; Reuters Messaging: Twitter: @randewich))
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 3.2%, lifting the S&P 500 more than any other stock. By Noel Randewich July 17 (Reuters) - The S&P 500 rose in choppy trading on Friday as investors weighed the prospect of more fiscal stimulus against fears of further business disruptions due to a record rise in COVID-19 cases. The S&P 500 and the Dow are set to close the week higher after optimism over an eventual coronavirus vaccine and hopes of a post-pandemic economic recovery helped investors look past a continuous surge in COVID-19 cases. | Abbott Laboratories <ABT.N> rose 3.2%, lifting the S&P 500 more than any other stock. The S&P 500 and the Dow are set to close the week higher after optimism over an eventual coronavirus vaccine and hopes of a post-pandemic economic recovery helped investors look past a continuous surge in COVID-19 cases. The Nasdaq was set to end the week lower as investors sold shares of high-flying companies including Microsoft Corp MSFT.O and Amazon.com Inc AMZN.O and moved into cyclical sectors. | Abbott Laboratories <ABT.N> rose 3.2%, lifting the S&P 500 more than any other stock. By Noel Randewich July 17 (Reuters) - The S&P 500 rose in choppy trading on Friday as investors weighed the prospect of more fiscal stimulus against fears of further business disruptions due to a record rise in COVID-19 cases. The S&P 500 and the Dow are set to close the week higher after optimism over an eventual coronavirus vaccine and hopes of a post-pandemic economic recovery helped investors look past a continuous surge in COVID-19 cases. | Abbott Laboratories <ABT.N> rose 3.2%, lifting the S&P 500 more than any other stock. The S&P 500 and the Dow are set to close the week higher after optimism over an eventual coronavirus vaccine and hopes of a post-pandemic economic recovery helped investors look past a continuous surge in COVID-19 cases. Unprecedented stimulus measures and improving economic data have helped the S&P 500 rise to within 5% of its February record high. |
32549.0 | 2020-07-16 00:00:00 UTC | Abbott Laboratories Beats on Q2 Estimates, But Stock Slides | ABT | https://www.nasdaq.com/articles/abbott-laboratories-beats-on-q2-estimates-but-stock-slides-2020-07-16 | nan | nan | Although it's popular as a coronavirus stock these days, Abbot Laboratories (NYSE: ABT) nevertheless is struggling with other areas of its business. This was revealed in the company's second quarter of fiscal 2020 results, which it published Thursday morning.
The quarter saw the healthcare mainstay's total sales fall by 8% on a year-over-year basis to $7.33 billion. Non-GAAP (adjusted) net earnings declined at a 47% clip, meanwhile, to $537 million, or $0.57 per share.
Image source: Getty Images.
Analysts tracking the stock were expecting worse. On average, they believed Abbott would take in $6.81 billion in sales and post an adjusted net profit of $0.42 per share.
Two of the company's four business lines -- its largest, medical devices, and established pharmaceuticals -- saw notably lower sales during the quarter, falling a respective 21% and nearly 9%. Nutrition was stagnant. Diagnostics, however, was a standout with growth of just under 5%.
The reason for this is the company's COVID-19 testing solutions, which are offered on five diagnostic platforms. All told, Abbott drew $615 million in sales from such offerings.
The company expects demand for COVID-19 diagnostics to remain robust and positively impact the bottom line; after all, the virus continues to spread throughout the U.S., if not necessarily abroad. Abbott proffered adjusted per-share earnings guidance of at least $3.25 for this year, well above the average analyst projection of $2.90.
A Dividend Aristocrat, Abbott also declared its upcoming quarterly distribution. Like the two trailing payments, this will be $0.36 per share, payable on Aug. 17 to investors of record as of July 15. It yields 1.5%.
Despite the sales and earnings beats, Abbott's shares dipped by 0.3% on Thursday. This was essentially in step with the declines of the leading equity indexes.
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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. | Although it's popular as a coronavirus stock these days, Abbot Laboratories (NYSE: ABT) nevertheless is struggling with other areas of its business. Two of the company's four business lines -- its largest, medical devices, and established pharmaceuticals -- saw notably lower sales during the quarter, falling a respective 21% and nearly 9%. The company expects demand for COVID-19 diagnostics to remain robust and positively impact the bottom line; after all, the virus continues to spread throughout the U.S., if not necessarily abroad. | Although it's popular as a coronavirus stock these days, Abbot Laboratories (NYSE: ABT) nevertheless is struggling with other areas of its business. Non-GAAP (adjusted) net earnings declined at a 47% clip, meanwhile, to $537 million, or $0.57 per share. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | Although it's popular as a coronavirus stock these days, Abbot Laboratories (NYSE: ABT) nevertheless is struggling with other areas of its business. 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! | Although it's popular as a coronavirus stock these days, Abbot Laboratories (NYSE: ABT) nevertheless is struggling with other areas of its business. Non-GAAP (adjusted) net earnings declined at a 47% clip, meanwhile, to $537 million, or $0.57 per share. * 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! |
32550.0 | 2020-07-16 00:00:00 UTC | Health Care Sector Update for 07/16/2020: TCDA, TLSA, ABT, XLV, IBB | ABT | https://www.nasdaq.com/articles/health-care-sector-update-for-07-16-2020%3A-tcda-tlsa-abt-xlv-ibb-2020-07-16 | nan | nan | Health care firms were slipping premarket Thursday as the Health Care SPDR (XLV) was down 0.2% and the iShares NASDAQ Biotechnology Index (IBB) was 0.8% lower recently.
Tricida (TCDA) declined by more than 33% after saying the US Food and Drug Administration has found deficiencies in its new drug application for veverimer to treat metabolic acidosis in patients with chronic kidney disease.
Tiziana Life Sciences (TLSA) retreated more than 4%. The company said Thursday it has submitted a patent application on the potential use of the anti-CD3 monoclonal antibody Foralumab to improve the effectiveness of CAR-T therapy in cancer and other diseases.
Meanwhile, Abbott (ABT) gained 1% after reporting on Thursday Q2 adjusted EPS of $0.57, down from $0.82 a year earlier, but higher than the $0.42 average estimate of analysts surveyed by Capital IQ.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Meanwhile, Abbott (ABT) gained 1% after reporting on Thursday Q2 adjusted EPS of $0.57, down from $0.82 a year earlier, but higher than the $0.42 average estimate of analysts surveyed by Capital IQ. Tricida (TCDA) declined by more than 33% after saying the US Food and Drug Administration has found deficiencies in its new drug application for veverimer to treat metabolic acidosis in patients with chronic kidney disease. The company said Thursday it has submitted a patent application on the potential use of the anti-CD3 monoclonal antibody Foralumab to improve the effectiveness of CAR-T therapy in cancer and other diseases. | Meanwhile, Abbott (ABT) gained 1% after reporting on Thursday Q2 adjusted EPS of $0.57, down from $0.82 a year earlier, but higher than the $0.42 average estimate of analysts surveyed by Capital IQ. Health care firms were slipping premarket Thursday as the Health Care SPDR (XLV) was down 0.2% and the iShares NASDAQ Biotechnology Index (IBB) was 0.8% lower recently. Tricida (TCDA) declined by more than 33% after saying the US Food and Drug Administration has found deficiencies in its new drug application for veverimer to treat metabolic acidosis in patients with chronic kidney disease. | Meanwhile, Abbott (ABT) gained 1% after reporting on Thursday Q2 adjusted EPS of $0.57, down from $0.82 a year earlier, but higher than the $0.42 average estimate of analysts surveyed by Capital IQ. Health care firms were slipping premarket Thursday as the Health Care SPDR (XLV) was down 0.2% and the iShares NASDAQ Biotechnology Index (IBB) was 0.8% lower recently. Tricida (TCDA) declined by more than 33% after saying the US Food and Drug Administration has found deficiencies in its new drug application for veverimer to treat metabolic acidosis in patients with chronic kidney disease. | Meanwhile, Abbott (ABT) gained 1% after reporting on Thursday Q2 adjusted EPS of $0.57, down from $0.82 a year earlier, but higher than the $0.42 average estimate of analysts surveyed by Capital IQ. Health care firms were slipping premarket Thursday as the Health Care SPDR (XLV) was down 0.2% and the iShares NASDAQ Biotechnology Index (IBB) was 0.8% lower recently. Tricida (TCDA) declined by more than 33% after saying the US Food and Drug Administration has found deficiencies in its new drug application for veverimer to treat metabolic acidosis in patients with chronic kidney disease. |
32551.0 | 2020-07-16 00:00:00 UTC | Abbott quarterly profit beats as COVID-19 tests cushion virus impact | ABT | https://www.nasdaq.com/articles/abbott-quarterly-profit-beats-as-covid-19-tests-cushion-virus-impact-2020-07-16 | nan | nan | Adds details on the quarter, estimates
July 16 (Reuters) - Abbott Laboratories ABT.N on Thursday reported a better-than-anticipated quarterly profit as a surge in sales of its coronavirus tests helped it cushion a fall in demand for its devices due to virus-induced lockdowns and deferred elective care.
The company has been pinning hopes on its coronavirus tests to help it sail over virus-led challenges. It has since March won U.S. authorization for five coronavirus tests, including two antibody tests, an automated test used in labs and a test that can deliver results within minutes and is used at the White House.
Excluding items, the company earned 57 cents per share, beating consensus of 42 cents per share, according to Refinitiv IBES data.
Abbott's diagnostics unit, which also sells its newly authorized COVID-19 tests, brought in sales of $1.99 billion in the second quarter, a 4.7% jump from a year earlier.
The company, which suspended its full-year forecast in April due to uncertainties about the extent of impact from the outbreak, said it now sees adjusted earnings of at least $3.25 per share for the year.
Net sales fell to $7.33 billion from $7.98 billion, but came above estimates of $6.81 billion, helped by $615 million in sales from COVID-19 tests.
(Reporting by Trisha Roy and Manojna Maddipatla in Bengaluru; Editing by Maju Samuel)
((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. | Adds details on the quarter, estimates July 16 (Reuters) - Abbott Laboratories ABT.N on Thursday reported a better-than-anticipated quarterly profit as a surge in sales of its coronavirus tests helped it cushion a fall in demand for its devices due to virus-induced lockdowns and deferred elective care. Abbott's diagnostics unit, which also sells its newly authorized COVID-19 tests, brought in sales of $1.99 billion in the second quarter, a 4.7% jump from a year earlier. The company, which suspended its full-year forecast in April due to uncertainties about the extent of impact from the outbreak, said it now sees adjusted earnings of at least $3.25 per share for the year. | Adds details on the quarter, estimates July 16 (Reuters) - Abbott Laboratories ABT.N on Thursday reported a better-than-anticipated quarterly profit as a surge in sales of its coronavirus tests helped it cushion a fall in demand for its devices due to virus-induced lockdowns and deferred elective care. Excluding items, the company earned 57 cents per share, beating consensus of 42 cents per share, according to Refinitiv IBES data. Net sales fell to $7.33 billion from $7.98 billion, but came above estimates of $6.81 billion, helped by $615 million in sales from COVID-19 tests. | Adds details on the quarter, estimates July 16 (Reuters) - Abbott Laboratories ABT.N on Thursday reported a better-than-anticipated quarterly profit as a surge in sales of its coronavirus tests helped it cushion a fall in demand for its devices due to virus-induced lockdowns and deferred elective care. It has since March won U.S. authorization for five coronavirus tests, including two antibody tests, an automated test used in labs and a test that can deliver results within minutes and is used at the White House. Net sales fell to $7.33 billion from $7.98 billion, but came above estimates of $6.81 billion, helped by $615 million in sales from COVID-19 tests. | Adds details on the quarter, estimates July 16 (Reuters) - Abbott Laboratories ABT.N on Thursday reported a better-than-anticipated quarterly profit as a surge in sales of its coronavirus tests helped it cushion a fall in demand for its devices due to virus-induced lockdowns and deferred elective care. The company has been pinning hopes on its coronavirus tests to help it sail over virus-led challenges. It has since March won U.S. authorization for five coronavirus tests, including two antibody tests, an automated test used in labs and a test that can deliver results within minutes and is used at the White House. |
32552.0 | 2020-07-16 00:00:00 UTC | Abbott Laboratories Sees FY20 Adj. Earnings Above Estimates - Quick Facts | ABT | https://www.nasdaq.com/articles/abbott-laboratories-sees-fy20-adj.-earnings-above-estimates-quick-facts-2020-07-16 | nan | nan | (RTTNews) - While reporting its second-quarter financial results on Thursday, medical devices and healthcare company Abbott Laboratories (ABT) forecast fiscal 2020 earnings per share from continuing operations of at least $2.00, and adjusted earnings per share from continuing operations of at least $3.25.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.84 per share for the year. Analysts' estimates typically exclude special items.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - While reporting its second-quarter financial results on Thursday, medical devices and healthcare company Abbott Laboratories (ABT) forecast fiscal 2020 earnings per share from continuing operations of at least $2.00, and adjusted earnings per share from continuing operations of at least $3.25. On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.84 per share for the year. Analysts' estimates typically exclude special items. | (RTTNews) - While reporting its second-quarter financial results on Thursday, medical devices and healthcare company Abbott Laboratories (ABT) forecast fiscal 2020 earnings per share from continuing operations of at least $2.00, and adjusted earnings per share from continuing operations of at least $3.25. On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.84 per share for the year. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - While reporting its second-quarter financial results on Thursday, medical devices and healthcare company Abbott Laboratories (ABT) forecast fiscal 2020 earnings per share from continuing operations of at least $2.00, and adjusted earnings per share from continuing operations of at least $3.25. On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.84 per share for the year. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - While reporting its second-quarter financial results on Thursday, medical devices and healthcare company Abbott Laboratories (ABT) forecast fiscal 2020 earnings per share from continuing operations of at least $2.00, and adjusted earnings per share from continuing operations of at least $3.25. On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.84 per share for the year. Analysts' estimates typically exclude special items. |
32553.0 | 2020-07-16 00:00:00 UTC | Abbott quarterly profit plunges as COVID-19 batters medical device unit | ABT | https://www.nasdaq.com/articles/abbott-quarterly-profit-plunges-as-covid-19-batters-medical-device-unit-2020-07-16 | nan | nan | July 16 (Reuters) - Abbott Laboratories ABT.N on Thursday reported a 46.6% fall in second-quarter profit as the COVID-19 pandemic continued to batter its medical device unit.
The company's net earnings fell to $$537 million, or 30 cents per share, in the quarter ended June 30, from $1 billion, or 56 cents per share, a year earlier.
Net sales fell to $7.33 billion from $7.98 billion.
(Reporting by Trisha Roy and Manojna Maddipatla in Bengaluru; Editing by Maju Samuel)
((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 3635;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | July 16 (Reuters) - Abbott Laboratories ABT.N on Thursday reported a 46.6% fall in second-quarter profit as the COVID-19 pandemic continued to batter its medical device unit. The company's net earnings fell to $$537 million, or 30 cents per share, in the quarter ended June 30, from $1 billion, or 56 cents per share, a year earlier. (Reporting by Trisha Roy and Manojna Maddipatla in Bengaluru; Editing by Maju Samuel) ((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. | July 16 (Reuters) - Abbott Laboratories ABT.N on Thursday reported a 46.6% fall in second-quarter profit as the COVID-19 pandemic continued to batter its medical device unit. The company's net earnings fell to $$537 million, or 30 cents per share, in the quarter ended June 30, from $1 billion, or 56 cents per share, a year earlier. Net sales fell to $7.33 billion from $7.98 billion. | July 16 (Reuters) - Abbott Laboratories ABT.N on Thursday reported a 46.6% fall in second-quarter profit as the COVID-19 pandemic continued to batter its medical device unit. The company's net earnings fell to $$537 million, or 30 cents per share, in the quarter ended June 30, from $1 billion, or 56 cents per share, a year earlier. (Reporting by Trisha Roy and Manojna Maddipatla in Bengaluru; Editing by Maju Samuel) ((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. | July 16 (Reuters) - Abbott Laboratories ABT.N on Thursday reported a 46.6% fall in second-quarter profit as the COVID-19 pandemic continued to batter its medical device unit. The company's net earnings fell to $$537 million, or 30 cents per share, in the quarter ended June 30, from $1 billion, or 56 cents per share, a year earlier. Net sales fell to $7.33 billion from $7.98 billion. |
32554.0 | 2020-07-16 00:00:00 UTC | Abbott Laboratories Q2 adjusted earnings Beat Estimates | ABT | https://www.nasdaq.com/articles/abbott-laboratories-q2-adjusted-earnings-beat-estimates-2020-07-16 | nan | nan | (RTTNews) - Abbott Laboratories (ABT) reported earnings for second quarter that declined from the same period last year.
The company's earnings came in at $537 million, or $0.30 per share. This compares with $1006 million, or $0.56 per share, in last year's second quarter.
Excluding items, Abbott Laboratories reported adjusted earnings of $1.02 billion or $0.57 per share for the period.
Analysts had expected the company to earn $0.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 8.1% to $7.33 billion from $7.98 billion last year.
Abbott Laboratories earnings at a glance:
-Earnings (Q2): $1.02 Bln. vs. $1.47 Bln. last year. -EPS (Q2): $0.57 vs. $0.82 last year. -Analysts Estimate: $0.41 -Revenue (Q2): $7.33 Bln vs. $7.98 Bln last year.
-Guidance: Full year EPS guidance: $3.25
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 earnings for second quarter that declined from the same period last year. Excluding items, Abbott Laboratories reported adjusted earnings of $1.02 billion or $0.57 per share for the period. Analysts had expected the company to earn $0.41 per share, according to figures compiled by Thomson Reuters. | (RTTNews) - Abbott Laboratories (ABT) reported earnings for second quarter that declined from the same period last year. Excluding items, Abbott Laboratories reported adjusted earnings of $1.02 billion or $0.57 per share for the period. -Analysts Estimate: $0.41 -Revenue (Q2): $7.33 Bln vs. $7.98 Bln last year. | (RTTNews) - Abbott Laboratories (ABT) reported earnings for second quarter that declined from the same period last year. Excluding items, Abbott Laboratories reported adjusted earnings of $1.02 billion or $0.57 per share for the period. -Analysts Estimate: $0.41 -Revenue (Q2): $7.33 Bln vs. $7.98 Bln last year. | (RTTNews) - Abbott Laboratories (ABT) reported earnings for second quarter that declined from the same period last year. Excluding items, Abbott Laboratories reported adjusted earnings of $1.02 billion or $0.57 per share for the period. -Analysts Estimate: $0.41 -Revenue (Q2): $7.33 Bln vs. $7.98 Bln last year. |
32555.0 | 2020-07-16 00:00:00 UTC | U.S. stock futures fall as China data weighs ahead of bank earnings, economic data | ABT | https://www.nasdaq.com/articles/u.s.-stock-futures-fall-as-china-data-weighs-ahead-of-bank-earnings-economic-data-2020-07 | nan | nan | By Medha Singh and Devik Jain
July 16 (Reuters) - U.S. stock index futures fell on Thursday after a surprise drop in China's retail sales signaled a bumpy economic recovery, with investors now turning to the next set of quarterly bank earnings and economic data to gauge the pace of a domestic rebound.
U.S. retail sales for June and weekly jobless claims, both due at 8:30 a.m. ET, are likely to show the economy continuing to limp out of a coronavirus-driven slump as several states eased lockdowns from May.
But a recent surge in domestic coronavirus cases have forced states such as California to shut down again, sparking fears of more economic damage and slowing the pace of a Wall Street rally.
Stock markets in Asia and Europe fell earlier in the day after data showed China's retail sales fell 1.8% in June. Stocks in mainland China .SSEC sank 4.5%. MKTS/GLOB
At home, Bank of America Corp BAC.N shares edged lower after it reported a more than 50% decline in second-quarter profit, setting aside $4 billion for potential loan losses tied to the coronavirus pandemic.
Morgan Stanley MS.N is due to report quarterly results later in the day, wrapping up what has been a mixed bag of quarterly earnings updates from the top six U.S. lenders.
Johnson & Johnson JNJ.N was flat as it posted a 35.3% fall in quarterly profit as demand for its medical devices was hammered by hospitals putting off non-urgent procedures such as knee and hip replacement.
Diversified manufacturer Honeywell HON.N and medical device maker Abbott Laboratories ABT.N are also slated to report their quarterly results on Thursday.
At 6:29 a.m. ET, Dow e-minis 1YMcv1 were down 179 points, or 0.67%, S&P 500 e-minis EScv1 were down 23.75 points, or 0.74% and Nasdaq 100 e-minis NQcv1 were down 150 points, or 1.4%.
Twitter Inc TWTR.N fell 6.6% in premarket trading as hackers accessed its internal systems to hijack some of the platform's top voices including U.S. presidential candidate Joe Biden, reality TV star Kim Kardashian West, former U.S. President Barack Obama and billionaire Elon Musk and used them to solicit digital currency.
Tesla Inc TSLA.O dropped 4.9% as its vehicle registrations nearly halved in the U.S. state of California during the second quarter, according to data from a marketing research firm.
(Reporting by Medha Singh and Devik Jain in Bengaluru; Editing by Maju Samuel)
((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2062; ;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Diversified manufacturer Honeywell HON.N and medical device maker Abbott Laboratories ABT.N are also slated to report their quarterly results on Thursday. But a recent surge in domestic coronavirus cases have forced states such as California to shut down again, sparking fears of more economic damage and slowing the pace of a Wall Street rally. MKTS/GLOB At home, Bank of America Corp BAC.N shares edged lower after it reported a more than 50% decline in second-quarter profit, setting aside $4 billion for potential loan losses tied to the coronavirus pandemic. | Diversified manufacturer Honeywell HON.N and medical device maker Abbott Laboratories ABT.N are also slated to report their quarterly results on Thursday. By Medha Singh and Devik Jain July 16 (Reuters) - U.S. stock index futures fell on Thursday after a surprise drop in China's retail sales signaled a bumpy economic recovery, with investors now turning to the next set of quarterly bank earnings and economic data to gauge the pace of a domestic rebound. Stock markets in Asia and Europe fell earlier in the day after data showed China's retail sales fell 1.8% in June. | Diversified manufacturer Honeywell HON.N and medical device maker Abbott Laboratories ABT.N are also slated to report their quarterly results on Thursday. By Medha Singh and Devik Jain July 16 (Reuters) - U.S. stock index futures fell on Thursday after a surprise drop in China's retail sales signaled a bumpy economic recovery, with investors now turning to the next set of quarterly bank earnings and economic data to gauge the pace of a domestic rebound. Stock markets in Asia and Europe fell earlier in the day after data showed China's retail sales fell 1.8% in June. | Diversified manufacturer Honeywell HON.N and medical device maker Abbott Laboratories ABT.N are also slated to report their quarterly results on Thursday. By Medha Singh and Devik Jain July 16 (Reuters) - U.S. stock index futures fell on Thursday after a surprise drop in China's retail sales signaled a bumpy economic recovery, with investors now turning to the next set of quarterly bank earnings and economic data to gauge the pace of a domestic rebound. Stock markets in Asia and Europe fell earlier in the day after data showed China's retail sales fell 1.8% in June. |
32556.0 | 2020-07-16 00:00:00 UTC | Abbott Laboratories Q2 20 Earnings Conference Call At 9:30 AM ET | ABT | https://www.nasdaq.com/articles/abbott-laboratories-q2-20-earnings-conference-call-at-9%3A30-am-et-2020-07-16 | nan | nan | (RTTNews) - Abbott Laboratories (ABT) will host a conference call at 9:30 AM ET on July 16, 2020, to discuss Q2 20 earnings results.
To access the live webcast, log on to http://www.abbottinvestor.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott Laboratories (ABT) will host a conference call at 9:30 AM ET on July 16, 2020, to discuss Q2 20 earnings results. To access the live webcast, log on to http://www.abbottinvestor.com The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott Laboratories (ABT) will host a conference call at 9:30 AM ET on July 16, 2020, to discuss Q2 20 earnings results. To access the live webcast, log on to http://www.abbottinvestor.com The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott Laboratories (ABT) will host a conference call at 9:30 AM ET on July 16, 2020, to discuss Q2 20 earnings results. To access the live webcast, log on to http://www.abbottinvestor.com The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott Laboratories (ABT) will host a conference call at 9:30 AM ET on July 16, 2020, to discuss Q2 20 earnings results. To access the live webcast, log on to http://www.abbottinvestor.com The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
32557.0 | 2020-07-16 00:00:00 UTC | Abbott Labs' Earnings Sink in Q2 but Still Trounce Wall Street Estimates | ABT | https://www.nasdaq.com/articles/abbott-labs-earnings-sink-in-q2-but-still-trounce-wall-street-estimates-2020-07-16 | nan | nan | Abbott Labs (NYSE: ABT) suspended its full-year 2020 guidance in April because of uncertainty about the COVID-19 pandemic. But the company appeared to be in a great position to continue its winning ways after posting solid first-quarter results.
Investors found out whether or not Abbott continued to win on Thursday with the healthcare giant announcing its second-quarter results before the market opened. Here are the highlights from Abbott's Q2 update.
Image source: Abbott Labs.
By the numbers
Abbott reported revenue in the second quarter of $7.3 billion. This result was down 8.2% year over year. However, it handily topped the consensus Wall Street estimate of $6.75 billion.
The company announced Q2 net income of $537 million, or $0.30 per share, based on generally accepted accounting principles (GAAP). This represented a marked decline from GAAP earnings of $1 billion, or $0.56 per share, reported in the same quarter of 2019.
On a non-GAAP adjusted basis, Abbott generated net income in the second quarter of $0.57 per share. This reflected a 30% drop from adjusted earnings of $0.82 per share in the prior-year period. But it trounced the average analysts' Q2 adjusted earnings estimate of $0.41 per share.
Behind the numbers
Why did Abbott's revenue and earnings fall so much? Blame it mainly on COVID-19. However, currency fluctuations were also a culprit in the company's revenue decline. While Abbott's revenue slid 8.2% year over year on a reported basis, the decrease was 5.4% on an organic constant-currency basis.
The COVID-19 pandemic especially impacted Abbott's medical device business. The company reported that worldwide medical device sales sank 21.2% year over year in Q2 as procedures were pushed back as a result of the coronavirus outbreak.
Abbott's established pharmaceuticals sales also fell 8.6% year over year primarily due to lower demand in Brazil, Colombia, and Russia due to the COVID-19 pandemic. However, the unit's sales in China jumped by a double-digit percentage.
It wasn't all bad news for Abbott in Q2, though. Worldwide nutrition sales rose 0.4% year over year (and 3.1% on an organic basis). This growth was driven largely by the company's Ensure adult nutrition brand and its Pedialyte oral rehydration products.
Diagnostics sales increased 4.7% year over year on a reported basis and 7.1% on an organic basis. There were several bright spots. Molecular diagnostics sales skyrocketed 233.6% thanks to surging demand for Abbott's COVID-19 tests for the m2000 and Alinity m platforms. Rapid diagnostics sales jumped 9.6%, largely as a result of demand for ID NOW platform COVID-19 tests. And diabetes care revenue soared 36.8% year over year due to continued adoption of Abbott's Freestyle Libre continuous glucose monitoring (CGM) system.
Looking ahead
Abbott expects full-year 2020 diluted earnings per share (EPS) from continuing operations on a GAAP basis of at least $2.00. It also projects adjusted diluted EPS from continuing operations for the full year of at least $3.25.
Freestyle Libre should become an even bigger winner for Abbott in the second half of the year. The company won U.S. Food and Drug Administration clearance for Freestyle Libre 2 in June.
The main wild card for Abbott throughout the rest of 2020 is the COVID-19 pandemic. As seen in the second quarter, the coronavirus outbreak helps Abbott in some ways but hurts it overall. The healthcare stock could see increased volatility if the COVID-19 pandemic worsens in the fall.
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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 (NYSE: ABT) suspended its full-year 2020 guidance in April because of uncertainty about the COVID-19 pandemic. Investors found out whether or not Abbott continued to win on Thursday with the healthcare giant announcing its second-quarter results before the market opened. The company announced Q2 net income of $537 million, or $0.30 per share, based on generally accepted accounting principles (GAAP). | Abbott Labs (NYSE: ABT) suspended its full-year 2020 guidance in April because of uncertainty about the COVID-19 pandemic. The company reported that worldwide medical device sales sank 21.2% year over year in Q2 as procedures were pushed back as a result of the coronavirus outbreak. And diabetes care revenue soared 36.8% year over year due to continued adoption of Abbott's Freestyle Libre continuous glucose monitoring (CGM) system. | Abbott Labs (NYSE: ABT) suspended its full-year 2020 guidance in April because of uncertainty about the COVID-19 pandemic. While Abbott's revenue slid 8.2% year over year on a reported basis, the decrease was 5.4% on an organic constant-currency basis. Abbott's established pharmaceuticals sales also fell 8.6% year over year primarily due to lower demand in Brazil, Colombia, and Russia due to the COVID-19 pandemic. | Abbott Labs (NYSE: ABT) suspended its full-year 2020 guidance in April because of uncertainty about the COVID-19 pandemic. This result was down 8.2% year over year. Diagnostics sales increased 4.7% year over year on a reported basis and 7.1% on an organic basis. |
32558.0 | 2020-07-16 00:00:00 UTC | ITOT, ABT, CL, MS: Large Outflows Detected at ETF | ABT | https://www.nasdaq.com/articles/itot-abt-cl-ms%3A-large-outflows-detected-at-etf-2020-07-16 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Core S&P Total U.S. Stock Market ETF (Symbol: ITOT) where we have detected an approximate $58.0 million dollar outflow -- that's a 0.2% decrease week over week (from 359,400,000 to 358,600,000). Among the largest underlying components of ITOT, in trading today Abbott Laboratories (Symbol: ABT) is down about 0.4%, Colgate-Palmolive Co. (Symbol: CL) is up about 0.1%, and Morgan Stanley (Symbol: MS) is higher by about 2.3%. For a complete list of holdings, visit the ITOT Holdings page » The chart below shows the one year price performance of ITOT, versus its 200 day moving average:
Looking at the chart above, ITOT's low point in its 52 week range is $48.52 per share, with $76.57 as the 52 week high point — that compares with a last trade of $72.04. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of ITOT, in trading today Abbott Laboratories (Symbol: ABT) is down about 0.4%, Colgate-Palmolive Co. (Symbol: CL) is up about 0.1%, and Morgan Stanley (Symbol: MS) is higher by about 2.3%. For a complete list of holdings, visit the ITOT Holdings page » The chart below shows the one year price performance of ITOT, versus its 200 day moving average: Looking at the chart above, ITOT's low point in its 52 week range is $48.52 per share, with $76.57 as the 52 week high point — that compares with a last trade of $72.04. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of ITOT, in trading today Abbott Laboratories (Symbol: ABT) is down about 0.4%, Colgate-Palmolive Co. (Symbol: CL) is up about 0.1%, and Morgan Stanley (Symbol: MS) is higher by about 2.3%. For a complete list of holdings, visit the ITOT Holdings page » The chart below shows the one year price performance of ITOT, versus its 200 day moving average: Looking at the chart above, ITOT's low point in its 52 week range is $48.52 per share, with $76.57 as the 52 week high point — that compares with a last trade of $72.04. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). | Among the largest underlying components of ITOT, in trading today Abbott Laboratories (Symbol: ABT) is down about 0.4%, Colgate-Palmolive Co. (Symbol: CL) is up about 0.1%, and Morgan Stanley (Symbol: MS) is higher by about 2.3%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Core S&P Total U.S. Stock Market ETF (Symbol: ITOT) where we have detected an approximate $58.0 million dollar outflow -- that's a 0.2% decrease week over week (from 359,400,000 to 358,600,000). For a complete list of holdings, visit the ITOT Holdings page » The chart below shows the one year price performance of ITOT, versus its 200 day moving average: Looking at the chart above, ITOT's low point in its 52 week range is $48.52 per share, with $76.57 as the 52 week high point — that compares with a last trade of $72.04. | Among the largest underlying components of ITOT, in trading today Abbott Laboratories (Symbol: ABT) is down about 0.4%, Colgate-Palmolive Co. (Symbol: CL) is up about 0.1%, and Morgan Stanley (Symbol: MS) is higher by about 2.3%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Core S&P Total U.S. Stock Market ETF (Symbol: ITOT) where we have detected an approximate $58.0 million dollar outflow -- that's a 0.2% decrease week over week (from 359,400,000 to 358,600,000). For a complete list of holdings, visit the ITOT Holdings page » The chart below shows the one year price performance of ITOT, versus its 200 day moving average: Looking at the chart above, ITOT's low point in its 52 week range is $48.52 per share, with $76.57 as the 52 week high point — that compares with a last trade of $72.04. |
32559.0 | 2020-07-14 00:00:00 UTC | Why Big Pharma's $1 Billion Bet to Prevent a Bacterial Pandemic Matters for You | ABT | https://www.nasdaq.com/articles/why-big-pharmas-%241-billion-bet-to-prevent-a-bacterial-pandemic-matters-for-you-2020-07-14 | nan | nan | Some might think of big pharmaceutical companies as cutthroat corporations only interested in their own profits and self-preservation. But what if told you that several big pharma companies are together investing close to $1 billion to help smaller biotechs?
Believe it or not, that's exactly what's happening. Last week, over 20 top drugmakers announced the launch of the AMR Action Fund. Key investors in the AMR Action Fund include Pfizer (NYSE: PFE), Roche (OTC: RHHBY), Eli Lilly (NYSE: LLY), Merck (NYSE: MRK), and Johnson & Johnson (NYSE: JNJ). These and other leading companies in the biopharmaceutical industry have already raised nearly $1 billion and hope to increase the total to more than $1 billion.
Here's why these big pharma companies are ponying up so much money to help small biotechs -- and why it matters for you.
Image source: Getty Images.
Behind the big bet
There's one simple goal for big pharma's partnership with the AMR Action Fund: Develop between two and four new antibiotics by the end of the decade. We have plenty of antibiotics available now, so what's the big deal?
The "AMR" in AMR Action Fund stands for antimicrobial resistance. Bacteria and other microbes continually mutate and develop resistance to current antibiotics. This escalating antimicrobial resistance means that new antibiotics are needed.
However, there are few new antibiotic candidates in development pipelines. Pfizer has a late-stage antibiotic candidate targeting bacteria that have developed resistance to current treatments. Roche's pipeline includes an antibody-antibiotic conjugate in phase 1 testing for treating staph infection. They're exceptions among large drugmakers, though.
The problem is that there's simply not a viable market for antibiotics right now. Several biotechs that focused on developing antibiotics have gone bankrupt or shifted their focus because of the lack of commercial potential for new antibiotics.
But scientists and industry experts know that the need for new antibiotics will intensify. That's why so many big pharma companies are stepping up to the plate. The AMR Action Fund will provide funding to the most promising new antibiotic candidates to help them advance through clinical testing. This financial assistance will hopefully give governments across the world enough time to change policies to avoid a global health crisis. In addition, the big drugmakers will lend their technical expertise to smaller companies with leading new antibiotics in development.
Why it matters for you
The main reason why big pharma's $1 billion bet matters for you is that a world with rampant bacteria that can't be treated would be more terrifying than COVID-19. The AMR Action Fund stated that antimicrobial resistance "is a looming global crisis that has the potential to dwarf COVID-19 in terms of deaths and economic costs."
Currently, around 700,000 people worldwide die due to antimicrobial resistance. That total could potentially escalate to as many as 10 million deaths per year by 2050.
This isn't a future problem, by the way. The Centers for Disease Control and Prevention's (CDC) 2019 Antibiotic Resistance Threats Report identified five microbes as urgent threats plus 11 others that are serious threats right now. Scientists think that up to 70% of bacteria have already developed some level of resistance to at least one antibiotic.
Without new antibiotics, even routine infections could become deadly. That could impact you or your loved ones in the not-too-distant future.
Investing with a superbug focus
It might seem strange that small antibiotic-focused biotech stocks wouldn't already attract investors. However, the convoluted market dynamics are such that investors' money is going elsewhere. The pharmaceutical industry's partnership with the AMR Action Fund could help these small companies.
In the meantime, are there any stocks that investors could buy that would likely benefit from efforts to fight potential superbugs? Two stocks stand out, in my view.
As mentioned earlier, Pfizer has a late-stage antibiotic candidate. The company's clinical study should wrap up late next year. The more important reasons to buy Pfizer stock, though, are its increased growth prospects after the merger of its Upjohn business with Mylan and the potential for the COVID-19 vaccine candidate that it's developing with BioNTech.
Another stock that I like is Abbott Labs (NYSE: ABT). The company is currently enjoying a sales boost for its diagnostics systems from the COVID-19 pandemic. If antimicrobial resistance becomes an even more worrisome threat in the future, Abbott would likely rank among the top players in diagnostics systems for detecting bacterial infection. And if the dire predictions don't pan out, Abbott has other products such as its Freestyle Libre continuous glucose monitoring system that will drive growth.
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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. | Another stock that I like is Abbott Labs (NYSE: ABT). The AMR Action Fund stated that antimicrobial resistance "is a looming global crisis that has the potential to dwarf COVID-19 in terms of deaths and economic costs." The more important reasons to buy Pfizer stock, though, are its increased growth prospects after the merger of its Upjohn business with Mylan and the potential for the COVID-19 vaccine candidate that it's developing with BioNTech. | Another stock that I like is Abbott Labs (NYSE: ABT). Key investors in the AMR Action Fund include Pfizer (NYSE: PFE), Roche (OTC: RHHBY), Eli Lilly (NYSE: LLY), Merck (NYSE: MRK), and Johnson & Johnson (NYSE: JNJ). Behind the big bet There's one simple goal for big pharma's partnership with the AMR Action Fund: Develop between two and four new antibiotics by the end of the decade. | Another stock that I like is Abbott Labs (NYSE: ABT). Key investors in the AMR Action Fund include Pfizer (NYSE: PFE), Roche (OTC: RHHBY), Eli Lilly (NYSE: LLY), Merck (NYSE: MRK), and Johnson & Johnson (NYSE: JNJ). Behind the big bet There's one simple goal for big pharma's partnership with the AMR Action Fund: Develop between two and four new antibiotics by the end of the decade. | Another stock that I like is Abbott Labs (NYSE: ABT). Behind the big bet There's one simple goal for big pharma's partnership with the AMR Action Fund: Develop between two and four new antibiotics by the end of the decade. However, there are few new antibiotic candidates in development pipelines. |
32560.0 | 2020-07-13 00:00:00 UTC | Abbott Laboratories and Edwards Lifesciences Settle Patent Fight | ABT | https://www.nasdaq.com/articles/abbott-laboratories-and-edwards-lifesciences-settle-patent-fight-2020-07-14 | nan | nan | Abbott Laboratories (NYSE: ABT) and Edwards Lifesciences (NYSE: EW) are burying the hatchet. The two healthcare companies announced in separate press releases that they have reached a settlement on a set of patent disputes centered on heart valve devices.
It puts to rest a dispute that grew increasingly hostile,after Abbott sued Edwards for patent infringement in January 2019 over the former company's MitraClip, which it describes as "the world's first transcatheter mitral valve repair therapy." The mitral valve is a gate of sorts between the left atrium and venticle of a heart; difficulties with its functioning can lead to mitral regurgitation, which is potentially fatal.
Image source: Getty Images.
The companies -- both major players in the medical device segment -- had lawsuits pending in several jurisdictions both in this country and abroad. According to the their agreement, all such cases and appeals will be dismissed, as will any injunctions. Also, Abbott and Edwards will not sue each other over transcatheter mitral and tricuspid repair products -- the goods at the center of the dispute -- over the next 10 years.
Abbott is to receive a one-time payment, plus royalties from sales of Edwards' popular PASCAL transcatheter valve repair system through May 2014. Saying that their agreement is confidential, neither side provided the financial particulars.
Outside of its tersely worded press release, Abbott did not proffer an opinion on the settlement. Edwards wrote that it "considers this agreement a positive development, as it allows the company to fully dedicate time and resources to helping patients."
The settlement doesn't seem to have affected investor sentiment on the two companies much. Abbott shares lagged slightly behind the gains of the wider stock market on Monday, while Edwards' fell by 0.9%.
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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) and Edwards Lifesciences (NYSE: EW) are burying the hatchet. The two healthcare companies announced in separate press releases that they have reached a settlement on a set of patent disputes centered on heart valve devices. It puts to rest a dispute that grew increasingly hostile,after Abbott sued Edwards for patent infringement in January 2019 over the former company's MitraClip, which it describes as "the world's first transcatheter mitral valve repair therapy." | Abbott Laboratories (NYSE: ABT) and Edwards Lifesciences (NYSE: EW) are burying the hatchet. The two healthcare companies announced in separate press releases that they have reached a settlement on a set of patent disputes centered on heart valve devices. It puts to rest a dispute that grew increasingly hostile,after Abbott sued Edwards for patent infringement in January 2019 over the former company's MitraClip, which it describes as "the world's first transcatheter mitral valve repair therapy." | Abbott Laboratories (NYSE: ABT) and Edwards Lifesciences (NYSE: EW) are burying the hatchet. It puts to rest a dispute that grew increasingly hostile,after Abbott sued Edwards for patent infringement in January 2019 over the former company's MitraClip, which it describes as "the world's first transcatheter mitral valve repair therapy." 10 stocks we like better than Abbott Laboratories When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | Abbott Laboratories (NYSE: ABT) and Edwards Lifesciences (NYSE: EW) are burying the hatchet. The two healthcare companies announced in separate press releases that they have reached a settlement on a set of patent disputes centered on heart valve devices. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. |
32561.0 | 2020-07-12 00:00:00 UTC | Have $5,000? 3 Coronavirus Stocks You Can Buy in July Without Losing Any Sleep | ABT | https://www.nasdaq.com/articles/have-%245000-3-coronavirus-stocks-you-can-buy-in-july-without-losing-any-sleep-2020-07-12 | nan | nan | It's a big roll of the dice with investing in the stocks of some companies focused on fighting COVID-19. If they're successful, you could make a ton of money. But if they're not, your loss could be catastrophic.
The good news is that the stakes aren't always so high. There are some stocks of companies developing COVID-19 diagnostic tests, drug candidates, and vaccine candidates that are relatively safe bets. If you've got $5,000 or so to invest, here are three coronavirus stocks you can buy in July without losing any sleep.
Image source: Getty Images.
1. Abbott Labs
Abbott Labs (NYSE: ABT) could be the poster child for blue chip stocks. The company made nearly $32 billion last year in sales. It's been in business since 1888. Fortune ranked Abbott as the No. 1 most admired company in the medical products and equipment industry seven years in a row. Abbott is also a Dividend Aristocrat, with an impressive streak of 48 consecutive years of annual dividend increases.
You don't have to give up solid growth prospects by buying shares of this stable healthcare giant, though. Wall Street analysts project that Abbott will deliver average annual earnings growth of more than 10% over the next five years.
Abbott's COVID-19 tests should play a key role in helping the company achieve analysts' growth expectations. The company currently markets COVID-19 diagnostic tests across five platforms. As of July 1, 2020, Abbott had shipped more than 20 million COVID-19 tests.
Even without its coronavirus-focused products, though, Abbott would be in a great position to deliver strong growth. The company recently won FDA clearance for FreeStyle Libre 2. The integrated continuous glucose monitoring (iCGM) system should be a huge commercial success. Abbott also markets other products with fast-rising sales, including its Alinity family of lab diagnostics systems and Mitraclip device for leaky heart valves.
2. AstraZeneca
AstraZeneca (NYSE: AZN) ranks among the biggest drugmakers in the world, generating over $24 billion in sales last year. The company was founded in 1999 with the merger of Swedish drugmaker Astra AB and British pharma Zeneca Group. Its roots date back to 1913 when Astra AB began operations.
Some investors could be drawn to AstraZeneca for its dividend, which currently yields around 2.6%. However, the big pharmaceutical company's growth prospects should even more appealing. The consensus analysts' estimate calls for AstraZeneca to achieve average annual earnings growth of more than 19% over the next five years.
That level of growth should be a piece of cake for AstraZeneca if the COVID-19 vaccine candidate that it's developing with the University of Oxford is successful. World Health Organization chief scientist Soumya Swaminathan views the experimental vaccine as the leading candidate among the 19 (and counting) COVID-19 vaccine candidates in clinical testing.
AstraZeneca claims several other growth drivers in addition to its COVID-19 vaccine candidate. Sales continue to skyrocket for cancer drugs Calquence, Imfinzi, Lynparza, and Tagrisso. The company's pipeline could also provide new winners, including potential asthma treatment tezepelumab and anemia drug roxadustat.
3. Eli Lilly
Eli Lilly (NYSE: LLY) runs neck-and-neck with AstraZeneca in terms of market cap. It made over $22 billion in sales in 2019. The big pharmaceutical company opened its doors way back in 1876.
Wall Street analysts like Lilly's growth potential. They expect the drugmaker to increase its earnings by an average of close to 13.5% annually over the next five years. Lilly's dividend, which yields 1.8%, should add to the stock's total returns.
It's quite possible that Lilly's prospects will be even better than analysts think. I think the company's coronavirus programs could be big winners. Lilly partnered with AbCellera and Junshi Biosciences to develop antibody therapy candidates targeting COVID-19. The drugmaker is also evaluating Olumiant as a potential treatment for the viral disease.
Meanwhile, sales for Olumiant are soaring as a treatment for rheumatoid arthritis. Lilly's cancer drugs Verzenio and Cyramza are gaining momentum. It's a similar story for diabetes drugs Jardiance and Trulicity. Add anti-inflammatory drug Taltz and migraine drug Emgality to Lilly's list of fast-rising stars as well. The company's pipeline is also loaded with strong late-stage candidates including immunology drug mirikizumab and pain drug tanezumab.
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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) could be the poster child for blue chip stocks. Abbott also markets other products with fast-rising sales, including its Alinity family of lab diagnostics systems and Mitraclip device for leaky heart valves. The company was founded in 1999 with the merger of Swedish drugmaker Astra AB and British pharma Zeneca Group. | Abbott Labs Abbott Labs (NYSE: ABT) could be the poster child for blue chip stocks. There are some stocks of companies developing COVID-19 diagnostic tests, drug candidates, and vaccine candidates that are relatively safe bets. Wall Street analysts project that Abbott will deliver average annual earnings growth of more than 10% over the next five years. | Abbott Labs Abbott Labs (NYSE: ABT) could be the poster child for blue chip stocks. There are some stocks of companies developing COVID-19 diagnostic tests, drug candidates, and vaccine candidates that are relatively safe bets. Abbott's COVID-19 tests should play a key role in helping the company achieve analysts' growth expectations. | Abbott Labs Abbott Labs (NYSE: ABT) could be the poster child for blue chip stocks. AstraZeneca AstraZeneca (NYSE: AZN) ranks among the biggest drugmakers in the world, generating over $24 billion in sales last year. It's quite possible that Lilly's prospects will be even better than analysts think. |
32562.0 | 2020-07-10 00:00:00 UTC | Are We in a Stock Market Bubble? These 3 Stocks Say Yes | ABT | https://www.nasdaq.com/articles/are-we-in-a-stock-market-bubble-these-3-stocks-say-yes-2020-07-10 | nan | nan | Is the stock market a huge bubble right now?
That question has been on a lot of investors' minds. The recovery in equities this spring took a lot of investors by surprise, but it may have been justified: Data suggested the economy could come back to life, the federal government had stepped in to provide unprecedented levels of support and boost investor confidence, and the numbers of new daily COVID-19 diagnoses were steadily declining.
Fast-forward to July and the U.S. economic recovery appears to be grinding to a halt as new COVID-19 infections spike to new highs across much of the country. However, the stock market has held on to its gains. The Nasdaq is now up more than 17% for the year and is setting new all-time highs. Even the S&P 500 is only down by about 2% year to date.
So is this a bubble waiting to pop? It's hard to know for sure, but several stocks have started to look seriously overinflated in recent weeks. Among the bubbliest are Nikola (NASDAQ: NKLA), Genius Brands (NASDAQ: GNUS), and XpresSpa (NASDAQ: XSPA).
Image source: Getty Images.
Nikola: A car company with no miles
You've heard of clinical-stage biotech companies. Now meet the clinical-stage automaker. Nikola, which took its name from the same inventor as Tesla, has yet to manufacture any cars, but the company has enjoyed riding in Tesla's wake. Just weeks ago, its market cap briefly topped that of Ford, which sells millions of vehicles annually.
Nikola aims to build electric and combination hydrogen fuel cell/electric trucks, but without a product, a track record, or results, the company is being judged on purely what's possible. While it could follow in Tesla's footsteps as the next auto industry disrupter, there are a lot of assumptions baked into that thesis, and not every ambitious EV maker has that kind of success. Witness Fisker and countless others that have failed to make it.
Additionally, Tesla has been making cars for over a decade now. It has built a cult-like following and has a number of other advantages, including its vast Supercharger network, its ability to perform over-the-air software updates, and better battery efficiency than its rivals. Until its vehicles are on the highway, bets on Nikola are purely speculative. Could the stock be a winner from here? Sure, but it's already priced for perfection, meaning shares are more likely to head south.
Genius Brands: A new name in children's entertainment
Genius Brands makes animated shows like Superhero Kindergarten, Llama, Llama, and Secret Millionaires Club for distribution on a wide variety of platforms, including Netflix. The stock soared earlier this year as it launched the Kartoon Channel and brought on Arnold Schwarzenegger as both an investor and a voice for Superhero Kindergarten. Bullish investors hopped on the stock as stay-at-home play and saw it as the next big thing in children's entertainment.
Its share price went from a low point around $0.25 in April to briefly over $11 in early June, though shares have since pulled back to below $3. Still, after a secondary stock offering, its market cap has remained high, hitting $800 million at the beginning of July, giving it price-to-sales ratio of more than 100.
The problem with that kind of valuation is that Wall Street doesn't think very highly of video content. Consider AMC Networks (NASDAQ: AMCX), which owns AMC, IFC, and Sundance, and has earned dozens of Emmy awards from shows like Mad Men, Breaking Bad, The Walking Dead, and Killing Eve --it's only valued at $1.1 billion. Even Mattel, which owns classic brands like Barbie, carries a market cap of just $3.5 billion. Children's brands like Funko, which popped last year before dropping, are prone to fads, and Genius Brands looks like the latest one. Unless the company is sitting on the mega-hit series that can support a mass-merchandisable ecosystem of toys and movies, the current valuation seems unjustifiable.
XpresSpa: A desperate pivot to COVID testing
You have to have some sympathy for XpresSpa. Few businesses were as vulnerable to the coronavirus pandemic as a chain of in-airport spas, so the company may be making the best of a bad situation by converting some of those spas into COVID-19 testing locations. It opened the first of those last month in New York's JFK Airport, but investors may be overestimating the potential in COVID-19 testing: The share price went from less than $0.50 in March to more than $6 (split-adjusted) in June briefly before pulling back to around $4.
XpresSpa was losing money before the pandemic, and coronavirus testing isn't as lucrative for testing sites as investors seem to think it is -- most of the money goes to the companies that make the diagnostic tests like Labcorp, Quest, and Abbott Labs.
If investors are convinced that testing sites are a brilliant business, there are better places to look than XpresSpa. By June 22, Rite Aid (NYSE: RAD) was operating 97 testing sites with the capacity to do 48,000 tests a week, and adding more. XpresSpa, by contrast, has just one testing facility running, and with 50 spa locations in 25 airports, it won't be able to match Rite Aid's reach.
Despite those differences and the fact that Rite Aid also has a stable business as a large drugstore chain, the valuations between the two aren't that far apart. As of July 9, XpresSpa had a market cap of $211 million, while Rite Aid's was slightly less than $1 billion. Even based on COVID-19 testing capacity alone, Rite Aid is the much better deal here.
When will the bubble burst?
It's impossible to say when this stock market bubble will pop, but the upcoming earnings season will reveal the ugliest quarterly results investors have seen since at least the financial crisis, and management will have a hard time sounding optimistic given the resurgence in coronavirus cases. Rising infections have put the brakes on the economic recovery and data will soon show how the recovery is plateauing. That means that the stock market could look a lot different by the end of July.
In a few weeks, some of the air could begin to escape from stocks like Nikola, Genius Brands, and XpresSpa.
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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 has built a cult-like following and has a number of other advantages, including its vast Supercharger network, its ability to perform over-the-air software updates, and better battery efficiency than its rivals. It opened the first of those last month in New York's JFK Airport, but investors may be overestimating the potential in COVID-19 testing: The share price went from less than $0.50 in March to more than $6 (split-adjusted) in June briefly before pulling back to around $4. It's impossible to say when this stock market bubble will pop, but the upcoming earnings season will reveal the ugliest quarterly results investors have seen since at least the financial crisis, and management will have a hard time sounding optimistic given the resurgence in coronavirus cases. | Genius Brands: A new name in children's entertainment Genius Brands makes animated shows like Superhero Kindergarten, Llama, Llama, and Secret Millionaires Club for distribution on a wide variety of platforms, including Netflix. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Jeremy Bowman owns shares of Netflix and Rite Aid. The Motley Fool recommends AMC Networks. | XpresSpa was losing money before the pandemic, and coronavirus testing isn't as lucrative for testing sites as investors seem to think it is -- most of the money goes to the companies that make the diagnostic tests like Labcorp, Quest, and Abbott Labs. In a few weeks, some of the air could begin to escape from stocks like Nikola, Genius Brands, and XpresSpa. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Jeremy Bowman owns shares of Netflix and Rite Aid. | As of July 9, XpresSpa had a market cap of $211 million, while Rite Aid's was slightly less than $1 billion. 10 stocks we like better than GENIUS BRANDS INTL. The Motley Fool owns shares of and recommends Netflix and Tesla. |
32563.0 | 2020-07-10 00:00:00 UTC | Ex-Dividend Reminder: Campbell Soup, DTE Energy and Abbott Laboratories | ABT | https://www.nasdaq.com/articles/ex-dividend-reminder%3A-campbell-soup-dte-energy-and-abbott-laboratories-2020-07-10 | nan | nan | Looking at the universe of stocks we cover at Dividend Channel, on 7/14/20, Campbell Soup Co (Symbol: CPB), DTE Energy Co (Symbol: DTP), and Abbott Laboratories (Symbol: ABT) will all trade ex-dividend for their respective upcoming dividends. Campbell Soup Co will pay its quarterly dividend of $0.35 on 8/3/20, DTE Energy Co will pay its quarterly dividend of $0.7812 on 8/1/20, and Abbott Laboratories will pay its quarterly dividend of $0.36 on 8/17/20. As a percentage of CPB's recent stock price of $49.84, this dividend works out to approximately 0.70%, so look for shares of Campbell Soup Co to trade 0.70% lower — all else being equal — when CPB shares open for trading on 7/14/20. Similarly, investors should look for DTP to open 1.84% lower in price and for ABT to open 0.39% lower, all else being equal.
Below are dividend history charts for CPB, DTP, and ABT, showing historical dividends prior to the most recent ones declared.
Campbell Soup Co (Symbol: CPB):
DTE Energy Co (Symbol: DTP):
Abbott Laboratories (Symbol: ABT):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 2.81% for Campbell Soup Co, 7.35% for DTE Energy Co, and 1.55% for Abbott Laboratories.
In Friday trading, Campbell Soup Co shares are currently up about 0.9%, DTE Energy Co shares are up about 0.1%, and Abbott Laboratories shares are off about 0.9% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at the universe of stocks we cover at Dividend Channel, on 7/14/20, Campbell Soup Co (Symbol: CPB), DTE Energy Co (Symbol: DTP), and Abbott Laboratories (Symbol: ABT) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for DTP to open 1.84% lower in price and for ABT to open 0.39% lower, all else being equal. Below are dividend history charts for CPB, DTP, and ABT, showing historical dividends prior to the most recent ones declared. | Looking at the universe of stocks we cover at Dividend Channel, on 7/14/20, Campbell Soup Co (Symbol: CPB), DTE Energy Co (Symbol: DTP), and Abbott Laboratories (Symbol: ABT) will all trade ex-dividend for their respective upcoming dividends. Campbell Soup Co (Symbol: CPB): DTE Energy Co (Symbol: DTP): Abbott Laboratories (Symbol: ABT): In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for DTP to open 1.84% lower in price and for ABT to open 0.39% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel, on 7/14/20, Campbell Soup Co (Symbol: CPB), DTE Energy Co (Symbol: DTP), and Abbott Laboratories (Symbol: ABT) will all trade ex-dividend for their respective upcoming dividends. Campbell Soup Co (Symbol: CPB): DTE Energy Co (Symbol: DTP): Abbott Laboratories (Symbol: ABT): In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for DTP to open 1.84% lower in price and for ABT to open 0.39% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel, on 7/14/20, Campbell Soup Co (Symbol: CPB), DTE Energy Co (Symbol: DTP), and Abbott Laboratories (Symbol: ABT) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for DTP to open 1.84% lower in price and for ABT to open 0.39% lower, all else being equal. Below are dividend history charts for CPB, DTP, and ABT, showing historical dividends prior to the most recent ones declared. |
32564.0 | 2020-07-08 00:00:00 UTC | Here’s How The Coronavirus Pandemic Became an Investing Opportunity For Me | ABT | https://www.nasdaq.com/articles/heres-how-the-coronavirus-pandemic-became-an-investing-opportunity-for-me-2020-07-08 | nan | nan | This March, the markets started to tank because of the COVID-19 pandemic. Like many others, I saw what was happening and rushed to review my investment accounts.
My action wasn't prompted by fear, though. As I logged into my accounts, I wasn't nervously biting my nails to see how much money I'd lost.
I was looking for investment opportunities.
Image source: Getty Images
In addition to being both a physical and mental healthcare crisis, COVID-19 quickly became an economic crisis as well. However, I was fortunate enough to be in a position where my income didn't drop. If anything, I had more disposable income because I was sheltering in place and was only spending money on essential supplies. My weekly social activities like drinks, dinner out, and in-theater movies were now non-existent. I could either spend the saved money on different discretionary items or do something that would greatly improve my financial future.
I knew this was a unique opportunity, so I decided to put the extra money to work in the stock market. I structured my investment plan like a pyramid, with the simplest and most predictable strategy on the bottom. Next came the strategies that were more risky but could potentially provide a lot of growth. Finally, I topped off the pyramid with my most speculative of investments.
Pyramid base: Index ETFs
The first action I took was to calculate all of the money that I was saving each month. I already had 6 months of money set aside in an emergency fund, but with unemployment numbers hitting all-time highs, I thought it would be prudent to grow my emergency fund. I took 25% of the money I was saving monthly and added it to my emergency fund.
With the remaining 75% of the money I was saving, I focused on exchange traded fund (ETF) investing. I started to purchase shares of SPDR S&P 500 ETF (NYSEMKT: SPY) monthly. I could've tried to time the bottom of this crash, sure. But by putting some money into the fund monthly, I'd avoid having money sitting on the sidelines doing nothing.
The middle of the pyramid: Sector funds
The next approach I took was more specific to this pandemic. I wanted to invest in industries I thought would perform well during this current economic environment.
But first, I needed to make money available. I accomplished this using a rebalancing approach, taking some profits from my current investments that had done well over the last year, and investing into 3 different sector ETFs that appealed to me.
First of all, I invested in a consumer staples ETF, the IShares Dow Jones US Consumer Goods ETF (NYSEMKT: IYK). On the whole, many people's purchases were reduced to just essentials -- so while other retail industries would struggle, supplies that people needed on a daily basis would not.
I also invested in a healthcare ETF, the IShares Dow Jones US Healthcare ETF (NYSEMKT: IYH). As different companies raced to find treatments and vaccines for this virus that had completely taken over everyone's lives, the healthcare sector seemed like a good pick.
Finally, I selected a technology ETF, the IShares Dow Jones US Technology ETF (NYSEMKT: IYW) because everyone in the country (if not the world!) now found themselves at home. It was clear to me that people would need technology to power them through the school day, workday, and for entertainment.
I took a portion of my investment profits and equally divided them between these sectors.
The top of the pyramid
Finally, it was time for me to make my most targeted investments into individual stocks to hold for the long term. These investments were the most speculative. Although individual stocks have the greatest potential for growth, they're also the riskiest part of my pyramid.
Within the 3 sectors I identified for my ETF investing, I also found some companies performing well during the pandemic that were worth a direct investment. I invested the remainder of my rebalancing profits into these companies.
Before actually buying any stocks, though, I took some time to learn about each company's general lines of business and financial health. Was its stock fairly priced? Did the company have any debt? I also wanted to make sure that these companies had potential to succeed outside of any COVID-19 business opportunities. This would make it easier to hold these companies for the long term.
After some careful research, I chose to put the majority of the money I allocated for individual stocks into healthcare stocks. Of course, Gilead Sciences (NASDAQ: GILD) appealed to me because of its drug remdesivir, which has been the first treatment to show promise with fighting the novel coronavirus. In addition to remdesivir, Gilead has a great dividend and steady revenue from its HIV and hepatitis C treatments.
I also was drawn to Abbott Labs (NYSE: ABT) which was the first to produce a fast-results COVID-19 test. Before the COVID-19 pandemic became the primary focus of the healthcare industry, Abbott was a strong company with solid growth in both its pharmaceuticals and medical devices divisions.
While some investors interpret falling markets as a sign of doom and gloom, I see it as a chance to buy valuable companies at a discount. The COVID-19 pandemic has brought about many opportunities, but as we learn about the virus, those opportunities frequently will change.
This constant change means it's never too late to find promising investments. If you're someone who feels as if you've missed your chance, you have not! As long as there are new developments, it's a good time for anyone in a financial position to do so to start investing. And as long as my economic situation remains stable, I will continue to look for great investments.
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Diane Mtetwa owns shares of Abbott Laboratories, Gilead Sciences, iShares Dow Jones US Consumer Goods, iShares Dow Jones US Healthcare, iShares Dow Jones US Technology, and SPDR S&P 500. 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. | I also was drawn to Abbott Labs (NYSE: ABT) which was the first to produce a fast-results COVID-19 test. As different companies raced to find treatments and vaccines for this virus that had completely taken over everyone's lives, the healthcare sector seemed like a good pick. Of course, Gilead Sciences (NASDAQ: GILD) appealed to me because of its drug remdesivir, which has been the first treatment to show promise with fighting the novel coronavirus. | I also was drawn to Abbott Labs (NYSE: ABT) which was the first to produce a fast-results COVID-19 test. First of all, I invested in a consumer staples ETF, the IShares Dow Jones US Consumer Goods ETF (NYSEMKT: IYK). I also invested in a healthcare ETF, the IShares Dow Jones US Healthcare ETF (NYSEMKT: IYH). | I also was drawn to Abbott Labs (NYSE: ABT) which was the first to produce a fast-results COVID-19 test. I also invested in a healthcare ETF, the IShares Dow Jones US Healthcare ETF (NYSEMKT: IYH). Within the 3 sectors I identified for my ETF investing, I also found some companies performing well during the pandemic that were worth a direct investment. | I also was drawn to Abbott Labs (NYSE: ABT) which was the first to produce a fast-results COVID-19 test. With the remaining 75% of the money I was saving, I focused on exchange traded fund (ETF) investing. Within the 3 sectors I identified for my ETF investing, I also found some companies performing well during the pandemic that were worth a direct investment. |
32565.0 | 2020-07-08 00:00:00 UTC | UK tech firm Smiths to aid COVID-19 antibody test production | ABT | https://www.nasdaq.com/articles/uk-tech-firm-smiths-to-aid-covid-19-antibody-test-production-2020-07-08 | nan | nan | Adds antibody test details, company background
July 8 (Reuters) - Technology firm Smiths Group SMIN.L said on Wednesday it would help produce a blood-based COVID-19 antibody test approved by the British healthcare regulator, another move by the company to develop products to combat the pandemic.
The UK-based company, which makes a range of technology from baggage screeners to explosive detectors, had in March delayed a long-sought separation of its medical unit to focus on making and delivering ventilators to Britain as part of a consortium.
London-listed Smiths said it had agreed with biopharmaceutical firm Attomarker, for an undisclosed amount, to make its portable, triple antibody test device at unit Smiths Detection's site in Hemel Hempstead, England.
Attomarker, spun off from the University of Exeter, focuses on making blood-testing devices that detect biomarkers.
Its test for the new coronavirus will look for three virus proteins and three types of antibodies, which are the body's natural defence to fight infections.
Smiths said the COVID-19 device, approved by Britain's Medicines and Healthcare Products Regulatory Agency for use by the National Health Service, can deliver results in about seven minutes, with a sensitivity of up to 96%.
The company said it had been in talks with Attomarker since April to develop, design and test performance, adding that it had the ability to scale production as per demand.
Other firms making antibody tests for the respiratory illness include Roche ROG.S and Abbott ABT.N.
Many studies of COVID-19 antibody test accuracy fall short: reviewhttps://reut.rs/3iHlfEp
(Reporting by Pushkala Aripaka in Bengaluru; Editing by Bernard Orr and Maju Samuel)
((Pushkala.A@thomsonreuters.com; Twitter: @pullthekart; within UK: +44 20 7542 1810, outside UK: +91 80 6182 2600; Mobile: +91 852 751 3793 ;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Other firms making antibody tests for the respiratory illness include Roche ROG.S and Abbott ABT.N. Smiths said the COVID-19 device, approved by Britain's Medicines and Healthcare Products Regulatory Agency for use by the National Health Service, can deliver results in about seven minutes, with a sensitivity of up to 96%. The company said it had been in talks with Attomarker since April to develop, design and test performance, adding that it had the ability to scale production as per demand. | Other firms making antibody tests for the respiratory illness include Roche ROG.S and Abbott ABT.N. Adds antibody test details, company background July 8 (Reuters) - Technology firm Smiths Group SMIN.L said on Wednesday it would help produce a blood-based COVID-19 antibody test approved by the British healthcare regulator, another move by the company to develop products to combat the pandemic. London-listed Smiths said it had agreed with biopharmaceutical firm Attomarker, for an undisclosed amount, to make its portable, triple antibody test device at unit Smiths Detection's site in Hemel Hempstead, England. | Other firms making antibody tests for the respiratory illness include Roche ROG.S and Abbott ABT.N. Adds antibody test details, company background July 8 (Reuters) - Technology firm Smiths Group SMIN.L said on Wednesday it would help produce a blood-based COVID-19 antibody test approved by the British healthcare regulator, another move by the company to develop products to combat the pandemic. London-listed Smiths said it had agreed with biopharmaceutical firm Attomarker, for an undisclosed amount, to make its portable, triple antibody test device at unit Smiths Detection's site in Hemel Hempstead, England. | Other firms making antibody tests for the respiratory illness include Roche ROG.S and Abbott ABT.N. Adds antibody test details, company background July 8 (Reuters) - Technology firm Smiths Group SMIN.L said on Wednesday it would help produce a blood-based COVID-19 antibody test approved by the British healthcare regulator, another move by the company to develop products to combat the pandemic. The UK-based company, which makes a range of technology from baggage screeners to explosive detectors, had in March delayed a long-sought separation of its medical unit to focus on making and delivering ventilators to Britain as part of a consortium. |
32566.0 | 2020-07-07 00:00:00 UTC | 3 Best-Performing Dividend Aristocrats in the First Half of 2020: Are They Buys Now? | ABT | https://www.nasdaq.com/articles/3-best-performing-dividend-aristocrats-in-the-first-half-of-2020%3A-are-they-buys-now-2020 | nan | nan | Claiming impressive track records of 25 or more consecutive years of dividend increases wasn't enough to translate to solid performances during the first half of 2020. Even with the overall market rebound in the second quarter, more than twice as many Dividend Aristocrats were in negative territory year to date after the first six months of 2020 than were up for the year.
But there were still some big winners among the group. Several even chalked up double-digit gains. Here are the three best-performing Dividend Aristocrats during the first half of the year.
Image source: Getty Images.
1. S&P Global
S&P Global (NYSE: SPGI) is one of only 24 S&P 500 index members to have increased its dividend for 47 consecutive years. And it was the top-performing Dividend Aristocrat in the first half of 2020, with a gain of nearly 21%.
Most financial stocks performed poorly as the COVID-19 pandemic negatively impacted the economy. S&P Global, however, was an exception to the rule. The company focuses on selling data and analytics to clients. Although its business model didn't totally insulate S&P Global from the overall beatdown in the financial services sector, its shares rebounded rapidly.
It's too soon to completely rule out headwinds for S&P Global resulting from the COVID-19 outbreak. A prolonged recession could hurt some of the company's clients and affect its new sales and subscription renewals. For now, though, S&P Global's business appears to be going full-steam ahead -- as is its dividend.
2. Lowe's
Lowe's (NYSE: LOW) ranks in the upper echelon of Dividend Aristocrats with a remarkable 57 consecutive years of dividend hikes. The home improvement retailer's stock performance was also among the best among the group during the first six months of the year, with Lowes' shares jumping nearly 13%.
The COVID-19 pandemic actually helped Lowe's. The company was declared an essential business and was able to keep its stores open across the country. Consumers who were stuck at home under shelter-in-place orders opted to embark on home-improvement projects. Lowe's reported 12% higher comparable-store sales in its fiscal first quarter, which ended on May 1, 2020, with rising profits.
CEO Marvin Ellison said in Lowe's quarterly update that the great performance continued beyond the end of the first quarter. However, the company has still suspended share repurchases because of the pandemic and doesn't expect to buy back any additional shares in 2020.
3. AbbVie
AbbVie (NYSE: ABBV) trailed Lowe's in terms of stock performance during the first half of the year with a gain of 11%. But the big pharma stock narrowly beat the home-improvement giant in total returns thanks to its strong dividend yield. Including its time as part of parent Abbott Labs (NYSE: ABT), AbbVie has increased its dividend for 47 years.
The solid first-half jump stemmed in part from AbbVie easily beating Wall Street's Q1 revenue and earnings estimates. AbbVie's top-selling drug Humira performed well. Several other drugs also picked up momentum, including new immunology drugs Rinvoq and Skyrizi and blood cancer drug Venclexta.
There were also other wins for AbbVie in the first half of 2020. Its acquisition of Allergan closed. The drugmaker scored a key patent litigation victory for Humira. It also inked a significant licensing and collaboration deal with GenMab.
Are they buys now?
I think that two of these three Dividend Aristocrats are still pretty good picks after their nice gains. The exception is S&P Global. I'm somewhat leery of S&P Global's valuation with shares trading at 33 times expected earnings. Lowe's and AbbVie, on the other hand, seem like solid picks. I like the long-term trends for home improvement. My view is that AbbVie will effectively navigate the loss of U.S. patent exclusivity for Humira.
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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. | Including its time as part of parent Abbott Labs (NYSE: ABT), AbbVie has increased its dividend for 47 years. Claiming impressive track records of 25 or more consecutive years of dividend increases wasn't enough to translate to solid performances during the first half of 2020. Although its business model didn't totally insulate S&P Global from the overall beatdown in the financial services sector, its shares rebounded rapidly. | Including its time as part of parent Abbott Labs (NYSE: ABT), AbbVie has increased its dividend for 47 years. Lowe's Lowe's (NYSE: LOW) ranks in the upper echelon of Dividend Aristocrats with a remarkable 57 consecutive years of dividend hikes. AbbVie AbbVie (NYSE: ABBV) trailed Lowe's in terms of stock performance during the first half of the year with a gain of 11%. | Including its time as part of parent Abbott Labs (NYSE: ABT), AbbVie has increased its dividend for 47 years. Lowe's Lowe's (NYSE: LOW) ranks in the upper echelon of Dividend Aristocrats with a remarkable 57 consecutive years of dividend hikes. The home improvement retailer's stock performance was also among the best among the group during the first six months of the year, with Lowes' shares jumping nearly 13%. | Including its time as part of parent Abbott Labs (NYSE: ABT), AbbVie has increased its dividend for 47 years. S&P Global S&P Global (NYSE: SPGI) is one of only 24 S&P 500 index members to have increased its dividend for 47 consecutive years. However, the company has still suspended share repurchases because of the pandemic and doesn't expect to buy back any additional shares in 2020. |
32567.0 | 2020-07-06 00:00:00 UTC | Implied RNLC Analyst Target Price: $25 | ABT | https://www.nasdaq.com/articles/implied-rnlc-analyst-target-price%3A-%2425-2020-07-06 | nan | nan | Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the Large Cap US Equity Select ETF (Symbol: RNLC), we found that the implied analyst target price for the ETF based upon its underlying holdings is $25.02 per unit.
With RNLC trading at a recent price near $22.77 per unit, that means that analysts see 9.90% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of RNLC's underlying holdings with notable upside to their analyst target prices are AES Corp. (Symbol: AES), Abbott Laboratories (Symbol: ABT), and KKR & Co Inc (Symbol: KKR). Although AES has traded at a recent price of $14.48/share, the average analyst target is 16.82% higher at $16.92/share. Similarly, ABT has 11.77% upside from the recent share price of $92.23 if the average analyst target price of $103.08/share is reached, and analysts on average are expecting KKR to reach a target price of $34.30/share, which is 9.94% above the recent price of $31.20. Below is a twelve month price history chart comparing the stock performance of AES, ABT, and KKR:
Below is a summary table of the current analyst target prices discussed above:
NAME SYMBOL RECENT PRICE AVG. ANALYST 12-MO. TARGET % UPSIDE TO TARGET
Large Cap US Equity Select ETF RNLC $22.77 $25.02 9.90%
AES Corp. AES $14.48 $16.92 16.82%
Abbott Laboratories ABT $92.23 $103.08 11.77%
KKR & Co Inc KKR $31.20 $34.30 9.94%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
10 ETFs With Most Upside To Analyst Targets »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Large Cap US Equity Select ETF RNLC $22.77 $25.02 9.90% AES Corp. AES $14.48 $16.92 16.82% Abbott Laboratories ABT $92.23 $103.08 11.77% KKR & Co Inc KKR $31.20 $34.30 9.94% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of RNLC's underlying holdings with notable upside to their analyst target prices are AES Corp. (Symbol: AES), Abbott Laboratories (Symbol: ABT), and KKR & Co Inc (Symbol: KKR). Similarly, ABT has 11.77% upside from the recent share price of $92.23 if the average analyst target price of $103.08/share is reached, and analysts on average are expecting KKR to reach a target price of $34.30/share, which is 9.94% above the recent price of $31.20. | Three of RNLC's underlying holdings with notable upside to their analyst target prices are AES Corp. (Symbol: AES), Abbott Laboratories (Symbol: ABT), and KKR & Co Inc (Symbol: KKR). Similarly, ABT has 11.77% upside from the recent share price of $92.23 if the average analyst target price of $103.08/share is reached, and analysts on average are expecting KKR to reach a target price of $34.30/share, which is 9.94% above the recent price of $31.20. Large Cap US Equity Select ETF RNLC $22.77 $25.02 9.90% AES Corp. AES $14.48 $16.92 16.82% Abbott Laboratories ABT $92.23 $103.08 11.77% KKR & Co Inc KKR $31.20 $34.30 9.94% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? | Similarly, ABT has 11.77% upside from the recent share price of $92.23 if the average analyst target price of $103.08/share is reached, and analysts on average are expecting KKR to reach a target price of $34.30/share, which is 9.94% above the recent price of $31.20. Three of RNLC's underlying holdings with notable upside to their analyst target prices are AES Corp. (Symbol: AES), Abbott Laboratories (Symbol: ABT), and KKR & Co Inc (Symbol: KKR). Below is a twelve month price history chart comparing the stock performance of AES, ABT, and KKR: Below is a summary table of the current analyst target prices discussed above: | Three of RNLC's underlying holdings with notable upside to their analyst target prices are AES Corp. (Symbol: AES), Abbott Laboratories (Symbol: ABT), and KKR & Co Inc (Symbol: KKR). Similarly, ABT has 11.77% upside from the recent share price of $92.23 if the average analyst target price of $103.08/share is reached, and analysts on average are expecting KKR to reach a target price of $34.30/share, which is 9.94% above the recent price of $31.20. Below is a twelve month price history chart comparing the stock performance of AES, ABT, and KKR: Below is a summary table of the current analyst target prices discussed above: |
32568.0 | 2020-07-06 00:00:00 UTC | FDA Approves Abbott's NexGen Gallant ICD, CRT-D Devices - Quick Facts | ABT | https://www.nasdaq.com/articles/fda-approves-abbotts-nexgen-gallant-icd-crt-d-devices-quick-facts-2020-07-06 | nan | nan | (RTTNews) - Abbott (ABT) announced that the U.S. FDA has approved the company's next-generation Gallant implantable cardioverter defibrillator or ICD and cardiac resynchronization therapy defibrillator or CRT-D devices.
The company noted that the devices bring new benefits to patients with heart rhythm disorders, including a patient-preferred design without compromising battery longevity and MRI compatibility.
In addition, the new devices offer Bluetooth technology and a new patient smartphone app for improved remote monitoring, allowing for increased patient/physician engagement and streamlined communications.
The Gallant system received CE Mark for use across Europe earlier this year.
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 that the U.S. FDA has approved the company's next-generation Gallant implantable cardioverter defibrillator or ICD and cardiac resynchronization therapy defibrillator or CRT-D devices. The company noted that the devices bring new benefits to patients with heart rhythm disorders, including a patient-preferred design without compromising battery longevity and MRI compatibility. In addition, the new devices offer Bluetooth technology and a new patient smartphone app for improved remote monitoring, allowing for increased patient/physician engagement and streamlined communications. | (RTTNews) - Abbott (ABT) announced that the U.S. FDA has approved the company's next-generation Gallant implantable cardioverter defibrillator or ICD and cardiac resynchronization therapy defibrillator or CRT-D devices. The company noted that the devices bring new benefits to patients with heart rhythm disorders, including a patient-preferred design without compromising battery longevity and MRI compatibility. 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 that the U.S. FDA has approved the company's next-generation Gallant implantable cardioverter defibrillator or ICD and cardiac resynchronization therapy defibrillator or CRT-D devices. The company noted that the devices bring new benefits to patients with heart rhythm disorders, including a patient-preferred design without compromising battery longevity and MRI compatibility. 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 that the U.S. FDA has approved the company's next-generation Gallant implantable cardioverter defibrillator or ICD and cardiac resynchronization therapy defibrillator or CRT-D devices. The company noted that the devices bring new benefits to patients with heart rhythm disorders, including a patient-preferred design without compromising battery longevity and MRI compatibility. In addition, the new devices offer Bluetooth technology and a new patient smartphone app for improved remote monitoring, allowing for increased patient/physician engagement and streamlined communications. |
32569.0 | 2020-07-05 00:00:00 UTC | Got $5,000? Buy These 3 High-Yield Dividend Stocks That Are Money Machines | ABT | https://www.nasdaq.com/articles/got-%245000-buy-these-3-high-yield-dividend-stocks-that-are-money-machines-2020-07-05 | nan | nan | Wouldn't it be nice to invest in stocks and then simply sit back while the money flows in? You can do just that with dividend stocks.
Sure, some companies pay only puny dividends. Others are on such shaky ground that their dividends are in jeopardy. But there are stocks on the market that pay dividends that are both juicy and solid. If you've got $5,000 to invest, here are three high-yield dividend stocks that are flat-out money machines.
Image source: Getty Images.
1. AbbVie
Richard Nixon was beginning his second term when AbbVie's (NYSE: ABBV) streak of annual dividend hikes began. Very few companies can boast that they've increased their dividend for 47 years in a row. But AbbVie can. And since being spun off from Abbott Labs in 2013, AbbVie has raised its dividend by a whopping 195%. Today, AbbVie's dividend yields 4.8%.
The big drugmaker should be in great shape to keep those dividends coming. AbbVie recently picked up a big legal victory that should allow it hold onto its U.S. market share for top-selling drug Humira for a few more years. That should give the company's other products and pipeline candidates time to gain significant momentum.
Look for the most impressive sales growth to come from new immunology drugs Rinvoq and Skyrizi. Both drugs ranked among market researcher EvaluatePharma's top five new drug launches of 2019. AbbVie's blood cancer drugs Imbruvica and Venclexta will also be key drivers for the company's growth.
The company's acquisition of Allergan should also help ensure the continued stability of AbbVie's dividend. AbbVie picked up several great products with the deal, notably including the blockbuster Botox franchise and antipsychotic drug Vraylar.
2. Brookfield Infrastructure Partners
Brookfield Infrastructure Partners (NYSE: BIP) hasn't been around long enough to rival AbbVie when it comes to consecutive years of dividend increases. The company was founded in 2007. Since then, though, Brookfield's dividend has soared more than 720%. The dividend yield now stands at 4.7%.
As its name indicates, Brookfield Infrastructure Partners focuses on infrastructure assets. The company's assets include cell towers, data centers, electricity transmission lines, natural gas pipelines and storage facilities, railroads, ports, toll roads.
The main thing you'll want to know about Brookfield Infrastructure is that its dividends are arguably as stable as they come. Roughly 95% of the company's cash flows are regulated or contracted, largely insulating Brookfield from macroeconomic turbulence. Its infrastructure assets are also remarkably diversified across sectors and geographical regions.
But Brookfield Infrastructure isn't a boring no-growth kind of dividend stock. The company continually evaluates its assets, selling off the lower-performing ones to invest in infrastructure operations with higher growth potential. This strategy should enable Brookfield to deliver solid growth in addition to its attractive dividend payouts.
3. Innovative Industrial Partners
The newest company on our list didn't begin operations until 2016. However, Innovative Industrial Partners (NYSE: IIPR) has made income-seeking investors happy campers by boosting its dividend by more than 600% in only three years (it paid the first dividend in 2017). IIP's dividend currently yields 4.6%.
IIP achieved its success by addressing an unmet need. U.S. medical cannabis operators have limited availability to capital funding. IIP buys their facilities then leases the properties back to them. This gives the medical cannabis operators much-needed cash to fund operations and expand. And it gives IIP a steady source of revenue.
The company is organized as a real estate investment trust (REIT). This means that it must distribute at least 90% of its pre-tax income to shareholders as dividends. IIP's income has grown tremendously as it has added new properties, soaring nearly 250% year over year in its most recent quarter.
IIP now owns 58 medical cannabis properties in 15 states. That's an increase of 12 properties since the beginning of 2020. At this rate of expansion, the company could easily double its earnings -- and its dividend -- within the next couple of years.
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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 recently picked up a big legal victory that should allow it hold onto its U.S. market share for top-selling drug Humira for a few more years. AbbVie picked up several great products with the deal, notably including the blockbuster Botox franchise and antipsychotic drug Vraylar. The company's assets include cell towers, data centers, electricity transmission lines, natural gas pipelines and storage facilities, railroads, ports, toll roads. | Brookfield Infrastructure Partners Brookfield Infrastructure Partners (NYSE: BIP) hasn't been around long enough to rival AbbVie when it comes to consecutive years of dividend increases. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Keith Speights owns shares of AbbVie, Brookfield Infrastructure Partners, and Innovative Industrial Properties. The Motley Fool owns shares of and recommends Innovative Industrial Properties. | Brookfield Infrastructure Partners Brookfield Infrastructure Partners (NYSE: BIP) hasn't been around long enough to rival AbbVie when it comes to consecutive years of dividend increases. However, Innovative Industrial Partners (NYSE: IIPR) has made income-seeking investors happy campers by boosting its dividend by more than 600% in only three years (it paid the first dividend in 2017). See the 10 stocks *Stock Advisor returns as of June 2, 2020 Keith Speights owns shares of AbbVie, Brookfield Infrastructure Partners, and Innovative Industrial Properties. | You can do just that with dividend stocks. But AbbVie can. IIP's income has grown tremendously as it has added new properties, soaring nearly 250% year over year in its most recent quarter. |
32570.0 | 2020-07-04 00:00:00 UTC | Should Quidel Be Your Next Coronavirus Buy? | ABT | https://www.nasdaq.com/articles/should-quidel-be-your-next-coronavirus-buy-2020-07-04 | nan | nan | If there's one silver lining to the global coronavirus pandemic it's increased appreciation for quick and easy infectious disease testing. Quidel (NASDAQ: QDEL) was already a leader in the market for point-of-care diagnostic equipment before launching COVID-19 tests.
It's hard to know how long to expect explosive demand for coronavirus testing, but it's just a matter of time before Quidel's explosive new revenue stream settles down. Does Quidel have what it takes to deliver market-beating gains into the long run?
Image source: Getty Images.
Reasons to buy Quidel
The company's point-of-care diagnostic systems look like point-of-sale (POS) devices that accept patient samples instead of credit cards.
Sales of Quidel's tests have been on the rise partly because every time the company releases a new one, its existing customers can add it to their list of on-site services without installing any new gear. For example, the company's Sofia SARS Antigen FIA test runs on the same devices already used in physician offices to diagnose strep throat, influenza, and Lyme disease.
In June, the company received government funding to support the development of a test-combo kit that can tell doctors if patients have the respiratory syncytial virus, influenza A, influenza B, or COVID-19. The four-virus test will run on the same Sofia machines, making them more valuable to Quidel's clients.
Diagnostics is an excruciatingly competitive business, but Quidel's reported an outstanding double-digit percentage operating profit margin since 2018. Since launching the popular Sofia 2 point-of-care system in 2017, trailing free cash flow has risen 831% to $135 million.
Strong cash flows at the moment, plus a bolus of COVID-19 revenue, will give Quidel plenty of opportunities to acquire and develop new test offerings that make its point-of-care diagnostic systems even stickier in the years ahead.
In May, Quidel reported first-quarter revenue that grew 18% year over year to an annualized $699 million. Quidel thinks its non-coronavirus projects represent a market opportunity worth around $1.7 billion annually, which gives the company room to continue putting up big gains.
Image source: Getty Images.
Reasons to remain cautious
Small, relatively inexpensive analyzers that allow physician offices, urgent care centers, and hospitals to rapidly diagnose infectious diseases and measure health signals on-site are increasingly popular. Unfortunately, they're inexpensive enough that hospitals and many physician offices can afford a Sofia 2 and at least one competing machine.
One of Quidel's largest competitors for point-of-care testing, Abbott (NYSE: ABT) will be a fierce competitor in the years ahead. The successful healthcare conglomerate boasts diverse operations that generated $4.5 billion in free cash flow over the past year.
Quidel's fluorescent immunoassays are generally faster than desktop molecular diagnostics, but Abbott's ID Now system can deliver results in a matter of minutes. With an increasing array of options for low-cost, rapid testing, Quidel's juicy profit margins could face more pressure than the company can handle in the years ahead.
A buy now?
The coronavirus pandemic will be with us into 2021 at the very least, but hopefully not for much longer. This means any coronavirus stock you add to your portfolio now needs revenue streams that won't dry up along with demand COVID-19 testing.
Quidel's successful line of point-of-care diagnostic equipment was already generating a strong and steadily growing profit before the pandemic reared its ugly head, and it will probably continue doing so for many years to come. If you're looking for a good coronavirus stock to buy, this is it.
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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. | One of Quidel's largest competitors for point-of-care testing, Abbott (NYSE: ABT) will be a fierce competitor in the years ahead. Strong cash flows at the moment, plus a bolus of COVID-19 revenue, will give Quidel plenty of opportunities to acquire and develop new test offerings that make its point-of-care diagnostic systems even stickier in the years ahead. Quidel thinks its non-coronavirus projects represent a market opportunity worth around $1.7 billion annually, which gives the company room to continue putting up big gains. | One of Quidel's largest competitors for point-of-care testing, Abbott (NYSE: ABT) will be a fierce competitor in the years ahead. Reasons to buy Quidel The company's point-of-care diagnostic systems look like point-of-sale (POS) devices that accept patient samples instead of credit cards. Since launching the popular Sofia 2 point-of-care system in 2017, trailing free cash flow has risen 831% to $135 million. | One of Quidel's largest competitors for point-of-care testing, Abbott (NYSE: ABT) will be a fierce competitor in the years ahead. Reasons to buy Quidel The company's point-of-care diagnostic systems look like point-of-sale (POS) devices that accept patient samples instead of credit cards. Strong cash flows at the moment, plus a bolus of COVID-19 revenue, will give Quidel plenty of opportunities to acquire and develop new test offerings that make its point-of-care diagnostic systems even stickier in the years ahead. | One of Quidel's largest competitors for point-of-care testing, Abbott (NYSE: ABT) will be a fierce competitor in the years ahead. Does Quidel have what it takes to deliver market-beating gains into the long run? Strong cash flows at the moment, plus a bolus of COVID-19 revenue, will give Quidel plenty of opportunities to acquire and develop new test offerings that make its point-of-care diagnostic systems even stickier in the years ahead. |
32571.0 | 2020-07-03 00:00:00 UTC | Better Coronavirus Stock: Eli Lilly or AbbVie? | ABT | https://www.nasdaq.com/articles/better-coronavirus-stock%3A-eli-lilly-or-abbvie-2020-07-03 | nan | nan | Over the past several months, the coronavirus stock market has proven nerve-wracking for even the most seasoned of investors. We are living in unprecedented times. But the basic rules of investing haven't changed, and there are still worthwhile investment opportunities to be found.
Eli Lilly (NYSE: LLY) is a veteran in the pharmaceutical community and has been in business for over 140 years. AbbVie (NYSE: ABBV) is a relative newcomer and was established back in 2013 after spinning off parent organization Abbott Laboratories. Both companies have been resilient overall amid the tumult of the current recession. I would also add that each carries the possibility of strong returns for dividend investors with a long-term buying focus. But which is the better buy?
Image Source: Getty Images.
The case for Eli Lilly
Last year was a good one for Eli Lilly. The company experienced a 4% boost in revenue in 2019, amassing total earnings of $22.3 billion. Eli Lilly entered 2020 from a position of strength, fueled largely by booming sales of some of its anti-diabetic and immunologic drugs.
The company's blockbuster type 2 diabetes medication Trulicity accumulated over $4 billion in sales in 2019. Taltz, a biologic injection medication for individuals suffering from mild to severe plaque psoriasis, accounted for more than $1 billion of Eli Lilly's revenue last year. Another key 2019 revenue driver was the company's chemotherapy medicine Cyramza. Global sales of the drug surpassed $925 million.
In the first quarter of this year, the company's earnings were up by 15% compared to the prior-year period. Along with increased consumer and prescription demand due to the coronavirus, the company attributed much of its year-over-year growth to blockbuster drugs like Trulicity, Taltz, and Cyramza.
Migraine medicine Emgality and diabetes drug Baqsimi were two other dependable revenue sources for Eli Lilly in Q1 2020. Emgality produced $74 million in global sales for Eli Lilly in the fist quarter, almost $8 million more than worldwide sales of the drug in the previous quarter. Eli Lilly closed its acquisition of biopharmaceutical company Dermira in Q1, which brought new immunologic and dermatology drugs into its ever-expanding portfolio.
Eli Lilly has also made headlines for its continued efforts in the COVID-19 treatment space. The company is running phase 1 human trials of separate potential antibody treatments with its biotech partners Junshi Biosciences and AbCellera. On June 15, Eli Lilly announced that it had commenced a phase 3 clinical trial of its rheumatoid arthritis drug Baricitinib on hospitalized coronavirus patients. The company intends to conduct the study on 400 patients, with results to follow in a matter of months.
The case for AbbVie
AbbVie is one of those blue chip stocks that keeps investors coming back for more. Its ongoing strong performance is due in large part to its blockbuster arthritis drug Humira. In 2019, sales of Humira reached nearly $15 billion in the United States alone. Outside of the U.S., Humira sales were north of $4 billion in 2019. AbbVie's full-year 2019 revenue across all drug segments totaled approximately $33 billion, so Humira was responsible for roughly 60% of AbbVie's total net revenue last year.
Two other key takeaways from AbbVie's 2019 earnings report regarded its recent launches of rheumatoid arthritis drug Rinvoq and plaque psoriasis medicine Skyrizi. Worldwide Rinvoq revenue totaled $47 million in 2019, while total net sales of Skyrizi were $355 million. The company projects that Rinvoq and Skyrizi revenue together could be close to $2 billion this year.
AbbVie's Q1 2020 revenue was up about 10% from Q1 2019 at $8.6 billion. Domestic Humira revenue was up nearly 14% at $3.7 billion, while sales of the drug outside the U.S. were down nearly 15% at about $1 billion. Worldwide sales of Skyrizi and Rinvoq were $300 million and $86 million, respectively. The company updated its expected guidance for GAAP earnings-per-share for 2020 to hit somewhere between $7.60 and $7.70, as opposed to its previous projections of $7.66 to $7.76.
The company's acquisition of Allergan, which concluded in May, and a new oncology collaboration with Danish biotech Genmab (NASDAQ: GMAB) announced in June are two key victories in AbbVie's ongoing diversification strategy. AbbVie anticipates that the combination of Allergan's product portfolio with its existing product lineup could propel 2020 revenue to reach $50 billion. AbbVie and Genmab will work together on three prospective antibody products, as well as potential antibody cancer therapies. AbbVie paid $750 million to Genmab right out of the gate, with additional installments of up to $3.15 billion to follow.
AbbVie is also contributing to the battle against COVID-19. The company donated doses of its HIV drug Aluvia to the Chinese government as a prospective coronavirus treatment and is engaging in various research initiatives with organizations such as the CDC and FDA to analyze the drug's success in fighting the disease.
To buy or not to buy
In my opinion, both stocks have strong growth potential. Investors seeking higher dividend earnings may find AbbVie's nearly-5% payout much more attractive than Eli Lilly's modest 1.8% yield. The most obvious concern with AbbVie is its continued reliance on Humira to fuel future growth, although its collaboration with Genmab and the acquisition of Allergan are definitely good news that the company is seeking to diversify.
On the other hand, Eli Lilly has a long and dependable history with a versatile portfolio of successful products to its name. While its dividend payout may be lower, risk-averse investors may find that this stock is the better buy.
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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. | Taltz, a biologic injection medication for individuals suffering from mild to severe plaque psoriasis, accounted for more than $1 billion of Eli Lilly's revenue last year. The company's acquisition of Allergan, which concluded in May, and a new oncology collaboration with Danish biotech Genmab (NASDAQ: GMAB) announced in June are two key victories in AbbVie's ongoing diversification strategy. The most obvious concern with AbbVie is its continued reliance on Humira to fuel future growth, although its collaboration with Genmab and the acquisition of Allergan are definitely good news that the company is seeking to diversify. | Emgality produced $74 million in global sales for Eli Lilly in the fist quarter, almost $8 million more than worldwide sales of the drug in the previous quarter. Two other key takeaways from AbbVie's 2019 earnings report regarded its recent launches of rheumatoid arthritis drug Rinvoq and plaque psoriasis medicine Skyrizi. Worldwide Rinvoq revenue totaled $47 million in 2019, while total net sales of Skyrizi were $355 million. | Emgality produced $74 million in global sales for Eli Lilly in the fist quarter, almost $8 million more than worldwide sales of the drug in the previous quarter. AbbVie's full-year 2019 revenue across all drug segments totaled approximately $33 billion, so Humira was responsible for roughly 60% of AbbVie's total net revenue last year. 10 stocks we like better than Eli Lilly and Company When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | The case for Eli Lilly Last year was a good one for Eli Lilly. The company projects that Rinvoq and Skyrizi revenue together could be close to $2 billion this year. AbbVie's Q1 2020 revenue was up about 10% from Q1 2019 at $8.6 billion. |
32572.0 | 2020-07-03 00:00:00 UTC | 5 High-Yield Dividend Stocks to Watch | ABT | https://www.nasdaq.com/articles/5-high-yield-dividend-stocks-to-watch-2020-07-03 | nan | nan | In a world of low interest rates, investors have had to become creative to find yield. One of the places they've found cash returns is in dividend stocks, particularly those that offer a relatively high payout. However, the higher the yield, the more risk investors face.
Fortunately, some high-yield dividend stocks remain well-positioned to sustain their dividends. The stocks below offer generous cash returns supported by growing businesses. The following companies should earn rising profits and bring further payout hikes over time.
Image source: Getty Images.
AbbVie
AbbVie (NYSE: ABBV) spent most of its history as a subsidiary of Abbott Laboratories before becoming an independent company in 2013. Consequently, it also benefits from a Dividend Aristocrat status that it gained from Abbott.
Its annual dividend, which now stands at $4.72 per share, yields about 4.8% as of Thursday's close. Moreover, this payout appears stable. Thanks to a dividend payout ratio just under 60%, the company looks positioned to sustain annual increases while having plenty of profit left over to invest in its drug pipeline.
The pipeline remains a significant concern. AbbVie stock benefited from a five-year bull run in most of the last decade. However, it spent 2018 and most of 2019 in decline as investors worried about where the company would find revenue as the patents on its blockbuster drug Humira began to expire across the world.
ABBV data by YCharts
AbbVie's prospects improved as it addressed that concern. The drugmaker's hematologic drugs Imbruvica and Venclexta have seen massive increases in revenue over the last year. Moreover, its takeover of Allergan should increase its offerings. Furthermore, with a forward P/E ratio just under 10, investors can buy this cash stream at a reasonable valuation.
AT&T
AT&T (NYSE: T) has struggled for years amid intense competition and costly buildouts. Also, its phone line and pay-TV businesses have fallen victim to changing technology. This has caused the company's stock to suffer. It sells at a forward P/E ratio of around 9.4 (as of Thursday's close) and trades at a price it first reached in the '90s!
T data by YCharts
The reticence about AT&T's stock is understandable. Its purchase of DirecTV and what is now WarnerMedia left the company with a long-term debt of $147.202 billion as of the last quarter.
However, the years of stagnation along with a Dividend Aristocrat status have taken the annual dividend to $2.08 per share, a yield of approximately 7%. Also, the dividend payout ratio measured against quarterly income amounts to almost 82%. While that may appear elevated, forecasts point to improving profits, which may significantly reduce that ratio.
Moreover, one of its costly investments could pay off for the company. Over the last few years, it has spent tens of billions on building a nationwide 5G network. As consumers move to 5G technology, AT&T will become only one of three providers of 5G service. This increases the likelihood of rising profits and increasing payouts for years to come.
Innovative Industrial Properties
Innovative Industrial Properties (NYSE: IIPR) is a real estate investment trust (REIT) that provides properties in the U.S. designed to facilitate the growth of cannabis. Since it doesn't produce or sell marijuana directly, it's not subject to the regulations affecting most of the industry.
Also, as a REIT, it must pay a dividend out of its net income to maintain that status. The current annual payout of $4.24 per share yields around 4.5%. This payout has increased every year since 2017.
Moreover, the company will more than likely have to raise dividends. In the most recent quarter, net income increased by 249% year over year, and revenue rose by 210%. Such increases have helped to fuel stock-price growth over the last few years.
IIPR data by YCharts
The growth trend should continue for the foreseeable future. According to Grandview Research, the compound annual growth rate (CAGR) of the marijuana industry is 18.1% globally. Also, with hemp legal in all 50 states, Innovative Industrial can operate anywhere in the country.
Moreover, in the previous quarter, it reported $1.12 per share in funds from operations (FFO).This would give the REIT a price-to-FFO ratio of about 21.1, assuming stable FFO income. Hence, the company offers a low-cost multiple considering its growth. This should continue to fuel both Innovative Industrial and its dividend for the foreseeable future.
IBM
International Business Machines (NYSE: IBM) recently hiked its dividend for the 25th straight year, making it the newest Dividend Aristocrat. Its current annual payout of $6.52 per share gives this stock a yield of 5.4%. Still, despite this generous payout, IBM stock still trades at a forward P/E ratio of just under 11.
Years of stagnating revenue and profits may help explain this low multiple. As of the time of this writing, IBM sells for almost 45% less than its peak in 2013.
IBM data by YCharts.
However, IBM bulls have a reason for optimism. The company appointed the leader of its cloud division, Arvind Krishna, as its new CEO in April. In Krishna's last quarter as the head of cloud computing, cloud revenue increased by 19% year over year. This occurred as overall revenue dropped by 3.4% from the same quarter last year. Both these results and Krishna's focus point to IBM becoming more of a cloud company.
Also, IBM's dividend payout ratio stands at about 64%. Though the dividend is not in trouble for now, this ratio indicates that IBM will need income growth to maintain payout hikes.
Nonetheless, with a more cloud-oriented focus, IBM can probably continue its dividend increases. Moreover, it could also inspire some long-awaited growth in the IBM stock price.
Prudential Financial
Prudential Financial (NYSE: PRU) provides wealth management and retirement products for individuals and institutions alike. The company has consistently increased its annual payout since 2008, topping $4 this year, and should have no trouble maintaining it. Even though its yield is over 7% today, its payout ratio is a manageable 57%.
However, the risk with this stock may come from the stock price. It's fallen by more than 30% over the last five years, with the coronavirus pandemic causing most of this drop. As a result, the forward P/E ratio now stands at around 6.4.
PRU data by YCharts
Despite Prudential's low P/E, investors shouldn't rely on significant multiple expansion for gains. However, earnings increased by an average of almost 7.1% per year over the last five years. Even though profit growth turned negative in the most recent earnings report, both Prudential's dividend and its stock price should register growth as the economy recovers.
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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. | Thanks to a dividend payout ratio just under 60%, the company looks positioned to sustain annual increases while having plenty of profit left over to invest in its drug pipeline. However, it spent 2018 and most of 2019 in decline as investors worried about where the company would find revenue as the patents on its blockbuster drug Humira began to expire across the world. PRU data by YCharts Despite Prudential's low P/E, investors shouldn't rely on significant multiple expansion for gains. | Innovative Industrial Properties Innovative Industrial Properties (NYSE: IIPR) is a real estate investment trust (REIT) that provides properties in the U.S. designed to facilitate the growth of cannabis. In the most recent quarter, net income increased by 249% year over year, and revenue rose by 210%. PRU data by YCharts Despite Prudential's low P/E, investors shouldn't rely on significant multiple expansion for gains. | Thanks to a dividend payout ratio just under 60%, the company looks positioned to sustain annual increases while having plenty of profit left over to invest in its drug pipeline. However, the years of stagnation along with a Dividend Aristocrat status have taken the annual dividend to $2.08 per share, a yield of approximately 7%. International Business Machines (NYSE: IBM) recently hiked its dividend for the 25th straight year, making it the newest Dividend Aristocrat. | Thanks to a dividend payout ratio just under 60%, the company looks positioned to sustain annual increases while having plenty of profit left over to invest in its drug pipeline. This payout has increased every year since 2017. Also, IBM's dividend payout ratio stands at about 64%. |
32573.0 | 2020-06-29 00:00:00 UTC | Abbott, Tandem Diabetes Care Partner To Develop Integrated Diabetes Solutions | ABT | https://www.nasdaq.com/articles/abbott-tandem-diabetes-care-partner-to-develop-integrated-diabetes-solutions-2020-06-29 | nan | nan | (RTTNews) - Abbott (ABT) and Tandem Diabetes Care (TNDM) have finalized an agreement to develop and commercialize integrated diabetes solutions that combine Abbott's continuous glucose monitoring technology with Tandem's insulin delivery systems. The companies will focus initial commercial activities in the U.S. and Canada with additional geographies considered in the future.
Jared Watkin, senior vice president, Diabetes Care, Abbott, said: "By combining our glucose sensing technology with Tandem's insulin delivery systems, we will be able to create a cohesive ecosystem for people with diabetes that can fit easily into their daily lives."
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) and Tandem Diabetes Care (TNDM) have finalized an agreement to develop and commercialize integrated diabetes solutions that combine Abbott's continuous glucose monitoring technology with Tandem's insulin delivery systems. The companies will focus initial commercial activities in the U.S. and Canada with additional geographies considered in the future. Jared Watkin, senior vice president, Diabetes Care, Abbott, said: "By combining our glucose sensing technology with Tandem's insulin delivery systems, we will be able to create a cohesive ecosystem for people with diabetes that can fit easily into their daily lives." | (RTTNews) - Abbott (ABT) and Tandem Diabetes Care (TNDM) have finalized an agreement to develop and commercialize integrated diabetes solutions that combine Abbott's continuous glucose monitoring technology with Tandem's insulin delivery systems. Jared Watkin, senior vice president, Diabetes Care, Abbott, said: "By combining our glucose sensing technology with Tandem's insulin delivery systems, we will be able to create a cohesive ecosystem for people with diabetes that can fit easily into their daily lives." 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) and Tandem Diabetes Care (TNDM) have finalized an agreement to develop and commercialize integrated diabetes solutions that combine Abbott's continuous glucose monitoring technology with Tandem's insulin delivery systems. Jared Watkin, senior vice president, Diabetes Care, Abbott, said: "By combining our glucose sensing technology with Tandem's insulin delivery systems, we will be able to create a cohesive ecosystem for people with diabetes that can fit easily into their daily lives." 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) and Tandem Diabetes Care (TNDM) have finalized an agreement to develop and commercialize integrated diabetes solutions that combine Abbott's continuous glucose monitoring technology with Tandem's insulin delivery systems. The companies will focus initial commercial activities in the U.S. and Canada with additional geographies considered in the future. Jared Watkin, senior vice president, Diabetes Care, Abbott, said: "By combining our glucose sensing technology with Tandem's insulin delivery systems, we will be able to create a cohesive ecosystem for people with diabetes that can fit easily into their daily lives." |
32574.0 | 2020-06-29 00:00:00 UTC | U.S. FDA allows emergency use of Danaher's COVID-19 antibody test | ABT | https://www.nasdaq.com/articles/u.s.-fda-allows-emergency-use-of-danahers-covid-19-antibody-test-2020-06-29 | nan | nan | June 29 (Reuters) - Medical device maker Danaher Corp DHR.N said on Monday its COVID-19 blood test for detecting if a person had ever been infected with the new coronavirus received emergency use clearance from the U.S. Food and Drug Administration.
The company's unit Beckman Coulter said it had shipped the antibody tests to nearly 400 U.S. hospitals and laboratories, and has ramped up production to deliver more than 30 million tests a month.
Antibody tests, which can indicate a certain degree of immunity in those who have had the virus, are seen crucial in safely reopening economies after weeks of lockdowns.
High demand for the test has led to the entry of several fraudulent kits, prompting the FDA to tighten its rules over the tests.
Danaher said its antibody test has a specificity rate of 99.6% and 100% sensitivity, suggesting very few chances of false positives and no false negatives.
Abbott Laboratories' ABT.N antibody test has a specificity rate of 99.9%, while the rate stands at 99.8% for Roche Holding AG's ROG.S test. Both companies have received the FDA's emergency use authorization for their tests.
Danaher also said it has begun distribution of its antibody test in other countries that accept the U.S. FDA's clearance.
(Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Shinjini Ganguli and Amy Caren Daniel)
((saumya.joseph@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 2676; Twitter: @SaumyaSibi;))
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 antibody test has a specificity rate of 99.9%, while the rate stands at 99.8% for Roche Holding AG's ROG.S test. June 29 (Reuters) - Medical device maker Danaher Corp DHR.N said on Monday its COVID-19 blood test for detecting if a person had ever been infected with the new coronavirus received emergency use clearance from the U.S. Food and Drug Administration. Antibody tests, which can indicate a certain degree of immunity in those who have had the virus, are seen crucial in safely reopening economies after weeks of lockdowns. | Abbott Laboratories' ABT.N antibody test has a specificity rate of 99.9%, while the rate stands at 99.8% for Roche Holding AG's ROG.S test. Danaher said its antibody test has a specificity rate of 99.6% and 100% sensitivity, suggesting very few chances of false positives and no false negatives. Both companies have received the FDA's emergency use authorization for their tests. | Abbott Laboratories' ABT.N antibody test has a specificity rate of 99.9%, while the rate stands at 99.8% for Roche Holding AG's ROG.S test. The company's unit Beckman Coulter said it had shipped the antibody tests to nearly 400 U.S. hospitals and laboratories, and has ramped up production to deliver more than 30 million tests a month. High demand for the test has led to the entry of several fraudulent kits, prompting the FDA to tighten its rules over the tests. | Abbott Laboratories' ABT.N antibody test has a specificity rate of 99.9%, while the rate stands at 99.8% for Roche Holding AG's ROG.S test. Antibody tests, which can indicate a certain degree of immunity in those who have had the virus, are seen crucial in safely reopening economies after weeks of lockdowns. High demand for the test has led to the entry of several fraudulent kits, prompting the FDA to tighten its rules over the tests. |
32575.0 | 2020-06-27 00:00:00 UTC | 3 Top Pharma Stocks to Buy in a Recession | ABT | https://www.nasdaq.com/articles/3-top-pharma-stocks-to-buy-in-a-recession-2020-06-27 | nan | nan | We've officially been in a recession in the U.S. since February, according to the National Bureau of Economic Research. Some pundits think that the economy will rebound quickly, and many stock traders appear to be in that camp, considering how the equities market has climbed back from its steep February-March plunge over the subsequent three months. Other experts, though, are predicting that it's going to take a lot longer for the economy to recover. They anticipate lingering high unemployment rates and the real possibility that fall will bring new waves of COVID-19 outbreaks across the country.
Regardless of how long this recession lasts, investing in big pharma stocks could be a smart move. Large drugmakers typically have significant financial flexibility to weather economic storms. They sell products that people need regardless of how the economy is performing.
But which pharma stocks are the top picks to own in a recession? Here are three that especially stand out, listed in alphabetical order.
Image source: Getty Images.
1. AbbVie
Arguably the most attractive thing about AbbVie (NYSE: ABBV) is its outstanding dividend, which currently yields close to 4.9%. Including the time that it was part of Abbott Labs, AbbVie claims an impressive track record of 47 consecutive years of dividend increases. That should give investors confidence that the company will prioritize its dividend even during challenging economic periods.
Of course, what makes AbbVie's nice dividends possible is the strong cash flow generated by its top drugs. Humira remains the biggest moneymaker for now. But the immunology drug already faces biosimilar competition in Europe and will in the U.S. beginning in 2023.
AbbVie has several products that it thinks can pick up the slack as Humira's sales fall. Cancer drugs Imbruvica and Venclexta continue to enjoy strong sales momentum. And the company's new immunology drugs, Rinvoq and Skyrizi, appear to be poised to take the baton from Humira.
In addition, AbbVie's recent acquisition of Allergan brought the blockbuster Botox franchise into its lineup, as well as a long list of other drugs. That will significantly reduce its revenue reliance on Humira.
2. Bristol Myers Squibb
Bristol Myers Squibb (NYSE: BMY) is another big pharmaceutical company that has benefited from a key acquisition. Its buyout of Celgene in late 2019 has dramatically transformed its product lineup and pipeline.
Drugs including blood thinner Eliquis and cancer immunotherapy Opdivo were already tremendously successful for Bristol Myers Squibb before it acquired Celgene. Now, three other big blockbusters have been added to its lineup: Revlimid, Pomalyst/Imnovid, and Abraxane. The Celgene deal also brought it several recently approved drugs that should be big winners, including multiple sclerosis drug Zeposia and Reblozyl, which treats anemia in beta-thalassemia and myelodysplastic syndromes.
Bristol Myers Squibb's pipeline is deeper after the Celgene transaction as well. The company hopes to soon win regulatory approvals for CAR-T therapies ide-cel and liso-cel. It has more than 50 late-stage programs, over 30 of which are pursuing additional indications for Opdivo either as a monotherapy or in combination with other drugs.
The pharma company's current product lineup and pipeline should enable it to deliver strong earnings growth over the next few years. Bristol Myers Squibb also offers an attractive dividend that currently yields around 3.1%.
3. Eli Lilly
Eli Lilly (NYSE: LLY) has, perhaps surprisingly, become one of the top stocks to watch in the race to develop treatments for COVID-19. The company is conducting early-stage clinical studies of two antibody therapies. It's evaluating experimental drug LY3127804 in treating COVID-19 patients with pneumonia. And Lilly's rheumatoid arthritis drug Olumiant is in late-stage testing for treating COVID-19.
But Eli Lilly is better known for its drugs targeting other diseases. Diabetes drugs Jardiance and Trulicity continue to rake in billions of dollars each year. It's is a major player in immunology with Olumiant and Taltz. It's also an oncology leader with cancer drugs Cyramza and Verzenio, both of which are likely on the way to generating blockbuster sales.
Verzenio could become Lilly's biggest oncology winner: The company reported overwhelmingly positive results earlier this month from a phase 3 study of the drug as a treatment for early-stage breast cancer. Lilly also recently won FDA approval for Retevmo in treating lung and thyroid cancer. In addition, the company's pipeline includes promising late-stage candidates targeting osteoarthritic pain, atopic dermatitis, and psoriasis.
Wall Street analysts expect Lilly to generate average annual earnings growth of close to 13.5% over the next few years. The drugmaker also pays a dividend that yields north of 1.8%.
Good recession plays
AbbVie, Bristol Myers Squibb, and Eli Lilly aren't totally immune to the effects of a recession. The stocks could sink somewhat with any major market downturn caused by an economic decline. It's also possible that their sales could be impacted if patients lose their jobs and can't afford to pay for their prescription drugs. However, I think that all three stocks will hold up better than most during a recession -- especially a prolonged one.
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Keith Speights owns shares of AbbVie and Bristol Myers Squibb. The Motley Fool owns shares of and recommends Bristol Myers Squibb. 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. | Some pundits think that the economy will rebound quickly, and many stock traders appear to be in that camp, considering how the equities market has climbed back from its steep February-March plunge over the subsequent three months. Drugs including blood thinner Eliquis and cancer immunotherapy Opdivo were already tremendously successful for Bristol Myers Squibb before it acquired Celgene. Verzenio could become Lilly's biggest oncology winner: The company reported overwhelmingly positive results earlier this month from a phase 3 study of the drug as a treatment for early-stage breast cancer. | Bristol Myers Squibb Bristol Myers Squibb (NYSE: BMY) is another big pharmaceutical company that has benefited from a key acquisition. Eli Lilly Eli Lilly (NYSE: LLY) has, perhaps surprisingly, become one of the top stocks to watch in the race to develop treatments for COVID-19. Good recession plays AbbVie, Bristol Myers Squibb, and Eli Lilly aren't totally immune to the effects of a recession. | Bristol Myers Squibb Bristol Myers Squibb (NYSE: BMY) is another big pharmaceutical company that has benefited from a key acquisition. 10 stocks we like better than Bristol Myers Squibb When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Keith Speights owns shares of AbbVie and Bristol Myers Squibb. | But which pharma stocks are the top picks to own in a recession? In addition, AbbVie's recent acquisition of Allergan brought the blockbuster Botox franchise into its lineup, as well as a long list of other drugs. Good recession plays AbbVie, Bristol Myers Squibb, and Eli Lilly aren't totally immune to the effects of a recession. |
32576.0 | 2020-06-25 00:00:00 UTC | CRBN, CMCSA, SLB, ABT: ETF Outflow Alert | ABT | https://www.nasdaq.com/articles/crbn-cmcsa-slb-abt%3A-etf-outflow-alert-2020-06-25 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI ACWI Low Carbon Target ETF (Symbol: CRBN) where we have detected an approximate $83.7 million dollar outflow -- that's a 17.1% decrease week over week (from 4,100,000 to 3,400,000). Among the largest underlying components of CRBN, in trading today Comcast Corp (Symbol: CMCSA) is off about 0.8%, Schlumberger Ltd (Symbol: SLB) is up about 4%, and Abbott Laboratories (Symbol: ABT) is higher by about 0.1%. For a complete list of holdings, visit the CRBN Holdings page » The chart below shows the one year price performance of CRBN, versus its 200 day moving average:
Looking at the chart above, CRBN's low point in its 52 week range is $87.45 per share, with $133.84 as the 52 week high point — that compares with a last trade of $119.30. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of CRBN, in trading today Comcast Corp (Symbol: CMCSA) is off about 0.8%, Schlumberger Ltd (Symbol: SLB) is up about 4%, and Abbott Laboratories (Symbol: ABT) is higher by about 0.1%. For a complete list of holdings, visit the CRBN Holdings page » The chart below shows the one year price performance of CRBN, versus its 200 day moving average: Looking at the chart above, CRBN's low point in its 52 week range is $87.45 per share, with $133.84 as the 52 week high point — that compares with a last trade of $119.30. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of CRBN, in trading today Comcast Corp (Symbol: CMCSA) is off about 0.8%, Schlumberger Ltd (Symbol: SLB) is up about 4%, and Abbott Laboratories (Symbol: ABT) is higher by about 0.1%. For a complete list of holdings, visit the CRBN Holdings page » The chart below shows the one year price performance of CRBN, versus its 200 day moving average: Looking at the chart above, CRBN's low point in its 52 week range is $87.45 per share, with $133.84 as the 52 week high point — that compares with a last trade of $119.30. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). | Among the largest underlying components of CRBN, in trading today Comcast Corp (Symbol: CMCSA) is off about 0.8%, Schlumberger Ltd (Symbol: SLB) is up about 4%, and Abbott Laboratories (Symbol: ABT) is higher by about 0.1%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI ACWI Low Carbon Target ETF (Symbol: CRBN) where we have detected an approximate $83.7 million dollar outflow -- that's a 17.1% decrease week over week (from 4,100,000 to 3,400,000). For a complete list of holdings, visit the CRBN Holdings page » The chart below shows the one year price performance of CRBN, versus its 200 day moving average: Looking at the chart above, CRBN's low point in its 52 week range is $87.45 per share, with $133.84 as the 52 week high point — that compares with a last trade of $119.30. | Among the largest underlying components of CRBN, in trading today Comcast Corp (Symbol: CMCSA) is off about 0.8%, Schlumberger Ltd (Symbol: SLB) is up about 4%, and Abbott Laboratories (Symbol: ABT) is higher by about 0.1%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI ACWI Low Carbon Target ETF (Symbol: CRBN) where we have detected an approximate $83.7 million dollar outflow -- that's a 17.1% decrease week over week (from 4,100,000 to 3,400,000). For a complete list of holdings, visit the CRBN Holdings page » The chart below shows the one year price performance of CRBN, versus its 200 day moving average: Looking at the chart above, CRBN's low point in its 52 week range is $87.45 per share, with $133.84 as the 52 week high point — that compares with a last trade of $119.30. |
32577.0 | 2020-06-25 00:00:00 UTC | Many studies of COVID-19 antibody test accuracy fall short - review | ABT | https://www.nasdaq.com/articles/many-studies-of-covid-19-antibody-test-accuracy-fall-short-review-2020-06-25 | nan | nan | By John Miller
ZURICH, June 25 (Reuters) - Many studies assessing the accuracy of COVID-19 antibody tests had major shortcomings, a review released on Thursday concluded, offering further evidence the blood tests are of little use for people seeking to know with certainty if they have been infected.
Cochrane, a British-based journal that reviews research evidence to help decision makers adopt better health policies, looked at 54 studies, mostly from Asia, that sought to measure the reliability of tests purporting to show whether somebody has developed antibodies against the new coronavirus.
The studies were often small, did not use the most reliable methods, and results were often incomplete, Cochrane said in its 310-page report.
Also, most of those tested had been admitted to hospital, offering no insight into how well the tests could detect antibodies in the majority of people with milder symptoms.
There is intense interest in these antibody tests, which rely on either a finger prick or a venous blood draw, by people eager to know whether they have had COVID-19 or not.
There has been speculation that a positive result might mean people have some protection, at least temporarily, against re-infection. Such hopes are unrealistic, said Jon Deeks, a professor of biostatistics at the University of Birmingham who leads Cochrane's test evaluation efforts.
"A lot of people in the UK are very interested and keen to know, but there is no decision they should be making at the moment based on the results of that test," Deeks told reporters.
In all, the Cochrane researchers identified data from 25 commercial COVID-19 tests, a fraction of roughly 300 such tests that exist. Their review did not include tests offered by Roche ROG.S or Abbott Laboratories ABT.N, which were approved by regulators after the cut-off deadline of April 27.
Updates of Cochrane's report plan to include data from both companies' tests, which are now being sold by the millions in the United States and Europe.
While the studies reviewed by Cochrane showed the antibody tests were better at detecting COVID-19 antibodies in people two or more weeks after their symptoms started, they did not provide clues as to how well they work in patients further from infection.
Such gaps undermine the value of tests as tools in so-called "seroprevalence studies", to determine what percentage of people in a population may have been exposed to the virus.
"We don't know how well these tests work beyond five weeks, so that's our greatest concern," Deeks said. "In seroprevalence studies, you're looking beyond that and really we need some data which says, 'How well do they work at three months, four months, five months.'"
UNDER SCRUTINY
Scientific studies' veracity has been under scrutiny during the pandemic, more so after British medical journal The Lancet issued an apology after publishing a study on health risks from the malaria drug hydroxychloroquine in COVID-19 patients that was retracted by three of its authors.
Cochrane said that of the 54 studies it looked at that covered nearly 16,000 samples, 89% had a high risk of bias based on how participants were selected, since they were unlikely to match patient populations in clinical practice.
There were more problems, Cochrane said, including often no mention of whether the samples were anonymized or blinded, potentially leading technicians to repeat tests if they thought they had got the wrong result.
Some studies withheld results, while others included five or more samples per patient, resulting in inflated sample sizes and results that were falsely precise, Deeks said.
"For many of the studies, we could never find out how many patients were included in them," he said. "All we know is how many samples were tested."
(Reporting by John Miller, Editing by Timothy Heritage)
((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. | Their review did not include tests offered by Roche ROG.S or Abbott Laboratories ABT.N, which were approved by regulators after the cut-off deadline of April 27. Cochrane, a British-based journal that reviews research evidence to help decision makers adopt better health policies, looked at 54 studies, mostly from Asia, that sought to measure the reliability of tests purporting to show whether somebody has developed antibodies against the new coronavirus. Cochrane said that of the 54 studies it looked at that covered nearly 16,000 samples, 89% had a high risk of bias based on how participants were selected, since they were unlikely to match patient populations in clinical practice. | Their review did not include tests offered by Roche ROG.S or Abbott Laboratories ABT.N, which were approved by regulators after the cut-off deadline of April 27. Cochrane, a British-based journal that reviews research evidence to help decision makers adopt better health policies, looked at 54 studies, mostly from Asia, that sought to measure the reliability of tests purporting to show whether somebody has developed antibodies against the new coronavirus. While the studies reviewed by Cochrane showed the antibody tests were better at detecting COVID-19 antibodies in people two or more weeks after their symptoms started, they did not provide clues as to how well they work in patients further from infection. | Their review did not include tests offered by Roche ROG.S or Abbott Laboratories ABT.N, which were approved by regulators after the cut-off deadline of April 27. By John Miller ZURICH, June 25 (Reuters) - Many studies assessing the accuracy of COVID-19 antibody tests had major shortcomings, a review released on Thursday concluded, offering further evidence the blood tests are of little use for people seeking to know with certainty if they have been infected. While the studies reviewed by Cochrane showed the antibody tests were better at detecting COVID-19 antibodies in people two or more weeks after their symptoms started, they did not provide clues as to how well they work in patients further from infection. | Their review did not include tests offered by Roche ROG.S or Abbott Laboratories ABT.N, which were approved by regulators after the cut-off deadline of April 27. By John Miller ZURICH, June 25 (Reuters) - Many studies assessing the accuracy of COVID-19 antibody tests had major shortcomings, a review released on Thursday concluded, offering further evidence the blood tests are of little use for people seeking to know with certainty if they have been infected. While the studies reviewed by Cochrane showed the antibody tests were better at detecting COVID-19 antibodies in people two or more weeks after their symptoms started, they did not provide clues as to how well they work in patients further from infection. |
32578.0 | 2020-06-20 00:00:00 UTC | The 3 Best Coronavirus Stocks to Buy for Long-Term Investors | ABT | https://www.nasdaq.com/articles/the-3-best-coronavirus-stocks-to-buy-for-long-term-investors-2020-06-20 | nan | nan | Let's face it: Some companies that are receiving a lot of hype right now about their COVID-19 programs won't have staying power. Small biotechs claiming to have a game-changing treatment on the way could run into the harsh realities of clinical testing. Diagnostic test makers with all of their chips on COVID-19 could be left in the dust a couple of years from now when the pandemic has run its course.
The stocks of such companies might be OK for traders to buy to make a quick buck in the short run. But they're unsuitable for investors seeking to generate big gains over the long run. Here are my picks for the three best coronavirus-related stocks to buy for long-term investors.
Image source: Getty Images.
1. Abbott Labs
Abbott Labs (NYSE: ABT) quickly rolled out several COVID-19 diagnostic tests after the coronavirus hit with full force earlier this year. Its ID NOW test, which received FDA Emergency Use Authorization (EUA) in late March, attracted significant attention because it offered the fastest results of any COVID-19 test available.
I expect that COVID-19 testing will continue to fuel sales growth for Abbott over the next few years. However, there are several more important growth drivers for the company.
Put Freestyle Libre at the top of the list. Abbott recently won FDA clearance for a new version of the continuous glucose monitoring (CGM) system that supports integration with other medical devices. My prediction is that Freestyle Libre 2 will enjoy skyrocketing consumer demand and be a resounding success for Abbott.
Wall Street analysts project that Abbott will be able to deliver average annual earnings growth of more than 10% over the next five years. I think that estimate is realistic. Throw in Abbott's reliable dividend, and you've got a blue chip stock with a COVID-19 focus that's likely to beat the total returns of the S&P 500 over the long run.
2. Gilead Sciences
Gilead Sciences (NASDAQ: GILD) has been at the center of the coronavirus world since its antiviral drug remdesevir was first touted as a potential treatment for COVID-19. With late-stage clinical studies now supporting the safety and efficacy for remdesivir, Gilead is well positioned to remain a fixture in the fight against the novel coronavirus.
However, it's Gilead's treatment for another virus -- HIV -- that has been and will continue to be its biggest opportunity. The biotech's lineup includes multiple blockbuster HIV drugs. Gilead is evaluating a long-acting HIV therapy in phase 2 clinical studies that could be its greatest commercial success yet. Looking further down the road, the company could even have a cure for HIV on the way.
Thanks to its strategic partnership with Galapagos, Gilead is poised to make its mark in immunology. The company awaits U.S. and European regulatory approvals for filgotinib in treating rheumatoid arthritis. It also is likely to become an even bigger player in the oncology market with new indications for CAR-T therapy Yescarta potentially on the way and the acquisition earlier this year of cancer-focused biotech Forty Seven.
My view is that Gilead's COVID-19, HIV, immunology, and oncology programs will enable the big biotech to deliver solid growth over the long run. That growth will be bolstered by one of the most attractive dividends in the healthcare sector: Gilead's dividend yield currently stands at nearly 3.7%.
3. Eli Lilly
While lots of small biotechs have scrambled to develop COVID-19 therapies, I've kept my eyes on Eli Lilly (NYSE: LLY). The big drugmaker has moved at breakneck speed with its partners to advance two COVID-19 antibody therapies into clinical studies. It's also evaluating blockbuster rheumatoid arthritis drug Olumiant and pipeline candidate LY3127804 in treating COVID-19.
I won't be surprised if Lilly achieves success with at least one of its coronavirus efforts. In the meantime, the company's diabetes drug franchise continues to rock along thanks primarily to strong sales for Jardiance and Trulicity. Lilly is also a top contender in the immunology market with Olumiant and Taltz.
The company's greatest growth opportunity, though, could be in oncology. Lilly recently announced overwhelmingly positive results from a late-stage study of Verzenio in treating early-stage breast cancer. It won FDA approval in May for Retevmo in treating lung and thyroid cancer. Cyramza also continues to pick up momentum in treating several solid tumors.
Analysts think that Lilly could deliver average annual earnings growth of nearly 13% over the next five years. That level seems quite attainable to me, considering the company's solid current lineup and promising pipeline. With Lilly's dividend yield of 1.8% included, I think the pharma stock should easily outperform the overall market's total returns over the long run.
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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 rolled out several COVID-19 diagnostic tests after the coronavirus hit with full force earlier this year. Abbott recently won FDA clearance for a new version of the continuous glucose monitoring (CGM) system that supports integration with other medical devices. It also is likely to become an even bigger player in the oncology market with new indications for CAR-T therapy Yescarta potentially on the way and the acquisition earlier this year of cancer-focused biotech Forty Seven. | Abbott Labs Abbott Labs (NYSE: ABT) quickly rolled out several COVID-19 diagnostic tests after the coronavirus hit with full force earlier this year. My view is that Gilead's COVID-19, HIV, immunology, and oncology programs will enable the big biotech to deliver solid growth over the long run. It's also evaluating blockbuster rheumatoid arthritis drug Olumiant and pipeline candidate LY3127804 in treating COVID-19. | Abbott Labs Abbott Labs (NYSE: ABT) quickly rolled out several COVID-19 diagnostic tests after the coronavirus hit with full force earlier this year. Gilead Sciences Gilead Sciences (NASDAQ: GILD) has been at the center of the coronavirus world since its antiviral drug remdesevir was first touted as a potential treatment for COVID-19. My view is that Gilead's COVID-19, HIV, immunology, and oncology programs will enable the big biotech to deliver solid growth over the long run. | Abbott Labs Abbott Labs (NYSE: ABT) quickly rolled out several COVID-19 diagnostic tests after the coronavirus hit with full force earlier this year. I expect that COVID-19 testing will continue to fuel sales growth for Abbott over the next few years. My view is that Gilead's COVID-19, HIV, immunology, and oncology programs will enable the big biotech to deliver solid growth over the long run. |
32579.0 | 2020-06-18 00:00:00 UTC | Better Coronavirus Stock: Abbott Labs or Hologic? | ABT | https://www.nasdaq.com/articles/better-coronavirus-stock%3A-abbott-labs-or-hologic-2020-06-18 | nan | nan | As of June 18, the number of COVID-19 cases in the United States had ballooned to over 2.2 million. More than 117,000 of those patients have died -- more than a quarter of the pandemic's global death toll.
Now, with the Trump administration intensifying its push to revive economic activity and end the lockdown measures that states have used to stem the disease's spread, it's only getting more important to be able to accurately and widely test people for SARS-CoV-2 infections.
Through testing, healthcare workers will be able to identify and isolate patients with active infections and slow the spread of the disease. Since March, the U.S. Food and Drug Administration (FDA) has authorized more than 100 COVID-19 diagnostic tests for use. Unfortunately, many of these tests face questions regarding their accuracy in real-world settings, despite looking solid when tested in the laboratory.
Nonetheless, these kits are fetching hefty prices, with many laboratories and clinics charging between $95 to $209 per test, and some even higher. If 10 million Americans were tested (a number achieved last month ) at these prices, the market opportunity could amount to more than $1 billion. In light of that, this is an opportune moment to take a look at two companies making COVID-19 diagnostic tests, Abbott Laboratories (NYSE: ABT) and Hologic (NASDAQ: HOLX), and consider which is the better coronavirus stock to buy now.
Image Source: Getty Images.
The problem with COVID-19 testing
The main problem with disease testing is that a test's accuracy can vary significantly based on the overall prevalence of the condition in the population being tested. For example, a test with 95% accuracy does not give an erroneous result 5% of the time; in fact, the error rate can be as high as 50% if the prevalence of the disease among those being tested is very low. The lower the percentage of true positives to be found, the larger the effect false positives can have on the statistical results.
Almost all of the COVID-19 diagnostics tests were verified in labs. In this process, the tests were required to make correct diagnoses of a limited number of tissue samples, half of which contained SARS-CoV-2, and half of which did not. Regardless of how well they might have performed in those evaluation processes, though, the manufacturers were measuring the accuracy of their tests against a theoretical COVID-19 prevalence of 50% -- which is simply out of touch with the pandemic's reality. (Remember, the lower the prevalence, the less accurate the test will be compared to what is stated.) Hence investors should understand that the advertised accuracy of specific COVID-19 diagnostic tests can be drastically inflated.
Abbott's COVID-19 tests
Abbott's ID Now test for COVID-19 suffers from the problem described above. Last month, the company announced the test was 94.7% effective at detecting positive cases (sensitivity) and 98.6% effective at accurately reporting negative results (specificity). The test was also stated to obtain results in as little as 5 to 13 minutes.
With these laboratory findings, the FDA quickly gave emergency use authorization to ID Now. President Trump praised the test, which was used to screen staff at the White House.
However, a preliminary report by New York University found that the test missed 33% to 50% of the cases of COVID-19. Abbott's response to the report asserted that the NYU researchers had used the test incorrectly. Unfortunately, additional studies published by Stanford University, Loyola University, and the Cleveland Clinic have all verified NYU's preliminary report, finding that ID Now is far from accurate.
The findings do not bode well for Abbott. As of June 9, the company had shipped more than 3.3 million ID Now tests to all 50 states, but sales of the test may decline significantly due to concerns about its accuracy.
Fortunately, ID Now is not Abbott's only COVID-19 product. It also markets COVID-19 molecular lab tests and SARS-CoV-2 antibody tests, which determine whether a person has recovered from a COVID-19 infection. Combined, more than 14.7 million of those tests have shipped, and neither one has been flagged for accuracy issues.
Hologic's COVID-19 tests
Hologic's COVID-19 diagnostic test suffers from a problem as well. Its testing platform, the Panther Fusion System, is unique in that it uses bleach in the diagnostic process. Unfortunately, most liquids used to maintain specimen samples while they are being transported to laboratories for analysis contain a chemical that can react with bleach to form toxic cyanide gas.
While Hologic's Panther machines have not been flagged for accuracy issues, the cyanide problem is casting a shadow as the company ramps up production to more than 1 million tests per week. The test is, however, quick and practical, with a turnaround time of under two hours.
Which coronavirus stock is better?
If investors were to make a decision between these two companies solely based on their potential to profit from providing diagnostic testing for COVID-19 (which they shouldn't), then I would argue Abbott Laboratories has the upper hand. Even though its ID Now test is less accurate than one would want such a diagnostic tool to be, the company has compensated for that with its molecular lab and antibody test families, for which its production capacity is more than four times as large as for ID Now. Also, Abbott's overall production capacity ranks above that of Hologic, and the latter's safety hazard may throw cold water on it as a rising test option.
So even though with a P/E of 31, Hologic is a much cheaper stock for investors, I think Abbott, with its P/E of 45 and its robust revenue and dividend growth, will be a better deal, because it will better able to meet the needs created by COVID-19.
10 stocks we like better than Abbott Laboratories
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Zhiyuan Sun 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 light of that, this is an opportune moment to take a look at two companies making COVID-19 diagnostic tests, Abbott Laboratories (NYSE: ABT) and Hologic (NASDAQ: HOLX), and consider which is the better coronavirus stock to buy now. Now, with the Trump administration intensifying its push to revive economic activity and end the lockdown measures that states have used to stem the disease's spread, it's only getting more important to be able to accurately and widely test people for SARS-CoV-2 infections. If investors were to make a decision between these two companies solely based on their potential to profit from providing diagnostic testing for COVID-19 (which they shouldn't), then I would argue Abbott Laboratories has the upper hand. | In light of that, this is an opportune moment to take a look at two companies making COVID-19 diagnostic tests, Abbott Laboratories (NYSE: ABT) and Hologic (NASDAQ: HOLX), and consider which is the better coronavirus stock to buy now. Last month, the company announced the test was 94.7% effective at detecting positive cases (sensitivity) and 98.6% effective at accurately reporting negative results (specificity). Hologic's COVID-19 tests Hologic's COVID-19 diagnostic test suffers from a problem as well. | In light of that, this is an opportune moment to take a look at two companies making COVID-19 diagnostic tests, Abbott Laboratories (NYSE: ABT) and Hologic (NASDAQ: HOLX), and consider which is the better coronavirus stock to buy now. The problem with COVID-19 testing The main problem with disease testing is that a test's accuracy can vary significantly based on the overall prevalence of the condition in the population being tested. Abbott's COVID-19 tests Abbott's ID Now test for COVID-19 suffers from the problem described above. | In light of that, this is an opportune moment to take a look at two companies making COVID-19 diagnostic tests, Abbott Laboratories (NYSE: ABT) and Hologic (NASDAQ: HOLX), and consider which is the better coronavirus stock to buy now. Abbott's COVID-19 tests Abbott's ID Now test for COVID-19 suffers from the problem described above. With these laboratory findings, the FDA quickly gave emergency use authorization to ID Now. |
32580.0 | 2020-06-18 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-2020-06-18 | 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
New Jersey Resources Corp (Symbol: NJR) $31.58 $40.67 28.77%
UGI Corp. (Symbol: UGI) $32.21 $41.25 28.07%
AFLAC Inc (Symbol: AFL) $36.79 $45.80 24.49%
National Fuel Gas Co. (Symbol: NFG) $41.33 $47.67 15.33%
Abbott Laboratories (Symbol: ABT) $90.90 $103.75 14.14%
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
New Jersey Resources Corp (Symbol: NJR) 3.96% 28.77% 32.73%
UGI Corp. (Symbol: UGI) 4.10% 28.07% 32.17%
AFLAC Inc (Symbol: AFL) 3.04% 24.49% 27.53%
National Fuel Gas Co. (Symbol: NFG) 4.31% 15.33% 19.64%
Abbott Laboratories (Symbol: ABT) 1.58% 14.14% 15.72%
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
New Jersey Resources Corp (Symbol: NJR) $1.172 $1.252 6.83%
UGI Corp. (Symbol: UGI) $1.08 $1.305 20.83%
AFLAC Inc (Symbol: AFL) $1.06 $1.1 3.77%
National Fuel Gas Co. (Symbol: NFG) $1.7 $1.74 2.35%
Abbott Laboratories (Symbol: ABT) $1.2 $1.36 13.33%
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 NFG — 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. New Jersey Resources Corp (Symbol: NJR) $31.58 $40.67 28.77% UGI Corp. (Symbol: UGI) $32.21 $41.25 28.07% AFLAC Inc (Symbol: AFL) $36.79 $45.80 24.49% National Fuel Gas Co. (Symbol: NFG) $41.33 $47.67 15.33% Abbott Laboratories (Symbol: ABT) $90.90 $103.75 14.14% 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. New Jersey Resources Corp (Symbol: NJR) 3.96% 28.77% 32.73% UGI Corp. (Symbol: UGI) 4.10% 28.07% 32.17% AFLAC Inc (Symbol: AFL) 3.04% 24.49% 27.53% National Fuel Gas Co. (Symbol: NFG) 4.31% 15.33% 19.64% Abbott Laboratories (Symbol: ABT) 1.58% 14.14% 15.72% Another consideration with dividend growth stocks is just how much the dividend is growing. | New Jersey Resources Corp (Symbol: NJR) $31.58 $40.67 28.77% UGI Corp. (Symbol: UGI) $32.21 $41.25 28.07% AFLAC Inc (Symbol: AFL) $36.79 $45.80 24.49% National Fuel Gas Co. (Symbol: NFG) $41.33 $47.67 15.33% Abbott Laboratories (Symbol: ABT) $90.90 $103.75 14.14% 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. New Jersey Resources Corp (Symbol: NJR) 3.96% 28.77% 32.73% UGI Corp. (Symbol: UGI) 4.10% 28.07% 32.17% AFLAC Inc (Symbol: AFL) 3.04% 24.49% 27.53% National Fuel Gas Co. (Symbol: NFG) 4.31% 15.33% 19.64% Abbott Laboratories (Symbol: ABT) 1.58% 14.14% 15.72% Another consideration with dividend growth stocks is just how much the dividend is growing. New Jersey Resources Corp (Symbol: NJR) $1.172 $1.252 6.83% UGI Corp. (Symbol: UGI) $1.08 $1.305 20.83% AFLAC Inc (Symbol: AFL) $1.06 $1.1 3.77% National Fuel Gas Co. (Symbol: NFG) $1.7 $1.74 2.35% Abbott Laboratories (Symbol: ABT) $1.2 $1.36 13.33% These five stocks are part of our full Dividend Aristocrats List. | New Jersey Resources Corp (Symbol: NJR) $31.58 $40.67 28.77% UGI Corp. (Symbol: UGI) $32.21 $41.25 28.07% AFLAC Inc (Symbol: AFL) $36.79 $45.80 24.49% National Fuel Gas Co. (Symbol: NFG) $41.33 $47.67 15.33% Abbott Laboratories (Symbol: ABT) $90.90 $103.75 14.14% 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. New Jersey Resources Corp (Symbol: NJR) 3.96% 28.77% 32.73% UGI Corp. (Symbol: UGI) 4.10% 28.07% 32.17% AFLAC Inc (Symbol: AFL) 3.04% 24.49% 27.53% National Fuel Gas Co. (Symbol: NFG) 4.31% 15.33% 19.64% Abbott Laboratories (Symbol: ABT) 1.58% 14.14% 15.72% Another consideration with dividend growth stocks is just how much the dividend is growing. New Jersey Resources Corp (Symbol: NJR) $1.172 $1.252 6.83% UGI Corp. (Symbol: UGI) $1.08 $1.305 20.83% AFLAC Inc (Symbol: AFL) $1.06 $1.1 3.77% National Fuel Gas Co. (Symbol: NFG) $1.7 $1.74 2.35% Abbott Laboratories (Symbol: ABT) $1.2 $1.36 13.33% These five stocks are part of our full Dividend Aristocrats List. | New Jersey Resources Corp (Symbol: NJR) $31.58 $40.67 28.77% UGI Corp. (Symbol: UGI) $32.21 $41.25 28.07% AFLAC Inc (Symbol: AFL) $36.79 $45.80 24.49% National Fuel Gas Co. (Symbol: NFG) $41.33 $47.67 15.33% Abbott Laboratories (Symbol: ABT) $90.90 $103.75 14.14% 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. New Jersey Resources Corp (Symbol: NJR) 3.96% 28.77% 32.73% UGI Corp. (Symbol: UGI) 4.10% 28.07% 32.17% AFLAC Inc (Symbol: AFL) 3.04% 24.49% 27.53% National Fuel Gas Co. (Symbol: NFG) 4.31% 15.33% 19.64% Abbott Laboratories (Symbol: ABT) 1.58% 14.14% 15.72% Another consideration with dividend growth stocks is just how much the dividend is growing. New Jersey Resources Corp (Symbol: NJR) $1.172 $1.252 6.83% UGI Corp. (Symbol: UGI) $1.08 $1.305 20.83% AFLAC Inc (Symbol: AFL) $1.06 $1.1 3.77% National Fuel Gas Co. (Symbol: NFG) $1.7 $1.74 2.35% Abbott Laboratories (Symbol: ABT) $1.2 $1.36 13.33% These five stocks are part of our full Dividend Aristocrats List. |
32581.0 | 2020-06-17 00:00:00 UTC | Notable ETF Inflow Detected - VHT, ABT, DHR, CI | ABT | https://www.nasdaq.com/articles/notable-etf-inflow-detected-vht-abt-dhr-ci-2020-06-17 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Health Care ETF (Symbol: VHT) where we have detected an approximate $307.5 million dollar inflow -- that's a 2.9% increase week over week in outstanding units (from 54,580,656 to 56,182,689). Among the largest underlying components of VHT, in trading today Abbott Laboratories (Symbol: ABT) is up about 0.5%, Danaher Corp (Symbol: DHR) is up about 0.9%, and Cigna Corp (Symbol: CI) is lower by about 0.7%. For a complete list of holdings, visit the VHT Holdings page » The chart below shows the one year price performance of VHT, versus its 200 day moving average:
Looking at the chart above, VHT's low point in its 52 week range is $138.11 per share, with $198.675 as the 52 week high point — that compares with a last trade of $191.60. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of VHT, in trading today Abbott Laboratories (Symbol: ABT) is up about 0.5%, Danaher Corp (Symbol: DHR) is up about 0.9%, and Cigna Corp (Symbol: CI) is lower by about 0.7%. For a complete list of holdings, visit the VHT Holdings page » The chart below shows the one year price performance of VHT, versus its 200 day moving average: Looking at the chart above, VHT's low point in its 52 week range is $138.11 per share, with $198.675 as the 52 week high point — that compares with a last trade of $191.60. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of VHT, in trading today Abbott Laboratories (Symbol: ABT) is up about 0.5%, Danaher Corp (Symbol: DHR) is up about 0.9%, and Cigna Corp (Symbol: CI) is lower by about 0.7%. For a complete list of holdings, visit the VHT Holdings page » The chart below shows the one year price performance of VHT, versus its 200 day moving average: Looking at the chart above, VHT's low point in its 52 week range is $138.11 per share, with $198.675 as the 52 week high point — that compares with a last trade of $191.60. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ». | Among the largest underlying components of VHT, in trading today Abbott Laboratories (Symbol: ABT) is up about 0.5%, Danaher Corp (Symbol: DHR) is up about 0.9%, and Cigna Corp (Symbol: CI) is lower by about 0.7%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Health Care ETF (Symbol: VHT) where we have detected an approximate $307.5 million dollar inflow -- that's a 2.9% increase week over week in outstanding units (from 54,580,656 to 56,182,689). For a complete list of holdings, visit the VHT Holdings page » The chart below shows the one year price performance of VHT, versus its 200 day moving average: Looking at the chart above, VHT's low point in its 52 week range is $138.11 per share, with $198.675 as the 52 week high point — that compares with a last trade of $191.60. | Among the largest underlying components of VHT, in trading today Abbott Laboratories (Symbol: ABT) is up about 0.5%, Danaher Corp (Symbol: DHR) is up about 0.9%, and Cigna Corp (Symbol: CI) is lower by about 0.7%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Health Care ETF (Symbol: VHT) where we have detected an approximate $307.5 million dollar inflow -- that's a 2.9% increase week over week in outstanding units (from 54,580,656 to 56,182,689). For a complete list of holdings, visit the VHT Holdings page » The chart below shows the one year price performance of VHT, versus its 200 day moving average: Looking at the chart above, VHT's low point in its 52 week range is $138.11 per share, with $198.675 as the 52 week high point — that compares with a last trade of $191.60. |
32582.0 | 2020-06-16 00:00:00 UTC | Abbott's FreeStyle Libre System Reduces Diabetic Ketoacidosis-Related Hospitalization Rates | ABT | https://www.nasdaq.com/articles/abbotts-freestyle-libre-system-reduces-diabetic-ketoacidosis-related-hospitalization-rates | nan | nan | (RTTNews) - Abbott (ABT) announced results from multiple new real-world studies that demonstrate how use of the FreeStyle Libre system, the world-leading5 continuous glucose monitoring technology, can lead to significant clinical benefits among people living with type 1 and type 2 diabetes.
The findings showed that using the FreeStyle Libre technology is associated with substantial reductions in hospitalizations from diabetic ketoacidosis, a serious condition that can lead to diabetic coma or even death.
The results also showed a decrease in rates of acute diabetes events (ADE) and all-cause hospitalizations as well as lowered and sustained hemoglobin A1c (HbA1C) levels.
In the study, researchers assessed nationwide reimbursement claims data in France of 74,158 people living with diabetes, including 33,203 people with type 1 diabetes and 40,955 people with type 2 diabetes.
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 results from multiple new real-world studies that demonstrate how use of the FreeStyle Libre system, the world-leading5 continuous glucose monitoring technology, can lead to significant clinical benefits among people living with type 1 and type 2 diabetes. The findings showed that using the FreeStyle Libre technology is associated with substantial reductions in hospitalizations from diabetic ketoacidosis, a serious condition that can lead to diabetic coma or even death. The results also showed a decrease in rates of acute diabetes events (ADE) and all-cause hospitalizations as well as lowered and sustained hemoglobin A1c (HbA1C) levels. | (RTTNews) - Abbott (ABT) announced results from multiple new real-world studies that demonstrate how use of the FreeStyle Libre system, the world-leading5 continuous glucose monitoring technology, can lead to significant clinical benefits among people living with type 1 and type 2 diabetes. The findings showed that using the FreeStyle Libre technology is associated with substantial reductions in hospitalizations from diabetic ketoacidosis, a serious condition that can lead to diabetic coma or even death. In the study, researchers assessed nationwide reimbursement claims data in France of 74,158 people living with diabetes, including 33,203 people with type 1 diabetes and 40,955 people with type 2 diabetes. | (RTTNews) - Abbott (ABT) announced results from multiple new real-world studies that demonstrate how use of the FreeStyle Libre system, the world-leading5 continuous glucose monitoring technology, can lead to significant clinical benefits among people living with type 1 and type 2 diabetes. In the study, researchers assessed nationwide reimbursement claims data in France of 74,158 people living with diabetes, including 33,203 people with type 1 diabetes and 40,955 people with type 2 diabetes. 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 results from multiple new real-world studies that demonstrate how use of the FreeStyle Libre system, the world-leading5 continuous glucose monitoring technology, can lead to significant clinical benefits among people living with type 1 and type 2 diabetes. The findings showed that using the FreeStyle Libre technology is associated with substantial reductions in hospitalizations from diabetic ketoacidosis, a serious condition that can lead to diabetic coma or even death. The results also showed a decrease in rates of acute diabetes events (ADE) and all-cause hospitalizations as well as lowered and sustained hemoglobin A1c (HbA1C) levels. |
32583.0 | 2020-06-16 00:00:00 UTC | FOCUS-U.S. health insurers may balk at paying for coronavirus antibody testing | ABT | https://www.nasdaq.com/articles/focus-u.s.-health-insurers-may-balk-at-paying-for-coronavirus-antibody-testing-2020-06-16 | nan | nan | By Caroline Humer
NEW YORK, June 16 (Reuters) - U.S. health insurers may balk at covering tests that look for coronavirus antibodies in some cases, arguing that employers or the government should foot a bill expected to run into billions of dollars.
Health insurers have largely escaped the economic pain wrought by the pandemic. Their profits increased as many Americans delayed more routine and expensive medical care during the recent lockdown period, while the total cost of covering COVID-19 patients has been less than expected in many regions with low case numbers.
Now the industry is tallying up the potential cost of expanding both diagnostic and antibody testing, seen as a critically important component of safely reopening businesses across the country. Diagnostic tests determine if someone is currently infected and contagious, while the antibody, or serology, tests show whether someone was previously infected and possibly immune.
Wall Street firm Jefferies & Co estimates a need for hundreds of millions of antibody tests in the next 18 months, accounting for about one-quarter of an anticipated $15 billion in U.S. COVID-19 test spending through the end of 2021.
In pushing back, health insurers draw lines between what they deem as medically necessary tests, and those done for research or return-to-work purposes.
Businesses may require repeat testing of employees, and they note that private health insurance covers only about half of Americans. The government needs to provide guidance on the role of insurers, employers and public health officials, insurers say.
"It is also critical that these strategies consider related funding in that context,” Kristine Grow, spokeswoman for America’s Health Insurance Plans said in a statement. AHIP estimates antibody testing will cost the United States as much as $19 billion a year.
The biggest national insurers including UnitedHealth Group Inc UNH.N, CVS Health Corp's CVS.N Aetna unit and Cigna Corp CI.N have policies to cover the tests, which cost around $50, and related appointment fees, when doctors say they are medically necessary. Others, such as Blue Cross of Idaho, say they will not cover the tests to help determine the prevalence of the disease in a community, which officials see as necessary for controlling subsequent outbreaks.
Doctors’ groups and diagnostics makers say broad serology testing is an important component of understanding COVID-19 and the level and length of immunity prior infection confers.
AdvaMedDX, a trade group that represents test makers including Roche Holding AG ROG.S and Abbott Laboratories ABT.N, expects about 94 million laboratory-based tests to be shipped by the end of June. It has sent letters to Blue Cross of Idaho and Blue Cross & Blue Shield of Mississippi telling them their policies do not align with the law. Neither company responded to a request for comment.
“Clinicians really need at their disposal the full range of COVID-19 testing,” said Susan Van Meter, executive director of AdvaMedDX.
The U.S. Congress passed legislation calling for health insurance coverage for COVID-19 testing to cope with a pandemic that has killed more than 115,000 people and infected over 2 million nationwide. The federal government set aside $26 billion at the beginning of May for coronavirus testing, much of which was earmarked for government health agencies, states and research and development.
The U.S. Centers for Disease Control and Prevention has since instructed Americans not to assume a positive antibody test means they are immune from future infection, and to continue physical distancing and use of masks until there is more evidence around immunity.
LIMITING USE
Covering only tests insurers see as medically necessary could limit them to people who either have symptoms of COVID-19 or been in close contact with someone who has. They may also cover testing for recovered COVID-19 patients who want to donate antibody-rich plasma for treatment of others or for children with a rare coronavirus-related complication.
The uncertainty around coverage of tests for other purposes is slowing a return to business for Andrew Matta, who runs the North American Dental Group.
The group has 200 affiliated locations in about 15 states, including New York, Georgia and Texas, with more than 1 million patients. It is working with a physician’s group that orders both a diagnostic and serology test ahead of dental procedures. The patient then has a blood draw at the dentist's office, and returns three days later for the procedure.
Dental patients are starting to return with basic safety protocols in place, but Matta expects testing to help reassure customers more wary of coronavirus exposure.
Insurers have been noncommittal about whether they will cover the cost of that testing, or whether patients will end up being billed by the testing lab, he said.
“If we knew these would be covered for pre-procedures, we would be scaling it rapidly right now,” Matta said.
Sabrina Corlette, a health policy professor at Georgetown University, had been advocating for private insurers to pay for these tests broadly. She now says there should be a separate government-run fund for testing to make sure patients – insured or uninsured - can easily get the tests they need.
“If people fear they are going to face hundreds of dollars in bills, they are not going to get tested," Corlette said, "and it's a risk not just to them, but to everybody around them.”
(Reporting by Caroline Humer; editing by Michele Gershberg and Bill Berkrot)
((caroline.humer@thomsonreuters.com; +1 646 223 6181; Reuters Messaging: caroline.humer.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. | AdvaMedDX, a trade group that represents test makers including Roche Holding AG ROG.S and Abbott Laboratories ABT.N, expects about 94 million laboratory-based tests to be shipped by the end of June. By Caroline Humer NEW YORK, June 16 (Reuters) - U.S. health insurers may balk at covering tests that look for coronavirus antibodies in some cases, arguing that employers or the government should foot a bill expected to run into billions of dollars. Their profits increased as many Americans delayed more routine and expensive medical care during the recent lockdown period, while the total cost of covering COVID-19 patients has been less than expected in many regions with low case numbers. | AdvaMedDX, a trade group that represents test makers including Roche Holding AG ROG.S and Abbott Laboratories ABT.N, expects about 94 million laboratory-based tests to be shipped by the end of June. By Caroline Humer NEW YORK, June 16 (Reuters) - U.S. health insurers may balk at covering tests that look for coronavirus antibodies in some cases, arguing that employers or the government should foot a bill expected to run into billions of dollars. The biggest national insurers including UnitedHealth Group Inc UNH.N, CVS Health Corp's CVS.N Aetna unit and Cigna Corp CI.N have policies to cover the tests, which cost around $50, and related appointment fees, when doctors say they are medically necessary. | AdvaMedDX, a trade group that represents test makers including Roche Holding AG ROG.S and Abbott Laboratories ABT.N, expects about 94 million laboratory-based tests to be shipped by the end of June. By Caroline Humer NEW YORK, June 16 (Reuters) - U.S. health insurers may balk at covering tests that look for coronavirus antibodies in some cases, arguing that employers or the government should foot a bill expected to run into billions of dollars. The biggest national insurers including UnitedHealth Group Inc UNH.N, CVS Health Corp's CVS.N Aetna unit and Cigna Corp CI.N have policies to cover the tests, which cost around $50, and related appointment fees, when doctors say they are medically necessary. | AdvaMedDX, a trade group that represents test makers including Roche Holding AG ROG.S and Abbott Laboratories ABT.N, expects about 94 million laboratory-based tests to be shipped by the end of June. By Caroline Humer NEW YORK, June 16 (Reuters) - U.S. health insurers may balk at covering tests that look for coronavirus antibodies in some cases, arguing that employers or the government should foot a bill expected to run into billions of dollars. AHIP estimates antibody testing will cost the United States as much as $19 billion a year. |
32584.0 | 2020-06-15 00:00:00 UTC | Is Thermo Fisher Scientific a Buy? | ABT | https://www.nasdaq.com/articles/is-thermo-fisher-scientific-a-buy-2020-06-15 | nan | nan | Thermo Fisher Scientific (NYSE: TMO) has been one of the more stable investments on the markets this year. The healthcare company's stock is down about 4% in 2020, less than the S&P 500's 6% decline. With the U.S. Food and Drug Administration (FDA) granting emergency use authorization (EUA) for the company's COVID-19 test, this could be one of the few stocks that's a good buy both during and after the pandemic. Let's take a closer look at the stock to see whether you should consider adding Thermo Fisher to your portfolio today.
COVID-19 has had mixed results on the company's financials thus far
Thermo Fisher released its first-quarter fiscal 2020 results on April 22. In Q1, there wasn't a whole lot of growth for the company, as sales were up just 1.7% from the prior-year period.
On Thermo Fisher's earnings call, Senior Vice President and CFO Stephen Williamson noted that the company has seen both headwinds and tailwinds from the pandemic. While it has benefited from additional research and testing for the coronavirus, it has also seen sales slow down as some customers have been unable to work. Williamson estimates that the overall impact on the company's financials was a bit of a loss, costing it about 3% worth of sales growth for the quarter.
Image source: Getty Images.
The company still reported a positive net income figure of $788 million, down 3.3% from the $815 million Thermo Fisher reported during the same quarter a year ago.
Will these trends continue?
It's hard to predict the impact that COVID-19 will have on Thermo Fisher -- whether it will remain a net negative to the company's financials, or whether that will change as cities begin to reopen.
On May 12, the FDA expanded the EUA it granted Thermo Fisher's COVID-19 tests, which will result in more throughput and more labs running the tests. CEO Marc N. Casper stated, "With this expanded authorization, additional instrumentation can be brought online in labs around the world and the number of tests they can run will increase, which will help to support the need for more testing as people start returning to work."
The FDA gave EUA approval to the company's Applied Biosystems TaqPath COVID-19 Combo Kit back in March, expanded it in April, and expanded it again in May. Thermo Fisher is also working with WuXi Diagnostics and the Mayo Clinic to develop an antibodies test that will determine exposure to the coronavirus.
Thermo Fisher's role in COVID-19 will boost its sales in future periods as the need for quick and reliable testing increases during city reopenings. But it's difficult to determine how much more revenue that will generate and whether it will be enough to offset possible declines in its core business.
One reason: Thermo Fisher is not the only option for testing. Abbott Laboratories (NYSE: ABT) and Roche Holding (OTC: RHHBY) are some of the bigger names involved in COVID-19 testing that have received EUA for their tests.
Overall, it's likely that COVID-19 tests will give Thermo Fisher an influx of sales, but it's not clear whether that will outweigh the headwinds from an economic recession, particularly one in which people will likely defer testing that's not absolutely necessary.
In the second quarter, investors should get a better idea of what the net impact may be over a longer period.
Is the stock investable without a positive impact from COVID-19?
Without a net tailwind from COVID-19, investors may wonder if there's any reason to buy the stock. If it's no better off as a result of the added testing from the coronavirus, then Thermo Fisher is essentially the stock it was before COVID-19: one of low growth. But that's also arguably how investors should look at the stock, since any boost from COVID-19 wouldn't be likely to last for long.
With and without COVID-19, Thermo Fisher has been a profitable company. Its margins for eight straight quarters have been at least 12% or higher. Unfortunately, during that time, there has also been limited growth, as quarterly sales have remained within a range of $5.9 billion to $6.8 billion.
Its organic sales growth may take a hit over the near term, given that millions of Americans are out of work and have lost healthcare coverage. There could be less demand for testing as patients look to keep costs down during a recessionary period. That may not bode well for the company and will likely weigh down its sales numbers, at least over the short term.
For growth investors, there needs to be a net positive effect from COVID-19 to make this stock an attractive investment opportunity.
Should you buy Thermo Fisher?
It's not clear whether Thermo Fisher's organic business may suffer from fewer people having healthcare coverage. Without much in the way of growth, it's a question of whether the stock is a good value buy and if its dividend can tip the scales.
Unfortunately, with a dividend yield of just 0.25%, investors looking for recurring income aren't going to rush out to buy shares of Thermo Fisher. The average S&P 500 stock offers a much higher payout of 2% per year. Investing in the index will give investors much more diversification.
From a valuation perspective, there's also little reason to buy the stock, as it's not far from its 52-week high of more than $356. It's currently trading at more than 38 times earnings and about 5 times its book value. Those are hefty multiples for a stock that may see limited future revenue growth.
Overall, there's just not a compelling reason to invest in Thermo Fisher's stock today. There are better healthcare stocks out there that pay better dividends or offer more growth.
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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) and Roche Holding (OTC: RHHBY) are some of the bigger names involved in COVID-19 testing that have received EUA for their tests. With the U.S. Food and Drug Administration (FDA) granting emergency use authorization (EUA) for the company's COVID-19 test, this could be one of the few stocks that's a good buy both during and after the pandemic. On Thermo Fisher's earnings call, Senior Vice President and CFO Stephen Williamson noted that the company has seen both headwinds and tailwinds from the pandemic. | Abbott Laboratories (NYSE: ABT) and Roche Holding (OTC: RHHBY) are some of the bigger names involved in COVID-19 testing that have received EUA for their tests. The company still reported a positive net income figure of $788 million, down 3.3% from the $815 million Thermo Fisher reported during the same quarter a year ago. On May 12, the FDA expanded the EUA it granted Thermo Fisher's COVID-19 tests, which will result in more throughput and more labs running the tests. | Abbott Laboratories (NYSE: ABT) and Roche Holding (OTC: RHHBY) are some of the bigger names involved in COVID-19 testing that have received EUA for their tests. If it's no better off as a result of the added testing from the coronavirus, then Thermo Fisher is essentially the stock it was before COVID-19: one of low growth. 10 stocks we like better than Thermo Fisher Scientific When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | Abbott Laboratories (NYSE: ABT) and Roche Holding (OTC: RHHBY) are some of the bigger names involved in COVID-19 testing that have received EUA for their tests. On May 12, the FDA expanded the EUA it granted Thermo Fisher's COVID-19 tests, which will result in more throughput and more labs running the tests. Without a net tailwind from COVID-19, investors may wonder if there's any reason to buy the stock. |
32585.0 | 2020-06-15 00:00:00 UTC | U.S. FDA clears version 2.0 of Abbott's low-cost glucose monitor | ABT | https://www.nasdaq.com/articles/u.s.-fda-clears-version-2.0-of-abbotts-low-cost-glucose-monitor-2020-06-15-0 | nan | nan | By Manas Mishra and Mrinalika Roy
June 15 (Reuters) - The U.S. Food and Drug Administration on Monday cleared a new version of Abbott Laboratories' ABT.N continuous glucose monitoring device, FreeStyle Libre, helping the company build upon the success of its fastest-growing diabetes product.
FreeStyle Libre 2, which was approved in Europe in 2018, will be priced the same as its precursor and is offered at a discount compared to rival devices, Abbott said.
The first generation of the device, which has brought in millions in sales for Abbott, allows diabetics to track their blood sugar levels without multiple daily finger sticks. It was launched in Europe in 2014 and three years later in the U.S.
Each sensor of the device, worn at the back of the upper arm for 14 days, is available at a list price of $54, while the handheld reader, used to scan the sensor, will be available for a one-time cost of $70.
Commercially-insured patients will pay about $10 out-of-pocket per month for two sensors.
Worldwide sales of the Freestyle Libre device rose 58.5% to $534 million in the fourth quarter of 2019. The company last year said it planned to ramp up manufacturing capacity for the device by three to five times in the next few years.
FreeStyle Libre 2 would be produced on the same manufacturing lines as the first version, Jared Watkin, Abbott's senior vice president for diabetes care said.
(Reporting by Manas Mishra in Bengaluru; Editing by Shounak Dasgupta)
((Manas.Mishra@thomsonreuters.com; www.twitter.com/Manasmishra24; within U.S. +1 646 223 8780, outside U.S. +91 806749 2709))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Manas Mishra and Mrinalika Roy June 15 (Reuters) - The U.S. Food and Drug Administration on Monday cleared a new version of Abbott Laboratories' ABT.N continuous glucose monitoring device, FreeStyle Libre, helping the company build upon the success of its fastest-growing diabetes product. The first generation of the device, which has brought in millions in sales for Abbott, allows diabetics to track their blood sugar levels without multiple daily finger sticks. FreeStyle Libre 2 would be produced on the same manufacturing lines as the first version, Jared Watkin, Abbott's senior vice president for diabetes care said. | By Manas Mishra and Mrinalika Roy June 15 (Reuters) - The U.S. Food and Drug Administration on Monday cleared a new version of Abbott Laboratories' ABT.N continuous glucose monitoring device, FreeStyle Libre, helping the company build upon the success of its fastest-growing diabetes product. The first generation of the device, which has brought in millions in sales for Abbott, allows diabetics to track their blood sugar levels without multiple daily finger sticks. Worldwide sales of the Freestyle Libre device rose 58.5% to $534 million in the fourth quarter of 2019. | By Manas Mishra and Mrinalika Roy June 15 (Reuters) - The U.S. Food and Drug Administration on Monday cleared a new version of Abbott Laboratories' ABT.N continuous glucose monitoring device, FreeStyle Libre, helping the company build upon the success of its fastest-growing diabetes product. FreeStyle Libre 2, which was approved in Europe in 2018, will be priced the same as its precursor and is offered at a discount compared to rival devices, Abbott said. It was launched in Europe in 2014 and three years later in the U.S. Each sensor of the device, worn at the back of the upper arm for 14 days, is available at a list price of $54, while the handheld reader, used to scan the sensor, will be available for a one-time cost of $70. | By Manas Mishra and Mrinalika Roy June 15 (Reuters) - The U.S. Food and Drug Administration on Monday cleared a new version of Abbott Laboratories' ABT.N continuous glucose monitoring device, FreeStyle Libre, helping the company build upon the success of its fastest-growing diabetes product. The first generation of the device, which has brought in millions in sales for Abbott, allows diabetics to track their blood sugar levels without multiple daily finger sticks. It was launched in Europe in 2014 and three years later in the U.S. Each sensor of the device, worn at the back of the upper arm for 14 days, is available at a list price of $54, while the handheld reader, used to scan the sensor, will be available for a one-time cost of $70. |
32586.0 | 2020-06-15 00:00:00 UTC | U.S. FDA clears version 2.0 of Abbott's low-cost glucose monitor | ABT | https://www.nasdaq.com/articles/u.s.-fda-clears-version-2.0-of-abbotts-low-cost-glucose-monitor-2020-06-15 | nan | nan | June 15 (Reuters) - The U.S. Food and Drug Administration on Monday cleared a new version of Abbott Laboratories' ABT.N continuous glucose monitoring device.
FreeStyle Libre 2, which was approved in Europe in 2018, will be priced the same as its precursor and is offered at a discount compared to rival devices, Abbott said.
(Reporting by Manas Mishra in Bengaluru; Editing by Shounak Dasgupta)
((Manas.Mishra@thomsonreuters.com; www.twitter.com/Manasmishra24; within U.S. +1 646 223 8780, outside U.S. +91 806749 2709))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | June 15 (Reuters) - The U.S. Food and Drug Administration on Monday cleared a new version of Abbott Laboratories' ABT.N continuous glucose monitoring device. FreeStyle Libre 2, which was approved in Europe in 2018, will be priced the same as its precursor and is offered at a discount compared to rival devices, Abbott said. (Reporting by Manas Mishra in Bengaluru; Editing by Shounak Dasgupta) ((Manas.Mishra@thomsonreuters.com; www.twitter.com/Manasmishra24; within U.S. +1 646 223 8780, outside U.S. +91 806749 2709)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | June 15 (Reuters) - The U.S. Food and Drug Administration on Monday cleared a new version of Abbott Laboratories' ABT.N continuous glucose monitoring device. FreeStyle Libre 2, which was approved in Europe in 2018, will be priced the same as its precursor and is offered at a discount compared to rival devices, Abbott said. (Reporting by Manas Mishra in Bengaluru; Editing by Shounak Dasgupta) ((Manas.Mishra@thomsonreuters.com; www.twitter.com/Manasmishra24; within U.S. +1 646 223 8780, outside U.S. +91 806749 2709)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | June 15 (Reuters) - The U.S. Food and Drug Administration on Monday cleared a new version of Abbott Laboratories' ABT.N continuous glucose monitoring device. FreeStyle Libre 2, which was approved in Europe in 2018, will be priced the same as its precursor and is offered at a discount compared to rival devices, Abbott said. (Reporting by Manas Mishra in Bengaluru; Editing by Shounak Dasgupta) ((Manas.Mishra@thomsonreuters.com; www.twitter.com/Manasmishra24; within U.S. +1 646 223 8780, outside U.S. +91 806749 2709)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | June 15 (Reuters) - The U.S. Food and Drug Administration on Monday cleared a new version of Abbott Laboratories' ABT.N continuous glucose monitoring device. FreeStyle Libre 2, which was approved in Europe in 2018, will be priced the same as its precursor and is offered at a discount compared to rival devices, Abbott said. (Reporting by Manas Mishra in Bengaluru; Editing by Shounak Dasgupta) ((Manas.Mishra@thomsonreuters.com; www.twitter.com/Manasmishra24; within U.S. +1 646 223 8780, outside U.S. +91 806749 2709)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
32587.0 | 2020-06-14 00:00:00 UTC | 3 Top Dividend Stocks to Buy Right Now | ABT | https://www.nasdaq.com/articles/3-top-dividend-stocks-to-buy-right-now-2020-06-14 | nan | nan | It's an interesting time in the stock markets to say the least. The S&P 500 is up 9% in the past three months, nearly making up for the crash that happened in March.
Despite millions of Americans losing their jobs due to the COVID-19 pandemic and resulting lockdowns, there's a lot of bullishness in the markets -- perhaps too much. The possibility of another market crash lurks around the corner, and for concerned investors now may be the time to add some top dividend stocks into your portfolio for safety. Below are three excellent ones that look like solid buys right now.
1. Abbott Laboratories
Abbott Laboratories (NYSE: ABT) is up about 13% in three months, but its valuation hasn't taken off like many other stocks have during that time. What makes the healthcare company a top dividend stock is that not only has Abbott paid dividends since 1924 without missing a beat but it's also increased its dividend payments for 48 years in a row, making it a Dividend Aristocrat.
Its most recent increase occurred this year, when its payments rose from $0.32 every quarter to $0.36, for a bump up of 12.5%. Currently, the stock's dividend yield is 1.6% -- a bit less than the S&P 500 average of 2%. But what investors lose with dividend yield they'll make up with stability.
Image source: Getty Images.
The Illinois-based company is one of the better buys during the pandemic as its ID NOW test has already been distributed to millions of people. It came under fire last month when a New York University study suggested that the test wasn't as accurate in detecting COVID-19 as other tests. The study claimed Abbott's test was missing 48% of positive cases.
However, since then, the Texas Cardiac Arrhythmia Institute did its own testing of ID NOW and found that Abbott's tests were accurate, showing a 97.8% correlation with positive COVID-19 results when compared with other laboratory platforms. And it had a 100% correlation for specimens that came back negative.
Abbott Labs' top line could get a much-needed boost from the ID NOW tests. In the company's first-quarter results of 2020, which were released on April 16, sales were up a modest 2.5%. That's down from 2019, when its sales growth was 4.3%. But the good news for dividend investors is that, for nine straight quarters, the company's recorded a positive net income figure while also generating strong free cash flow. However, the company stated in its Q1 results that it was unable to predict the impact COVID-19 will have on its financials moving forward.
Despite the uncertainty, Abbott's still one of the best dividend stocks you can have in your portfolio today. With its strong financials and an incredible track record for paying and increasing dividends, investors don't have to worry too much about this stock and its payouts.
2. Target
Target (NYSE: TGT) is similar to Abbott in that not only does the stock have a long history of paying dividends but it's a good buy during the pandemic. When the company released its first-quarter earnings on May 20, Target reported comparable sales growth of 10.8%. This was due to customers making larger purchases and stockpiling during the pandemic. It's a great sign of the company's resiliency and the trust consumers have in the Target brand. Target boasts online ordering pick up at its stores and has purchased several delivery start-ups that allow it to ship orders -- initiatives that have been very valuable during lockdowns.
It's a significant improvement from the company's most recent fiscal year, where sales were up just 3.7%. Like Abbott, Target's been consistently stable, generating profits in each of its last 10 quarterly results.
The retailer's done so well that it comes as no surprise that it announced on June 11 it would be increasing its dividend payments for the 49th year in a row. Shareholders will now be receiving dividends of $0.68 every quarter, an increase of 3% from the $0.66 that the Minnesota-based company was previously paying. Currently, the stock's now providing investors with a dividend yield of 2.3%.
With the stock doing well during the pandemic, Target's an easy option for dividend investors to earn an above-average payout without taking too much risk.
3. AT&T
AT&T (NYSE: T) is another aristocrat that investors may want to add to their portfolios. The telecom giant last increased its dividend payments in December, when it hiked them by 2%, from $0.51 to $0.52. It was the 36th year in a row that AT&T had increased its dividend payments. Currently, the stock's dividend yield is 6.5% -- making it the highest payout on this list.
However, the stock isn't risk-free: In its first-quarter results released on April 22, the company stated that the COVID-19 pandemic cost it approximately $435 million worth of earnings before interest, taxes, depreciation, and amortization (EBITDA). Thus, the Texas-based company has had to shut down retail stores, which has impacted its top and bottom lines.
But with cities already starting to reopen, the worst may be over for AT&T. Although sales were down 4.6% year over year, the company still reported a profit in Q1, as it has in each of its last 10 quarters.
It's a stable stock and so too is its dividend, making it one of the better buys right now.
Which stock is the best of the three listed here?
Here's a quick look at how all three stocks have done this year compared with the S&P 500:
Image Source: YCharts
Only Abbott has outperformed the S&P 500 so far this year, but any one of these three stocks are great long-term buys.
AT&T's attractive yield definitely sets the company apart from its peers and would be my choice today. Consumers will continue to need telecom services whether there's a pandemic or not. And with the launch of HBO Max in May, it could lead to even more growth for the company in the years ahead as it looks to win back some cord-cutters. There's a lot to like about AT&T's stock, and that's why it gets the edge over the other companies on this list.
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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 Abbott Laboratories (NYSE: ABT) is up about 13% in three months, but its valuation hasn't taken off like many other stocks have during that time. The possibility of another market crash lurks around the corner, and for concerned investors now may be the time to add some top dividend stocks into your portfolio for safety. But the good news for dividend investors is that, for nine straight quarters, the company's recorded a positive net income figure while also generating strong free cash flow. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) is up about 13% in three months, but its valuation hasn't taken off like many other stocks have during that time. When the company released its first-quarter earnings on May 20, Target reported comparable sales growth of 10.8%. However, the stock isn't risk-free: In its first-quarter results released on April 22, the company stated that the COVID-19 pandemic cost it approximately $435 million worth of earnings before interest, taxes, depreciation, and amortization (EBITDA). | Abbott Laboratories Abbott Laboratories (NYSE: ABT) is up about 13% in three months, but its valuation hasn't taken off like many other stocks have during that time. What makes the healthcare company a top dividend stock is that not only has Abbott paid dividends since 1924 without missing a beat but it's also increased its dividend payments for 48 years in a row, making it a Dividend Aristocrat. Here's a quick look at how all three stocks have done this year compared with the S&P 500: Image Source: YCharts Only Abbott has outperformed the S&P 500 so far this year, but any one of these three stocks are great long-term buys. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) is up about 13% in three months, but its valuation hasn't taken off like many other stocks have during that time. What makes the healthcare company a top dividend stock is that not only has Abbott paid dividends since 1924 without missing a beat but it's also increased its dividend payments for 48 years in a row, making it a Dividend Aristocrat. Although sales were down 4.6% year over year, the company still reported a profit in Q1, as it has in each of its last 10 quarters. |
32588.0 | 2020-06-13 00:00:00 UTC | Abbott : Data Shows FreeStyle Libre System Reduces HbA1C Levels In Type 2 Diabetes People | ABT | https://www.nasdaq.com/articles/abbott-%3A-data-shows-freestyle-libre-system-reduces-hba1c-levels-in-type-2-diabetes-people | nan | nan | (RTTNews) - Abbott Laboratories {ABT) said that new data showed its continuous glucose monitoring technology, FreeStyle Libre System, significantly reduced HbA1C levels in people with type 2 diabetes using insulin or not.
The results are similar to outcomes typically seen when adding insulin therapy to treatment regimens, indicating people may be able to manage their glucose levels with glucose monitoring technology, technology instead of adding insulin.
The results demonstrated overall lower HbA1c levels associated with the use of Abbott's technology, specifically a 0.8% drop after six months and 0.6% drop after one year of FreeStyle Libre system use - clinically significant reductions of average glucose levels over time toward the ADA's recommended A1c goal of 7% for adults with diabetes.
A separate trial demonstrated FreeStyle Libre portfolio use is associated with significant reductions of acute diabetes events and hospitalizations for a similar population.
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 that new data showed its continuous glucose monitoring technology, FreeStyle Libre System, significantly reduced HbA1C levels in people with type 2 diabetes using insulin or not. The results demonstrated overall lower HbA1c levels associated with the use of Abbott's technology, specifically a 0.8% drop after six months and 0.6% drop after one year of FreeStyle Libre system use - clinically significant reductions of average glucose levels over time toward the ADA's recommended A1c goal of 7% for adults with diabetes. A separate trial demonstrated FreeStyle Libre portfolio use is associated with significant reductions of acute diabetes events and hospitalizations for a similar population. | (RTTNews) - Abbott Laboratories {ABT) said that new data showed its continuous glucose monitoring technology, FreeStyle Libre System, significantly reduced HbA1C levels in people with type 2 diabetes using insulin or not. The results are similar to outcomes typically seen when adding insulin therapy to treatment regimens, indicating people may be able to manage their glucose levels with glucose monitoring technology, technology instead of adding insulin. The results demonstrated overall lower HbA1c levels associated with the use of Abbott's technology, specifically a 0.8% drop after six months and 0.6% drop after one year of FreeStyle Libre system use - clinically significant reductions of average glucose levels over time toward the ADA's recommended A1c goal of 7% for adults with diabetes. | (RTTNews) - Abbott Laboratories {ABT) said that new data showed its continuous glucose monitoring technology, FreeStyle Libre System, significantly reduced HbA1C levels in people with type 2 diabetes using insulin or not. The results are similar to outcomes typically seen when adding insulin therapy to treatment regimens, indicating people may be able to manage their glucose levels with glucose monitoring technology, technology instead of adding insulin. The results demonstrated overall lower HbA1c levels associated with the use of Abbott's technology, specifically a 0.8% drop after six months and 0.6% drop after one year of FreeStyle Libre system use - clinically significant reductions of average glucose levels over time toward the ADA's recommended A1c goal of 7% for adults with diabetes. | (RTTNews) - Abbott Laboratories {ABT) said that new data showed its continuous glucose monitoring technology, FreeStyle Libre System, significantly reduced HbA1C levels in people with type 2 diabetes using insulin or not. The results are similar to outcomes typically seen when adding insulin therapy to treatment regimens, indicating people may be able to manage their glucose levels with glucose monitoring technology, technology instead of adding insulin. The results demonstrated overall lower HbA1c levels associated with the use of Abbott's technology, specifically a 0.8% drop after six months and 0.6% drop after one year of FreeStyle Libre system use - clinically significant reductions of average glucose levels over time toward the ADA's recommended A1c goal of 7% for adults with diabetes. |
32589.0 | 2020-06-13 00:00:00 UTC | Where Will AbbVie Be in 5 Years? | ABT | https://www.nasdaq.com/articles/where-will-abbvie-be-in-5-years-2020-06-13 | nan | nan | American biopharma AbbVie (NYSE: ABBV) is renowned for its blockbuster drug, Humira, which was one of the best-selling drugs of the last 20 years. Since its 2013 separation from Abbott Laboratories (NYSE: ABT), AbbVie's stock has grown more than 160%. And with a dividend yield of 4.9%, AbbVie is quite attractive for investors yearning for returns.
But can AbbVie build momentum for growth, given that its best-selling products face a number of new competitors? What are AbbVie's goals for the next five years, and can it meet them? Will the company's mid-2019 acquisition of Allergan for $63 billion pay off? Do experienced investors think AbbVie's stock is worth buying? Let's find out.
Image source: Getty Images.
AbbVie faces slow growth from 2020 to 2021
The remainder of this year and most of next year will probably not be an exciting time for AbbVie, as several of its established products face headwinds that will diminish sales. The company's curative combination drug for hepatitis C, Mavyret, is the poster child for falling revenue growth.
Since well before it got the green light for use in wider patient populations in 2019, Mavyret has been at risk of diminishing its target patient population to the point where the drug combination is not profitable to produce. In short, Mavyret is curing itself into obsolescence. This means that despite eating some of Gilead Sciences' (NASDAQ: GILD) market share for hepatitis C therapeutics in the lead-up to Solvaldi's revenues collapsing in 2017, AbbVie cannot assume that Mavyret will not meet the same unprofitable fate, especially as its sales started to fall in 2018 and then fell sharply by 15% in 2019. While most of the damage to AbbVie's earnings from declining Mavyret revenues is already done, don't be surprised if there is more pain reported in future earnings.
Elsewhere in its stable of approved drugs, Humira's revenues will continue to ebb as a result of competition from biosimilars created after AbbVie's patent expired in 2016. This is to be expected, as Humira has been on the market since 2002 and was one of the best-selling drugs in the U.S. during the 2010s. In total, AbbVie expects its worldwide revenues for Humira to decrease by as much as 30% in 2020, with markets like Europe experiencing 40% decreases. As of 2019, Humira accounted for around 58% of total net revenues, so earnings reports may be especially grisly for a time. Given that AbbVie has already repeatedly sought and received additional indications for Humira as recently as 2015, it's likely that the drug's earning growth potential will be largely exhausted soon. In summary, AbbVie will need to launch a credible replacement for its declining revenues from Humira in the next five years if it wants to stay stable, never mind continuing to grow.
In terms of the opportunities in the COVID-19 pandemic, it's possible that AbbVie's role in fighting COVID-19 is smaller than that of its competitors. While AbbVie announced last week that it was initiating a new program to develop a monoclonal antibody therapy for COVID-19, it's a relative latecomer to the scene compared to its peers like Pfizer (NYSE: PFE), which plans to have products hitting the market as early as October.
Furthermore, AbbVie's existing roster of antiviral drugs may not generate substantial revenues even if they are found to be effective for COVID-19. In the aftermath of the Israeli government mandating compulsory licensure of AbbVie's anti-HIV drug Kaletra, the company opted to drop its worldwide patent rights for the drug entirely. Later, researchers reported that Kaletra wasn't effective for COVID-19 anyway. If AbbVie does have a role in developing COVID-19 therapeutics or vaccines, it will likely be as a secondary collaborator rather than a leader.
Image Source: YCharts
Will AbbVie's pipeline come to the rescue?
The only way for AbbVie to escape the doldrums will be to forge new collaborations and advance its pipeline programs to build new centers of growth.
Now that it has joined with Allergan, AbbVie has more than 120 pipeline programs, many of which are seeking approval for new indications for its existing drug stable. More than 60 of these programs are in mid- or late clinical trial stages, suggesting that AbbVie has no shortage of candidates to bring to the market in the long term. Of particular promise is the company's first-line treatment for multiple myeloma, Empliciti. If the drug successfully completes its ongoing phase 3 trials, it will be positioned to grab market share from long-entrenched competing products.
Some programs, like the treatment-resistant rheumatoid arthritis drug Rinvoq, are already approved for major indications, so it is reasonable to expect that revenues will continue to ramp up as new indications are added. AbbVie is also pursuing head-to-head comparison trials with competing products so as to take their market share, which may soon start to pay off for its newest drugs.
AbbVie in 2025
AbbVie's next five years will largely be characterized by the company working to transition smoothly from its former high-earning drugs to the revenue sources of tomorrow. To aid the process, it's possible that AbbVie will seek to acquire smaller companies to shore up its clinical-stage pipeline. Before it can make more acquisitions, however, AbbVie will prioritize integrating its resources procured from Allergan, which it purchased for cash and stock in 2019 for $63 billion.
Allergan is known for manufacturing the popular wrinkle-reducer Botox, but it also has a small roster of medical cosmetic products and eye care products both on the market and in active development. While Allergan's pipeline and products on the market do not overlap with AbbVie's current roster, the purchase does give AbbVie a much broader pipeline than it previously had and will also lead to an estimated $2 billion in synergies and cost savings by the third year after the closure of the deal.
AbbVie estimates that purchasing Allergan will lead to an immediate increase of its cashflows by as much as $19 billion. Nonetheless, the market did not initially recieve AbbVie's announcement of the purchase favorably. Once AbbVie's quarterly earnings reports reflect the earnings growth from Allergan's product roster, investors may change their tune.
As part of the Allergan acquisition, AbbVie sought transaction support from Morgan Stanley, which fully underwrote the deal for $38 billion. Subsequently, AbbVie also took on all $24 billion of Allergan's debts, leaving AbbVie with upwards of $67 billion in total debt. AbbVie's leadership claims that the additional revenues from Allergan's products will allow the company to reduce its debt by at least $15 billion by the end of 2021, with further payments throughout 2023 if everything goes as planned.
By 2025, AbbVie will have at least one wholly new drug on the market as well as a handful of newly approved indications for its older drugs. Given the state of the company's pipeline, it is highly likely that the new drug or drugs will compete in the oncology or immunology markets. While it remains unclear whether any of these new drugs have the same blockbuster potential as AbbVie's historical standbys, they will almost certainly allow the company to continue operating profitably and to grow at a slow rate. Nonetheless, AbbVie will also be experiencing tapering revenue growth for the indications it sought in the 2010s for its existing drugs. Likewise, long-standing products like Humira will be of declining importance, with fierce competition largely displacing it from the market.
In summary, AbbVie's next five years may be relatively low-growth, but its long-term growth prospects are still quite favorable, and the company's stable dividend is a good reason to invest. Look to AbbVie's yearly reports to see how effectively the company is handling its transitioning revenue sources, and don't be afraid to hold off on investing in this pharmaceutical stock if there are major delays with its most advanced pipeline projects.
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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. | Since its 2013 separation from Abbott Laboratories (NYSE: ABT), AbbVie's stock has grown more than 160%. This means that despite eating some of Gilead Sciences' (NASDAQ: GILD) market share for hepatitis C therapeutics in the lead-up to Solvaldi's revenues collapsing in 2017, AbbVie cannot assume that Mavyret will not meet the same unprofitable fate, especially as its sales started to fall in 2018 and then fell sharply by 15% in 2019. While AbbVie announced last week that it was initiating a new program to develop a monoclonal antibody therapy for COVID-19, it's a relative latecomer to the scene compared to its peers like Pfizer (NYSE: PFE), which plans to have products hitting the market as early as October. | Since its 2013 separation from Abbott Laboratories (NYSE: ABT), AbbVie's stock has grown more than 160%. This means that despite eating some of Gilead Sciences' (NASDAQ: GILD) market share for hepatitis C therapeutics in the lead-up to Solvaldi's revenues collapsing in 2017, AbbVie cannot assume that Mavyret will not meet the same unprofitable fate, especially as its sales started to fall in 2018 and then fell sharply by 15% in 2019. In total, AbbVie expects its worldwide revenues for Humira to decrease by as much as 30% in 2020, with markets like Europe experiencing 40% decreases. | Since its 2013 separation from Abbott Laboratories (NYSE: ABT), AbbVie's stock has grown more than 160%. AbbVie faces slow growth from 2020 to 2021 The remainder of this year and most of next year will probably not be an exciting time for AbbVie, as several of its established products face headwinds that will diminish sales. AbbVie in 2025 AbbVie's next five years will largely be characterized by the company working to transition smoothly from its former high-earning drugs to the revenue sources of tomorrow. | Since its 2013 separation from Abbott Laboratories (NYSE: ABT), AbbVie's stock has grown more than 160%. Will the company's mid-2019 acquisition of Allergan for $63 billion pay off? This is to be expected, as Humira has been on the market since 2002 and was one of the best-selling drugs in the U.S. during the 2010s. |
32590.0 | 2020-06-12 00:00:00 UTC | Daily Dividend Report: ABT,BMY,CL,AMAT,PKI | ABT | https://www.nasdaq.com/articles/daily-dividend-report%3A-abtbmyclamatpki-2020-06-12 | nan | nan | The board of directors of Abbott today declared a quarterly common dividend of 36 cents per share. This marks the 386th consecutive quarterly dividend to be paid by Abbott since 1924. The cash dividend is payable Aug. 17, 2020, to shareholders of record at the close of business on July 15, 2020. Abbott has increased its dividend payout for 48 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 Bristol Myers Squibb today declared a quarterly dividend of forty-five cents per share on the $.10 par value Common Stock of the corporation. The next quarterly dividend will be payable on August 3, 2020, to stockholders of record at the close of business on July 6, 2020.
The Board of Directors of Colgate-Palmolive today declared a quarterly cash dividend of $0.44 per common share, payable on August 14, 2020, to shareholders of record on July 20, 2020. The Company has paid uninterrupted dividends on its common stock since 1895.
Applied Materials today announced that its Board of Directors has approved a quarterly cash dividend of $0.22 per share payable on the company's common stock. The dividend is payable on Sept. 10, 2020 to shareholders of record as of Aug. 20, 2020. The quarterly cash dividend is a key component of Applied's capital allocation strategy. In the second quarter of fiscal 2020, Applied returned $392 million to shareholders through dividends and share repurchases. The company had approximately $1.5 billion remaining in its share buyback authorization at the end of that period.
Parkland announces that a dividend of $0.1012 per share will be paid on July 15, 2020 to shareholders of record on June 22, 2020. The dividend will be an 'eligible dividend' for Canadian income tax purposes. The ex-dividend date is June 19, 2020.
VIDEO: Daily Dividend Report: ABT,BMY,CL,AMAT,PKI
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,BMY,CL,AMAT,PKI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The Board of Directors of Bristol Myers Squibb today declared a quarterly dividend of forty-five cents per share on the $.10 par value Common Stock of the corporation. The Board of Directors of Colgate-Palmolive today declared a quarterly cash dividend of $0.44 per common share, payable on August 14, 2020, to shareholders of record on July 20, 2020. | VIDEO: Daily Dividend Report: ABT,BMY,CL,AMAT,PKI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The board of directors of Abbott today declared a quarterly common dividend of 36 cents per share. The Board of Directors of Colgate-Palmolive today declared a quarterly cash dividend of $0.44 per common share, payable on August 14, 2020, to shareholders of record on July 20, 2020. | VIDEO: Daily Dividend Report: ABT,BMY,CL,AMAT,PKI 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 48 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 Colgate-Palmolive today declared a quarterly cash dividend of $0.44 per common share, payable on August 14, 2020, to shareholders of record on July 20, 2020. | VIDEO: Daily Dividend Report: ABT,BMY,CL,AMAT,PKI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The Board of Directors of Colgate-Palmolive today declared a quarterly cash dividend of $0.44 per common share, payable on August 14, 2020, to shareholders of record on July 20, 2020. Applied Materials today announced that its Board of Directors has approved a quarterly cash dividend of $0.22 per share payable on the company's common stock. |
32591.0 | 2020-06-11 00:00:00 UTC | Why Sorrento Therapeutics Stock Is Up Today | ABT | https://www.nasdaq.com/articles/why-sorrento-therapeutics-stock-is-up-today-2020-06-11 | nan | nan | What happened?
On Wednesday evening, Sorrento Therapeutics (NASDAQ: SRNE) announced that the Food and Drug Administration was reviewing the company's application for Emergency Use Authorization for its COVID-19 diagnostic test. As a result, Sorrento's shares jumped on Thursday morning and were up by 5.1% as of 12:24 p.m. EDT today.
So what
Testing has been crucial to the efforts to contain the spread of COVID-19, and several companies have managed to create test kits that are highly accurate and easy to use. Sorrento is looking to launch its own COVID-19 test. The biotech company claims that its COVI-TRACK in-vitro diagnostic kit can detect antibodies to the virus that causes COVID-19 in eight minutes or less.
Image source: Getty Images.
Even if approved, though, this test will face stiff competition. Other companies such as Abbott Laboratories (NYSE: ABT) and Roche Holding (OTC: RHHBY) have been providing the public with COVID-19 test kits for several weeks, and some of these tests (like Abbott's ID Now COVID-19 antibody test) can return positive results in as little as five minutes.
Now what
Sorrento has attracted a lot of attention of late. In particular, the company famously claimed that it had a potential cure for COVID-19, an antibody called STI-1499. Shares skyrocketed by more than 100% on this news, but have cooled down significantly since. It seems plausible that Sorrento overplayed its hand in claiming to have found a potential cure for COVID-19, but investors will want to keep an eye on this biotech.
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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. | Other companies such as Abbott Laboratories (NYSE: ABT) and Roche Holding (OTC: RHHBY) have been providing the public with COVID-19 test kits for several weeks, and some of these tests (like Abbott's ID Now COVID-19 antibody test) can return positive results in as little as five minutes. On Wednesday evening, Sorrento Therapeutics (NASDAQ: SRNE) announced that the Food and Drug Administration was reviewing the company's application for Emergency Use Authorization for its COVID-19 diagnostic test. The biotech company claims that its COVI-TRACK in-vitro diagnostic kit can detect antibodies to the virus that causes COVID-19 in eight minutes or less. | Other companies such as Abbott Laboratories (NYSE: ABT) and Roche Holding (OTC: RHHBY) have been providing the public with COVID-19 test kits for several weeks, and some of these tests (like Abbott's ID Now COVID-19 antibody test) can return positive results in as little as five minutes. 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 June 2, 2020 Prosper Junior Bakiny has no position in any of the stocks mentioned. | Other companies such as Abbott Laboratories (NYSE: ABT) and Roche Holding (OTC: RHHBY) have been providing the public with COVID-19 test kits for several weeks, and some of these tests (like Abbott's ID Now COVID-19 antibody test) can return positive results in as little as five minutes. 10 stocks we like better than Sorrento Therapeutics 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 June 2, 2020 Prosper Junior Bakiny has no position in any of the stocks mentioned. | Other companies such as Abbott Laboratories (NYSE: ABT) and Roche Holding (OTC: RHHBY) have been providing the public with COVID-19 test kits for several weeks, and some of these tests (like Abbott's ID Now COVID-19 antibody test) can return positive results in as little as five minutes. Sorrento is looking to launch its own COVID-19 test. That's right -- they think these 10 stocks are even better buys. |
32592.0 | 2020-06-08 00:00:00 UTC | Why Co-Diagnostics Stock Soared 59% in May | ABT | https://www.nasdaq.com/articles/why-co-diagnostics-stock-soared-59-in-may-2020-06-08 | nan | nan | What happened
Co-Diagnostics (NASDAQ: CODX) stock soared 58.7% in May, according to data from S&P Global Market Intelligence. For context, the S&P 500 returned about 4.8% last month.
Shares of the healthcare diagnostics specialist, however, gave back some of May's fat gain during the first week of June. Last week, the stock fell 11.2%, while the S&P 500 was up nearly 5%.
Co-Diagnostics stock remains a massive winner this year. In 2020, it's up 1,690% through Friday, making it nearly an 18-bagger! By comparison, the S&P 500 has almost recovered from its earlier plunge, but is a hair shy of breakeven for the period.
Image source: Getty Images.
So what
We can attribute Co-Diagnostics stock's powerful May performance largely to a continuation of the momentum it's had since mid-April, when the company announced that its Logix Smart COVID-19 testing technology had been validated by OralDNA Labs for use on saliva samples. (OralDNA Labs is certified under Clinical Laboratory Improvement Amendments under the Food and Drug Administration's Emergency Use Authorization program.)
Data by YCharts.
That said, there were also some specific catalysts last month that moved the stock, as the above chart shows.
May 4: Shares popped 11.4% after the company announced that its Logix Smart and Saragene COVID-19 tests were approved in Mexico and India, respectively. The latter test is made by its CoSara joint venture.
May 13: Shares skyrocketed nearly 38%, which we can attribute to what many investors viewed as a potential setback for a competitor's rapid COVID-19 test. A study conducted at New York University's Langone Tisch Hospital found that Abbott Labs' (NYSE: ABT) ID NOW test missed up to 48% of positive results, according to MassDevice.
May 15: Shares gave back their entire May 13 gain. We can probably attribute this at least in part to investors being satisfied with Abbott's May 14 response to the Langone study (that it was "not consistent with other studies"), or at least to many investors believing that sales of Co-Diagnostics' COVID-19 test wouldn't get that significant of a boost from the Abbott news.
Moving our time lens out beyond just one month, here's Co-Diagnostics stock chart for 2020 so far:
Data by YCharts.
Now what
Co-Diagnostics isn't profitable yet. However, Wall Street expects the company to be profitable, at least on an adjusted basis, for the full year. That's due, of course, to its tremendous revenue growth stemming from the COVID-19 pandemic.
In 2020, analysts are modeling for adjusted earnings per share of $2.06 on revenue of $93.5 million. Last year, the company posted a loss of $0.36 per share on sales of $215,000.
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 2021, analysts expect Co-Diagnostics' growth engine to sputter. They're projecting revenue will rise just 7% year over year and earnings will be flat with 2020.
Of course, there's much uncertainty surrounding the pandemic, so a lot can change quickly.
The bottom line is that if you want to invest in the COVID-19 testing space, you should be willing to put in the time required to keep very up to date with developments in this realm.
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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. | A study conducted at New York University's Langone Tisch Hospital found that Abbott Labs' (NYSE: ABT) ID NOW test missed up to 48% of positive results, according to MassDevice. So what We can attribute Co-Diagnostics stock's powerful May performance largely to a continuation of the momentum it's had since mid-April, when the company announced that its Logix Smart COVID-19 testing technology had been validated by OralDNA Labs for use on saliva samples. (OralDNA Labs is certified under Clinical Laboratory Improvement Amendments under the Food and Drug Administration's Emergency Use Authorization program.) | A study conducted at New York University's Langone Tisch Hospital found that Abbott Labs' (NYSE: ABT) ID NOW test missed up to 48% of positive results, according to MassDevice. So what We can attribute Co-Diagnostics stock's powerful May performance largely to a continuation of the momentum it's had since mid-April, when the company announced that its Logix Smart COVID-19 testing technology had been validated by OralDNA Labs for use on saliva samples. Indeed, in 2021, analysts expect Co-Diagnostics' growth engine to sputter. | A study conducted at New York University's Langone Tisch Hospital found that Abbott Labs' (NYSE: ABT) ID NOW test missed up to 48% of positive results, according to MassDevice. So what We can attribute Co-Diagnostics stock's powerful May performance largely to a continuation of the momentum it's had since mid-April, when the company announced that its Logix Smart COVID-19 testing technology had been validated by OralDNA Labs for use on saliva samples. We can probably attribute this at least in part to investors being satisfied with Abbott's May 14 response to the Langone study (that it was "not consistent with other studies"), or at least to many investors believing that sales of Co-Diagnostics' COVID-19 test wouldn't get that significant of a boost from the Abbott news. | A study conducted at New York University's Langone Tisch Hospital found that Abbott Labs' (NYSE: ABT) ID NOW test missed up to 48% of positive results, according to MassDevice. We can probably attribute this at least in part to investors being satisfied with Abbott's May 14 response to the Langone study (that it was "not consistent with other studies"), or at least to many investors believing that sales of Co-Diagnostics' COVID-19 test wouldn't get that significant of a boost from the Abbott news. Moving our time lens out beyond just one month, here's Co-Diagnostics stock chart for 2020 so far: Data by YCharts. |
32593.0 | 2020-06-07 00:00:00 UTC | Better Buy: AbbVie vs. Johnson & Johnson | ABT | https://www.nasdaq.com/articles/better-buy%3A-abbvie-vs.-johnson-johnson-2020-06-07 | nan | nan | AbbVie (NYSE: ABBV) and Johnson & Johnson (NYSE: JNJ) are stalwart companies that are in a lot of investors' portfolios. Analysts almost always preach diversification, and these two healthcare stocks bring balance in their own right.
AbbVie is strictly pharmaceutical, but its recent purchase of Allergan really broadens its pipeline beyond the world's top-selling drug, Humira, which treats many auto-immune disorders. Pharmaceutical sales make up slightly more than half of Johnson & Johnson's revenue with its consumer health and medical devices bringing in the rest of its sales.
There's something to be said for sheer size. AbbVie has 47,000 employees and raked in $33.3 billion of revenue last year. The company anticipates likely revenue of $50 billion a year with Allergan under its wing. Johnson & Johnson has more than 132,000 employees and made $82 billion in revenue in fiscal 2019.
So which of these healthcare giants is a better buy for investors today?
Image Source: Getty Images
The case for Johnson & Johnson
The company is like a tank, rolling over all obstacles in its path. In the past year, it has dealt with opioid-related and talcum powder lawsuits. It stopped making Johnson's Baby Powder last month, citing reduced demand.
The company's first-quarter 2020 numbers show a 3.3% increase in sales, year over year, and a 54.6% rise in net earnings. The company's pharmaceutical and consumer health divisions saw 8.7% and 9.2% revenue increases, respectively.
The Dividend King has increased quarterly dividends for 58 years and recently announced it was raising its quarterly dividend 6.3% to $1.01 a share, a solid yield of 2.73%. The payout ratio is 49.25%, easily sustainable as evidenced by the company's history.
The case for AbbVie
AbbVie boasted more growth recently than Johnson & Johnson and that should accelerate with its purchase of Allergan that was completed in May. In AbbVie's first-quarter report, revenue was $8.6 billion, an increase of 10.1%, year over year. It's still making a lot of money off Humira, nearly 58% of its revenue, despite increased biosimilar competition in Europe. First-quarter Humira numbers were $4.7 billion, up 14.5% reported compared to the same quarter in 2019.
AbbVie's other big sellers inlcude Imbruvica, a cancer drug with $1.2 billion in quarterly net revenues, up 20.6%, compared to the same quarter in 2019. Venclexta, a treatment for adults with chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma (SLL), had net revenues of $317 million. Its plaque psoriasis drug Skyrizi brought in $300 million.
Buying Allergan gives AbbVie Botox, a cash cow that made the former company $1.02 billion in sales in the fourth quarter, with slightly more than 55% of that from therapeutic uses and 45% from cosmetic use. Another former Allergan drug, wrinkle-filler Juvederm, will help with AbbVie's bottom line as well. In the fourth quarter, it brought in $347.3 million.
Also a Dividend Aristocrat, AbbVie has increased its dividend 195% since the company was spun off from Abbott Labs in 2013. This year, it raised its quarterly dividend to $1.18 per share. The dividend's yield is outstanding -- 5.18% trailing twelve months (TTM) with a payout ratio of 44.73%.
The company confirmed it expects stand-alone adjusted diluted earnings per share for the full year of $9.61 to $9.71, representing growth of 8.1% at the midpoint.
At this point, AbbVie appears to be a better deal
Looking at the potential upside for AbbVie from the Allergan deal, I believe its stock is underpriced, compared to Johnson and Johnson. Not only has AbbVie had more growth this year in its share price, at 7% compared to Johnson & Johnson's 1.7% rise; it has a significantly lower price-to-earnings (P/E) ratio at 16.54% compared to Johnson & Johnson's 22.79%. Add in a slightly more attractive dividend and it's easy to give AbbVie the edge.
Of course, it's not that simple. Johnson & Johnson is likely the safer bet. Two things concern me about AbbVie. How will it respond when Humira likely begins facing biosimilar competition in the U.S. in 2023, and how well will the company integrate Allergan this year?
Another big shift would be if Johnson & Johnson's COVID-19 vaccine candidate is successful. The company plans to spend $1 billion on the effort and plans to begin a phase 1 clinical study in September, with clinical data available by the end of the 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. | AbbVie is strictly pharmaceutical, but its recent purchase of Allergan really broadens its pipeline beyond the world's top-selling drug, Humira, which treats many auto-immune disorders. Buying Allergan gives AbbVie Botox, a cash cow that made the former company $1.02 billion in sales in the fourth quarter, with slightly more than 55% of that from therapeutic uses and 45% from cosmetic use. The company confirmed it expects stand-alone adjusted diluted earnings per share for the full year of $9.61 to $9.71, representing growth of 8.1% at the midpoint. | The company's first-quarter 2020 numbers show a 3.3% increase in sales, year over year, and a 54.6% rise in net earnings. The Dividend King has increased quarterly dividends for 58 years and recently announced it was raising its quarterly dividend 6.3% to $1.01 a share, a solid yield of 2.73%. In AbbVie's first-quarter report, revenue was $8.6 billion, an increase of 10.1%, year over year. | The case for AbbVie AbbVie boasted more growth recently than Johnson & Johnson and that should accelerate with its purchase of Allergan that was completed in May. At this point, AbbVie appears to be a better deal Looking at the potential upside for AbbVie from the Allergan deal, I believe its stock is underpriced, compared to Johnson and Johnson. Not only has AbbVie had more growth this year in its share price, at 7% compared to Johnson & Johnson's 1.7% rise; it has a significantly lower price-to-earnings (P/E) ratio at 16.54% compared to Johnson & Johnson's 22.79%. | The case for AbbVie AbbVie boasted more growth recently than Johnson & Johnson and that should accelerate with its purchase of Allergan that was completed in May. This year, it raised its quarterly dividend to $1.18 per share. Not only has AbbVie had more growth this year in its share price, at 7% compared to Johnson & Johnson's 1.7% rise; it has a significantly lower price-to-earnings (P/E) ratio at 16.54% compared to Johnson & Johnson's 22.79%. |
32594.0 | 2020-06-06 00:00:00 UTC | $3,000 Invested in These Coronavirus Stocks Could Pay Off Big Time | ABT | https://www.nasdaq.com/articles/%243000-invested-in-these-coronavirus-stocks-could-pay-off-big-time-2020-06-06 | nan | nan | First things first: Not every company involved in developing diagnostic tests, treatments, or vaccines for COVID-19 will be a winner over the long term. And that likely includes some that have been racking up big gains in recent months.
On the other hand, some will be big winners -- and not just because of their COVID-19 efforts. After reviewing the quite lengthy list of companies with COVID-19 programs, I selected three that I think have really good chances of delivering strong returns over the next five years. If you have $3,000 to invest, buying these three coronavirus-focused stocks could pay off big time.
Image source: Getty Images.
1. Abbott Labs
Goldman Sachs recently downgraded Abbott Labs (NYSE: ABT) to a sell. Analyst Amit Hazan stated that investors "overreacted" to the healthcare giant's COVID-19 testing opportunity. I think that Hazan is dead wrong about Abbott.
The company has shipped nearly 2.5 million ID NOW COVID-19 tests, the fastest test currently available, and is ramping up capacity to produce over 2 million tests per month. It's shipped 2.8 million m2000 and Alinity m molecular lab tests in the U.S. and nearly 11.4 million COVID-19 antibody tests across the U.S. And Abbott's shares up 6% year to date. Investor overreaction? I don't think so.
What Hazan's downgrade really misses about Abbott is its other prospects beyond COVID-19. The company's Freestyle Libre continuous glucose monitoring (CGM) system is already a huge winner that should greatly expand its market when the new version is cleared by the FDA. Abbott's MitraClip device for mitral regurgitation treatment and its Alinity family of lab diagnostics systems are also tremendous growth drivers.
I expect that Abbott will be able to deliver average annual earnings growth of more than 10% over the next few years, thanks to these and other products. Abbott is also a Dividend Aristocrat, with a dividend yield of more than 1.5%. My view is that the combination of the company's earnings-growth prospects and its solid dividend will provide market-beating returns over the long run.
2. Eli Lilly
Eli Lilly (NYSE: LLY) is the only big pharmaceutical company in the U.S. to establish a drive-through COVID-19 testing site in less than three weeks. It's also evaluating rheumatoid arthritis drug Olumiant in a clinical study as a potential treatment for COVID-19.
However, I think the most exciting component of Lilly's COVID-19 efforts is the company's experimental antibody development. Lilly and partner AbCellera recently started a phase 1 study of LY-Cov555, an antibody therapy developed from a patient who recovered from COVID-19. This therapy holds the potential for both treating and preventing the illness.
Even if Lilly's antibody therapy is unsuccessful, the company still has several growth drivers. Its diabetes franchise, including Trulicity, Jardiance, and Basaglar, continue to enjoy solid sales momentum. Sales are accelerating for breast cancer drug Verzeno, and immunology drugs Taltz and the aforementioned Olumiant are big winners. Lilly also hopes to pick up additional approved indications for existing drugs and has promising pipeline candidates such as atopic dermatitis drug lebrikizumab and pain drug tanezumab.
Like Abbott, Lilly offers an attractive dividend that currently yields a little under 2%. Even though there are headwinds for some of Lilly's older drugs, I look for the company to generate low double-digit-percentage earnings growth over the next few years. And if its COVID-19 antibody therapy pans out, that growth should be even higher.
3. Novavax
Novavax (NASDAQ: NVAX) is without question the riskiest of the group. The company doesn't have any approved products on the market yet -- but the operative word there is "yet."
On May 26, Novavax announced that it has begun a phase 1/2 clinical study evaluating its COVID-19 vaccine candidate NVX-CoV2373. It expects to report results from the phase 1 portion of the study in July and quickly move into phase 2 testing.
There are quite a few drugmakers with experimental COVID-19 vaccines in development. But Novavax has received the biggest investment so far from the Coalition for Epidemic Preparedness Innovations (CEPI), which is a good sign that it's on the right track.
But Novavax also has another promising candidate, flu vaccine NanoFlu. The vaccine beat Sanofi's FluZone Quadrivalent in a phase 3 study. I think NanoFlu has a good chance of winning approval and going on to becoming a blockbuster for Novavax. If this happens, the biotech stock will likely be worth a lot more than its current market cap of around $3 billion.
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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 Goldman Sachs recently downgraded Abbott Labs (NYSE: ABT) to a sell. The company's Freestyle Libre continuous glucose monitoring (CGM) system is already a huge winner that should greatly expand its market when the new version is cleared by the FDA. Abbott's MitraClip device for mitral regurgitation treatment and its Alinity family of lab diagnostics systems are also tremendous growth drivers. | Abbott Labs Goldman Sachs recently downgraded Abbott Labs (NYSE: ABT) to a sell. Eli Lilly Eli Lilly (NYSE: LLY) is the only big pharmaceutical company in the U.S. to establish a drive-through COVID-19 testing site in less than three weeks. On May 26, Novavax announced that it has begun a phase 1/2 clinical study evaluating its COVID-19 vaccine candidate NVX-CoV2373. | Abbott Labs Goldman Sachs recently downgraded Abbott Labs (NYSE: ABT) to a sell. It's shipped 2.8 million m2000 and Alinity m molecular lab tests in the U.S. and nearly 11.4 million COVID-19 antibody tests across the U.S. And Abbott's shares up 6% year to date. 10 stocks we like better than Abbott Laboratories When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | Abbott Labs Goldman Sachs recently downgraded Abbott Labs (NYSE: ABT) to a sell. My view is that the combination of the company's earnings-growth prospects and its solid dividend will provide market-beating returns over the long run. Even if Lilly's antibody therapy is unsuccessful, the company still has several growth drivers. |
32595.0 | 2020-06-06 00:00:00 UTC | 3 Top Coronavirus Stocks to Buy in June | ABT | https://www.nasdaq.com/articles/3-top-coronavirus-stocks-to-buy-in-june-2020-06-06 | nan | nan | The coronavirus outbreak has been a major theme in the stock market these past few months. Investors bet on companies working on treatment and prevention, and some shares -- particularly those of clinical-stage biotech players -- skyrocketed.
Now the question is whether it's too late to invest in coronavirus stocks. Well, it depends on which ones. Here are three that make a great addition to your portfolio right now:
Image source: Getty Images.
1. Pfizer
If you want to bet on cutting-edge vaccine development but don't want the risk that comes with investing in a clinical-stage biotech company, you can opt for Pfizer (NYSE: PFE). The big pharma company partnered with BioNTech (NASDAQ: BNTX) to advance the German biotech company's investigational messenger RNA (mRNA) coronavirus vaccine program.
Last month, the partners said they began dosing the first participants in a phase 1/2 clinical trial in the U.S. and Germany. The dosing evaluation portion of the trial will include as many as 360 volunteers in the U.S. in two age groups. After initial safety and immune response data is available for the 18 to 55 group, the trial will immunize participants in the older set.
Pfizer and BioNTech have started human testing later than rivals such as Moderna (NASDAQ: MRNA) -- also working on an mRNA vaccine -- or Inovio Pharmaceuticals (NASDAQ: INO). But the partners are actually testing four vaccines simultaneously. That's an advantage, as it allows them more than one chance for a win. Each vaccine has a different combination of mRNA format and target antigen. The technology uses mRNA to deliver genetic information to cells so they can make proteins to prevent infection.
Pfizer's collaboration with BioNTech sounds promising, but what I like is that, even if the coronavirus program falters, Pfizer still makes a solid investment. Pfizer's biopharma business reported an 11% increase in first-quarter revenue, led by anticoagulant Eliquis and kidney cancer drug Inlyta. Pfizer shareholders should also benefit from the company's merger of its off-patent and generic business Upjohn with generic giant Mylan (NASDAQ: MYL). This will streamline Pfizer's business, paving the way for more growth. Pfizer investors, with 57% of the new company when the deal closes in the second half, also will benefit from dividends from that new entity.
2. Abbott Labs
The U.S. Food and Drug Administration (FDA) has granted Abbott Laboratories (NYSE: ABT) emergency use authorization for five coronavirus tests over the past few months. In May, Abbott landed a contract with the U.K. government to supply millions of its laboratory-based IgG antibody tests. These tests, by detecting a protein left behind late in the illness, indicate whether a person has had the coronavirus.
But all hasn't been rosy for Abbott. The company recently faced headwinds after a New York University study found its fastest coronavirus test resulted in too many false negatives. Abbott defended its test, saying the test detected 21 out of 23 cases in a study of 1,000 people in Washington. That means 91% sensitivity, or accuracy of positive results. And another study showed sensitivity of more than 94%. Abbott says various factors such as handling and storage impact test outcomes. This particular test, which involves use of a swab, is meant to be done near the patient.
Use of Abbott's coronavirus tests in the coming months should offer more evidence regarding their efficacy. While things look promising overall, I'm most optimistic about Abbott for its portfolio as a whole.
Medical devices are a particularly strong driver of growth. The company makes 38% of its revenue through that business. One of Abbott's star products is its FreeStyle Libre continuous glucose monitoring (CMG) system for diabetes care, which posted a sales gain of more than 60% in the first quarter. Regulatory clearance of the second-generation version -- Libre 2 -- is taking more time than some would like, but a potential nod from the FDA could be a positive catalyst for Abbott shares.
3. Novavax
I wrote about Novavax (NASDAQ: NVAX) last month, saying I was a bit hesitant about how it might afford its coronavirus vaccine program. A day after my article was published, Novavax announced that the Coalition for Epidemic Preparedness Innovations would invest as much as $384 million (after an earlier $4 million investment) in the company's work.
With the funding worry out of the way, the Novavax story has brightened for me. The company last month started enrolling the first patients in a phase 1/2 trial for its vaccine. The study will include about 130 volunteers who are between ages 18 and 59 in Australia. The second part of the study will take place in various countries, including the U.S.
Like the other companies I've recommended here, the coronavirus work looks good, but something else looks even better. Novavax recently reported positive phase 3 data for its flu vaccine. NanoFlu met all primary endpoints in the study, and the company will submit it for regulatory approval through the FDA's accelerated approval pathway. This would be Novavax's first commercialized product -- and in a significant market: The global flu vaccine market, at a compound annual growth rate of 7.7%, is expected to reach $7.34 billion by 2026, according to Fortune Business Insights.
Novavax shares have soared 116% so far this year, and though NanoFlu data is strong, it's best to wait for the FDA's decision before calling this a victory. And that's why I only recommend this biotech stock if you have several investment years ahead of you and have tolerance for 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. | Abbott Labs The U.S. Food and Drug Administration (FDA) has granted Abbott Laboratories (NYSE: ABT) emergency use authorization for five coronavirus tests over the past few months. Pfizer's biopharma business reported an 11% increase in first-quarter revenue, led by anticoagulant Eliquis and kidney cancer drug Inlyta. The company recently faced headwinds after a New York University study found its fastest coronavirus test resulted in too many false negatives. | Abbott Labs The U.S. Food and Drug Administration (FDA) has granted Abbott Laboratories (NYSE: ABT) emergency use authorization for five coronavirus tests over the past few months. The big pharma company partnered with BioNTech (NASDAQ: BNTX) to advance the German biotech company's investigational messenger RNA (mRNA) coronavirus vaccine program. Novavax recently reported positive phase 3 data for its flu vaccine. | Abbott Labs The U.S. Food and Drug Administration (FDA) has granted Abbott Laboratories (NYSE: ABT) emergency use authorization for five coronavirus tests over the past few months. Pfizer If you want to bet on cutting-edge vaccine development but don't want the risk that comes with investing in a clinical-stage biotech company, you can opt for Pfizer (NYSE: PFE). The big pharma company partnered with BioNTech (NASDAQ: BNTX) to advance the German biotech company's investigational messenger RNA (mRNA) coronavirus vaccine program. | Abbott Labs The U.S. Food and Drug Administration (FDA) has granted Abbott Laboratories (NYSE: ABT) emergency use authorization for five coronavirus tests over the past few months. Pfizer's collaboration with BioNTech sounds promising, but what I like is that, even if the coronavirus program falters, Pfizer still makes a solid investment. Abbott defended its test, saying the test detected 21 out of 23 cases in a study of 1,000 people in Washington. |
32596.0 | 2020-06-05 00:00:00 UTC | FDA Evaluates 5 More COVID-19 Antibody Tests | ABT | https://www.nasdaq.com/articles/fda-evaluates-5-more-covid-19-antibody-tests-2020-06-06 | nan | nan | The U.S. Food and Drug Administration, together with the National Institutes of Health's National Cancer Institute, the Centers for Disease Control and Prevention, and the Biomedical Advanced Research and Development Authority, have been independently evaluating serology tests that detect the presence of antibodies against SARS-CoV-2, the novel coronavirus that causes COVID-19. The post-recovery tests will be especially helpful for people who think they had COVID-19 but weren't able to get a diagnostic test for the virus while they were infected.
Last month, the agencies released data on over a dozen antibody tests, and now they've followed up with data from five additional tests, including three that are no longer being sold in the U.S.
Image source: Getty Images.
One of the tests in the recent batch that still has an emergency use authorization, Healgen's COVID-19 IgG/IgM Rapid Test Cassette, scored quite high with a sensitivity -- the ability to detect a true positive case -- of 100% and a specificity -- the ability to detect a true negative -- of 97.5%. That's comparable to Abbott Labs' (NYSE: ABT) Architect SARS-CoV-2 IgG, which registered a sensitivity of 100% and a specificity of 99.6% in the previous round of testing.
The PerkinElmer (NYSE: PKI) EUROIMMUN SARS-CoV-2 ELISA (IgG) test wasn't quite as good, with a sensitivity of 90% and a specificity of 100%. While the results aren't competitive with the best tests, PerkinElmer's test can certainly find a place on the market, where demand outstrips supply. Bio-Rad Laboratories' (NYSE: BIO) Platelia SARS-CoV-2 Total Ab, for instance, has a sensitivity of 92.2% and a specificity of 99.6%.
The evaluations, which were run in April, also included three tests that are no longer on the market. Biomedomics and Phamatech voluntarily withdrew their tests, while Tianjin Beroni Biotechnology's test was removed from the market.
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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. | That's comparable to Abbott Labs' (NYSE: ABT) Architect SARS-CoV-2 IgG, which registered a sensitivity of 100% and a specificity of 99.6% in the previous round of testing. The U.S. Food and Drug Administration, together with the National Institutes of Health's National Cancer Institute, the Centers for Disease Control and Prevention, and the Biomedical Advanced Research and Development Authority, have been independently evaluating serology tests that detect the presence of antibodies against SARS-CoV-2, the novel coronavirus that causes COVID-19. The PerkinElmer (NYSE: PKI) EUROIMMUN SARS-CoV-2 ELISA (IgG) test wasn't quite as good, with a sensitivity of 90% and a specificity of 100%. | That's comparable to Abbott Labs' (NYSE: ABT) Architect SARS-CoV-2 IgG, which registered a sensitivity of 100% and a specificity of 99.6% in the previous round of testing. One of the tests in the recent batch that still has an emergency use authorization, Healgen's COVID-19 IgG/IgM Rapid Test Cassette, scored quite high with a sensitivity -- the ability to detect a true positive case -- of 100% and a specificity -- the ability to detect a true negative -- of 97.5%. While the results aren't competitive with the best tests, PerkinElmer's test can certainly find a place on the market, where demand outstrips supply. | That's comparable to Abbott Labs' (NYSE: ABT) Architect SARS-CoV-2 IgG, which registered a sensitivity of 100% and a specificity of 99.6% in the previous round of testing. One of the tests in the recent batch that still has an emergency use authorization, Healgen's COVID-19 IgG/IgM Rapid Test Cassette, scored quite high with a sensitivity -- the ability to detect a true positive case -- of 100% and a specificity -- the ability to detect a true negative -- of 97.5%. While the results aren't competitive with the best tests, PerkinElmer's test can certainly find a place on the market, where demand outstrips supply. | That's comparable to Abbott Labs' (NYSE: ABT) Architect SARS-CoV-2 IgG, which registered a sensitivity of 100% and a specificity of 99.6% in the previous round of testing. The PerkinElmer (NYSE: PKI) EUROIMMUN SARS-CoV-2 ELISA (IgG) test wasn't quite as good, with a sensitivity of 90% and a specificity of 100%. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. |
32597.0 | 2020-06-04 00:00:00 UTC | 3 Dividend Stocks to Bankroll Your Retirement | ABT | https://www.nasdaq.com/articles/3-dividend-stocks-to-bankroll-your-retirement-2020-06-04 | nan | nan | The COVID-19 pandemic has upended the retirement plans of many investors as companies have seen their operations roiled by business closures, supply chain disruptions, and mounting bills with no money coming in.
Yet there are still plenty of dividend-paying companies that can help investors bankroll their retirement without having to make risky bets or buy penny stocks. The three stocks below are solid businesses that have proved they can withstand shocks to the economy over the years, all the while allowing investors to build up their nest egg.
Image source: Getty Images.
Abbott Laboratories
Healthcare giant Abbott Laboratories (NYSE: ABT) made news recently when it rolled out a five-minute COVID-19 test. It also made news when a New York University research team disputed the test's accuracy (Abbott is defending its product). Regardless of what happens next, though, Abbott remains a worthy potential investment because it is much more than a single test.
Abbott has a strong international established pharmaceuticals business that recorded 7.7% organic first-quarter growth, hitting $1 billion, and robust U.S. diagnostic revenues of 11%, which were offset mostly by sluggish international sales. Nutritional products were up a robust 7.3% to $1.9 billion.
Wall Street is looking for 10% compounded annual earnings growth for the next five years, and though Abbott's stock traded for 46 times trailing earnings by Wednesday's closing prices, it went for a somewhat more reasonable 30 times next year's estimates. Abbott's dividend of $1.44 per share yields a modest 1.6%, but the company has made the payout every single quarter for the past 96 years, which means it's handled its share of market ups and downs.
Although no dividend is guaranteed, and certainly not in current market conditions, Abbott's payout ratio of under 50% means there is a degree of safety built into it. A payout ratio under 60% is generally a sign that a company isn't using too much of its earnings to support the dividend, so it can continue to be paid out -- and, more importantly, increased. Abbott has a record of raising its dividend for 48 consecutive years, suggesting investors can put the stock in their retirement portfolio and see it continue to grow over time.
Amcor
Amcor (NYSE: AMCR) flies under the radar of many investors because it is in the decidedly unsexy business of packaging. Yet, whether rigid or flexible, Amcor's packaging keeps food, beverage, pharmaceutical, medical, home care and personal care products under wraps for a broad swath of businesses.
Formed in its current iteration after a merger with Bemis last year, Amcor has benefited from greater demand in global healthcare needs and in emerging markets. And though CEO Ron Delia has said the company is "absolutely not immune" to the impact of the pandemic, he also pointed out Amcor has seen "no material impact on our financial results" attributable to it, either.
While many companies have withdrawn their guidance for 2020, Amcor recently raised its full-year outlook (for the second time) and is forecasting earnings-per-share growth of 11% to 12% along with more than $1 billion in free cash flow.
Investing legend Peter Lynch was fond of buying "boring" businesses, and Amcor seems to fit the bill. Because its merger opened up new markets and opportunities for it, there is good reason to believe there will be greater growth in the future.
Moreover, Amcor has raised its dividend for 25 consecutive years. The yield is a healthy 4.5% at Wednesday's close, and Amcor forecasts it will produce $1 billion of free cash flow in 2020 before integration costs of $100 million for its acquisition of Bemis. After the payment of dividends, it says that's the equivalent of $300 million to $400 million.
Lowe's
In contrast with Amcor, Lowe's (NYSE: LOW) is a name familiar to investors, arguably more now during the pandemic than beforehand. Sales surged 11% in the first quarter as consumers who were stuck at home decided to spruce up their property, leading to a 28% increase in profits, which came to $1.3 billion.
It also looks like Lowe's will benefit from new home sales, which are rebounding after the housing market essentially came to a standstill during the pandemic. Now that we seem to be slowly emerging from the crisis, home sales are picking up, too, which bodes well for the DIY center, which has made a big push to capture both consumer and contractor business in recent years.
And like the previous two stocks discussed, Lowe's also has a long history of rewarding shareholders, having increased the payout for nearly 60 straight years. Its dividend also yielded a modest 1.7% at Wednesday's close, but with a payout ratio of 38%,, the home improvement center has sufficient room for years more of rising dividend payments that will help bankroll many a retirement portfolio.
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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 Healthcare giant Abbott Laboratories (NYSE: ABT) made news recently when it rolled out a five-minute COVID-19 test. The COVID-19 pandemic has upended the retirement plans of many investors as companies have seen their operations roiled by business closures, supply chain disruptions, and mounting bills with no money coming in. While many companies have withdrawn their guidance for 2020, Amcor recently raised its full-year outlook (for the second time) and is forecasting earnings-per-share growth of 11% to 12% along with more than $1 billion in free cash flow. | Abbott Laboratories Healthcare giant Abbott Laboratories (NYSE: ABT) made news recently when it rolled out a five-minute COVID-19 test. Abbott's dividend of $1.44 per share yields a modest 1.6%, but the company has made the payout every single quarter for the past 96 years, which means it's handled its share of market ups and downs. Abbott has a record of raising its dividend for 48 consecutive years, suggesting investors can put the stock in their retirement portfolio and see it continue to grow over time. | Abbott Laboratories Healthcare giant Abbott Laboratories (NYSE: ABT) made news recently when it rolled out a five-minute COVID-19 test. Wall Street is looking for 10% compounded annual earnings growth for the next five years, and though Abbott's stock traded for 46 times trailing earnings by Wednesday's closing prices, it went for a somewhat more reasonable 30 times next year's estimates. Abbott's dividend of $1.44 per share yields a modest 1.6%, but the company has made the payout every single quarter for the past 96 years, which means it's handled its share of market ups and downs. | Abbott Laboratories Healthcare giant Abbott Laboratories (NYSE: ABT) made news recently when it rolled out a five-minute COVID-19 test. Lowe's In contrast with Amcor, Lowe's (NYSE: LOW) is a name familiar to investors, arguably more now during the pandemic than beforehand. Its dividend also yielded a modest 1.7% at Wednesday's close, but with a payout ratio of 38%,, the home improvement center has sufficient room for years more of rising dividend payments that will help bankroll many a retirement portfolio. |
32598.0 | 2020-06-03 00:00:00 UTC | Make This Biotech Play if You Like Co-Diagnostics’ Chances | ABT | https://www.nasdaq.com/articles/make-this-biotech-play-if-you-like-co-diagnostics-chances-2020-06-03 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
InvestorPlace contributor and longtime stock jockey, Louis Navellier, recently selected Co-Diagnostics (NASDAQ:CODX) and CODX stock as one of seven biotech stocks to buy that are trying to beat back the novel coronavirus, and at the same time, possibly come up with a vaccine.
Source: Shutterstock
I’ve been asked to discuss my thoughts about the company behind the Logix Smart Covid-19 test kit. Frankly, it’s hard to believe I haven’t been asked to write on this subject before.
In recent months, I’ve written about the other six on Navellier’s list, becoming semi-competent on the subject, but by no means developing anywhere near the understanding to bet on any of these companies. If you’re not grounded in science, you probably ought to pass on Co-Diagnostics as well.
Here’s why.
A 5% False Positive
My InvestorPlace colleague, Larry Ramer, often takes the less popular view of a stock or company and while that might make him unpopular with some of our momentum-bent readers, he does provide a nice dose of reality.
8 Battery Stocks That Will Seriously Power Your Portfolio
To be honest, I haven’t followed Co-Diagnostics’ story, so when I read Navellier’s recommendation, I immediately thought that a company with a Covid-19 test was about as safe a biotech bet as you could make.
It’s not proposing to eliminate or treat the vaccine; it’s just offering medical practitioners a fast test (less than two hours) to determine whether an individual has the virus. Considering a significant portion of Covid-19 patients are asymptomatic, testing remains an essential part of reducing the virus’ community spread.
Ramer, however, recently discussed how Co-Diagnostics’ test might not be 100% accurate, suggesting that as many as 5% of its tests are false positive.
“Specifically, an evaluation of 26 other coronavirus tests conducted by a non-profit organization called The Foundation for Innovative New Diagnostics, or FIND, found that 18 of the negative tests had a 100% accuracy rate. Moreover, 23 of the 26 tests had a higher accuracy rate on positive results than Co-Diagnostics’ 95% rate identified by the University of Iowa,” Ramer wrote on May 28.
“The 5% false-positive rate of Co-Diagnostics’ test seems too high and too differentiated from most of the tests evaluated by FIND to be due to chance or an evaluation error.”
Ramer goes on to suggest that if you were in charge of picking a test for your state, you would surely pick one that is 100% accurate for both positive and negative Covid-19 results. Anything less shouldn’t cut it.
From an investment standpoint, I’m always thinking about my options. I don’t necessarily have to invest in CODX stock because there are other potential options available, ones probably safer in the grand scheme of things.
Abbott Labs (NYSE:ABT) and Thermo Fisher Scientific (NYSE:TMO) are two companies providing Covid-19 tests. Both have market capitalizations greater than $100 billion or 200 times Co-Diagnostics’ market cap.
You could buy stock in either of these and do well over the long haul regardless of what happens on the Covid-19 front.
However, when I read Navellier’s article, the first thing that came into my mind is there ought to be an ETF exclusively for Covid-19.
An ETF Alternative to CODX Stock
The coronavirus has helped certain theme-based ETFs, which are expected to gain traction post-pandemic, as the way we go about our lives changes. Artificial intelligence, robotics, connectivity and other disruptive technologies will all benefit from increased investor participation.
On April 23, EQM Indexes LLC launched four Covid-19-related indexes, including the EQM Covid-19 Stock Index, which tracks companies developing therapies, vaccines, and tests to stop the virus in its tracks. It is equally weighted with CODX stock as the third-largest holding with a weighting of 3.39%. On a back-tested basis, the index is up 97.4% year to date through May 29.
“Our goal was to provide timely access to these investment ideas, which are not trades, but capture longer-term thematic trends, which will prevail post the resolution of the COVID-19 global pandemic,” said Janes Edmondson, EQM Indexes’ CEO and co-founder.
For now, there is no ETF provider for the index. However, You can actually buy this index at Folio Financial, which itself was acquired in mid-May by Goldman Sachs (NYSE:GS).
Goldman is building out its wealth management business. Buying Folio brings more than $11 billion in assets under administration from registered independent advisors. Perhaps some of this fun money should go into the EQM Covid-19 Stock Index.
To me, this seems like a much smarter play than focusing on Co-Diagnostics exclusively.
Will Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities.
The post Make This Biotech Play if You Like Co-Diagnostics’ Chances 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 Labs (NYSE:ABT) and Thermo Fisher Scientific (NYSE:TMO) are two companies providing Covid-19 tests. A 5% False Positive My InvestorPlace colleague, Larry Ramer, often takes the less popular view of a stock or company and while that might make him unpopular with some of our momentum-bent readers, he does provide a nice dose of reality. 8 Battery Stocks That Will Seriously Power Your Portfolio To be honest, I haven’t followed Co-Diagnostics’ story, so when I read Navellier’s recommendation, I immediately thought that a company with a Covid-19 test was about as safe a biotech bet as you could make. | Abbott Labs (NYSE:ABT) and Thermo Fisher Scientific (NYSE:TMO) are two companies providing Covid-19 tests. InvestorPlace - Stock Market News, Stock Advice & Trading Tips InvestorPlace contributor and longtime stock jockey, Louis Navellier, recently selected Co-Diagnostics (NASDAQ:CODX) and CODX stock as one of seven biotech stocks to buy that are trying to beat back the novel coronavirus, and at the same time, possibly come up with a vaccine. On April 23, EQM Indexes LLC launched four Covid-19-related indexes, including the EQM Covid-19 Stock Index, which tracks companies developing therapies, vaccines, and tests to stop the virus in its tracks. | Abbott Labs (NYSE:ABT) and Thermo Fisher Scientific (NYSE:TMO) are two companies providing Covid-19 tests. InvestorPlace - Stock Market News, Stock Advice & Trading Tips InvestorPlace contributor and longtime stock jockey, Louis Navellier, recently selected Co-Diagnostics (NASDAQ:CODX) and CODX stock as one of seven biotech stocks to buy that are trying to beat back the novel coronavirus, and at the same time, possibly come up with a vaccine. “The 5% false-positive rate of Co-Diagnostics’ test seems too high and too differentiated from most of the tests evaluated by FIND to be due to chance or an evaluation error.” Ramer goes on to suggest that if you were in charge of picking a test for your state, you would surely pick one that is 100% accurate for both positive and negative Covid-19 results. | Abbott Labs (NYSE:ABT) and Thermo Fisher Scientific (NYSE:TMO) are two companies providing Covid-19 tests. InvestorPlace - Stock Market News, Stock Advice & Trading Tips InvestorPlace contributor and longtime stock jockey, Louis Navellier, recently selected Co-Diagnostics (NASDAQ:CODX) and CODX stock as one of seven biotech stocks to buy that are trying to beat back the novel coronavirus, and at the same time, possibly come up with a vaccine. For now, there is no ETF provider for the index. |
32599.0 | 2020-06-02 00:00:00 UTC | Should You Sell Abbott Laboratories Stock? | ABT | https://www.nasdaq.com/articles/should-you-sell-abbott-laboratories-stock-2020-06-02 | nan | nan | Shares of Abbott Laboratories (NYSE: ABT) are up by 6.3% year to date, a better-than-average performance relative to the broader market that it owes in part to its involvement in the fight against COVID-19. The healthcare company successfully developed several diagnostic tests for the coronavirus, but even though it's currently a leader in this niche, at least one analyst thinks investors should dump its stock.
Specifically, Goldman Sachs analyst Amit Hazan downgraded Abbott's stock from neutral to sell. And although he increased his price target for the stock from $79 to $84, that new target is still 10% below where Abbott is currently trading. Hazan asserts that investors "overreacted" to Abbott's opportunity within the COVID-19 testing niche, and that other companies such as Roche are in better positions in this space. Is he right? I don't think so, and here's why.
Image Source: Getty Images.
Why Abbott Laboratories is worth buying
First, it is worth noting that Abbott's ID Now COVID-19 test is one of the fastest on the market, capable of giving a positive result in as little as five minutes. There was some trouble with the test -- in mid-May, the Food and Drug Administration issued a warning that it could be returning false-negative results. But Abbott seems to have cleared up this issue. The healthcare company recently issued interim data from a clinical study that appears to show that ID Now is highly reliable. Abbott has other tests on the market as well, and I expect the company will remain one of the leaders in COVID-19 testing.
Second, the company's financial position is robust. To quote CFO Robert E. Funck Jr: "[O]ver the last couple of years, we have put a heavy emphasis on strong cash flow generation and rapid debt paydown following a period of strategic shaping. This focused effort has positioned us with healthy leverage ratios and only a modest amount of debt coming due over the next few years."
Lastly, Abbott is a Dividend Aristocrat, and with 48 consecutive years of payout increases under its belt, it's just two away from joining the even more rarefied ranks of the Dividend Kings. While the company's yield of 1.47% is low, investors can be confident that Abbott is unlikely to slash or suspend its payout amid this crisis (in contrast to the 68 other S&P 500 companies that already have done so this year).
For all those reasons -- and given Abbott's strong position in the medical devices market -- I think the company is worth serious consideration, particularly for investors who are willing to ride out this crisis and hold onto its shares for a while.
10 stocks we like better than Abbott Laboratories
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Prosper Junior Bakiny 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. | Shares of Abbott Laboratories (NYSE: ABT) are up by 6.3% year to date, a better-than-average performance relative to the broader market that it owes in part to its involvement in the fight against COVID-19. To quote CFO Robert E. Funck Jr: "[O]ver the last couple of years, we have put a heavy emphasis on strong cash flow generation and rapid debt paydown following a period of strategic shaping. For all those reasons -- and given Abbott's strong position in the medical devices market -- I think the company is worth serious consideration, particularly for investors who are willing to ride out this crisis and hold onto its shares for a while. | Shares of Abbott Laboratories (NYSE: ABT) are up by 6.3% year to date, a better-than-average performance relative to the broader market that it owes in part to its involvement in the fight against COVID-19. Why Abbott Laboratories is worth buying First, it is worth noting that Abbott's ID Now COVID-19 test is one of the fastest on the market, capable of giving a positive result in as little as five minutes. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | Shares of Abbott Laboratories (NYSE: ABT) are up by 6.3% year to date, a better-than-average performance relative to the broader market that it owes in part to its involvement in the fight against COVID-19. Why Abbott Laboratories is worth buying First, it is worth noting that Abbott's ID Now COVID-19 test is one of the fastest on the market, capable of giving a positive result in as little as five minutes. * 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! | Shares of Abbott Laboratories (NYSE: ABT) are up by 6.3% year to date, a better-than-average performance relative to the broader market that it owes in part to its involvement in the fight against COVID-19. Hazan asserts that investors "overreacted" to Abbott's opportunity within the COVID-19 testing niche, and that other companies such as Roche are in better positions in this space. Why Abbott Laboratories is worth buying First, it is worth noting that Abbott's ID Now COVID-19 test is one of the fastest on the market, capable of giving a positive result in as little as five minutes. |
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