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32400.0 | 2020-10-07 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Rave Restaurant, Vedanta, Hill International, Workday, Bristol-Myers | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-rave-restaurant-vedanta-hill-international-workday-bristol | 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 indexes were set to open higher on Wednesday after President Donald Trump's abrupt call to end stimulus talks sent Wall Street tumbling in the previous session, while shares of Levi Strauss surged following a surprise quarterly profit. .N
At 8:25 a.m. ET, Dow e-minis 1YMc1 were up 0.76% at 27,910. S&P 500 e-minis ESc1 were up 0.79% at 3,379.75, while Nasdaq 100 e-minis NQc1 were up 0.84% at 11,369. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Hill International Inc HIL.N, up 19.1% ** Renesola Ltd SOL.N, up 15.9% ** YPF SA YPF.N, up 14.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Ashford Hospitality Trust Inc AHT.N, down 14.4% ** Natuzzi S.p.A NTZ.N, down 11.1% ** Vedanta Ltd VEDL.N, down 7.5% The top Nasdaq percentage gainers premarket .PRPG.O: ** Rave Restaurant Group Inc RAVE.O, up 306.6% ** Sunworks Inc SUNW.O, up 72.9% The top three Nasdaq percentage losers premarket .PRPL.O: ** Electro-Sensors Inc ELSE.O, down 23.9% ** CleanSpark Inc CLSK.O, down 21% ** Asia Pacific Wire & Cable Corp Ltd APWC.O, down 20.9% ** Levi Strauss & Co LEVI.N: up 12.7% premarket BUZZ-Levi Strauss: Gains on upbeat results, retail push ** American Airlines Group Inc AAL.O: up 4.2% premarket ** United Airlines Holdings Inc UAL.O: up 4.4% premarket ** Delta Air Lines Inc DAL.N: up 3.5% premarket ** JetBlue Airways Corp JBLU.O: up 6.3% premarket BUZZ-U.S. airlines rebound as Trump pushes for $25 bln bailout plan ** CleanSpark Inc CLSK.O: down 21.0% premarket BUZZ-Drops after discounted stock offering ** Sirius XM Holdings Inc SIRI.O: up 3.2% premarket BUZZ-Gains after raising qtrly dividend ** Pluristem Therapeutics Inc PSTI.O: up 6.3% premarket BUZZ-Shares up on nod for COVID-19 therapy trial in Israel ** Coty Inc COTY.N: up 4.3% premarket BUZZ-Jefferies sees turnaround under new CEO, upgrades to 'buy' ** Datadog Inc DDOG.O: up 1.7% premarket BUZZ-Berenberg starts coverage with 'hold' ** Workday Inc WDAY.O: up 3.6% premarket BUZZ-Rises as brokerage upgrades rating to "buy", hikes PT ** Netflix Inc NFLX.O: up 1.7% premarket BUZZ-Pivotal raises PT to Street high on streaming domination ** DraftKings Inc DKNG.O: down 8.3% premarket BUZZ-Slides on report of discounted equity offering ** Stable Road Acquisition Corp SRAC.O: up 0.5% premarket BUZZ-Rises on merger with Momentus ** Bristol-Myers Squibb Co BMY.N: up 1.3% premarket BUZZ-Rises after Opdivo combo meets main goal in late-stage study ** Sorrento Therapeutics Inc SRNE.O: up 2.5% premarket BUZZ-Rises as unit posts strong Q3 sales ** Abbott Laboratories ABT.N: up 0.7% premarket BUZZ-Wells Fargo hikes PT, Q3 estimates on demand recovery ** AnPac Bio-Medical Science Co Ltd ANPC.O: up 7.2% premarket BUZZ-Jumps on securing $8 mln funding in China ** Aytu BioScience Inc AYTU.O: down 9.8% premarket BUZZ-Drops after fourth-quarter loss ** TransEnterix Inc TRXC.A: up 18.6% premarket BUZZ-Rises as Japan's hospital to use co's surgical system
(Compiled by C Nivedita in Bengaluru)
((c.nivedita@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Hill International Inc HIL.N, up 19.1% ** Renesola Ltd SOL.N, up 15.9% ** YPF SA YPF.N, up 14.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Ashford Hospitality Trust Inc AHT.N, down 14.4% ** Natuzzi S.p.A NTZ.N, down 11.1% ** Vedanta Ltd VEDL.N, down 7.5% The top Nasdaq percentage gainers premarket .PRPG.O: ** Rave Restaurant Group Inc RAVE.O, up 306.6% ** Sunworks Inc SUNW.O, up 72.9% The top three Nasdaq percentage losers premarket .PRPL.O: ** Electro-Sensors Inc ELSE.O, down 23.9% ** CleanSpark Inc CLSK.O, down 21% ** Asia Pacific Wire & Cable Corp Ltd APWC.O, down 20.9% ** Levi Strauss & Co LEVI.N: up 12.7% premarket BUZZ-Levi Strauss: Gains on upbeat results, retail push ** American Airlines Group Inc AAL.O: up 4.2% premarket ** United Airlines Holdings Inc UAL.O: up 4.4% premarket ** Delta Air Lines Inc DAL.N: up 3.5% premarket ** JetBlue Airways Corp JBLU.O: up 6.3% premarket BUZZ-U.S. airlines rebound as Trump pushes for $25 bln bailout plan ** CleanSpark Inc CLSK.O: down 21.0% premarket BUZZ-Drops after discounted stock offering ** Sirius XM Holdings Inc SIRI.O: up 3.2% premarket BUZZ-Gains after raising qtrly dividend ** Pluristem Therapeutics Inc PSTI.O: up 6.3% premarket BUZZ-Shares up on nod for COVID-19 therapy trial in Israel ** Coty Inc COTY.N: up 4.3% premarket BUZZ-Jefferies sees turnaround under new CEO, upgrades to 'buy' ** Datadog Inc DDOG.O: up 1.7% premarket BUZZ-Berenberg starts coverage with 'hold' ** Workday Inc WDAY.O: up 3.6% premarket BUZZ-Rises as brokerage upgrades rating to "buy", hikes PT ** Netflix Inc NFLX.O: up 1.7% premarket BUZZ-Pivotal raises PT to Street high on streaming domination ** DraftKings Inc DKNG.O: down 8.3% premarket BUZZ-Slides on report of discounted equity offering ** Stable Road Acquisition Corp SRAC.O: up 0.5% premarket BUZZ-Rises on merger with Momentus ** Bristol-Myers Squibb Co BMY.N: up 1.3% premarket BUZZ-Rises after Opdivo combo meets main goal in late-stage study ** Sorrento Therapeutics Inc SRNE.O: up 2.5% premarket BUZZ-Rises as unit posts strong Q3 sales ** Abbott Laboratories ABT.N: up 0.7% premarket BUZZ-Wells Fargo hikes PT, Q3 estimates on demand recovery ** AnPac Bio-Medical Science Co Ltd ANPC.O: up 7.2% premarket BUZZ-Jumps on securing $8 mln funding in China ** Aytu BioScience Inc AYTU.O: down 9.8% premarket BUZZ-Drops after fourth-quarter loss ** TransEnterix Inc TRXC.A: up 18.6% premarket BUZZ-Rises as Japan's hospital to use co's surgical system (Compiled by C Nivedita in Bengaluru) ((c.nivedita@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 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 indexes were set to open higher on Wednesday after President Donald Trump's abrupt call to end stimulus talks sent Wall Street tumbling in the previous session, while shares of Levi Strauss surged following a surprise quarterly profit. ET, Dow e-minis 1YMc1 were up 0.76% at 27,910. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Hill International Inc HIL.N, up 19.1% ** Renesola Ltd SOL.N, up 15.9% ** YPF SA YPF.N, up 14.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Ashford Hospitality Trust Inc AHT.N, down 14.4% ** Natuzzi S.p.A NTZ.N, down 11.1% ** Vedanta Ltd VEDL.N, down 7.5% The top Nasdaq percentage gainers premarket .PRPG.O: ** Rave Restaurant Group Inc RAVE.O, up 306.6% ** Sunworks Inc SUNW.O, up 72.9% The top three Nasdaq percentage losers premarket .PRPL.O: ** Electro-Sensors Inc ELSE.O, down 23.9% ** CleanSpark Inc CLSK.O, down 21% ** Asia Pacific Wire & Cable Corp Ltd APWC.O, down 20.9% ** Levi Strauss & Co LEVI.N: up 12.7% premarket BUZZ-Levi Strauss: Gains on upbeat results, retail push ** American Airlines Group Inc AAL.O: up 4.2% premarket ** United Airlines Holdings Inc UAL.O: up 4.4% premarket ** Delta Air Lines Inc DAL.N: up 3.5% premarket ** JetBlue Airways Corp JBLU.O: up 6.3% premarket BUZZ-U.S. airlines rebound as Trump pushes for $25 bln bailout plan ** CleanSpark Inc CLSK.O: down 21.0% premarket BUZZ-Drops after discounted stock offering ** Sirius XM Holdings Inc SIRI.O: up 3.2% premarket BUZZ-Gains after raising qtrly dividend ** Pluristem Therapeutics Inc PSTI.O: up 6.3% premarket BUZZ-Shares up on nod for COVID-19 therapy trial in Israel ** Coty Inc COTY.N: up 4.3% premarket BUZZ-Jefferies sees turnaround under new CEO, upgrades to 'buy' ** Datadog Inc DDOG.O: up 1.7% premarket BUZZ-Berenberg starts coverage with 'hold' ** Workday Inc WDAY.O: up 3.6% premarket BUZZ-Rises as brokerage upgrades rating to "buy", hikes PT ** Netflix Inc NFLX.O: up 1.7% premarket BUZZ-Pivotal raises PT to Street high on streaming domination ** DraftKings Inc DKNG.O: down 8.3% premarket BUZZ-Slides on report of discounted equity offering ** Stable Road Acquisition Corp SRAC.O: up 0.5% premarket BUZZ-Rises on merger with Momentus ** Bristol-Myers Squibb Co BMY.N: up 1.3% premarket BUZZ-Rises after Opdivo combo meets main goal in late-stage study ** Sorrento Therapeutics Inc SRNE.O: up 2.5% premarket BUZZ-Rises as unit posts strong Q3 sales ** Abbott Laboratories ABT.N: up 0.7% premarket BUZZ-Wells Fargo hikes PT, Q3 estimates on demand recovery ** AnPac Bio-Medical Science Co Ltd ANPC.O: up 7.2% premarket BUZZ-Jumps on securing $8 mln funding in China ** Aytu BioScience Inc AYTU.O: down 9.8% premarket BUZZ-Drops after fourth-quarter loss ** TransEnterix Inc TRXC.A: up 18.6% premarket BUZZ-Rises as Japan's hospital to use co's surgical system (Compiled by C Nivedita in Bengaluru) ((c.nivedita@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 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 indexes were set to open higher on Wednesday after President Donald Trump's abrupt call to end stimulus talks sent Wall Street tumbling in the previous session, while shares of Levi Strauss surged following a surprise quarterly profit. S&P 500 e-minis ESc1 were up 0.79% at 3,379.75, while Nasdaq 100 e-minis NQc1 were up 0.84% at 11,369. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Hill International Inc HIL.N, up 19.1% ** Renesola Ltd SOL.N, up 15.9% ** YPF SA YPF.N, up 14.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Ashford Hospitality Trust Inc AHT.N, down 14.4% ** Natuzzi S.p.A NTZ.N, down 11.1% ** Vedanta Ltd VEDL.N, down 7.5% The top Nasdaq percentage gainers premarket .PRPG.O: ** Rave Restaurant Group Inc RAVE.O, up 306.6% ** Sunworks Inc SUNW.O, up 72.9% The top three Nasdaq percentage losers premarket .PRPL.O: ** Electro-Sensors Inc ELSE.O, down 23.9% ** CleanSpark Inc CLSK.O, down 21% ** Asia Pacific Wire & Cable Corp Ltd APWC.O, down 20.9% ** Levi Strauss & Co LEVI.N: up 12.7% premarket BUZZ-Levi Strauss: Gains on upbeat results, retail push ** American Airlines Group Inc AAL.O: up 4.2% premarket ** United Airlines Holdings Inc UAL.O: up 4.4% premarket ** Delta Air Lines Inc DAL.N: up 3.5% premarket ** JetBlue Airways Corp JBLU.O: up 6.3% premarket BUZZ-U.S. airlines rebound as Trump pushes for $25 bln bailout plan ** CleanSpark Inc CLSK.O: down 21.0% premarket BUZZ-Drops after discounted stock offering ** Sirius XM Holdings Inc SIRI.O: up 3.2% premarket BUZZ-Gains after raising qtrly dividend ** Pluristem Therapeutics Inc PSTI.O: up 6.3% premarket BUZZ-Shares up on nod for COVID-19 therapy trial in Israel ** Coty Inc COTY.N: up 4.3% premarket BUZZ-Jefferies sees turnaround under new CEO, upgrades to 'buy' ** Datadog Inc DDOG.O: up 1.7% premarket BUZZ-Berenberg starts coverage with 'hold' ** Workday Inc WDAY.O: up 3.6% premarket BUZZ-Rises as brokerage upgrades rating to "buy", hikes PT ** Netflix Inc NFLX.O: up 1.7% premarket BUZZ-Pivotal raises PT to Street high on streaming domination ** DraftKings Inc DKNG.O: down 8.3% premarket BUZZ-Slides on report of discounted equity offering ** Stable Road Acquisition Corp SRAC.O: up 0.5% premarket BUZZ-Rises on merger with Momentus ** Bristol-Myers Squibb Co BMY.N: up 1.3% premarket BUZZ-Rises after Opdivo combo meets main goal in late-stage study ** Sorrento Therapeutics Inc SRNE.O: up 2.5% premarket BUZZ-Rises as unit posts strong Q3 sales ** Abbott Laboratories ABT.N: up 0.7% premarket BUZZ-Wells Fargo hikes PT, Q3 estimates on demand recovery ** AnPac Bio-Medical Science Co Ltd ANPC.O: up 7.2% premarket BUZZ-Jumps on securing $8 mln funding in China ** Aytu BioScience Inc AYTU.O: down 9.8% premarket BUZZ-Drops after fourth-quarter loss ** TransEnterix Inc TRXC.A: up 18.6% premarket BUZZ-Rises as Japan's hospital to use co's surgical system (Compiled by C Nivedita in Bengaluru) ((c.nivedita@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 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 indexes were set to open higher on Wednesday after President Donald Trump's abrupt call to end stimulus talks sent Wall Street tumbling in the previous session, while shares of Levi Strauss surged following a surprise quarterly profit. S&P 500 e-minis ESc1 were up 0.79% at 3,379.75, while Nasdaq 100 e-minis NQc1 were up 0.84% at 11,369. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Hill International Inc HIL.N, up 19.1% ** Renesola Ltd SOL.N, up 15.9% ** YPF SA YPF.N, up 14.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Ashford Hospitality Trust Inc AHT.N, down 14.4% ** Natuzzi S.p.A NTZ.N, down 11.1% ** Vedanta Ltd VEDL.N, down 7.5% The top Nasdaq percentage gainers premarket .PRPG.O: ** Rave Restaurant Group Inc RAVE.O, up 306.6% ** Sunworks Inc SUNW.O, up 72.9% The top three Nasdaq percentage losers premarket .PRPL.O: ** Electro-Sensors Inc ELSE.O, down 23.9% ** CleanSpark Inc CLSK.O, down 21% ** Asia Pacific Wire & Cable Corp Ltd APWC.O, down 20.9% ** Levi Strauss & Co LEVI.N: up 12.7% premarket BUZZ-Levi Strauss: Gains on upbeat results, retail push ** American Airlines Group Inc AAL.O: up 4.2% premarket ** United Airlines Holdings Inc UAL.O: up 4.4% premarket ** Delta Air Lines Inc DAL.N: up 3.5% premarket ** JetBlue Airways Corp JBLU.O: up 6.3% premarket BUZZ-U.S. airlines rebound as Trump pushes for $25 bln bailout plan ** CleanSpark Inc CLSK.O: down 21.0% premarket BUZZ-Drops after discounted stock offering ** Sirius XM Holdings Inc SIRI.O: up 3.2% premarket BUZZ-Gains after raising qtrly dividend ** Pluristem Therapeutics Inc PSTI.O: up 6.3% premarket BUZZ-Shares up on nod for COVID-19 therapy trial in Israel ** Coty Inc COTY.N: up 4.3% premarket BUZZ-Jefferies sees turnaround under new CEO, upgrades to 'buy' ** Datadog Inc DDOG.O: up 1.7% premarket BUZZ-Berenberg starts coverage with 'hold' ** Workday Inc WDAY.O: up 3.6% premarket BUZZ-Rises as brokerage upgrades rating to "buy", hikes PT ** Netflix Inc NFLX.O: up 1.7% premarket BUZZ-Pivotal raises PT to Street high on streaming domination ** DraftKings Inc DKNG.O: down 8.3% premarket BUZZ-Slides on report of discounted equity offering ** Stable Road Acquisition Corp SRAC.O: up 0.5% premarket BUZZ-Rises on merger with Momentus ** Bristol-Myers Squibb Co BMY.N: up 1.3% premarket BUZZ-Rises after Opdivo combo meets main goal in late-stage study ** Sorrento Therapeutics Inc SRNE.O: up 2.5% premarket BUZZ-Rises as unit posts strong Q3 sales ** Abbott Laboratories ABT.N: up 0.7% premarket BUZZ-Wells Fargo hikes PT, Q3 estimates on demand recovery ** AnPac Bio-Medical Science Co Ltd ANPC.O: up 7.2% premarket BUZZ-Jumps on securing $8 mln funding in China ** Aytu BioScience Inc AYTU.O: down 9.8% premarket BUZZ-Drops after fourth-quarter loss ** TransEnterix Inc TRXC.A: up 18.6% premarket BUZZ-Rises as Japan's hospital to use co's surgical system (Compiled by C Nivedita in Bengaluru) ((c.nivedita@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 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 indexes were set to open higher on Wednesday after President Donald Trump's abrupt call to end stimulus talks sent Wall Street tumbling in the previous session, while shares of Levi Strauss surged following a surprise quarterly profit. ET, Dow e-minis 1YMc1 were up 0.76% at 27,910. | c94b4dba-b626-4238-a277-2e777ba26b0b |
32401.0 | 2020-10-06 00:00:00 UTC | Abbott Labs to Sell 20.5 Million COVID-19 Antigen Tests to Canadian Government | ABT | https://www.nasdaq.com/articles/abbott-labs-to-sell-20.5-million-covid-19-antigen-tests-to-canadian-government-2020-10-06 | nan | nan | Abbott Laboratories (NYSE: ABT) has signed a deal with the government of Canada to potentially supply around 21 million of its Panbio COVID-19 tests, the latter announced on Tuesday. The move closely follows the approval of the test by Health Canada, the nation's healthcare industry regulator.
Panbio is an antigen test that can produce results on the spot in 20 minutes. It is also portable, making it ideal for testing in point-of-care sites outside of standard medical facilities.
This should alleviate the overcrowding seen at official testing centers in certain parts of the country. Some areas -- for instance, the province of Ontario, home to Ottawa, the capital -- are also struggling with a backlog of tens of thousands of samples from other tests that have yet to be evaluated.https://www.cbc.ca/news/politics/health-canada-antigen-test-abbott-1.5751939Â
Image source: Getty Images.
"To be clear, the strategy in terms of our procurements is not to replace the standardized testing model but to enhance the capacity of provinces and territories to keep up with the increasing demand for tests," Public Services and Procurement Minister Anita Anand was quoted as saying by the Canadian Broadcasting Company.
"Our strategy is one of diversification across various testing types and models," she added.
The government plans to distribute 8.5 million tests throughout the country by the end of this year. If those tests prove to be effective, Canada will exercise an option it holds with Abbott to obtain an additional 12.5 million.
No financial details of the arrangement have yet been made public.
Abbott's shares dipped by 2.1% on Tuesday, a steeper fall than that suffered by the S&P 500 index.
10 stocks we like better than Abbott Laboratories
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Abbott Laboratories wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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*Stock Advisor returns as of September 24, 2020
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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories (NYSE: ABT) has signed a deal with the government of Canada to potentially supply around 21 million of its Panbio COVID-19 tests, the latter announced on Tuesday. "To be clear, the strategy in terms of our procurements is not to replace the standardized testing model but to enhance the capacity of provinces and territories to keep up with the increasing demand for tests," Public Services and Procurement Minister Anita Anand was quoted as saying by the Canadian Broadcasting Company. If those tests prove to be effective, Canada will exercise an option it holds with Abbott to obtain an additional 12.5 million. | Abbott Laboratories (NYSE: ABT) has signed a deal with the government of Canada to potentially supply around 21 million of its Panbio COVID-19 tests, the latter announced on Tuesday. "To be clear, the strategy in terms of our procurements is not to replace the standardized testing model but to enhance the capacity of provinces and territories to keep up with the increasing demand for tests," Public Services and Procurement Minister Anita Anand was quoted as saying by the Canadian Broadcasting Company. 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) has signed a deal with the government of Canada to potentially supply around 21 million of its Panbio COVID-19 tests, the latter announced on Tuesday. "To be clear, the strategy in terms of our procurements is not to replace the standardized testing model but to enhance the capacity of provinces and territories to keep up with the increasing demand for tests," Public Services and Procurement Minister Anita Anand was quoted as saying by the Canadian Broadcasting Company. 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) has signed a deal with the government of Canada to potentially supply around 21 million of its Panbio COVID-19 tests, the latter announced on Tuesday. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. See the 10 stocks | 4258e2e2-412e-443b-a474-f91334001301 |
32402.0 | 2020-10-06 00:00:00 UTC | Canada signs deal with Abbott for Panbio COVID-19 antigen tests | ABT | https://www.nasdaq.com/articles/canada-signs-deal-with-abbott-for-panbio-covid-19-antigen-tests-2020-10-06-0 | nan | nan | Adds background
OTTAWA, Oct 6 (Reuters) - Canada said on Tuesday that it had signed a deal with Abbott ABT.N to purchase up to 20.5 million Panbio COVID-19 antigen tests as Health Canada approved the device, the first of its kind in Canada.
The disposable swab test may help ease pressure on testing sites and labs in Ontario and Quebec, where cases are surging and some patients must wait a week or longer for results.
It works in 15 minutes, and is similar to Abbot's BinaxNOW, already on the market in the United States.
"These antigens tests will have a role to play in avoiding large cluster outbreaks, when results are needed quickly to avoid further spread of the virus," said Patty Hajdu, Canada's Health Minister, in the statement.
Federal officials said last week that they expected an antigen test to be approved soon. L1N2GQ14F
Canada was slow to approve the tests, already widely used in some other countries. Officials have said they are moving as quickly as they can without compromising safety. L2N2GJ161
(Reporting by Julie Gordon in Ottawa Editing by Chizu Nomiyama and Aurora Ellis)
((julie.gordon@thomsonreuters.com; 613-235-6745; Reuters Messaging: julie.gordon.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds background OTTAWA, Oct 6 (Reuters) - Canada said on Tuesday that it had signed a deal with Abbott ABT.N to purchase up to 20.5 million Panbio COVID-19 antigen tests as Health Canada approved the device, the first of its kind in Canada. It works in 15 minutes, and is similar to Abbot's BinaxNOW, already on the market in the United States. "These antigens tests will have a role to play in avoiding large cluster outbreaks, when results are needed quickly to avoid further spread of the virus," said Patty Hajdu, Canada's Health Minister, in the statement. | Adds background OTTAWA, Oct 6 (Reuters) - Canada said on Tuesday that it had signed a deal with Abbott ABT.N to purchase up to 20.5 million Panbio COVID-19 antigen tests as Health Canada approved the device, the first of its kind in Canada. "These antigens tests will have a role to play in avoiding large cluster outbreaks, when results are needed quickly to avoid further spread of the virus," said Patty Hajdu, Canada's Health Minister, in the statement. Federal officials said last week that they expected an antigen test to be approved soon. | Adds background OTTAWA, Oct 6 (Reuters) - Canada said on Tuesday that it had signed a deal with Abbott ABT.N to purchase up to 20.5 million Panbio COVID-19 antigen tests as Health Canada approved the device, the first of its kind in Canada. The disposable swab test may help ease pressure on testing sites and labs in Ontario and Quebec, where cases are surging and some patients must wait a week or longer for results. "These antigens tests will have a role to play in avoiding large cluster outbreaks, when results are needed quickly to avoid further spread of the virus," said Patty Hajdu, Canada's Health Minister, in the statement. | Adds background OTTAWA, Oct 6 (Reuters) - Canada said on Tuesday that it had signed a deal with Abbott ABT.N to purchase up to 20.5 million Panbio COVID-19 antigen tests as Health Canada approved the device, the first of its kind in Canada. The disposable swab test may help ease pressure on testing sites and labs in Ontario and Quebec, where cases are surging and some patients must wait a week or longer for results. It works in 15 minutes, and is similar to Abbot's BinaxNOW, already on the market in the United States. | 3d60016a-e596-4d02-b860-67ce631f292c |
32403.0 | 2020-10-06 00:00:00 UTC | 3 Stocks You Can Keep Forever | ABT | https://www.nasdaq.com/articles/3-stocks-you-can-keep-forever-2020-10-06 | nan | nan | If you're at the start of your investing journey, you should find a handful of stocks you can keep in your portfolio for the longest time frame you can conceive. If these stocks can keep pace with -- or exceed -- the growth of the market over the long term, you'll become richer and richer as time goes on. Of course, picking long-haul stocks that will stand the test of time is easier said than done.Â
The three stocks I'll discuss today have some things in common that make them worth retaining in your portfolio forever. They're deeply established companies that have so many different products and services that they don't need to worry if they're out-competed in any single market. And they all pay highly reliable dividends, so if you hold their stocks for long enough, they might even pay for themselves someday.
Without further ado, let's dive into three stocks that are worth holding for as long as you plan to be in the market.
Image source: Getty Images.
Abbott Laboratories
Abbott Laboratories (NYSE: ABT) is a titan in the healthcare sector, producing a tremendous number of items ranging from pharmaceutical drugs to diagnostic tests and laboratory reagents. Incorporated in 1888, Abbott Labs has stood the test of time like few other companies. In fact, it has issued dividend payments without fail -- and increased them annually -- for more than 47 years. This means that Abbott qualifies as one of the Dividend Aristocrats, an exclusive club to say the least.
While Abbott's trailing dividend yield of 1.3% isn't lucrative, behind the S&P 500's average of 2%, the company's stock has grown steadily over its time on the market, expanding by more than 325% in the past 10 years alone. Similarly, though its profit margin just shy of 10% is nothing to write home about, it's been proven stable through thick and thin. Even if Abbott isn't among the most rapidly growing companies in the healthcare sector, it's certainly one of the anchors you can count on to appreciate in value over time.Â
Thermo Fisher Scientific
Thermo Fisher Scientific (NYSE: TMO) isn't exactly a household name for members of the general public, but it's well known in the pharmaceutical and biotech industries. Thermo Fisher makes laboratory hardware, scientific software, biomedical research reagents, diagnostic kits, and a galaxy of similar products, many of which are the industry standard for their stated purpose. Because of how central Thermo Fisher's products are to the biomedical industries, the stock has grown by a shocking 828% in the past 10 years, doubtlessly buoyed by consistently rising revenues.
As with Abbott Labs, Thermo Fisher's trailing dividend yield of 0.19% is not particularly exciting, and many companies have a higher profit margin than its 14%. On the other hand, for a large company in a mature industry, Thermo Fisher's year-over-year quarterly revenue growth of 9.5% looks quite favorable. As long as laboratories need equipment and consumable supplies, Thermo Fisher will be there for them, which is to say that its business isn't about to dry up even though it has faced an ocean of hungry competitors for many years already.
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Walgreens Boots Alliance
With its army of more than 9,200 pharmacy retail locations and a growing set of clinical care stations, Walgreens Boots Alliance (NASDAQ: WBA) is the most widely visible company on this list. Like the other two healthcare titans mentioned here, Walgreens has a massive number of different products for sale, and its international operations ensure that it isn't exposed to significant downside risk from any single country. These factors make it stable, and they also lower the long-term risks of expanding into new product verticals and new countries. While it's true that the company's stock has struggled in the past few years, it's also true that Walgreens has rallied after other periods of underperformance.Â
Because it has a massive base of retail locations and it sells a huge number of narrow-margin consumer goods, Walgreens has a very slim profit margin of 0.5%, and you shouldn't expect this to increase by very much over time. But that shouldn't scare investors, as Walgreens has successfully competed in this environment for decades. Likewise, Walgreens has a sustainable dividend with a trailing yield of 5%, but that may not increase by much. And that's OK -- Walgreens has an entire population of customers who are dependent on it for their pharmacy services, and even fierce competition hasn't stopped the company from persevering over time.
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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 a titan in the healthcare sector, producing a tremendous number of items ranging from pharmaceutical drugs to diagnostic tests and laboratory reagents. While Abbott's trailing dividend yield of 1.3% isn't lucrative, behind the S&P 500's average of 2%, the company's stock has grown steadily over its time on the market, expanding by more than 325% in the past 10 years alone. Thermo Fisher makes laboratory hardware, scientific software, biomedical research reagents, diagnostic kits, and a galaxy of similar products, many of which are the industry standard for their stated purpose. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) is a titan in the healthcare sector, producing a tremendous number of items ranging from pharmaceutical drugs to diagnostic tests and laboratory reagents. Even if Abbott isn't among the most rapidly growing companies in the healthcare sector, it's certainly one of the anchors you can count on to appreciate in value over time. Thermo Fisher Scientific Thermo Fisher Scientific (NYSE: TMO) isn't exactly a household name for members of the general public, but it's well known in the pharmaceutical and biotech industries. Thermo Fisher makes laboratory hardware, scientific software, biomedical research reagents, diagnostic kits, and a galaxy of similar products, many of which are the industry standard for their stated purpose. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) is a titan in the healthcare sector, producing a tremendous number of items ranging from pharmaceutical drugs to diagnostic tests and laboratory reagents. While Abbott's trailing dividend yield of 1.3% isn't lucrative, behind the S&P 500's average of 2%, the company's stock has grown steadily over its time on the market, expanding by more than 325% in the past 10 years alone. Even if Abbott isn't among the most rapidly growing companies in the healthcare sector, it's certainly one of the anchors you can count on to appreciate in value over time. Thermo Fisher Scientific Thermo Fisher Scientific (NYSE: TMO) isn't exactly a household name for members of the general public, but it's well known in the pharmaceutical and biotech industries. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) is a titan in the healthcare sector, producing a tremendous number of items ranging from pharmaceutical drugs to diagnostic tests and laboratory reagents. Even if Abbott isn't among the most rapidly growing companies in the healthcare sector, it's certainly one of the anchors you can count on to appreciate in value over time. Thermo Fisher Scientific Thermo Fisher Scientific (NYSE: TMO) isn't exactly a household name for members of the general public, but it's well known in the pharmaceutical and biotech industries. As with Abbott Labs, Thermo Fisher's trailing dividend yield of 0.19% is not particularly exciting, and many companies have a higher profit margin than its 14%. | 82c7f6fc-6eed-453f-b1b1-bb62fe5ae88d |
32404.0 | 2020-10-05 00:00:00 UTC | Why OPKO Health Jumped 13.9% in September | ABT | https://www.nasdaq.com/articles/why-opko-health-jumped-13.9-in-september-2020-10-05 | nan | nan | What happened
Shares of OPKO Health (NASDAQ: OPK) jumped 13.9% in September, according to data from S&P Global Market Intelligence, after it began its coronavirus vaccine testing program in New York City schools and again following phase 2 testing starting on a COVID-19 treatment.
So what
OPKO's stock plunged over 35% in August after Abbott Labs (NYSE: ABT) announced it would begin offering a cheap, quick COVID-19 test at the end of the month. OPKO's BioReference Labs offers a slightly slower test that takes 24 to 72 hours to see results.
Image source: Getty Images.
The lab, though, began its testing for all principals, teachers, and staff of the New York City school system on Sept. 2, helping to lift shares. Then, in the middle of the month, it announced its COVID-19 therapy Rayaldee would enter clinical-trials testing.
One of the markers seen with COVID-19 patients is a vitamin D deficiency, and Rayaldee is a vitamin D-based drug that has received Food & Drug Administration approval as a treatment for certain forms of kidney disease.
Now what
OPKO Health's stock ended the month strong, and that has continued into October. Shares are up over 21% over the past week, which could be caused by short sellers covering their positions. Nearly a third of the healthcare company's stock is sold short with its short interest ratio -- the theoretical time it would take for short sellers to cover their position -- sitting above 11 days, and anything over seven is considered a lot.
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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. | So what OPKO's stock plunged over 35% in August after Abbott Labs (NYSE: ABT) announced it would begin offering a cheap, quick COVID-19 test at the end of the month. OPKO's BioReference Labs offers a slightly slower test that takes 24 to 72 hours to see results. The lab, though, began its testing for all principals, teachers, and staff of the New York City school system on Sept. 2, helping to lift shares. | So what OPKO's stock plunged over 35% in August after Abbott Labs (NYSE: ABT) announced it would begin offering a cheap, quick COVID-19 test at the end of the month. Now what OPKO Health's stock ended the month strong, and that has continued into October. Shares are up over 21% over the past week, which could be caused by short sellers covering their positions. | So what OPKO's stock plunged over 35% in August after Abbott Labs (NYSE: ABT) announced it would begin offering a cheap, quick COVID-19 test at the end of the month. What happened Shares of OPKO Health (NASDAQ: OPK) jumped 13.9% in September, according to data from S&P Global Market Intelligence, after it began its coronavirus vaccine testing program in New York City schools and again following phase 2 testing starting on a COVID-19 treatment. 10 stocks we like better than Opko Health When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | So what OPKO's stock plunged over 35% in August after Abbott Labs (NYSE: ABT) announced it would begin offering a cheap, quick COVID-19 test at the end of the month. See the 10 stocks The Motley Fool has no position in any of the stocks mentioned. | 237e7562-62eb-4d79-9301-838ce2bc2900 |
32405.0 | 2020-10-05 00:00:00 UTC | 2 Top Coronavirus Stocks to Buy Right Now | ABT | https://www.nasdaq.com/articles/2-top-coronavirus-stocks-to-buy-right-now-2020-10-05 | nan | nan | As the world holds its breath in hopes of vaccines, tests, or therapies to mitigate the impact of COVID-19, coronavirus stocks are among the hottest on the market. Between a barrage of breakthroughs in vaccine clinical trials and nonstop innovation in the coronavirus diagnostic market, healthcare companies are under intense scrutiny from investors. And with a glut of government funding sloshing into companies' research and development budgets, there are plenty of new product initiatives to keep track of.
Unfortunately, now is also a time of immense speculation in the market. In many cases, the prospect that a company might make a coronavirus vaccine has turned its stock into a lottery ticket. Meanwhile, established companies with proven track records in product development may not be getting the appreciation from the market that they deserve as they create new and lucrative solutions to some of the pandemic's thorniest problems. Let's take a closer look at a pair of companies that you're probably already familiar with to see what makes them worth buying right now.
Image source: Getty Images.
AstraZeneca
AstraZeneca (NYSE: AZN) is well-known as a successful pharmaceutical company with a roster of profitable drugs and deep experience in the clinical trial process. So, when management announced that it was working on a coronavirus vaccine candidate earlier this year, the market responded favorably -- at least until the company's clinical trial hit a roadblock recently.
As a result of unexplained side effects experienced by one of the patients enrolled in AstraZeneca's coronavirus vaccine trial, the company was forced to halt its U.S. clinical investigations. And, with the U.S. Food and Drug Administration (FDA) announcing Oct. 2 that its regulatory inquiry into these side effects would need to expand rather than conclude, it looks like AstraZeneca's trial will remain on hold for even longer.Â
How could this seemingly expanding obstacle possibly make AstraZeneca a coronavirus stock that's worth buying now? For one, the market will likely overreact to the significance of the clinical hold. Clinical holds happen all the time during drug and vaccine development, including with many therapies that go on to receive regulatory approval after they successfully finish clinical trials, and AstraZeneca has already resumed its vaccine trials in the U.K.
This is also a company that will experience long-term growth regardless of the fate of its coronavirus vaccine candidate. The candidate is only one tiny portion of the company's massive development pipeline, and given how many in-demand therapies it's developing, this might not even be the most profitable project in the works.
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Abbott Laboratories
Abbott Laboratories (NYSE: ABT), meanwhile, is a top coronavirus stock thanks to its efforts in the diagnostic testing market. While Abbott does develop plenty of therapeutic drugs, its tests are what makes it worth buying right now. Abbott has products in every segment of the testing market, including rapid tests, multiplexable diagnostic tests, and antibody tests.
Between its first coronavirus testing products like the ID NOW rapid diagnostic system and more recent innovations like the $5 BinaxNOW rapid antigen test, Abbott has been an industry leader, and it shows no signs of stopping. In the second quarter of this year alone, the company sold more than 40 million COVID-19 tests worldwide.
It's highly likely that Abbott will continue to iterate on its successful tests to develop new products that cater to the needs of consumers and healthcare providers alike -- for example, rapid saliva-based tests that can be administered without a clinician. That rising revenue will bring shareholders growth, but coronavirus-related gains won't be the only factor driving returns. Abbott's newest glucose monitoring device exhibited sales growth of 40% last quarter, and the company also received the green light to commercialize the newest member of its family of implantable cardiac defibrillators.
With new revenue sources constantly cropping up as a result of Abbott's herculean product-development pipeline, the company's coronavirus testing efforts are only the latest bit of icing on the cake for 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. | SPY data by YCharts Abbott Laboratories Abbott Laboratories (NYSE: ABT), meanwhile, is a top coronavirus stock thanks to its efforts in the diagnostic testing market. So, when management announced that it was working on a coronavirus vaccine candidate earlier this year, the market responded favorably -- at least until the company's clinical trial hit a roadblock recently. As a result of unexplained side effects experienced by one of the patients enrolled in AstraZeneca's coronavirus vaccine trial, the company was forced to halt its U.S. clinical investigations. | SPY data by YCharts Abbott Laboratories Abbott Laboratories (NYSE: ABT), meanwhile, is a top coronavirus stock thanks to its efforts in the diagnostic testing market. Between a barrage of breakthroughs in vaccine clinical trials and nonstop innovation in the coronavirus diagnostic market, healthcare companies are under intense scrutiny from investors. Abbott has products in every segment of the testing market, including rapid tests, multiplexable diagnostic tests, and antibody tests. | SPY data by YCharts Abbott Laboratories Abbott Laboratories (NYSE: ABT), meanwhile, is a top coronavirus stock thanks to its efforts in the diagnostic testing market. And, with the U.S. Food and Drug Administration (FDA) announcing Oct. 2 that its regulatory inquiry into these side effects would need to expand rather than conclude, it looks like AstraZeneca's trial will remain on hold for even longer. How could this seemingly expanding obstacle possibly make AstraZeneca a coronavirus stock that's worth buying now? Abbott has products in every segment of the testing market, including rapid tests, multiplexable diagnostic tests, and antibody tests. | SPY data by YCharts Abbott Laboratories Abbott Laboratories (NYSE: ABT), meanwhile, is a top coronavirus stock thanks to its efforts in the diagnostic testing market. Clinical holds happen all the time during drug and vaccine development, including with many therapies that go on to receive regulatory approval after they successfully finish clinical trials, and AstraZeneca has already resumed its vaccine trials in the U.K. Abbott has products in every segment of the testing market, including rapid tests, multiplexable diagnostic tests, and antibody tests. | 92a04819-50e1-4dda-a4c5-c37fc35d2c18 |
32406.0 | 2020-10-04 00:00:00 UTC | Is Abbott Laboratories Stock a Buy? | ABT | https://www.nasdaq.com/articles/is-abbott-laboratories-stock-a-buy-2020-10-04 | nan | nan | With a market cap of more than $189 billion, Abbott Laboratories (NYSE: ABT) is one of the largest healthcare companies in the world. Thanks to its ever-growing cornucopia of consumer health goods, medicines, and diagnostic tests, Abbott has carved out profitable niches in many different markets since its founding in 1888. In the context of our present pandemic, however, Abbott's claim to fame has been its coronavirus products. So far this year, Abbott has released six different COVID-19 tests, four of which are intended for diagnosing active infections and two of which detect antibodies that are indicative of past infection.
In total, high levels of demand for these new tests drove Abbott's sales revenue from diagnostics to grow by 7% in the second quarter alone. Nonetheless, the company's quarterly year-over-year revenue growth remains at negative 8.2%. Is Abbott's brand-new coronavirus testing segment large enough to carry it to new heights, or is it spending a lot of money on research and development without any obvious long-term returns in the works? In my view, Abbott has a bright future of growth from its investment in coronavirus tests, but that's just one element of its return to steady revenue increases.Â
Abbott leads the pack in COVID-19 diagnostics
Abbott's innovations in coronavirus testing led the company's molecular diagnostics segment to grow by a wild 241% in the second quarter, powered by sales of 40 million coronavirus tests worldwide. In total, the company's diagnostics sales were $2 billion in the second quarter, making it Abbott's second-largest segment. While Abbott probably can't sustain this kind of revenue growth in the long term, it's already taking action to capture more of the coronavirus testing market by offering discounts and developing new testing products.
In this vein, the company announced in late August that the U.S. Food and Drug Administration (FDA) had granted its new BinaxNOW rapid coronavirus diagnostic test an emergency use authorization, thereby clearing it for sale. With a price tag of $5, a processing time requirement of merely 15 minutes, and an integrated smartphone application for tracking and validating test results, the BinaxNOW is a significant improvement over Abbott's prior COVID-19 tests, not to mention the offerings of its competitors.Â
But there's one more thing about Abbott's coronavirus diagnostics work that investors will be pleased to hear: The company is on track to spend less on research and development this year in comparison to 2019. In the second quarter of this year, Abbott spent $564 million, whereas in that period in 2019 it spent $577 million. The divergence is even larger for the first quarter -- it shelled out $672 million in 2019 compared with just $578 million this year. In other words, Abbott didn't need to increase the overall size of its research budget to create half a dozen totally new products while continuing with all of its prior projects at the same pace as before the pandemic. The company has no need to stretch its dollars, but it appears to have done so to a fantastic degree anyway.
Image source: Getty Images.
Tests are only a fraction of Abbott's innovation machine
There's a lot more to excite investors about Abbott Laboratories beyond coronavirus testing. In particular, the company's freshly launched FreeStyle Libre 2 integrated glucose monitoring sensor saw sales explode by 40% from April to August alone. This device is only in the early stages of market penetration, so there's reason to believe revenue growth will remain rapid.
As revenue grows, the company will also look to cross-market the device to new demographics, much like it recently did with its glucose monitor for athletes. Investors can also expect Abbott's new implantable defibrillator device to start driving new revenue, as it was just approved for use by the FDA. Medical devices including these two products make up Abbott's largest segment, with inflows of $2.4 billion in Q2.
There are quite a few different drivers for revenue growth at Abbott, and astute investors will recognize that this would still be true even if the pandemic had never happened. Furthermore, while it's true that its sales revenues have been contracting recently, the company is still profitable, flush with cash, and it pays a dividend that has increased each year without fail for decades on end. For me, it's hard to identify a better big pharma stock than Abbott, so it's an easy call to say that it's worth a 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. | With a market cap of more than $189 billion, Abbott Laboratories (NYSE: ABT) is one of the largest healthcare companies in the world. Is Abbott's brand-new coronavirus testing segment large enough to carry it to new heights, or is it spending a lot of money on research and development without any obvious long-term returns in the works? In this vein, the company announced in late August that the U.S. Food and Drug Administration (FDA) had granted its new BinaxNOW rapid coronavirus diagnostic test an emergency use authorization, thereby clearing it for sale. | With a market cap of more than $189 billion, Abbott Laboratories (NYSE: ABT) is one of the largest healthcare companies in the world. In my view, Abbott has a bright future of growth from its investment in coronavirus tests, but that's just one element of its return to steady revenue increases. Abbott leads the pack in COVID-19 diagnostics Abbott's innovations in coronavirus testing led the company's molecular diagnostics segment to grow by a wild 241% in the second quarter, powered by sales of 40 million coronavirus tests worldwide. In total, the company's diagnostics sales were $2 billion in the second quarter, making it Abbott's second-largest segment. | With a market cap of more than $189 billion, Abbott Laboratories (NYSE: ABT) is one of the largest healthcare companies in the world. In my view, Abbott has a bright future of growth from its investment in coronavirus tests, but that's just one element of its return to steady revenue increases. Abbott leads the pack in COVID-19 diagnostics Abbott's innovations in coronavirus testing led the company's molecular diagnostics segment to grow by a wild 241% in the second quarter, powered by sales of 40 million coronavirus tests worldwide. With a price tag of $5, a processing time requirement of merely 15 minutes, and an integrated smartphone application for tracking and validating test results, the BinaxNOW is a significant improvement over Abbott's prior COVID-19 tests, not to mention the offerings of its competitors. But there's one more thing about Abbott's coronavirus diagnostics work that investors will be pleased to hear: The company is on track to spend less on research and development this year in comparison to 2019. | With a market cap of more than $189 billion, Abbott Laboratories (NYSE: ABT) is one of the largest healthcare companies in the world. In my view, Abbott has a bright future of growth from its investment in coronavirus tests, but that's just one element of its return to steady revenue increases. Abbott leads the pack in COVID-19 diagnostics Abbott's innovations in coronavirus testing led the company's molecular diagnostics segment to grow by a wild 241% in the second quarter, powered by sales of 40 million coronavirus tests worldwide. In total, the company's diagnostics sales were $2 billion in the second quarter, making it Abbott's second-largest segment. | a5747a98-0b8c-4dcb-b8a9-27d82261f4f8 |
32407.0 | 2020-10-04 00:00:00 UTC | These 3 Value Stocks are Absurdly Cheap Right Now | ABT | https://www.nasdaq.com/articles/these-3-value-stocks-are-absurdly-cheap-right-now-2020-10-04 | nan | nan | As most stock market observers know, the indexes have recently reached record highs. Nonetheless, individual stocks often experience their own bull and bear swings independent of the indexes -- so even during times like these, investors can still find value stocks.
Many of the stocks currently on sale probably should trade at higher valuations -- and their prices could start to rise as more investors begin to recognize their value. Stocks such as AbbVie (NYSE: ABBV), Prudential Financial (NYSE: PRU), and Qualcomm (NASDAQ: QCOM) offer such potential.
AbbVie
Once the pharma division of Abbott Laboratories, AbbVie has bolstered its fortunes primarily with revenues from the sale of the world's best-selling drug, Humira, since becoming an independent company in 2013. The stock has seen a prolonged slump as Humira's patents have expired in Europe and its U.S. expirations near (they're due in 2023). The market didn't respond well to its purchase of Allergan, either, which it completed in May.
However, one might wonder whether AbbVie is in better shape than its valuation would indicate. AbbVie sells for a forward P/E of about 7 despite profit growth projections of 17% this year and 16% in fiscal 2021. Moreover, this year's annual dividend of $4.72 per share yields approximately 5.4%. Also, due to its past ties to Abbott, it is a Dividend Aristocrat, which strongly indicates future annual payout hikes will probably continue.
Additionally, the company has developed and acquired other revenue sources that can replace its lost revenue from Humira. Cancer treatments Imbruvica and Venclexta are now delivering the company's fastest growth. Furthermore, the drugs acquired from the Allergan merger, including Botox and Restasis, should help boost the bottom line. Some also believe a new Allergan medication for bipolar disorder, called Vraylar, could turn into a blockbuster drug.
Given its array of treatments, AbbVie should easily replace the lost revenue from Humira. Additionally, with a low valuation, impressive profit growth, and a generous dividend, AbbVie should show profits for investors for years to come.
Image source: Getty Images.
Prudential
Prudential sells financial products geared toward insurance, wealth management, and retirement, and the company has lost about one-third of its value in 2020 because of the coronavirus pandemic. Unlike many stocks, it has not fully recovered from the bear market.
This may have created a significant investment opportunity. Due to the drop, Prudential stock trades at a forward price-to-earnings multiple of less than 6. Admittedly, this is less of a bargain than it first appears, as its average forward P/E ratio for the past five years stands at about 8. Part of this relates to Prudential's stagnant profit growth -- analysts forecast earnings will fall 20% this year before recovering by 24% in 2021. Currently, they remain below 2015 levels.
Nonetheless, this year's annual dividend of $4.40 per share yields about 7%, and the company has increased it every year since 2009. Additionally, with analysts predicting earnings of $9.38 per share for the year, the payout is easily affordable.
Investors should not expect fast growth from this company. However, a juicy dividend yield with a track record of payout hikes should serve income investors well. Moreover, even if its forward multiple only returns to its five-year average, investors could also see a significant return from stock appreciation alone.
Qualcomm
This maker of wireless chipsets has a forward P/E ratio of about 20, but while it may seem overpriced for a "value stock" at first glance, it's poised to deliver impressive returns. One thing to note is that much of the company's revenue comes from China and a business relationship with Huawei, which is a significant negative in the current political climate.
Still, by next year, analysts forecast Qualcomm's earnings will grow by 64%. This is in line with the findings of Grand View Research, which has predicted that the global wireless chipset market will experience a compound annual growth rate (CAGR) of more than 63% through 2027. With consumers beginning to buy 5G phones, the upgrade cycle has already started.
Moreover, most every 5G phone produced in the world will probably have a Qualcomm chipset. Legal attempts to curtail this Qualcomm "monopoly" have failed. Though Apple and others are probably working on a competing product, Qualcomm will likely dominate this business for the foreseeable future.
Additionally, investors could see further benefit from Qualcomm's dividend. The annual payout of $2.60 per share yields 2.2%, and it's risen almost every year since payouts began in 2010. Over time, this could mean an increasing cash stream along with a rising stock price as the world upgrades to 5G.
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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. | Qualcomm This maker of wireless chipsets has a forward P/E ratio of about 20, but while it may seem overpriced for a "value stock" at first glance, it's poised to deliver impressive returns. One thing to note is that much of the company's revenue comes from China and a business relationship with Huawei, which is a significant negative in the current political climate. This is in line with the findings of Grand View Research, which has predicted that the global wireless chipset market will experience a compound annual growth rate (CAGR) of more than 63% through 2027. | Additionally, with a low valuation, impressive profit growth, and a generous dividend, AbbVie should show profits for investors for years to come. Prudential Prudential sells financial products geared toward insurance, wealth management, and retirement, and the company has lost about one-third of its value in 2020 because of the coronavirus pandemic. Still, by next year, analysts forecast Qualcomm's earnings will grow by 64%. | Nonetheless, individual stocks often experience their own bull and bear swings independent of the indexes -- so even during times like these, investors can still find value stocks. Additionally, with a low valuation, impressive profit growth, and a generous dividend, AbbVie should show profits for investors for years to come. 10 stocks we like better than Qualcomm When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | Nonetheless, this year's annual dividend of $4.40 per share yields about 7%, and the company has increased it every year since 2009. Qualcomm This maker of wireless chipsets has a forward P/E ratio of about 20, but while it may seem overpriced for a "value stock" at first glance, it's poised to deliver impressive returns. See the 10 stocks | 2d15031e-b80d-4d60-b634-f7845bcafe18 |
32408.0 | 2020-10-04 00:00:00 UTC | Abbott Labs' New Coronavirus Diagnostic Will Reshape the Testing Market | ABT | https://www.nasdaq.com/articles/abbott-labs-new-coronavirus-diagnostic-will-reshape-the-testing-market-2020-10-04 | nan | nan | Abbott Laboratories (NYSE: ABT) produces a handful of different diagnostic tests for the coronavirus, but that hasn't stopped it from working to innovate and create new ones. Late in August, Abbott announced its new BinaxNOW COVID-19 Antigen Card diagnostic, which promises to deliver results in 15 minutes for as little as $5 per test. Complete with a smartphone app that lets consumers show off their test results in real time, Abbott's new assay has already gotten the green light from regulatory authorities, so it's ready for sale.
The test has three key advantages that may end up making it the dominant rapid diagnostic in the coronavirus testing market. First, it's exceptionally easy for healthcare professionals to use, and it doesn't require any fancy clinical hardware to process. Second, Abbott's smartphone app is tightly integrated with the test, allowing for auditable proof of non-infection. Finally, the BinaxNOW test is highly sensitive and highly reliable, even though it's inexpensive and quick.
For coronavirus investors, each of these advantages bears closer inspection to understand why it's relevant to Abbott's position in the market.
Image source: Getty Images.
Ease of use opens the door for new testing strategies
With a typical diagnostic coronavirus test, laboratory hardware is necessary to analyze samples from patients. This is true whether it's a rapid test or whether it's intended to take several hours to process. But this isn't the case with the BinaxNOW. Nearly everything providers need is included on a small test card the size of a credit card. To perform the test, clinicians take a nasal swab from the patient, add an extraction reagent to a slot on the test card, and then place the swab into the test card. Fifteen minutes later, they examine the card, looking for the telltale band of color that would indicate a positive result, like in a pregnancy test.Â
In short, Abbott's test requires very little hands-on time for healthcare workers, and it doesn't take any time in the laboratory to process. This opens the door to having testing stations without any clinical infrastructure, like at the entrance of a theater or workplace. That's not just significantly more convenient for everyone involved, it also opens up a new frontier in the coronavirus diagnostic market -- one Abbott is the first in line to exploit.Â
Tracking test results will be good for business
Abbott is keen to expand its presence in the diagnostic market by getting consumers to buy into its testing ecosystem. Because Abbott isn't marketing its BinaxNOW test directly to consumers, it offers something else to get them on board: a test-result tracking application. Though Abbott isn't the first company to link coronavirus test results to a mobile app, it's the first in the U.S. to provide such a seamless degree of integration with the test itself.
With the smartphone application, consumers scan a QR code on the test card to link their test results to the app. Next, they can display their (hopefully negative) test results on demand as needed, represented as a new QR code. The QR code can then be scanned by anyone who wants to confirm that the person's test came back negative. This means that Abbott's test is all the better positioned for point-of-use scenarios, like before boarding an airplane or entering an event where social distancing isn't possible.
When paired with its inexpensive cost, rapid turnaround time, and reliable results, the BinaxNOW has no true peer among the current crop of coronavirus diagnostics made by Abbott's competitors. Indeed, by combining an all-around great, rapid diagnostic with digital results tracking and easy third-party verification, Abbott has created a product that could open the door for a return to a semblance of normalcy in some contexts.Â
Investors looking to benefit from this opportunity have plenty of time to act. Abbott only has the manufacturing capacity to produce 50 million of the BinaxNOW tests in October, so it will take a couple more months before the full revenue impact will be visible. In the meantime, keep an eye out for any announcements about future innovations based on the BinaxNOW platform. In particular, if Abbott can remove the need for a healthcare worker to take a nasal swab, they'll turn a great diagnostic product into an unbeatable one.
10 stocks we like better than Abbott Laboratories
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Alex Carchidi has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories (NYSE: ABT) produces a handful of different diagnostic tests for the coronavirus, but that hasn't stopped it from working to innovate and create new ones. Complete with a smartphone app that lets consumers show off their test results in real time, Abbott's new assay has already gotten the green light from regulatory authorities, so it's ready for sale. When paired with its inexpensive cost, rapid turnaround time, and reliable results, the BinaxNOW has no true peer among the current crop of coronavirus diagnostics made by Abbott's competitors. | Abbott Laboratories (NYSE: ABT) produces a handful of different diagnostic tests for the coronavirus, but that hasn't stopped it from working to innovate and create new ones. Ease of use opens the door for new testing strategies With a typical diagnostic coronavirus test, laboratory hardware is necessary to analyze samples from patients. With the smartphone application, consumers scan a QR code on the test card to link their test results to the app. | Abbott Laboratories (NYSE: ABT) produces a handful of different diagnostic tests for the coronavirus, but that hasn't stopped it from working to innovate and create new ones. To perform the test, clinicians take a nasal swab from the patient, add an extraction reagent to a slot on the test card, and then place the swab into the test card. That's not just significantly more convenient for everyone involved, it also opens up a new frontier in the coronavirus diagnostic market -- one Abbott is the first in line to exploit. Tracking test results will be good for business Abbott is keen to expand its presence in the diagnostic market by getting consumers to buy into its testing ecosystem. | Abbott Laboratories (NYSE: ABT) produces a handful of different diagnostic tests for the coronavirus, but that hasn't stopped it from working to innovate and create new ones. Because Abbott isn't marketing its BinaxNOW test directly to consumers, it offers something else to get them on board: a test-result tracking application. With the smartphone application, consumers scan a QR code on the test card to link their test results to the app. | ad689486-6107-450e-a391-92493dff33ff |
32409.0 | 2020-10-04 00:00:00 UTC | 3 Strong Dividend Stocks That Should Beat the Market Over the Long Run | ABT | https://www.nasdaq.com/articles/3-strong-dividend-stocks-that-should-beat-the-market-over-the-long-run-2020-10-04 | nan | nan | Some investors buy dividend stocks for only their dividends. There's nothing wrong with that, especially when you're primarily seeking steady income. Any growth generated by the stocks is just an added bonus.
But are there good stocks to buy that provide strong dividends and generate sufficient growth to beat the market? Absolutely. Here are three that are already doing it and should be able to do so over the long run.
Image source: Getty Images.
1. Abbott Laboratories
Abbott Laboratories (NYSE: ABT) isn't your run-of-the-mill boring dividend stock. It's a Dividend Aristocrat with 48 consecutive years of dividend increases under its belt. Calvin Coolidge had just become president of the U.S. the last time Abbott didn't pay a dividend.Â
The healthcare stock is on a roll so far in 2020 thanks in large part to Abbott's COVID-19 tests. Abbott has received emergency use authorization from the U.S. Food and Drug Administration for six such tests. The company's BinaxNOW COVID-19 Ag Card is especially viewed as a game changer because of its low cost, high accuracy, and speedy results.Â
Diagnostic tests, in general, should continue to drive growth for Abbott even after the pandemic is over. The company also should enjoy strong long-term sales growth for many of its other products, including its Freestyle Libre 2 continuous glucose monitoring system.
Wall Street analysts project that Abbott will increase its earnings by an average of nearly 15% over the next five years. This level of growth, combined with the company's steadily increasing dividend, should enable Abbott to handily beat the overall stock market for years to come.
2. Brookfield Renewable
Brookfield Renewable (NYSE: BEP) (NYSE: BEPC) uses the term distributions to refer to what other companies would call dividends. Whatever the name, distributions have been growing nicely -- with a 6% compound annual growth rate over the last two decades and a yield that's now well over 3%.
My Motley Fool colleague Matt DiLallo recently picked Brookfield Renewable as his top renewable energy stock to buy right now. I completely agree. The stock has definitely been a big winner this year so far, with shares up more than 40% year to date.
Brookfield Renewable has plenty of tailwinds that should keep its momentum going. Countries across the world and big states in the U.S. have a long way to go to meet their carbon reduction goals. At the same time, wind and solar energy prices have plunged in recent years, making these renewable energy sources significantly cheaper than fossil fuel alternatives. Those cost advantages will only grow over the new few years.
The combination of Brookfield Renewable's existing development pipeline and its built-in inflation adjustments on current contracts should enable the company to deliver organic cash flow growth of between 6% and 11% annually. In addition, Brookfield Renewable expects acquisitions to boost its growth by around 5% per year. Even at the low end of this range, Brookfield Renewable should be able to generate market-beating total returns inclusive of distributions.
3. Innovative Industrial Properties
Innovative Industrial Properties (NYSE: IIPR) is benefiting from another kind of "green revolution." In IIP's case, it's the booming U.S. cannabis market. IIP ranks as the leading cannabis-focused real estate investment trust (REIT).
The stock has been an even bigger winner than Abbott and Brookfield Renewable in 2020, soaring more than 60%. IIP achieved this success by simply adding more properties to its portfolio and immediately leasing each new property to medical cannabis operators.
As a REIT, IIP must distribute at least 90% of its taxable income to shareholders as dividends. The company's remarkable growth has fueled an equally impressive dividend increase of 368% over the last three years. IIP's dividend yield currently stands at nearly 3.8%.
Can IIP keep up its winning ways? I think so. All it needs to do is continue buying and leasing new properties. That should be a relatively easy task with the U.S. cannabis market projected to double over the next four years. I anticipate that IIP could double your money even sooner, thanks to the company's strong growth prospects combined with its rising dividend.
10 stocks we like better than Abbott Laboratories
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Abbott Laboratories wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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Keith Speights owns shares of Brookfield Renewable Inc., Brookfield Renewable Partners L.P., and Innovative Industrial Properties. The Motley Fool owns shares of and recommends Innovative Industrial Properties. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) isn't your run-of-the-mill boring dividend stock. The company's BinaxNOW COVID-19 Ag Card is especially viewed as a game changer because of its low cost, high accuracy, and speedy results. Diagnostic tests, in general, should continue to drive growth for Abbott even after the pandemic is over. This level of growth, combined with the company's steadily increasing dividend, should enable Abbott to handily beat the overall stock market for years to come. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) isn't your run-of-the-mill boring dividend stock. This level of growth, combined with the company's steadily increasing dividend, should enable Abbott to handily beat the overall stock market for years to come. Innovative Industrial Properties Innovative Industrial Properties (NYSE: IIPR) is benefiting from another kind of "green revolution." | Abbott Laboratories Abbott Laboratories (NYSE: ABT) isn't your run-of-the-mill boring dividend stock. This level of growth, combined with the company's steadily increasing dividend, should enable Abbott to handily beat the overall stock market for years to come. My Motley Fool colleague Matt DiLallo recently picked Brookfield Renewable as his top renewable energy stock to buy right now. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) isn't your run-of-the-mill boring dividend stock. My Motley Fool colleague Matt DiLallo recently picked Brookfield Renewable as his top renewable energy stock to buy right now. The stock has definitely been a big winner this year so far, with shares up more than 40% year to date. | a984f3e8-6f33-4bc4-898b-7cce54ad2607 |
32410.0 | 2020-10-02 00:00:00 UTC | Why DexCom Stock Is Slipping Today | ABT | https://www.nasdaq.com/articles/why-dexcom-stock-is-slipping-today-2020-10-02 | nan | nan | What happened
Shares of DexCom (NASDAQ: DXCM) were slipping 6.3% lower as of 11:29 a.m. EDT on Friday. The decline came after Wells Fargo analyst Larry Biegelsen downgraded the stock to underweight from equal weight and cut his price target to $350 from $420.
So what
Analysts routinely downgrade stocks. Sometimes they're right, and sometimes they're wrong. The main thing for investors to understand is why an analyst formed a more negative opinion.
Image source: Getty Images.
In this case, Biegelsen is concerned about increased competition for DexCom's G6 continuous glucose monitoring (CGM) system. Abbott Labs (NYSE: ABT) recently won approval of its Freestyle Libre 3 CGM in Europe. Abbott's device is priced at less than half that of DexCom's G6. Biegelsen views this as problematic for DexCom since Libre 3 closes much of the functionality gap with the G6 system.
The Wells Fargo analyst's reasoning makes sense. However, the CGM market is growing so rapidly that DexCom should continue to enjoy momentum for the G6 system. More importantly, the company has its own new CGM product -- G7 -- on the way.
Now what
It remains to be seen how much of an impact Abbott's Libre 3 will make on DexCom's G6 sales. The big question for investors is how long it will be before DexCom launches its G7 system. CEO Kevin Sayer stated in the company's Q2 conference call that there won't be a limited launch of the new product this year as some expected. The COVID-19 pandemic has pushed back DexCom's timelines for the G7. The healthcare stock could remain volatile until more clarity about the G7 launch timing is available.
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Keith Speights has no position in any of the stocks mentioned. The Motley Fool recommends DexCom. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Labs (NYSE: ABT) recently won approval of its Freestyle Libre 3 CGM in Europe. The decline came after Wells Fargo analyst Larry Biegelsen downgraded the stock to underweight from equal weight and cut his price target to $350 from $420. In this case, Biegelsen is concerned about increased competition for DexCom's G6 continuous glucose monitoring (CGM) system. | Abbott Labs (NYSE: ABT) recently won approval of its Freestyle Libre 3 CGM in Europe. The decline came after Wells Fargo analyst Larry Biegelsen downgraded the stock to underweight from equal weight and cut his price target to $350 from $420. The Wells Fargo analyst's reasoning makes sense. | Abbott Labs (NYSE: ABT) recently won approval of its Freestyle Libre 3 CGM in Europe. The decline came after Wells Fargo analyst Larry Biegelsen downgraded the stock to underweight from equal weight and cut his price target to $350 from $420. 10 stocks we like better than DexCom When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | Abbott Labs (NYSE: ABT) recently won approval of its Freestyle Libre 3 CGM in Europe. Now what It remains to be seen how much of an impact Abbott's Libre 3 will make on DexCom's G6 sales. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | 6b8293f7-0229-47ca-b63c-7b771eb637a8 |
32411.0 | 2020-10-01 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-XPO Logistics, VerifyMe, Workday, LogicBio Therapeutics | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-xpo-logistics-verifyme-workday-logicbio-therapeutics-2020-10 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
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Wall Street's main indexes rose on the first day of the fourth quarter on Thursday as investors bet in favor of more fiscal stimulus after data showed the pace of a domestic economic rebound was slowing..N
At 12:36 ET, the Dow Jones Industrial Average .DJI was up 0.40% at 27,893.64. The S&P 500 .SPX was up 0.44% at 3,377.82 and the Nasdaq Composite .IXIC was up 0.85% at 11,262.442. The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc ETSY.O, up 7.2% ** L Brands Inc LB.N, up 4.5% ** Gap Inc GPS.N, up 4.3% The top three S&P 500 .PL.INX percentage losers: ** Valero Energy Corp VLO.N, down 7.8% ** Halliburton Co HAL.N, down 6.5% ** Abiomed Inc ABMD.O, down 6.1% The top three NYSE .PG.N percentage gainers: ** Amer Eq Inv Life AEL.N, up 39% ** Container Store Group Inc TCS.N, up 16.3% ** SailPoint Technologies Holdings Inc SAIL.N, up 13.5% The top three NYSE .PL.N percentage losers: ** Bluegreen Vacations Holding Corp BVH.N, down 22.3% ** Ambow Education Holding Ltd AMBO.N, down 21.2% ** Boqii Holding Ltd BQ.N, down 14.9% The top three Nasdaq .PG.O percentage gainers: ** Solid Biosciences Inc SLDB.O, up 111.3% ** Pulmonx Corp LUNG.O, up 107.2% ** Thryv Holdings Inc THRY.O, up 81.4% The top three Nasdaq .PL.O percentage losers: ** LogicBio Therapeutics Inc LOGC.O, down 32% ** Benitec Biopharma Inc BNTC.O, down 25.9% ** Kismet Acquisition One Corp KSMTU.O, down 21.5% ** LogicBio Therapeutics Inc LOGC.O: down 32.0%
BUZZ-Slumps on deep-discounted stock offering
** XPO Logistics Inc XPO.N: up 1.4%
BUZZ-Up after co's app downloads doubles
** VerifyMe Inc VRME.O: up 2.6%
BUZZ-Jumps on reviewing potential acquisition opportunities
** Workday Inc WDAY.O: up 1.5%
BUZZ-Rises as Citigroup upgrades on growth opportunities
** Triton International Ltd TRTN.N: down 6.6%
BUZZ-Drops on secondary stock offering by selling shareholders
** PAR Technology Corp PAR.N: down 11.1%
BUZZ-Slides on equity offering
** Genfit SA GNFT.O: down 15.9%
BUZZ-Drops on workforce reduction, bigger loss
** Draftkings Inc DKNG.O: up 5.1%
BUZZ-Hits record high on sport betting deal with Philadelphia Eagles
** Wells Fargo & Co WFC.N: down 0.7%
** Citigroup Inc C.N: down 0.5%
** Goldman Sachs Group Inc GS.N: down 0.1%
** Morgan Stanley MS.N: down 0.5%
** Bank of America Corp BAC.N: down 0.1%
BUZZ-U.S. big banks fall as U.S. Fed to extend curbs on capital distribution
** Lixiang Education Holding Co Ltd LXEH.O: down 17.3%
BUZZ-Shares plunge nearly 25% in Nasdaq debut
** Exxon Mobil Corp XOM.N: down 3.4%
** Chevron Corp CVX.N: down 1.6%
** TechnipFMC PLC FTI.N: down 1.9%
** Halliburton Co HAL.N: down 6.5%
** Marathon Petroleum Corp MPC.N: down 5.4%
** Phillips 66 PSX.N: down 3.4%
** Diamondback Energy Inc FANG.O: down 4.5%
** Marathon Oil Corp MRO.N: down 3.7%
** ConocoPhillips COP.N: down 2.2%
** Apache Corp APA.O: down 4.1%
** Devon Energy Corp DVN.N: down 2.4%
** Occidental Petroleum Corp OXY.N: down 3.8%
** Patterson-UTI Energy Inc PTEN.O: down 6.7%
BUZZ-U.S. energy shares slide on 5% drop in U.S. crude
** Textron Inc TXT.N: down 2.3%
BUZZ-Falls as Cowen downgrades on bleak recovery prospects
** Datadog Inc DDOG.O: up 1.0%
BUZZ-Rises as brokerage hikes PT to Street high on Microsoft partnership
** AMAG Pharmaceuticals Inc AMAG.O: up 44.6%
BUZZ-Surges as Apollo-backed Covis to buy co for $647 mln
** CareDx Inc CDNA.O: up 6.6%
BUZZ-Reaches record high on Medicare coverage decision for AlloSure heart
** Amazon.com Inc AMZN.O: up 1.3%
BUZZ-Pivotal says ad business underappreciated, boosts PT to Street high
** Houghton Mifflin Harcourt Co HMHC.O: up 10.7%
BUZZ-Soars on restructuring plan; to slash 22% jobs
** Cyclerion Therapeutics Inc CYCN.O: up 4.4%
BUZZ-Up on sickle cell, nervous system disease study updates
** Skyworks Solutions Inc SWKS.O: up 1.8%
BUZZ-Cowen hikes PT as OEMs seek to fill Huawei void
** VAALCO Energy Inc EGY.N: up 11.4%
BUZZ-Jumps on Q3 production outlook
** Bed Bath & Beyond Inc BBBY.O: up 33.4%
BUZZ-Surges as co swings to quarterly profit
** Abbott Laboratories ABT.N: up 0.6%
BUZZ-Up after Air Canada says finalizing order for 25,000 COVID-19 tests
** Pennsylvania Real Estate Investment Trust: PEI.N: up 1.0%
BUZZ-Up on securing one-month extension to liquidity facility
** Advanced Emissions Solutions Inc ADES.O: up 25.4%
BUZZ-Surges on 15-year carbon supply contract
** Enlivex Therapeutics Ltd ENLV.O: up 45.8%
BUZZ-Surges on positive data from potential COVID-19 treatment
** Gridsum Holding Inc GSUM.O: up 35.5%
BUZZ-Soars on take-private offer
** American Equity Investment Life Holding Co AEL.N: up 38.9%
BUZZ-Jumps on report of Athene, MassMutual $3-bln-plus takeover bid
** Papa John's International Inc PZZA.O: up 2.4%
BUZZ-KeyBanc starts with 'overweight' rating
** Genworth Financial Inc GNW.N: down 3.4%
BUZZ-Drops on extension of merger agreement with Oceanwide
** Zillow Group Inc ZG.O: up 4.0%
BUZZ-Brokerages hike PTs on growth prospects
** Callon Petroleum Co CPE.N: up 2.7%
BUZZ-Jumps after signing asset monetization deals
** Solid Biosciences Inc SLDB.O: up 111.3%
BUZZ-Surges after FDA allows gene therapy trial to resumeUSN
** American Airlines Group Inc AAL.O: up 1.5%
** United Airlines Holdings Inc UAL.O: up 0.2%
** Delta Air Line Inc DAL.N: up 0.7%
** Southwest Airlines Co LUV.N: up 0.1%
** JetBlue Airways Corp JBLU.N: up 0.5%
BUZZ-U.S. airlines: Up on talks of federal aid extension
** Boeing Co BA.N: up 1.4%
BUZZ-Up after FAA conducts 737 MAX test flight
** ProPhase Labs Inc PRPH.O: up 9.8%
BUZZ-Up on plans to acquire CLIA certified labs for COVID-19 testing
** Lonestar Resources LONE.O: down 12.3%
BUZZ-Slumps after bankruptcy filing
** Tesla Inc TSLA.O: up 2.9%
BUZZ-Set to open at 1-1/2 week high, cuts China Model 3 price
** AMAG Pharmaceuticals Inc AMAG.O: up 44.6%
BUZZ-Surges on report of potential takeover deal
** PepsiCo Inc PEP.O: up 0.9%
BUZZ-Gains on Q3 results, upbeat outlook as at-home snacking jumps
** Alibaba Group Holding Ltd BABA.N: down 1.4%
BUZZ-Up as Needham hikes PT on growth prospects
** LogicBio Therapeutics Inc LOGC.O: down 32.0%
BUZZ-Slumps on proposed stock offering
** Mastercard Inc MA.N: up 1.5%
BUZZ-JPMorgan hikes PT and estimates on positive growth trends
** Selecta Biosciences Inc SELB.O: down 32.9%
BUZZ-Plunges as drug fails to meet trial main goal
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 1.18%
Consumer Discretionary
.SPLRCD
up 1.25%
Consumer Staples
.SPLRCS
up 0.57%
Energy
.SPNY
down 2.95%
Financial
.SPSY
up 0.36%
Health
.SPXHC
down 0.19%
Industrial
.SPLRCI
up 0.29%
Information Technology
.SPLRCT
up 0.68%
Materials
.SPLRCM
down 0.05%
Real Estate
.SPLRCR
up 0.92%
Utilities
.SPLRCU
up 1.06%
(Compiled by Niket Nishant in Bengaluru)
((Niket.Nishant@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc ETSY.O, up 7.2% ** L Brands Inc LB.N, up 4.5% ** Gap Inc GPS.N, up 4.3% The top three S&P 500 .PL.INX percentage losers: ** Valero Energy Corp VLO.N, down 7.8% ** Halliburton Co HAL.N, down 6.5% ** Abiomed Inc ABMD.O, down 6.1% The top three NYSE .PG.N percentage gainers: ** Amer Eq Inv Life AEL.N, up 39% ** Container Store Group Inc TCS.N, up 16.3% ** SailPoint Technologies Holdings Inc SAIL.N, up 13.5% The top three NYSE .PL.N percentage losers: ** Bluegreen Vacations Holding Corp BVH.N, down 22.3% ** Ambow Education Holding Ltd AMBO.N, down 21.2% ** Boqii Holding Ltd BQ.N, down 14.9% The top three Nasdaq .PG.O percentage gainers: ** Solid Biosciences Inc SLDB.O, up 111.3% ** Pulmonx Corp LUNG.O, up 107.2% ** Thryv Holdings Inc THRY.O, up 81.4% The top three Nasdaq .PL.O percentage losers: ** LogicBio Therapeutics Inc LOGC.O, down 32% ** Benitec Biopharma Inc BNTC.O, down 25.9% ** Kismet Acquisition One Corp KSMTU.O, down 21.5% ** LogicBio Therapeutics Inc LOGC.O: down 32.0% BUZZ-Slumps on deep-discounted stock offering ** XPO Logistics Inc XPO.N: up 1.4% BUZZ-Up after co's app downloads doubles ** VerifyMe Inc VRME.O: up 2.6% BUZZ-Jumps on reviewing potential acquisition opportunities ** Workday Inc WDAY.O: up 1.5% BUZZ-Rises as Citigroup upgrades on growth opportunities ** Triton International Ltd TRTN.N: down 6.6% BUZZ-Drops on secondary stock offering by selling shareholders ** PAR Technology Corp PAR.N: down 11.1% BUZZ-Slides on equity offering ** Genfit SA GNFT.O: down 15.9% BUZZ-Drops on workforce reduction, bigger loss ** Draftkings Inc DKNG.O: up 5.1% BUZZ-Hits record high on sport betting deal with Philadelphia Eagles ** Wells Fargo & Co WFC.N: down 0.7% ** Citigroup Inc C.N: down 0.5% ** Goldman Sachs Group Inc GS.N: down 0.1% ** Morgan Stanley MS.N: down 0.5% ** Bank of America Corp BAC.N: down 0.1% BUZZ-U.S. big banks fall as U.S. Fed to extend curbs on capital distribution ** Lixiang Education Holding Co Ltd LXEH.O: down 17.3% BUZZ-Shares plunge nearly 25% in Nasdaq debut ** Exxon Mobil Corp XOM.N: down 3.4% ** Chevron Corp CVX.N: down 1.6% ** TechnipFMC PLC FTI.N: down 1.9% ** Halliburton Co HAL.N: down 6.5% ** Marathon Petroleum Corp MPC.N: down 5.4% ** Phillips 66 PSX.N: down 3.4% ** Diamondback Energy Inc FANG.O: down 4.5% ** Marathon Oil Corp MRO.N: down 3.7% ** ConocoPhillips COP.N: down 2.2% ** Apache Corp APA.O: down 4.1% ** Devon Energy Corp DVN.N: down 2.4% ** Occidental Petroleum Corp OXY.N: down 3.8% ** Patterson-UTI Energy Inc PTEN.O: down 6.7% BUZZ-U.S. energy shares slide on 5% drop in U.S. crude ** Textron Inc TXT.N: down 2.3% BUZZ-Falls as Cowen downgrades on bleak recovery prospects ** Datadog Inc DDOG.O: up 1.0% BUZZ-Rises as brokerage hikes PT to Street high on Microsoft partnership ** AMAG Pharmaceuticals Inc AMAG.O: up 44.6% BUZZ-Surges as Apollo-backed Covis to buy co for $647 mln ** CareDx Inc CDNA.O: up 6.6% BUZZ-Reaches record high on Medicare coverage decision for AlloSure heart ** Amazon.com Inc AMZN.O: up 1.3% BUZZ-Pivotal says ad business underappreciated, boosts PT to Street high ** Houghton Mifflin Harcourt Co HMHC.O: up 10.7% BUZZ-Soars on restructuring plan; to slash 22% jobs ** Cyclerion Therapeutics Inc CYCN.O: up 4.4% BUZZ-Up on sickle cell, nervous system disease study updates ** Skyworks Solutions Inc SWKS.O: up 1.8% BUZZ-Cowen hikes PT as OEMs seek to fill Huawei void ** VAALCO Energy Inc EGY.N: up 11.4% BUZZ-Jumps on Q3 production outlook ** Bed Bath & Beyond Inc BBBY.O: up 33.4% BUZZ-Surges as co swings to quarterly profit ** Abbott Laboratories ABT.N: up 0.6% BUZZ-Up after Air Canada says finalizing order for 25,000 COVID-19 tests ** Pennsylvania Real Estate Investment Trust: PEI.N: up 1.0% BUZZ-Up on securing one-month extension to liquidity facility ** Advanced Emissions Solutions Inc ADES.O: up 25.4% BUZZ-Surges on 15-year carbon supply contract ** Enlivex Therapeutics Ltd ENLV.O: up 45.8% BUZZ-Surges on positive data from potential COVID-19 treatment ** Gridsum Holding Inc GSUM.O: up 35.5% BUZZ-Soars on take-private offer ** American Equity Investment Life Holding Co AEL.N: up 38.9% BUZZ-Jumps on report of Athene, MassMutual $3-bln-plus takeover bid ** Papa John's International Inc PZZA.O: up 2.4% BUZZ-KeyBanc starts with 'overweight' rating ** Genworth Financial Inc GNW.N: down 3.4% BUZZ-Drops on extension of merger agreement with Oceanwide ** Zillow Group Inc ZG.O: up 4.0% BUZZ-Brokerages hike PTs on growth prospects ** Callon Petroleum Co CPE.N: up 2.7% BUZZ-Jumps after signing asset monetization deals ** Solid Biosciences Inc SLDB.O: up 111.3% BUZZ-Surges after FDA allows gene therapy trial to resumeUSN ** American Airlines Group Inc AAL.O: up 1.5% ** United Airlines Holdings Inc UAL.O: up 0.2% ** Delta Air Line Inc DAL.N: up 0.7% ** Southwest Airlines Co LUV.N: up 0.1% ** JetBlue Airways Corp JBLU.N: up 0.5% BUZZ-U.S. airlines: Up on talks of federal aid extension ** Boeing Co BA.N: up 1.4% BUZZ-Up after FAA conducts 737 MAX test flight ** ProPhase Labs Inc PRPH.O: up 9.8% BUZZ-Up on plans to acquire CLIA certified labs for COVID-19 testing ** Lonestar Resources LONE.O: down 12.3% BUZZ-Slumps after bankruptcy filing ** Tesla Inc TSLA.O: up 2.9% BUZZ-Set to open at 1-1/2 week high, cuts China Model 3 price ** AMAG Pharmaceuticals Inc AMAG.O: up 44.6% BUZZ-Surges on report of potential takeover deal ** PepsiCo Inc PEP.O: up 0.9% BUZZ-Gains on Q3 results, upbeat outlook as at-home snacking jumps ** Alibaba Group Holding Ltd BABA.N: down 1.4% BUZZ-Up as Needham hikes PT on growth prospects ** LogicBio Therapeutics Inc LOGC.O: down 32.0% BUZZ-Slumps on proposed stock offering ** Mastercard Inc MA.N: up 1.5% BUZZ-JPMorgan hikes PT and estimates on positive growth trends ** Selecta Biosciences Inc SELB.O: down 32.9% BUZZ-Plunges as drug fails to meet trial main goal The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes rose on the first day of the fourth quarter on Thursday as investors bet in favor of more fiscal stimulus after data showed the pace of a domestic economic rebound was slowing..N At 12:36 ET, the Dow Jones Industrial Average .DJI was up 0.40% at 27,893.64. up 1.06% (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc ETSY.O, up 7.2% ** L Brands Inc LB.N, up 4.5% ** Gap Inc GPS.N, up 4.3% The top three S&P 500 .PL.INX percentage losers: ** Valero Energy Corp VLO.N, down 7.8% ** Halliburton Co HAL.N, down 6.5% ** Abiomed Inc ABMD.O, down 6.1% The top three NYSE .PG.N percentage gainers: ** Amer Eq Inv Life AEL.N, up 39% ** Container Store Group Inc TCS.N, up 16.3% ** SailPoint Technologies Holdings Inc SAIL.N, up 13.5% The top three NYSE .PL.N percentage losers: ** Bluegreen Vacations Holding Corp BVH.N, down 22.3% ** Ambow Education Holding Ltd AMBO.N, down 21.2% ** Boqii Holding Ltd BQ.N, down 14.9% The top three Nasdaq .PG.O percentage gainers: ** Solid Biosciences Inc SLDB.O, up 111.3% ** Pulmonx Corp LUNG.O, up 107.2% ** Thryv Holdings Inc THRY.O, up 81.4% The top three Nasdaq .PL.O percentage losers: ** LogicBio Therapeutics Inc LOGC.O, down 32% ** Benitec Biopharma Inc BNTC.O, down 25.9% ** Kismet Acquisition One Corp KSMTU.O, down 21.5% ** LogicBio Therapeutics Inc LOGC.O: down 32.0% BUZZ-Slumps on deep-discounted stock offering ** XPO Logistics Inc XPO.N: up 1.4% BUZZ-Up after co's app downloads doubles ** VerifyMe Inc VRME.O: up 2.6% BUZZ-Jumps on reviewing potential acquisition opportunities ** Workday Inc WDAY.O: up 1.5% BUZZ-Rises as Citigroup upgrades on growth opportunities ** Triton International Ltd TRTN.N: down 6.6% BUZZ-Drops on secondary stock offering by selling shareholders ** PAR Technology Corp PAR.N: down 11.1% BUZZ-Slides on equity offering ** Genfit SA GNFT.O: down 15.9% BUZZ-Drops on workforce reduction, bigger loss ** Draftkings Inc DKNG.O: up 5.1% BUZZ-Hits record high on sport betting deal with Philadelphia Eagles ** Wells Fargo & Co WFC.N: down 0.7% ** Citigroup Inc C.N: down 0.5% ** Goldman Sachs Group Inc GS.N: down 0.1% ** Morgan Stanley MS.N: down 0.5% ** Bank of America Corp BAC.N: down 0.1% BUZZ-U.S. big banks fall as U.S. Fed to extend curbs on capital distribution ** Lixiang Education Holding Co Ltd LXEH.O: down 17.3% BUZZ-Shares plunge nearly 25% in Nasdaq debut ** Exxon Mobil Corp XOM.N: down 3.4% ** Chevron Corp CVX.N: down 1.6% ** TechnipFMC PLC FTI.N: down 1.9% ** Halliburton Co HAL.N: down 6.5% ** Marathon Petroleum Corp MPC.N: down 5.4% ** Phillips 66 PSX.N: down 3.4% ** Diamondback Energy Inc FANG.O: down 4.5% ** Marathon Oil Corp MRO.N: down 3.7% ** ConocoPhillips COP.N: down 2.2% ** Apache Corp APA.O: down 4.1% ** Devon Energy Corp DVN.N: down 2.4% ** Occidental Petroleum Corp OXY.N: down 3.8% ** Patterson-UTI Energy Inc PTEN.O: down 6.7% BUZZ-U.S. energy shares slide on 5% drop in U.S. crude ** Textron Inc TXT.N: down 2.3% BUZZ-Falls as Cowen downgrades on bleak recovery prospects ** Datadog Inc DDOG.O: up 1.0% BUZZ-Rises as brokerage hikes PT to Street high on Microsoft partnership ** AMAG Pharmaceuticals Inc AMAG.O: up 44.6% BUZZ-Surges as Apollo-backed Covis to buy co for $647 mln ** CareDx Inc CDNA.O: up 6.6% BUZZ-Reaches record high on Medicare coverage decision for AlloSure heart ** Amazon.com Inc AMZN.O: up 1.3% BUZZ-Pivotal says ad business underappreciated, boosts PT to Street high ** Houghton Mifflin Harcourt Co HMHC.O: up 10.7% BUZZ-Soars on restructuring plan; to slash 22% jobs ** Cyclerion Therapeutics Inc CYCN.O: up 4.4% BUZZ-Up on sickle cell, nervous system disease study updates ** Skyworks Solutions Inc SWKS.O: up 1.8% BUZZ-Cowen hikes PT as OEMs seek to fill Huawei void ** VAALCO Energy Inc EGY.N: up 11.4% BUZZ-Jumps on Q3 production outlook ** Bed Bath & Beyond Inc BBBY.O: up 33.4% BUZZ-Surges as co swings to quarterly profit ** Abbott Laboratories ABT.N: up 0.6% BUZZ-Up after Air Canada says finalizing order for 25,000 COVID-19 tests ** Pennsylvania Real Estate Investment Trust: PEI.N: up 1.0% BUZZ-Up on securing one-month extension to liquidity facility ** Advanced Emissions Solutions Inc ADES.O: up 25.4% BUZZ-Surges on 15-year carbon supply contract ** Enlivex Therapeutics Ltd ENLV.O: up 45.8% BUZZ-Surges on positive data from potential COVID-19 treatment ** Gridsum Holding Inc GSUM.O: up 35.5% BUZZ-Soars on take-private offer ** American Equity Investment Life Holding Co AEL.N: up 38.9% BUZZ-Jumps on report of Athene, MassMutual $3-bln-plus takeover bid ** Papa John's International Inc PZZA.O: up 2.4% BUZZ-KeyBanc starts with 'overweight' rating ** Genworth Financial Inc GNW.N: down 3.4% BUZZ-Drops on extension of merger agreement with Oceanwide ** Zillow Group Inc ZG.O: up 4.0% BUZZ-Brokerages hike PTs on growth prospects ** Callon Petroleum Co CPE.N: up 2.7% BUZZ-Jumps after signing asset monetization deals ** Solid Biosciences Inc SLDB.O: up 111.3% BUZZ-Surges after FDA allows gene therapy trial to resumeUSN ** American Airlines Group Inc AAL.O: up 1.5% ** United Airlines Holdings Inc UAL.O: up 0.2% ** Delta Air Line Inc DAL.N: up 0.7% ** Southwest Airlines Co LUV.N: up 0.1% ** JetBlue Airways Corp JBLU.N: up 0.5% BUZZ-U.S. airlines: Up on talks of federal aid extension ** Boeing Co BA.N: up 1.4% BUZZ-Up after FAA conducts 737 MAX test flight ** ProPhase Labs Inc PRPH.O: up 9.8% BUZZ-Up on plans to acquire CLIA certified labs for COVID-19 testing ** Lonestar Resources LONE.O: down 12.3% BUZZ-Slumps after bankruptcy filing ** Tesla Inc TSLA.O: up 2.9% BUZZ-Set to open at 1-1/2 week high, cuts China Model 3 price ** AMAG Pharmaceuticals Inc AMAG.O: up 44.6% BUZZ-Surges on report of potential takeover deal ** PepsiCo Inc PEP.O: up 0.9% BUZZ-Gains on Q3 results, upbeat outlook as at-home snacking jumps ** Alibaba Group Holding Ltd BABA.N: down 1.4% BUZZ-Up as Needham hikes PT on growth prospects ** LogicBio Therapeutics Inc LOGC.O: down 32.0% BUZZ-Slumps on proposed stock offering ** Mastercard Inc MA.N: up 1.5% BUZZ-JPMorgan hikes PT and estimates on positive growth trends ** Selecta Biosciences Inc SELB.O: down 32.9% BUZZ-Plunges as drug fails to meet trial main goal The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes rose on the first day of the fourth quarter on Thursday as investors bet in favor of more fiscal stimulus after data showed the pace of a domestic economic rebound was slowing..N At 12:36 ET, the Dow Jones Industrial Average .DJI was up 0.40% at 27,893.64. down 0.05% Real Estate | The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc ETSY.O, up 7.2% ** L Brands Inc LB.N, up 4.5% ** Gap Inc GPS.N, up 4.3% The top three S&P 500 .PL.INX percentage losers: ** Valero Energy Corp VLO.N, down 7.8% ** Halliburton Co HAL.N, down 6.5% ** Abiomed Inc ABMD.O, down 6.1% The top three NYSE .PG.N percentage gainers: ** Amer Eq Inv Life AEL.N, up 39% ** Container Store Group Inc TCS.N, up 16.3% ** SailPoint Technologies Holdings Inc SAIL.N, up 13.5% The top three NYSE .PL.N percentage losers: ** Bluegreen Vacations Holding Corp BVH.N, down 22.3% ** Ambow Education Holding Ltd AMBO.N, down 21.2% ** Boqii Holding Ltd BQ.N, down 14.9% The top three Nasdaq .PG.O percentage gainers: ** Solid Biosciences Inc SLDB.O, up 111.3% ** Pulmonx Corp LUNG.O, up 107.2% ** Thryv Holdings Inc THRY.O, up 81.4% The top three Nasdaq .PL.O percentage losers: ** LogicBio Therapeutics Inc LOGC.O, down 32% ** Benitec Biopharma Inc BNTC.O, down 25.9% ** Kismet Acquisition One Corp KSMTU.O, down 21.5% ** LogicBio Therapeutics Inc LOGC.O: down 32.0% BUZZ-Slumps on deep-discounted stock offering ** XPO Logistics Inc XPO.N: up 1.4% BUZZ-Up after co's app downloads doubles ** VerifyMe Inc VRME.O: up 2.6% BUZZ-Jumps on reviewing potential acquisition opportunities ** Workday Inc WDAY.O: up 1.5% BUZZ-Rises as Citigroup upgrades on growth opportunities ** Triton International Ltd TRTN.N: down 6.6% BUZZ-Drops on secondary stock offering by selling shareholders ** PAR Technology Corp PAR.N: down 11.1% BUZZ-Slides on equity offering ** Genfit SA GNFT.O: down 15.9% BUZZ-Drops on workforce reduction, bigger loss ** Draftkings Inc DKNG.O: up 5.1% BUZZ-Hits record high on sport betting deal with Philadelphia Eagles ** Wells Fargo & Co WFC.N: down 0.7% ** Citigroup Inc C.N: down 0.5% ** Goldman Sachs Group Inc GS.N: down 0.1% ** Morgan Stanley MS.N: down 0.5% ** Bank of America Corp BAC.N: down 0.1% BUZZ-U.S. big banks fall as U.S. Fed to extend curbs on capital distribution ** Lixiang Education Holding Co Ltd LXEH.O: down 17.3% BUZZ-Shares plunge nearly 25% in Nasdaq debut ** Exxon Mobil Corp XOM.N: down 3.4% ** Chevron Corp CVX.N: down 1.6% ** TechnipFMC PLC FTI.N: down 1.9% ** Halliburton Co HAL.N: down 6.5% ** Marathon Petroleum Corp MPC.N: down 5.4% ** Phillips 66 PSX.N: down 3.4% ** Diamondback Energy Inc FANG.O: down 4.5% ** Marathon Oil Corp MRO.N: down 3.7% ** ConocoPhillips COP.N: down 2.2% ** Apache Corp APA.O: down 4.1% ** Devon Energy Corp DVN.N: down 2.4% ** Occidental Petroleum Corp OXY.N: down 3.8% ** Patterson-UTI Energy Inc PTEN.O: down 6.7% BUZZ-U.S. energy shares slide on 5% drop in U.S. crude ** Textron Inc TXT.N: down 2.3% BUZZ-Falls as Cowen downgrades on bleak recovery prospects ** Datadog Inc DDOG.O: up 1.0% BUZZ-Rises as brokerage hikes PT to Street high on Microsoft partnership ** AMAG Pharmaceuticals Inc AMAG.O: up 44.6% BUZZ-Surges as Apollo-backed Covis to buy co for $647 mln ** CareDx Inc CDNA.O: up 6.6% BUZZ-Reaches record high on Medicare coverage decision for AlloSure heart ** Amazon.com Inc AMZN.O: up 1.3% BUZZ-Pivotal says ad business underappreciated, boosts PT to Street high ** Houghton Mifflin Harcourt Co HMHC.O: up 10.7% BUZZ-Soars on restructuring plan; to slash 22% jobs ** Cyclerion Therapeutics Inc CYCN.O: up 4.4% BUZZ-Up on sickle cell, nervous system disease study updates ** Skyworks Solutions Inc SWKS.O: up 1.8% BUZZ-Cowen hikes PT as OEMs seek to fill Huawei void ** VAALCO Energy Inc EGY.N: up 11.4% BUZZ-Jumps on Q3 production outlook ** Bed Bath & Beyond Inc BBBY.O: up 33.4% BUZZ-Surges as co swings to quarterly profit ** Abbott Laboratories ABT.N: up 0.6% BUZZ-Up after Air Canada says finalizing order for 25,000 COVID-19 tests ** Pennsylvania Real Estate Investment Trust: PEI.N: up 1.0% BUZZ-Up on securing one-month extension to liquidity facility ** Advanced Emissions Solutions Inc ADES.O: up 25.4% BUZZ-Surges on 15-year carbon supply contract ** Enlivex Therapeutics Ltd ENLV.O: up 45.8% BUZZ-Surges on positive data from potential COVID-19 treatment ** Gridsum Holding Inc GSUM.O: up 35.5% BUZZ-Soars on take-private offer ** American Equity Investment Life Holding Co AEL.N: up 38.9% BUZZ-Jumps on report of Athene, MassMutual $3-bln-plus takeover bid ** Papa John's International Inc PZZA.O: up 2.4% BUZZ-KeyBanc starts with 'overweight' rating ** Genworth Financial Inc GNW.N: down 3.4% BUZZ-Drops on extension of merger agreement with Oceanwide ** Zillow Group Inc ZG.O: up 4.0% BUZZ-Brokerages hike PTs on growth prospects ** Callon Petroleum Co CPE.N: up 2.7% BUZZ-Jumps after signing asset monetization deals ** Solid Biosciences Inc SLDB.O: up 111.3% BUZZ-Surges after FDA allows gene therapy trial to resumeUSN ** American Airlines Group Inc AAL.O: up 1.5% ** United Airlines Holdings Inc UAL.O: up 0.2% ** Delta Air Line Inc DAL.N: up 0.7% ** Southwest Airlines Co LUV.N: up 0.1% ** JetBlue Airways Corp JBLU.N: up 0.5% BUZZ-U.S. airlines: Up on talks of federal aid extension ** Boeing Co BA.N: up 1.4% BUZZ-Up after FAA conducts 737 MAX test flight ** ProPhase Labs Inc PRPH.O: up 9.8% BUZZ-Up on plans to acquire CLIA certified labs for COVID-19 testing ** Lonestar Resources LONE.O: down 12.3% BUZZ-Slumps after bankruptcy filing ** Tesla Inc TSLA.O: up 2.9% BUZZ-Set to open at 1-1/2 week high, cuts China Model 3 price ** AMAG Pharmaceuticals Inc AMAG.O: up 44.6% BUZZ-Surges on report of potential takeover deal ** PepsiCo Inc PEP.O: up 0.9% BUZZ-Gains on Q3 results, upbeat outlook as at-home snacking jumps ** Alibaba Group Holding Ltd BABA.N: down 1.4% BUZZ-Up as Needham hikes PT on growth prospects ** LogicBio Therapeutics Inc LOGC.O: down 32.0% BUZZ-Slumps on proposed stock offering ** Mastercard Inc MA.N: up 1.5% BUZZ-JPMorgan hikes PT and estimates on positive growth trends ** Selecta Biosciences Inc SELB.O: down 32.9% BUZZ-Plunges as drug fails to meet trial main goal The 11 major S&P 500 sectors: Communication Services up 1.18% Consumer Discretionary up 1.25% Consumer Staples | The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc ETSY.O, up 7.2% ** L Brands Inc LB.N, up 4.5% ** Gap Inc GPS.N, up 4.3% The top three S&P 500 .PL.INX percentage losers: ** Valero Energy Corp VLO.N, down 7.8% ** Halliburton Co HAL.N, down 6.5% ** Abiomed Inc ABMD.O, down 6.1% The top three NYSE .PG.N percentage gainers: ** Amer Eq Inv Life AEL.N, up 39% ** Container Store Group Inc TCS.N, up 16.3% ** SailPoint Technologies Holdings Inc SAIL.N, up 13.5% The top three NYSE .PL.N percentage losers: ** Bluegreen Vacations Holding Corp BVH.N, down 22.3% ** Ambow Education Holding Ltd AMBO.N, down 21.2% ** Boqii Holding Ltd BQ.N, down 14.9% The top three Nasdaq .PG.O percentage gainers: ** Solid Biosciences Inc SLDB.O, up 111.3% ** Pulmonx Corp LUNG.O, up 107.2% ** Thryv Holdings Inc THRY.O, up 81.4% The top three Nasdaq .PL.O percentage losers: ** LogicBio Therapeutics Inc LOGC.O, down 32% ** Benitec Biopharma Inc BNTC.O, down 25.9% ** Kismet Acquisition One Corp KSMTU.O, down 21.5% ** LogicBio Therapeutics Inc LOGC.O: down 32.0% BUZZ-Slumps on deep-discounted stock offering ** XPO Logistics Inc XPO.N: up 1.4% BUZZ-Up after co's app downloads doubles ** VerifyMe Inc VRME.O: up 2.6% BUZZ-Jumps on reviewing potential acquisition opportunities ** Workday Inc WDAY.O: up 1.5% BUZZ-Rises as Citigroup upgrades on growth opportunities ** Triton International Ltd TRTN.N: down 6.6% BUZZ-Drops on secondary stock offering by selling shareholders ** PAR Technology Corp PAR.N: down 11.1% BUZZ-Slides on equity offering ** Genfit SA GNFT.O: down 15.9% BUZZ-Drops on workforce reduction, bigger loss ** Draftkings Inc DKNG.O: up 5.1% BUZZ-Hits record high on sport betting deal with Philadelphia Eagles ** Wells Fargo & Co WFC.N: down 0.7% ** Citigroup Inc C.N: down 0.5% ** Goldman Sachs Group Inc GS.N: down 0.1% ** Morgan Stanley MS.N: down 0.5% ** Bank of America Corp BAC.N: down 0.1% BUZZ-U.S. big banks fall as U.S. Fed to extend curbs on capital distribution ** Lixiang Education Holding Co Ltd LXEH.O: down 17.3% BUZZ-Shares plunge nearly 25% in Nasdaq debut ** Exxon Mobil Corp XOM.N: down 3.4% ** Chevron Corp CVX.N: down 1.6% ** TechnipFMC PLC FTI.N: down 1.9% ** Halliburton Co HAL.N: down 6.5% ** Marathon Petroleum Corp MPC.N: down 5.4% ** Phillips 66 PSX.N: down 3.4% ** Diamondback Energy Inc FANG.O: down 4.5% ** Marathon Oil Corp MRO.N: down 3.7% ** ConocoPhillips COP.N: down 2.2% ** Apache Corp APA.O: down 4.1% ** Devon Energy Corp DVN.N: down 2.4% ** Occidental Petroleum Corp OXY.N: down 3.8% ** Patterson-UTI Energy Inc PTEN.O: down 6.7% BUZZ-U.S. energy shares slide on 5% drop in U.S. crude ** Textron Inc TXT.N: down 2.3% BUZZ-Falls as Cowen downgrades on bleak recovery prospects ** Datadog Inc DDOG.O: up 1.0% BUZZ-Rises as brokerage hikes PT to Street high on Microsoft partnership ** AMAG Pharmaceuticals Inc AMAG.O: up 44.6% BUZZ-Surges as Apollo-backed Covis to buy co for $647 mln ** CareDx Inc CDNA.O: up 6.6% BUZZ-Reaches record high on Medicare coverage decision for AlloSure heart ** Amazon.com Inc AMZN.O: up 1.3% BUZZ-Pivotal says ad business underappreciated, boosts PT to Street high ** Houghton Mifflin Harcourt Co HMHC.O: up 10.7% BUZZ-Soars on restructuring plan; to slash 22% jobs ** Cyclerion Therapeutics Inc CYCN.O: up 4.4% BUZZ-Up on sickle cell, nervous system disease study updates ** Skyworks Solutions Inc SWKS.O: up 1.8% BUZZ-Cowen hikes PT as OEMs seek to fill Huawei void ** VAALCO Energy Inc EGY.N: up 11.4% BUZZ-Jumps on Q3 production outlook ** Bed Bath & Beyond Inc BBBY.O: up 33.4% BUZZ-Surges as co swings to quarterly profit ** Abbott Laboratories ABT.N: up 0.6% BUZZ-Up after Air Canada says finalizing order for 25,000 COVID-19 tests ** Pennsylvania Real Estate Investment Trust: PEI.N: up 1.0% BUZZ-Up on securing one-month extension to liquidity facility ** Advanced Emissions Solutions Inc ADES.O: up 25.4% BUZZ-Surges on 15-year carbon supply contract ** Enlivex Therapeutics Ltd ENLV.O: up 45.8% BUZZ-Surges on positive data from potential COVID-19 treatment ** Gridsum Holding Inc GSUM.O: up 35.5% BUZZ-Soars on take-private offer ** American Equity Investment Life Holding Co AEL.N: up 38.9% BUZZ-Jumps on report of Athene, MassMutual $3-bln-plus takeover bid ** Papa John's International Inc PZZA.O: up 2.4% BUZZ-KeyBanc starts with 'overweight' rating ** Genworth Financial Inc GNW.N: down 3.4% BUZZ-Drops on extension of merger agreement with Oceanwide ** Zillow Group Inc ZG.O: up 4.0% BUZZ-Brokerages hike PTs on growth prospects ** Callon Petroleum Co CPE.N: up 2.7% BUZZ-Jumps after signing asset monetization deals ** Solid Biosciences Inc SLDB.O: up 111.3% BUZZ-Surges after FDA allows gene therapy trial to resumeUSN ** American Airlines Group Inc AAL.O: up 1.5% ** United Airlines Holdings Inc UAL.O: up 0.2% ** Delta Air Line Inc DAL.N: up 0.7% ** Southwest Airlines Co LUV.N: up 0.1% ** JetBlue Airways Corp JBLU.N: up 0.5% BUZZ-U.S. airlines: Up on talks of federal aid extension ** Boeing Co BA.N: up 1.4% BUZZ-Up after FAA conducts 737 MAX test flight ** ProPhase Labs Inc PRPH.O: up 9.8% BUZZ-Up on plans to acquire CLIA certified labs for COVID-19 testing ** Lonestar Resources LONE.O: down 12.3% BUZZ-Slumps after bankruptcy filing ** Tesla Inc TSLA.O: up 2.9% BUZZ-Set to open at 1-1/2 week high, cuts China Model 3 price ** AMAG Pharmaceuticals Inc AMAG.O: up 44.6% BUZZ-Surges on report of potential takeover deal ** PepsiCo Inc PEP.O: up 0.9% BUZZ-Gains on Q3 results, upbeat outlook as at-home snacking jumps ** Alibaba Group Holding Ltd BABA.N: down 1.4% BUZZ-Up as Needham hikes PT on growth prospects ** LogicBio Therapeutics Inc LOGC.O: down 32.0% BUZZ-Slumps on proposed stock offering ** Mastercard Inc MA.N: up 1.5% BUZZ-JPMorgan hikes PT and estimates on positive growth trends ** Selecta Biosciences Inc SELB.O: down 32.9% BUZZ-Plunges as drug fails to meet trial main goal The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes rose on the first day of the fourth quarter on Thursday as investors bet in favor of more fiscal stimulus after data showed the pace of a domestic economic rebound was slowing..N At 12:36 ET, the Dow Jones Industrial Average .DJI was up 0.40% at 27,893.64. The S&P 500 .SPX was up 0.44% at 3,377.82 and the Nasdaq Composite .IXIC was up 0.85% at 11,262.442. | b66415e7-ae0a-44b2-9f97-78869a8448d6 |
32412.0 | 2020-10-01 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Walt Disney, Amazon.com, Ford Motor, Skyworks | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-walt-disney-amazon.com-ford-motor-skyworks-2020-10-01 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes jumped at the open on Thursday as investors bet on more fiscal stimulus after data showed a recovery in the labor market was cooling. .N
At 10:51 a.m. ET, the Dow Jones Industrial Average .DJI was up 0.33% at 27,872.05. The S&P 500 .SPX was up 0.38% at 3,375.8 and the Nasdaq Composite .IXIC was up 0.88% at 11,266.005. The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc , up 4.9% ** Autodesk Inc , up 3.1% ** Gap Inc , up 3.1% The top three S&P 500 .PL.INX percentage losers: ** Valero Energy , down 6.3% ** Halliburton Co , down 5.9% ** Hess Corp , down 4.6% The top three NYSE .PG.N percentage gainers: ** American Equity Investment Life Holding Co , up 36.3% ** SailPoint Technologies Holdings Inc , up 14.3% ** Leaf Group Ltd , up 11% The top three NYSE .PL.N percentage losers: ** Mizuho Financial Group Inc , down 90% ** Ambow Education Holding Ltd , down 17.2% ** BBX Capital Corp , down 16% The top three Nasdaq .PG.O percentage gainers: ** Solid Biosciencs Inc , up 127.6% ** Enlivex Therapeutics Ltd , up 52.5% ** AMAG Pharmaceuticals Inc , up 43.1% The top three Nasdaq .PL.O percentage losers: ** LogicBio Therapeutics Inc , down 33% ** Lixiang Education Holding Co Ltd , down 22.6% ** Kismet Acquisition Once Corp , down 21.1%
** Amazon.com Inc AMZN.O: up 1.2%
BUZZ-Amazon.com: Pivotal says ad business underappreciated, boosts PT to Street high
** Snowflake Inc SNOW.N: down 3.3%
BUZZ-Jefferies starts coverage on the sidelines, cites valuation
** Houghton Mifflin Harcourt Co HMHC.O: up 16.8%
BUZZ-Soars on restructuring plan; to slash 22% jobs
** Cyclerion Therapeutics Inc CYCN.O: up 2.0%
BUZZ-Up on sickle cell, nervous system disease study updates
** Skyworks SWKS.O: up 1.5%
BUZZ-Cowen hikes PT as OEMs seek to fill Huawei void
** VAALCO Energy Inc EGY.N: up 6.5%
BUZZ-Jumps on Q3 production outlook
** Bed Bath & Beyond Inc BBBY.O: up 30.0%
BUZZ-Surges as co swings to quarterly profit
** Abbott Laboratories ABT.N: up 0.8%
BUZZ-Up after Air Canada says finalizing order for 25,000 COVID-19 tests
** Pfizer Inc PFE.N: down 0.6%
BUZZ-Obtains FDA 'Fast Track' designation for muscle degeneration therapy
** Pennsylvania Real Estate Investment Trust: PEI.N: up 3.2%
BUZZ-Up on securing one-month extension to liquidity facility
** Advanced Emissions Solutions Inc ADES.O: up 36.9%
BUZZ-Surges on 15-year carbon supply contract
** Enlivex Therapeutics Ltd ENLV.O: up 52.5%
BUZZ-Surges on positive data from potential COVID-19 treatment
** Gridsum Holding Inc GSUM.O: up 39.5%
BUZZ-Soars on take-private offer
** American Equity Investment Life Holding Co AEL.N: up 36.4%
BUZZ-Jumps on report of Athene, MassMutual $3-bln-plus takeover bid
** Papa John's International Inc PZZA.O: up 3.2%
BUZZ-KeyBanc starts with 'overweight' rating
** Genworth Financial Inc GNW.N: down 4.6%
BUZZ-Drops on extension of merger agreement with Oceanwide
** Zillow Group Inc ZG.O: up 3.7%
BUZZ-Brokerages hike PTs on growth prospects
** Callon Petroleum Co CPE.N: up 5.0%
BUZZ-Jumps after signing asset monetization deals
** Solid Biosciences Inc SLDB.O: up 127.6%
BUZZ-Surges after FDA allows gene therapy trial to resumeUSN
** American Airlines Group Inc AAL.O: up 1.2%
** United Airlines Holdings Inc UAL.O: up 0.5%
** Delta Air Line Inc DAL.N: up 0.9%
** Southwest Airlines Co LUV.N: up 1.3%
** JetBlue Airways Corp JBLU.O: up 0.9%
BUZZ-U.S. airlines: Up on talks of federal aid extension
** Boeing Co BA.N: up 2.0%
BUZZ-Up after FAA conducts 737 MAX test flight
** ProPhase Labs Inc PRPH.O: up 12.7%
BUZZ-Up on plans to acquire CLIA certified labs for COVID-19 testing
** Lonestar Resources LONE.O: down 12.4%
BUZZ-Slumps after bankruptcy filing
** Tesla Inc TSLA.O: up 1.5%
BUZZ-Set to open at 1-1/2 week high, cuts China Model 3 price
** AMAG Pharmaceuticals Inc AMAG.O: up 43.1%
BUZZ-Surges on report of potential takeover deal
** PepsiCo Inc PEP.O: up 0.2%
BUZZ-Gains on Q3 results, upbeat outlook as at-home snacking jumps
** Alibaba Group Holding Ltd BABA.N: down 0.8%
BUZZ-Up as Needham hikes PT on growth prospects
** LogicBio Therapeutics Inc LOGC.O: down 33.0%
BUZZ-Slumps on proposed stock offering
** Mastercard Inc MA.N: up 1.3%
BUZZ-JPMorgan hikes PT and estimates on positive growth trends
** Selecta Biosciences Inc SELB.O: down 31.7%
BUZZ-Plunges as drug fails to meet trial main goal
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.87%
Consumer Discretionary
.SPLRCD
up 0.92%
Consumer Staples
.SPLRCS
up 0.11%
Energy
.SPNY
down 2.79%
Financial
.SPSY
down 0.05%
Health
.SPXHC
down 0.23%
Industrial
.SPLRCI
up 0.24%
Information Technology
.SPLRCT
up 0.83%
Materials
.SPLRCM
down 0.29%
Real Estate
.SPLRCR
down 0.04%
Utilities
.SPLRCU
up 0.76%
(Compiled by Niket Nishant in Bengaluru)
((Niket.Nishant@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc , up 4.9% ** Autodesk Inc , up 3.1% ** Gap Inc , up 3.1% The top three S&P 500 .PL.INX percentage losers: ** Valero Energy , down 6.3% ** Halliburton Co , down 5.9% ** Hess Corp , down 4.6% The top three NYSE .PG.N percentage gainers: ** American Equity Investment Life Holding Co , up 36.3% ** SailPoint Technologies Holdings Inc , up 14.3% ** Leaf Group Ltd , up 11% The top three NYSE .PL.N percentage losers: ** Mizuho Financial Group Inc , down 90% ** Ambow Education Holding Ltd , down 17.2% ** BBX Capital Corp , down 16% The top three Nasdaq .PG.O percentage gainers: ** Solid Biosciencs Inc , up 127.6% ** Enlivex Therapeutics Ltd , up 52.5% ** AMAG Pharmaceuticals Inc , up 43.1% The top three Nasdaq .PL.O percentage losers: ** LogicBio Therapeutics Inc , down 33% ** Lixiang Education Holding Co Ltd , down 22.6% ** Kismet Acquisition Once Corp , down 21.1% ** Amazon.com Inc AMZN.O: up 1.2% BUZZ-Amazon.com: Pivotal says ad business underappreciated, boosts PT to Street high ** Snowflake Inc SNOW.N: down 3.3% BUZZ-Jefferies starts coverage on the sidelines, cites valuation ** Houghton Mifflin Harcourt Co HMHC.O: up 16.8% BUZZ-Soars on restructuring plan; to slash 22% jobs ** Cyclerion Therapeutics Inc CYCN.O: up 2.0% BUZZ-Up on sickle cell, nervous system disease study updates ** Skyworks SWKS.O: up 1.5% BUZZ-Cowen hikes PT as OEMs seek to fill Huawei void ** VAALCO Energy Inc EGY.N: up 6.5% BUZZ-Jumps on Q3 production outlook ** Bed Bath & Beyond Inc BBBY.O: up 30.0% BUZZ-Surges as co swings to quarterly profit ** Abbott Laboratories ABT.N: up 0.8% BUZZ-Up after Air Canada says finalizing order for 25,000 COVID-19 tests ** Pfizer Inc PFE.N: down 0.6% BUZZ-Obtains FDA 'Fast Track' designation for muscle degeneration therapy ** Pennsylvania Real Estate Investment Trust: PEI.N: up 3.2% BUZZ-Up on securing one-month extension to liquidity facility ** Advanced Emissions Solutions Inc ADES.O: up 36.9% BUZZ-Surges on 15-year carbon supply contract ** Enlivex Therapeutics Ltd ENLV.O: up 52.5% BUZZ-Surges on positive data from potential COVID-19 treatment ** Gridsum Holding Inc GSUM.O: up 39.5% BUZZ-Soars on take-private offer ** American Equity Investment Life Holding Co AEL.N: up 36.4% BUZZ-Jumps on report of Athene, MassMutual $3-bln-plus takeover bid ** Papa John's International Inc PZZA.O: up 3.2% BUZZ-KeyBanc starts with 'overweight' rating ** Genworth Financial Inc GNW.N: down 4.6% BUZZ-Drops on extension of merger agreement with Oceanwide ** Zillow Group Inc ZG.O: up 3.7% BUZZ-Brokerages hike PTs on growth prospects ** Callon Petroleum Co CPE.N: up 5.0% BUZZ-Jumps after signing asset monetization deals ** Solid Biosciences Inc SLDB.O: up 127.6% BUZZ-Surges after FDA allows gene therapy trial to resumeUSN ** American Airlines Group Inc AAL.O: up 1.2% ** United Airlines Holdings Inc UAL.O: up 0.5% ** Delta Air Line Inc DAL.N: up 0.9% ** Southwest Airlines Co LUV.N: up 1.3% ** JetBlue Airways Corp JBLU.O: up 0.9% BUZZ-U.S. airlines: Up on talks of federal aid extension ** Boeing Co BA.N: up 2.0% BUZZ-Up after FAA conducts 737 MAX test flight ** ProPhase Labs Inc PRPH.O: up 12.7% BUZZ-Up on plans to acquire CLIA certified labs for COVID-19 testing ** Lonestar Resources LONE.O: down 12.4% BUZZ-Slumps after bankruptcy filing ** Tesla Inc TSLA.O: up 1.5% BUZZ-Set to open at 1-1/2 week high, cuts China Model 3 price ** AMAG Pharmaceuticals Inc AMAG.O: up 43.1% BUZZ-Surges on report of potential takeover deal ** PepsiCo Inc PEP.O: up 0.2% BUZZ-Gains on Q3 results, upbeat outlook as at-home snacking jumps ** Alibaba Group Holding Ltd BABA.N: down 0.8% BUZZ-Up as Needham hikes PT on growth prospects ** LogicBio Therapeutics Inc LOGC.O: down 33.0% BUZZ-Slumps on proposed stock offering ** Mastercard Inc MA.N: up 1.3% BUZZ-JPMorgan hikes PT and estimates on positive growth trends ** Selecta Biosciences Inc SELB.O: down 31.7% BUZZ-Plunges as drug fails to meet trial main goal The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes jumped at the open on Thursday as investors bet on more fiscal stimulus after data showed a recovery in the labor market was cooling. up 0.76% (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc , up 4.9% ** Autodesk Inc , up 3.1% ** Gap Inc , up 3.1% The top three S&P 500 .PL.INX percentage losers: ** Valero Energy , down 6.3% ** Halliburton Co , down 5.9% ** Hess Corp , down 4.6% The top three NYSE .PG.N percentage gainers: ** American Equity Investment Life Holding Co , up 36.3% ** SailPoint Technologies Holdings Inc , up 14.3% ** Leaf Group Ltd , up 11% The top three NYSE .PL.N percentage losers: ** Mizuho Financial Group Inc , down 90% ** Ambow Education Holding Ltd , down 17.2% ** BBX Capital Corp , down 16% The top three Nasdaq .PG.O percentage gainers: ** Solid Biosciencs Inc , up 127.6% ** Enlivex Therapeutics Ltd , up 52.5% ** AMAG Pharmaceuticals Inc , up 43.1% The top three Nasdaq .PL.O percentage losers: ** LogicBio Therapeutics Inc , down 33% ** Lixiang Education Holding Co Ltd , down 22.6% ** Kismet Acquisition Once Corp , down 21.1% ** Amazon.com Inc AMZN.O: up 1.2% BUZZ-Amazon.com: Pivotal says ad business underappreciated, boosts PT to Street high ** Snowflake Inc SNOW.N: down 3.3% BUZZ-Jefferies starts coverage on the sidelines, cites valuation ** Houghton Mifflin Harcourt Co HMHC.O: up 16.8% BUZZ-Soars on restructuring plan; to slash 22% jobs ** Cyclerion Therapeutics Inc CYCN.O: up 2.0% BUZZ-Up on sickle cell, nervous system disease study updates ** Skyworks SWKS.O: up 1.5% BUZZ-Cowen hikes PT as OEMs seek to fill Huawei void ** VAALCO Energy Inc EGY.N: up 6.5% BUZZ-Jumps on Q3 production outlook ** Bed Bath & Beyond Inc BBBY.O: up 30.0% BUZZ-Surges as co swings to quarterly profit ** Abbott Laboratories ABT.N: up 0.8% BUZZ-Up after Air Canada says finalizing order for 25,000 COVID-19 tests ** Pfizer Inc PFE.N: down 0.6% BUZZ-Obtains FDA 'Fast Track' designation for muscle degeneration therapy ** Pennsylvania Real Estate Investment Trust: PEI.N: up 3.2% BUZZ-Up on securing one-month extension to liquidity facility ** Advanced Emissions Solutions Inc ADES.O: up 36.9% BUZZ-Surges on 15-year carbon supply contract ** Enlivex Therapeutics Ltd ENLV.O: up 52.5% BUZZ-Surges on positive data from potential COVID-19 treatment ** Gridsum Holding Inc GSUM.O: up 39.5% BUZZ-Soars on take-private offer ** American Equity Investment Life Holding Co AEL.N: up 36.4% BUZZ-Jumps on report of Athene, MassMutual $3-bln-plus takeover bid ** Papa John's International Inc PZZA.O: up 3.2% BUZZ-KeyBanc starts with 'overweight' rating ** Genworth Financial Inc GNW.N: down 4.6% BUZZ-Drops on extension of merger agreement with Oceanwide ** Zillow Group Inc ZG.O: up 3.7% BUZZ-Brokerages hike PTs on growth prospects ** Callon Petroleum Co CPE.N: up 5.0% BUZZ-Jumps after signing asset monetization deals ** Solid Biosciences Inc SLDB.O: up 127.6% BUZZ-Surges after FDA allows gene therapy trial to resumeUSN ** American Airlines Group Inc AAL.O: up 1.2% ** United Airlines Holdings Inc UAL.O: up 0.5% ** Delta Air Line Inc DAL.N: up 0.9% ** Southwest Airlines Co LUV.N: up 1.3% ** JetBlue Airways Corp JBLU.O: up 0.9% BUZZ-U.S. airlines: Up on talks of federal aid extension ** Boeing Co BA.N: up 2.0% BUZZ-Up after FAA conducts 737 MAX test flight ** ProPhase Labs Inc PRPH.O: up 12.7% BUZZ-Up on plans to acquire CLIA certified labs for COVID-19 testing ** Lonestar Resources LONE.O: down 12.4% BUZZ-Slumps after bankruptcy filing ** Tesla Inc TSLA.O: up 1.5% BUZZ-Set to open at 1-1/2 week high, cuts China Model 3 price ** AMAG Pharmaceuticals Inc AMAG.O: up 43.1% BUZZ-Surges on report of potential takeover deal ** PepsiCo Inc PEP.O: up 0.2% BUZZ-Gains on Q3 results, upbeat outlook as at-home snacking jumps ** Alibaba Group Holding Ltd BABA.N: down 0.8% BUZZ-Up as Needham hikes PT on growth prospects ** LogicBio Therapeutics Inc LOGC.O: down 33.0% BUZZ-Slumps on proposed stock offering ** Mastercard Inc MA.N: up 1.3% BUZZ-JPMorgan hikes PT and estimates on positive growth trends ** Selecta Biosciences Inc SELB.O: down 31.7% BUZZ-Plunges as drug fails to meet trial main goal The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes jumped at the open on Thursday as investors bet on more fiscal stimulus after data showed a recovery in the labor market was cooling. down 0.29% Real Estate | The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc , up 4.9% ** Autodesk Inc , up 3.1% ** Gap Inc , up 3.1% The top three S&P 500 .PL.INX percentage losers: ** Valero Energy , down 6.3% ** Halliburton Co , down 5.9% ** Hess Corp , down 4.6% The top three NYSE .PG.N percentage gainers: ** American Equity Investment Life Holding Co , up 36.3% ** SailPoint Technologies Holdings Inc , up 14.3% ** Leaf Group Ltd , up 11% The top three NYSE .PL.N percentage losers: ** Mizuho Financial Group Inc , down 90% ** Ambow Education Holding Ltd , down 17.2% ** BBX Capital Corp , down 16% The top three Nasdaq .PG.O percentage gainers: ** Solid Biosciencs Inc , up 127.6% ** Enlivex Therapeutics Ltd , up 52.5% ** AMAG Pharmaceuticals Inc , up 43.1% The top three Nasdaq .PL.O percentage losers: ** LogicBio Therapeutics Inc , down 33% ** Lixiang Education Holding Co Ltd , down 22.6% ** Kismet Acquisition Once Corp , down 21.1% ** Amazon.com Inc AMZN.O: up 1.2% BUZZ-Amazon.com: Pivotal says ad business underappreciated, boosts PT to Street high ** Snowflake Inc SNOW.N: down 3.3% BUZZ-Jefferies starts coverage on the sidelines, cites valuation ** Houghton Mifflin Harcourt Co HMHC.O: up 16.8% BUZZ-Soars on restructuring plan; to slash 22% jobs ** Cyclerion Therapeutics Inc CYCN.O: up 2.0% BUZZ-Up on sickle cell, nervous system disease study updates ** Skyworks SWKS.O: up 1.5% BUZZ-Cowen hikes PT as OEMs seek to fill Huawei void ** VAALCO Energy Inc EGY.N: up 6.5% BUZZ-Jumps on Q3 production outlook ** Bed Bath & Beyond Inc BBBY.O: up 30.0% BUZZ-Surges as co swings to quarterly profit ** Abbott Laboratories ABT.N: up 0.8% BUZZ-Up after Air Canada says finalizing order for 25,000 COVID-19 tests ** Pfizer Inc PFE.N: down 0.6% BUZZ-Obtains FDA 'Fast Track' designation for muscle degeneration therapy ** Pennsylvania Real Estate Investment Trust: PEI.N: up 3.2% BUZZ-Up on securing one-month extension to liquidity facility ** Advanced Emissions Solutions Inc ADES.O: up 36.9% BUZZ-Surges on 15-year carbon supply contract ** Enlivex Therapeutics Ltd ENLV.O: up 52.5% BUZZ-Surges on positive data from potential COVID-19 treatment ** Gridsum Holding Inc GSUM.O: up 39.5% BUZZ-Soars on take-private offer ** American Equity Investment Life Holding Co AEL.N: up 36.4% BUZZ-Jumps on report of Athene, MassMutual $3-bln-plus takeover bid ** Papa John's International Inc PZZA.O: up 3.2% BUZZ-KeyBanc starts with 'overweight' rating ** Genworth Financial Inc GNW.N: down 4.6% BUZZ-Drops on extension of merger agreement with Oceanwide ** Zillow Group Inc ZG.O: up 3.7% BUZZ-Brokerages hike PTs on growth prospects ** Callon Petroleum Co CPE.N: up 5.0% BUZZ-Jumps after signing asset monetization deals ** Solid Biosciences Inc SLDB.O: up 127.6% BUZZ-Surges after FDA allows gene therapy trial to resumeUSN ** American Airlines Group Inc AAL.O: up 1.2% ** United Airlines Holdings Inc UAL.O: up 0.5% ** Delta Air Line Inc DAL.N: up 0.9% ** Southwest Airlines Co LUV.N: up 1.3% ** JetBlue Airways Corp JBLU.O: up 0.9% BUZZ-U.S. airlines: Up on talks of federal aid extension ** Boeing Co BA.N: up 2.0% BUZZ-Up after FAA conducts 737 MAX test flight ** ProPhase Labs Inc PRPH.O: up 12.7% BUZZ-Up on plans to acquire CLIA certified labs for COVID-19 testing ** Lonestar Resources LONE.O: down 12.4% BUZZ-Slumps after bankruptcy filing ** Tesla Inc TSLA.O: up 1.5% BUZZ-Set to open at 1-1/2 week high, cuts China Model 3 price ** AMAG Pharmaceuticals Inc AMAG.O: up 43.1% BUZZ-Surges on report of potential takeover deal ** PepsiCo Inc PEP.O: up 0.2% BUZZ-Gains on Q3 results, upbeat outlook as at-home snacking jumps ** Alibaba Group Holding Ltd BABA.N: down 0.8% BUZZ-Up as Needham hikes PT on growth prospects ** LogicBio Therapeutics Inc LOGC.O: down 33.0% BUZZ-Slumps on proposed stock offering ** Mastercard Inc MA.N: up 1.3% BUZZ-JPMorgan hikes PT and estimates on positive growth trends ** Selecta Biosciences Inc SELB.O: down 31.7% BUZZ-Plunges as drug fails to meet trial main goal The 11 major S&P 500 sectors: Communication Services ET, the Dow Jones Industrial Average .DJI was up 0.33% at 27,872.05. up 0.87% Consumer Discretionary | The top three S&P 500 .PG.INX percentage gainers: ** ETSY Inc , up 4.9% ** Autodesk Inc , up 3.1% ** Gap Inc , up 3.1% The top three S&P 500 .PL.INX percentage losers: ** Valero Energy , down 6.3% ** Halliburton Co , down 5.9% ** Hess Corp , down 4.6% The top three NYSE .PG.N percentage gainers: ** American Equity Investment Life Holding Co , up 36.3% ** SailPoint Technologies Holdings Inc , up 14.3% ** Leaf Group Ltd , up 11% The top three NYSE .PL.N percentage losers: ** Mizuho Financial Group Inc , down 90% ** Ambow Education Holding Ltd , down 17.2% ** BBX Capital Corp , down 16% The top three Nasdaq .PG.O percentage gainers: ** Solid Biosciencs Inc , up 127.6% ** Enlivex Therapeutics Ltd , up 52.5% ** AMAG Pharmaceuticals Inc , up 43.1% The top three Nasdaq .PL.O percentage losers: ** LogicBio Therapeutics Inc , down 33% ** Lixiang Education Holding Co Ltd , down 22.6% ** Kismet Acquisition Once Corp , down 21.1% ** Amazon.com Inc AMZN.O: up 1.2% BUZZ-Amazon.com: Pivotal says ad business underappreciated, boosts PT to Street high ** Snowflake Inc SNOW.N: down 3.3% BUZZ-Jefferies starts coverage on the sidelines, cites valuation ** Houghton Mifflin Harcourt Co HMHC.O: up 16.8% BUZZ-Soars on restructuring plan; to slash 22% jobs ** Cyclerion Therapeutics Inc CYCN.O: up 2.0% BUZZ-Up on sickle cell, nervous system disease study updates ** Skyworks SWKS.O: up 1.5% BUZZ-Cowen hikes PT as OEMs seek to fill Huawei void ** VAALCO Energy Inc EGY.N: up 6.5% BUZZ-Jumps on Q3 production outlook ** Bed Bath & Beyond Inc BBBY.O: up 30.0% BUZZ-Surges as co swings to quarterly profit ** Abbott Laboratories ABT.N: up 0.8% BUZZ-Up after Air Canada says finalizing order for 25,000 COVID-19 tests ** Pfizer Inc PFE.N: down 0.6% BUZZ-Obtains FDA 'Fast Track' designation for muscle degeneration therapy ** Pennsylvania Real Estate Investment Trust: PEI.N: up 3.2% BUZZ-Up on securing one-month extension to liquidity facility ** Advanced Emissions Solutions Inc ADES.O: up 36.9% BUZZ-Surges on 15-year carbon supply contract ** Enlivex Therapeutics Ltd ENLV.O: up 52.5% BUZZ-Surges on positive data from potential COVID-19 treatment ** Gridsum Holding Inc GSUM.O: up 39.5% BUZZ-Soars on take-private offer ** American Equity Investment Life Holding Co AEL.N: up 36.4% BUZZ-Jumps on report of Athene, MassMutual $3-bln-plus takeover bid ** Papa John's International Inc PZZA.O: up 3.2% BUZZ-KeyBanc starts with 'overweight' rating ** Genworth Financial Inc GNW.N: down 4.6% BUZZ-Drops on extension of merger agreement with Oceanwide ** Zillow Group Inc ZG.O: up 3.7% BUZZ-Brokerages hike PTs on growth prospects ** Callon Petroleum Co CPE.N: up 5.0% BUZZ-Jumps after signing asset monetization deals ** Solid Biosciences Inc SLDB.O: up 127.6% BUZZ-Surges after FDA allows gene therapy trial to resumeUSN ** American Airlines Group Inc AAL.O: up 1.2% ** United Airlines Holdings Inc UAL.O: up 0.5% ** Delta Air Line Inc DAL.N: up 0.9% ** Southwest Airlines Co LUV.N: up 1.3% ** JetBlue Airways Corp JBLU.O: up 0.9% BUZZ-U.S. airlines: Up on talks of federal aid extension ** Boeing Co BA.N: up 2.0% BUZZ-Up after FAA conducts 737 MAX test flight ** ProPhase Labs Inc PRPH.O: up 12.7% BUZZ-Up on plans to acquire CLIA certified labs for COVID-19 testing ** Lonestar Resources LONE.O: down 12.4% BUZZ-Slumps after bankruptcy filing ** Tesla Inc TSLA.O: up 1.5% BUZZ-Set to open at 1-1/2 week high, cuts China Model 3 price ** AMAG Pharmaceuticals Inc AMAG.O: up 43.1% BUZZ-Surges on report of potential takeover deal ** PepsiCo Inc PEP.O: up 0.2% BUZZ-Gains on Q3 results, upbeat outlook as at-home snacking jumps ** Alibaba Group Holding Ltd BABA.N: down 0.8% BUZZ-Up as Needham hikes PT on growth prospects ** LogicBio Therapeutics Inc LOGC.O: down 33.0% BUZZ-Slumps on proposed stock offering ** Mastercard Inc MA.N: up 1.3% BUZZ-JPMorgan hikes PT and estimates on positive growth trends ** Selecta Biosciences Inc SELB.O: down 31.7% BUZZ-Plunges as drug fails to meet trial main goal The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes jumped at the open on Thursday as investors bet on more fiscal stimulus after data showed a recovery in the labor market was cooling. ET, the Dow Jones Industrial Average .DJI was up 0.33% at 27,872.05. | dde46732-389f-4ec2-9cfa-5e5655216a11 |
32413.0 | 2020-10-01 00:00:00 UTC | Canadian aviation sector to be permanently hurt without aid, unions say | ABT | https://www.nasdaq.com/articles/canadian-aviation-sector-to-be-permanently-hurt-without-aid-unions-say-2020-10-01-0 | nan | nan | By David Ljunggren
OTTAWA, Oct 1 (Reuters) - Major Canadian labor unions said on Thursday the aviation sector would suffer permanent damage unless Ottawa provided a C$7 billion ($5.3 billion) 10-year low-interest loan to offset the effects of the coronavirus outbreak, which has slashed travel.
The unions, which represent more than 310,000 workers, said in a statement that Canada remained the only leading developed nation not to have unveiled concrete measures to help the travel and tourism sector.
"We need urgent funds for the aviation sector or there won't be Canadian airlines, and that will cost us all much more," said Jerry Dias, national president of Unifor, Canada's largest private sector union.
The unions also want direct financial aid tied to the resumption and maintenance of air services.
The federal Liberal government of Prime Minister Justin Trudeau has repeatedly said it is looking at aid for the aviation sector but has yet to make any announcements.
The office of federal Transport Minister Marc Garneau, asked about the unions' demand,said in a statement that Ottawa was "actively working to put forward solutions" for the sector but gave no details.
Air Canada AC.TO, the nation's largest carrier, wants Ottawa to relax travel restrictions which stipulate that people arriving from abroad must go into quarantine for 14 days to make sure they do not spread the virus.
On Thursday, Air Canada said it was finalizing an initial order for 25,000 rapid testing kits from Abbott Laboratories ABT.N.
Dr. Jim Chung, the carrier's chief medical officer, said rapid testing was "a means to enable governments to relax current blanket travel restrictions and quarantines in a measured way".
($1=1.3296 Canadian dollars)
(Reporting by David Ljunggren Editing by Paul Simao and Richard Chang)
((david.ljunggren@tr.com; +1 647 480 7891))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On Thursday, Air Canada said it was finalizing an initial order for 25,000 rapid testing kits from Abbott Laboratories ABT.N. The office of federal Transport Minister Marc Garneau, asked about the unions' demand,said in a statement that Ottawa was "actively working to put forward solutions" for the sector but gave no details. Air Canada AC.TO, the nation's largest carrier, wants Ottawa to relax travel restrictions which stipulate that people arriving from abroad must go into quarantine for 14 days to make sure they do not spread the virus. | On Thursday, Air Canada said it was finalizing an initial order for 25,000 rapid testing kits from Abbott Laboratories ABT.N. By David Ljunggren OTTAWA, Oct 1 (Reuters) - Major Canadian labor unions said on Thursday the aviation sector would suffer permanent damage unless Ottawa provided a C$7 billion ($5.3 billion) 10-year low-interest loan to offset the effects of the coronavirus outbreak, which has slashed travel. Air Canada AC.TO, the nation's largest carrier, wants Ottawa to relax travel restrictions which stipulate that people arriving from abroad must go into quarantine for 14 days to make sure they do not spread the virus. | On Thursday, Air Canada said it was finalizing an initial order for 25,000 rapid testing kits from Abbott Laboratories ABT.N. By David Ljunggren OTTAWA, Oct 1 (Reuters) - Major Canadian labor unions said on Thursday the aviation sector would suffer permanent damage unless Ottawa provided a C$7 billion ($5.3 billion) 10-year low-interest loan to offset the effects of the coronavirus outbreak, which has slashed travel. "We need urgent funds for the aviation sector or there won't be Canadian airlines, and that will cost us all much more," said Jerry Dias, national president of Unifor, Canada's largest private sector union. | On Thursday, Air Canada said it was finalizing an initial order for 25,000 rapid testing kits from Abbott Laboratories ABT.N. By David Ljunggren OTTAWA, Oct 1 (Reuters) - Major Canadian labor unions said on Thursday the aviation sector would suffer permanent damage unless Ottawa provided a C$7 billion ($5.3 billion) 10-year low-interest loan to offset the effects of the coronavirus outbreak, which has slashed travel. The unions, which represent more than 310,000 workers, said in a statement that Canada remained the only leading developed nation not to have unveiled concrete measures to help the travel and tourism sector. | a9835e2c-2032-4e3a-bc09-a2e882bb68d5 |
32414.0 | 2020-10-01 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-VAALCO Energy, Pfizer, Genworth Financial, Lonestar Resources | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-vaalco-energy-pfizer-genworth-financial-lonestar-resources | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes were set to jump on the first day of the fourth quarter on Thursday as investors remained hopeful of a new coronavirus fiscal aid package, while data showed weekly jobless claims hovered at recession levels..N
At 9:09 ET, Dow e-minis 1YMc1 were up 0.61% at 27,832. S&P 500 e-minis ESc1 were up 0.73% at 3,376.5, while Nasdaq 100 e-minis NQc1 were up 1.30% at 11,556. The top three NYSE percentage gainers premarket .PRPG.NQ: ** American Equity Investment Life Holding Co , up 53.0% ** HC2 Holdings Inc , up 18.0% ** Callon Petroleum Co , up 14.9% The top three NYSE percentage losers premarket .PRPL.NQ: ** Mizuho Financial Group Inc , down 89.9% ** Biglari Holdings Inc , down 15.7% ** Borr Drillng Ltd , down 9.9% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Solid Biosciences Inc , up 140.9% ** Enlivex Therapeutics Ltd , up 70.4% ** Gridsum Holding Inc , up 45.5% The top three Nasdaq percentage losers premarket .PRPL.O: ** South Mountain Merger Corp , down 99.1% ** Zosano Pharma Corp ZSAN.O, down 53.2%
** Selecta Biosciences Inc SELB.O down 37.9% ** VAALCO Energy Inc EGY.N: up 7.0% premarket BUZZ-Jumps on Q3 production outlook
** Bed Bath & Beyond Inc BBBY.O: up 24.0% premarket BUZZ-Surges as co swings to quarterly profit
** Abbott Laboratories ABT.N: up 0.9% premarket BUZZ-Up after Air Canada says finalizing order for 25,000 COVID-19 tests
** Pfizer Inc PFE.N: up 0.5% premarket BUZZ-Obtains FDA 'Fast Track' designation for muscle degeneration therapy
** Pennsylvania Real Estate Investment Trust: PEI.N: up 4.7% premarket BUZZ-Up on securing one-month extension to liquidity facility
** Advanced Emissions Solutions Inc ADES.O: up 43.6% premarket BUZZ-Surges on 15-year carbon supply contract
** Enlivex Therapeutics Ltd ENLV.O: up 70.4% premarket BUZZ-Surges on positive data from potential COVID-19 treatment
** Gridsum Holding Inc GSUM.O: up 45.5% premarket BUZZ-Soars on take-private offer
** American Equity Investment Life Holding Co AEL.N: up 53.0% premarket BUZZ-Jumps on report of Athene, MassMutual $3-bln-plus takeover bid
** Papa John's International Inc PZZA.O: up 1.2% premarket BUZZ-KeyBanc starts with 'overweight' rating
** Genworth Financial Inc GNW.N: down 9.9% premarket BUZZ-Drops on extension of merger agreement with Oceanwide
** Zillow Group Inc ZG.O: up 2.7% premarket BUZZ-Brokerages hike PTs on growth prospects
** Callon Petroleum Co CPE.N: up 14.9% premarket BUZZ-Jumps after signing asset monetization deals
** Solid Biosciences Inc SLDB.O: up 140.9% premarket BUZZ-Surges after FDA allows gene therapy trial to resumeUSN
** American Airlines Group Inc AAL.O: up 1.2% premarket
** United Airlines Holdings Inc UAL.O: up 1.5% premarket
** Delta Air Line Inc DAL.N: up 0.9% premarket
** Southwest Airlines Co LUV.N: up 0.7% premarket
BUZZ-U.S. airlines: Up on talks of federal aid extension
** Boeing Co BA.N: up 2.5% premarket
BUZZ-Up after FAA conducts 737 MAX test flight
** ProPhase Labs Inc PRPH.O: up 15.6% premarket
BUZZ-Up on plans to acquire CLIA certified labs for COVID-19 testing
** Lonestar Resources LONE.O: down 16.9% premarket
BUZZ-Slumps after bankruptcy filing
** Tesla Inc TSLA.O: up 2.1% premarket
BUZZ-Set to open at 1-1/2 week high, cuts China Model 3 price
** AMAG Pharmaceuticals Inc AMAG.O: up 40.6% premarket
BUZZ-Surges on report of potential takeover deal
** PepsiCo Inc PEP.O: up 0.7% premarket
BUZZ-Gains on Q3 results, upbeat outlook as at-home snacking jumps
** Alibaba Group Holding Ltd BABA.N: up 0.6% premarket
BUZZ-Up as Needham hikes PT on growth prospects
** LogicBio Therapeutics Inc LOGC.O: down 30.6% premarket
BUZZ-Slumps on proposed stock offering
** Mastercard Inc MA.N: up 0.6% premarket
BUZZ-JPMorgan hikes PT and estimates on positive growth trends
** Selecta Biosciences Inc SELB.O: down 37.9% premarket
BUZZ-Plunges as drug fails to meet trial main goal
(Compiled by Niket Nishant in Bengaluru)
((Niket.Nishant@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** American Equity Investment Life Holding Co , up 53.0% ** HC2 Holdings Inc , up 18.0% ** Callon Petroleum Co , up 14.9% The top three NYSE percentage losers premarket .PRPL.NQ: ** Mizuho Financial Group Inc , down 89.9% ** Biglari Holdings Inc , down 15.7% ** Borr Drillng Ltd , down 9.9% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Solid Biosciences Inc , up 140.9% ** Enlivex Therapeutics Ltd , up 70.4% ** Gridsum Holding Inc , up 45.5% The top three Nasdaq percentage losers premarket .PRPL.O: ** South Mountain Merger Corp , down 99.1% ** Zosano Pharma Corp ZSAN.O, down 53.2% ** Selecta Biosciences Inc SELB.O down 37.9% ** VAALCO Energy Inc EGY.N: up 7.0% premarket BUZZ-Jumps on Q3 production outlook ** Bed Bath & Beyond Inc BBBY.O: up 24.0% premarket BUZZ-Surges as co swings to quarterly profit ** Abbott Laboratories ABT.N: up 0.9% premarket BUZZ-Up after Air Canada says finalizing order for 25,000 COVID-19 tests ** Pfizer Inc PFE.N: up 0.5% premarket BUZZ-Obtains FDA 'Fast Track' designation for muscle degeneration therapy ** Pennsylvania Real Estate Investment Trust: PEI.N: up 4.7% premarket BUZZ-Up on securing one-month extension to liquidity facility ** Advanced Emissions Solutions Inc ADES.O: up 43.6% premarket BUZZ-Surges on 15-year carbon supply contract ** Enlivex Therapeutics Ltd ENLV.O: up 70.4% premarket BUZZ-Surges on positive data from potential COVID-19 treatment ** Gridsum Holding Inc GSUM.O: up 45.5% premarket BUZZ-Soars on take-private offer ** American Equity Investment Life Holding Co AEL.N: up 53.0% premarket BUZZ-Jumps on report of Athene, MassMutual $3-bln-plus takeover bid ** Papa John's International Inc PZZA.O: up 1.2% premarket BUZZ-KeyBanc starts with 'overweight' rating ** Genworth Financial Inc GNW.N: down 9.9% premarket BUZZ-Drops on extension of merger agreement with Oceanwide ** Zillow Group Inc ZG.O: up 2.7% premarket BUZZ-Brokerages hike PTs on growth prospects ** Callon Petroleum Co CPE.N: up 14.9% premarket BUZZ-Jumps after signing asset monetization deals ** Solid Biosciences Inc SLDB.O: up 140.9% premarket BUZZ-Surges after FDA allows gene therapy trial to resumeUSN ** American Airlines Group Inc AAL.O: up 1.2% premarket ** United Airlines Holdings Inc UAL.O: up 1.5% premarket ** Delta Air Line Inc DAL.N: up 0.9% premarket ** Southwest Airlines Co LUV.N: up 0.7% premarket BUZZ-U.S. airlines: Up on talks of federal aid extension ** Boeing Co BA.N: up 2.5% premarket BUZZ-Up after FAA conducts 737 MAX test flight ** ProPhase Labs Inc PRPH.O: up 15.6% premarket BUZZ-Up on plans to acquire CLIA certified labs for COVID-19 testing ** Lonestar Resources LONE.O: down 16.9% premarket BUZZ-Slumps after bankruptcy filing ** Tesla Inc TSLA.O: up 2.1% premarket BUZZ-Set to open at 1-1/2 week high, cuts China Model 3 price ** AMAG Pharmaceuticals Inc AMAG.O: up 40.6% premarket BUZZ-Surges on report of potential takeover deal ** PepsiCo Inc PEP.O: up 0.7% premarket BUZZ-Gains on Q3 results, upbeat outlook as at-home snacking jumps ** Alibaba Group Holding Ltd BABA.N: up 0.6% premarket BUZZ-Up as Needham hikes PT on growth prospects ** LogicBio Therapeutics Inc LOGC.O: down 30.6% premarket BUZZ-Slumps on proposed stock offering ** Mastercard Inc MA.N: up 0.6% premarket BUZZ-JPMorgan hikes PT and estimates on positive growth trends ** Selecta Biosciences Inc SELB.O: down 37.9% premarket BUZZ-Plunges as drug fails to meet trial main goal (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to jump on the first day of the fourth quarter on Thursday as investors remained hopeful of a new coronavirus fiscal aid package, while data showed weekly jobless claims hovered at recession levels..N At 9:09 ET, Dow e-minis 1YMc1 were up 0.61% at 27,832. S&P 500 e-minis ESc1 were up 0.73% at 3,376.5, while Nasdaq 100 e-minis NQc1 were up 1.30% at 11,556. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** American Equity Investment Life Holding Co , up 53.0% ** HC2 Holdings Inc , up 18.0% ** Callon Petroleum Co , up 14.9% The top three NYSE percentage losers premarket .PRPL.NQ: ** Mizuho Financial Group Inc , down 89.9% ** Biglari Holdings Inc , down 15.7% ** Borr Drillng Ltd , down 9.9% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Solid Biosciences Inc , up 140.9% ** Enlivex Therapeutics Ltd , up 70.4% ** Gridsum Holding Inc , up 45.5% The top three Nasdaq percentage losers premarket .PRPL.O: ** South Mountain Merger Corp , down 99.1% ** Zosano Pharma Corp ZSAN.O, down 53.2% ** Selecta Biosciences Inc SELB.O down 37.9% ** VAALCO Energy Inc EGY.N: up 7.0% premarket BUZZ-Jumps on Q3 production outlook ** Bed Bath & Beyond Inc BBBY.O: up 24.0% premarket BUZZ-Surges as co swings to quarterly profit ** Abbott Laboratories ABT.N: up 0.9% premarket BUZZ-Up after Air Canada says finalizing order for 25,000 COVID-19 tests ** Pfizer Inc PFE.N: up 0.5% premarket BUZZ-Obtains FDA 'Fast Track' designation for muscle degeneration therapy ** Pennsylvania Real Estate Investment Trust: PEI.N: up 4.7% premarket BUZZ-Up on securing one-month extension to liquidity facility ** Advanced Emissions Solutions Inc ADES.O: up 43.6% premarket BUZZ-Surges on 15-year carbon supply contract ** Enlivex Therapeutics Ltd ENLV.O: up 70.4% premarket BUZZ-Surges on positive data from potential COVID-19 treatment ** Gridsum Holding Inc GSUM.O: up 45.5% premarket BUZZ-Soars on take-private offer ** American Equity Investment Life Holding Co AEL.N: up 53.0% premarket BUZZ-Jumps on report of Athene, MassMutual $3-bln-plus takeover bid ** Papa John's International Inc PZZA.O: up 1.2% premarket BUZZ-KeyBanc starts with 'overweight' rating ** Genworth Financial Inc GNW.N: down 9.9% premarket BUZZ-Drops on extension of merger agreement with Oceanwide ** Zillow Group Inc ZG.O: up 2.7% premarket BUZZ-Brokerages hike PTs on growth prospects ** Callon Petroleum Co CPE.N: up 14.9% premarket BUZZ-Jumps after signing asset monetization deals ** Solid Biosciences Inc SLDB.O: up 140.9% premarket BUZZ-Surges after FDA allows gene therapy trial to resumeUSN ** American Airlines Group Inc AAL.O: up 1.2% premarket ** United Airlines Holdings Inc UAL.O: up 1.5% premarket ** Delta Air Line Inc DAL.N: up 0.9% premarket ** Southwest Airlines Co LUV.N: up 0.7% premarket BUZZ-U.S. airlines: Up on talks of federal aid extension ** Boeing Co BA.N: up 2.5% premarket BUZZ-Up after FAA conducts 737 MAX test flight ** ProPhase Labs Inc PRPH.O: up 15.6% premarket BUZZ-Up on plans to acquire CLIA certified labs for COVID-19 testing ** Lonestar Resources LONE.O: down 16.9% premarket BUZZ-Slumps after bankruptcy filing ** Tesla Inc TSLA.O: up 2.1% premarket BUZZ-Set to open at 1-1/2 week high, cuts China Model 3 price ** AMAG Pharmaceuticals Inc AMAG.O: up 40.6% premarket BUZZ-Surges on report of potential takeover deal ** PepsiCo Inc PEP.O: up 0.7% premarket BUZZ-Gains on Q3 results, upbeat outlook as at-home snacking jumps ** Alibaba Group Holding Ltd BABA.N: up 0.6% premarket BUZZ-Up as Needham hikes PT on growth prospects ** LogicBio Therapeutics Inc LOGC.O: down 30.6% premarket BUZZ-Slumps on proposed stock offering ** Mastercard Inc MA.N: up 0.6% premarket BUZZ-JPMorgan hikes PT and estimates on positive growth trends ** Selecta Biosciences Inc SELB.O: down 37.9% premarket BUZZ-Plunges as drug fails to meet trial main goal (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to jump on the first day of the fourth quarter on Thursday as investors remained hopeful of a new coronavirus fiscal aid package, while data showed weekly jobless claims hovered at recession levels..N At 9:09 ET, Dow e-minis 1YMc1 were up 0.61% at 27,832. S&P 500 e-minis ESc1 were up 0.73% at 3,376.5, while Nasdaq 100 e-minis NQc1 were up 1.30% at 11,556. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** American Equity Investment Life Holding Co , up 53.0% ** HC2 Holdings Inc , up 18.0% ** Callon Petroleum Co , up 14.9% The top three NYSE percentage losers premarket .PRPL.NQ: ** Mizuho Financial Group Inc , down 89.9% ** Biglari Holdings Inc , down 15.7% ** Borr Drillng Ltd , down 9.9% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Solid Biosciences Inc , up 140.9% ** Enlivex Therapeutics Ltd , up 70.4% ** Gridsum Holding Inc , up 45.5% The top three Nasdaq percentage losers premarket .PRPL.O: ** South Mountain Merger Corp , down 99.1% ** Zosano Pharma Corp ZSAN.O, down 53.2% ** Selecta Biosciences Inc SELB.O down 37.9% ** VAALCO Energy Inc EGY.N: up 7.0% premarket BUZZ-Jumps on Q3 production outlook ** Bed Bath & Beyond Inc BBBY.O: up 24.0% premarket BUZZ-Surges as co swings to quarterly profit ** Abbott Laboratories ABT.N: up 0.9% premarket BUZZ-Up after Air Canada says finalizing order for 25,000 COVID-19 tests ** Pfizer Inc PFE.N: up 0.5% premarket BUZZ-Obtains FDA 'Fast Track' designation for muscle degeneration therapy ** Pennsylvania Real Estate Investment Trust: PEI.N: up 4.7% premarket BUZZ-Up on securing one-month extension to liquidity facility ** Advanced Emissions Solutions Inc ADES.O: up 43.6% premarket BUZZ-Surges on 15-year carbon supply contract ** Enlivex Therapeutics Ltd ENLV.O: up 70.4% premarket BUZZ-Surges on positive data from potential COVID-19 treatment ** Gridsum Holding Inc GSUM.O: up 45.5% premarket BUZZ-Soars on take-private offer ** American Equity Investment Life Holding Co AEL.N: up 53.0% premarket BUZZ-Jumps on report of Athene, MassMutual $3-bln-plus takeover bid ** Papa John's International Inc PZZA.O: up 1.2% premarket BUZZ-KeyBanc starts with 'overweight' rating ** Genworth Financial Inc GNW.N: down 9.9% premarket BUZZ-Drops on extension of merger agreement with Oceanwide ** Zillow Group Inc ZG.O: up 2.7% premarket BUZZ-Brokerages hike PTs on growth prospects ** Callon Petroleum Co CPE.N: up 14.9% premarket BUZZ-Jumps after signing asset monetization deals ** Solid Biosciences Inc SLDB.O: up 140.9% premarket BUZZ-Surges after FDA allows gene therapy trial to resumeUSN ** American Airlines Group Inc AAL.O: up 1.2% premarket ** United Airlines Holdings Inc UAL.O: up 1.5% premarket ** Delta Air Line Inc DAL.N: up 0.9% premarket ** Southwest Airlines Co LUV.N: up 0.7% premarket BUZZ-U.S. airlines: Up on talks of federal aid extension ** Boeing Co BA.N: up 2.5% premarket BUZZ-Up after FAA conducts 737 MAX test flight ** ProPhase Labs Inc PRPH.O: up 15.6% premarket BUZZ-Up on plans to acquire CLIA certified labs for COVID-19 testing ** Lonestar Resources LONE.O: down 16.9% premarket BUZZ-Slumps after bankruptcy filing ** Tesla Inc TSLA.O: up 2.1% premarket BUZZ-Set to open at 1-1/2 week high, cuts China Model 3 price ** AMAG Pharmaceuticals Inc AMAG.O: up 40.6% premarket BUZZ-Surges on report of potential takeover deal ** PepsiCo Inc PEP.O: up 0.7% premarket BUZZ-Gains on Q3 results, upbeat outlook as at-home snacking jumps ** Alibaba Group Holding Ltd BABA.N: up 0.6% premarket BUZZ-Up as Needham hikes PT on growth prospects ** LogicBio Therapeutics Inc LOGC.O: down 30.6% premarket BUZZ-Slumps on proposed stock offering ** Mastercard Inc MA.N: up 0.6% premarket BUZZ-JPMorgan hikes PT and estimates on positive growth trends ** Selecta Biosciences Inc SELB.O: down 37.9% premarket BUZZ-Plunges as drug fails to meet trial main goal (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to jump on the first day of the fourth quarter on Thursday as investors remained hopeful of a new coronavirus fiscal aid package, while data showed weekly jobless claims hovered at recession levels..N At 9:09 ET, Dow e-minis 1YMc1 were up 0.61% at 27,832. S&P 500 e-minis ESc1 were up 0.73% at 3,376.5, while Nasdaq 100 e-minis NQc1 were up 1.30% at 11,556. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** American Equity Investment Life Holding Co , up 53.0% ** HC2 Holdings Inc , up 18.0% ** Callon Petroleum Co , up 14.9% The top three NYSE percentage losers premarket .PRPL.NQ: ** Mizuho Financial Group Inc , down 89.9% ** Biglari Holdings Inc , down 15.7% ** Borr Drillng Ltd , down 9.9% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Solid Biosciences Inc , up 140.9% ** Enlivex Therapeutics Ltd , up 70.4% ** Gridsum Holding Inc , up 45.5% The top three Nasdaq percentage losers premarket .PRPL.O: ** South Mountain Merger Corp , down 99.1% ** Zosano Pharma Corp ZSAN.O, down 53.2% ** Selecta Biosciences Inc SELB.O down 37.9% ** VAALCO Energy Inc EGY.N: up 7.0% premarket BUZZ-Jumps on Q3 production outlook ** Bed Bath & Beyond Inc BBBY.O: up 24.0% premarket BUZZ-Surges as co swings to quarterly profit ** Abbott Laboratories ABT.N: up 0.9% premarket BUZZ-Up after Air Canada says finalizing order for 25,000 COVID-19 tests ** Pfizer Inc PFE.N: up 0.5% premarket BUZZ-Obtains FDA 'Fast Track' designation for muscle degeneration therapy ** Pennsylvania Real Estate Investment Trust: PEI.N: up 4.7% premarket BUZZ-Up on securing one-month extension to liquidity facility ** Advanced Emissions Solutions Inc ADES.O: up 43.6% premarket BUZZ-Surges on 15-year carbon supply contract ** Enlivex Therapeutics Ltd ENLV.O: up 70.4% premarket BUZZ-Surges on positive data from potential COVID-19 treatment ** Gridsum Holding Inc GSUM.O: up 45.5% premarket BUZZ-Soars on take-private offer ** American Equity Investment Life Holding Co AEL.N: up 53.0% premarket BUZZ-Jumps on report of Athene, MassMutual $3-bln-plus takeover bid ** Papa John's International Inc PZZA.O: up 1.2% premarket BUZZ-KeyBanc starts with 'overweight' rating ** Genworth Financial Inc GNW.N: down 9.9% premarket BUZZ-Drops on extension of merger agreement with Oceanwide ** Zillow Group Inc ZG.O: up 2.7% premarket BUZZ-Brokerages hike PTs on growth prospects ** Callon Petroleum Co CPE.N: up 14.9% premarket BUZZ-Jumps after signing asset monetization deals ** Solid Biosciences Inc SLDB.O: up 140.9% premarket BUZZ-Surges after FDA allows gene therapy trial to resumeUSN ** American Airlines Group Inc AAL.O: up 1.2% premarket ** United Airlines Holdings Inc UAL.O: up 1.5% premarket ** Delta Air Line Inc DAL.N: up 0.9% premarket ** Southwest Airlines Co LUV.N: up 0.7% premarket BUZZ-U.S. airlines: Up on talks of federal aid extension ** Boeing Co BA.N: up 2.5% premarket BUZZ-Up after FAA conducts 737 MAX test flight ** ProPhase Labs Inc PRPH.O: up 15.6% premarket BUZZ-Up on plans to acquire CLIA certified labs for COVID-19 testing ** Lonestar Resources LONE.O: down 16.9% premarket BUZZ-Slumps after bankruptcy filing ** Tesla Inc TSLA.O: up 2.1% premarket BUZZ-Set to open at 1-1/2 week high, cuts China Model 3 price ** AMAG Pharmaceuticals Inc AMAG.O: up 40.6% premarket BUZZ-Surges on report of potential takeover deal ** PepsiCo Inc PEP.O: up 0.7% premarket BUZZ-Gains on Q3 results, upbeat outlook as at-home snacking jumps ** Alibaba Group Holding Ltd BABA.N: up 0.6% premarket BUZZ-Up as Needham hikes PT on growth prospects ** LogicBio Therapeutics Inc LOGC.O: down 30.6% premarket BUZZ-Slumps on proposed stock offering ** Mastercard Inc MA.N: up 0.6% premarket BUZZ-JPMorgan hikes PT and estimates on positive growth trends ** Selecta Biosciences Inc SELB.O: down 37.9% premarket BUZZ-Plunges as drug fails to meet trial main goal (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were set to jump on the first day of the fourth quarter on Thursday as investors remained hopeful of a new coronavirus fiscal aid package, while data showed weekly jobless claims hovered at recession levels..N At 9:09 ET, Dow e-minis 1YMc1 were up 0.61% at 27,832. S&P 500 e-minis ESc1 were up 0.73% at 3,376.5, while Nasdaq 100 e-minis NQc1 were up 1.30% at 11,556. | 92f29edf-6ee7-4227-b5c6-362223b8dfc6 |
32415.0 | 2020-10-01 00:00:00 UTC | Owens & Minor Stock Up 4x This Year But The Rally Is Not Over Yet | ABT | https://www.nasdaq.com/articles/owens-minor-stock-up-4x-this-year-but-the-rally-is-not-over-yet-2020-10-01 | nan | nan | We believe Owens & Minor stock (NYSE:OMI), a global healthcare logistics company, could continue to rally in the near term. OMI stock trades at $22 currently, rising a whopping 4x since the beginning of the year. It traded at a pre-Covid high of $7 in February, and it is 202% above that level now. Also, OMI stock has gained 272% from the low of $6 seen in March 2020, as the Fed stimulus largely put investor concerns about the near-term survival of companies to rest.
Owens & Minorâs business is seeing a strong growth in the current pandemic due to an increased demand for personal protective equipment (PPE). This has led to the company revising its full year earnings outlook to $1.90 at the high end of the range, compared to a $1.20 figure previously. In fact, the $1.20 figure was also revised during the last quarter from $0.60 guidance earlier. As such, with the growth in earnings outlook, OMI stock saw a gradual uptick thus far in 2020. After the recently provided outlook, OMI stock sky-rocketed 47% to $20 in a single trading session on Sep 24. Despite the strong rally in OMI stock this year, we believe that the stock has more room for growth in the near future. Our conclusion is based on the company specific triggers, such as growth in PPE demand as well as taking into account the companyâs provided earnings outlook. We compare Owens & Minorâs stock performance during the current crisis with that during the 2008 recession in an interactive dashboard analysis.
2020 Coronavirus Crisis
Timeline of 2020 Crisis So Far:
12/12/2019: Coronavirus cases first reported in China
1/31/2020: WHO declares a global health emergency.
2/19/2020: Signs of effective containment in China and hopes of monetary easing by major central banks helps S&P 500 reach a record high
3/23/2020: S&P 500Â drops 34%Â from the peak level seen on Feb 19, as Covid-19 cases accelerate outside China. Doesnât help that oil prices crash in mid-March amid Saudi-led price war
From 3/24/2020: S&P 500Â recovers 50%Â from the lows seen on Mar 23, as the Fedâs multi-billion dollar stimulus package suppresses near-term survival anxiety and infuses liquidity into the system.
In contrast, hereâs how Owens & Minor and the broader market performed during the 2007/2008 crisis.
Timeline of 2007-08 Crisis
10/1/2007: Approximate pre-crisis peak in S&P 500 index
9/1/2008 â 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08)
3/1/2009: Approximate bottoming out of S&P 500 index
1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008)
Owens & Minor vs S&P 500 Performance Over 2007-08 Financial Crisis
OMI stock declined from levels of around $19 in September 2007 (pre-crisis peak for the markets) to levels of around $17 in March 2009 (as the markets bottomed out), implying OMI stock lost a mere 12% from its approximate pre-crisis peak. It recovered post the 2008 crisis, to levels of about $22 in early 2010, rising by 30% between March 2009 and January 2010. In comparison, the S&P 500 Index saw a decline of 51%, followed by a recovery of 48%.
Owens & Minorâs Lackluster Fundamentals
Owens & Minorâs Revenues declined from $9.8 billion in 2015 to $9.2 billion in 2019, owing to customer non-renewals after issues with servicing back in 2017 and 2018. The company posted a loss of $7.28 per share and $1.03 per share on GAAP basis in 2018 and 2019 respectively, compared to earnings of $1.65 in 2015. The companyâs Q2 2020 revenues were 24% below the level seen a year ago, and the EPS figure of $0 in Q2 2020 compares with a loss of $0.16 per share in the prior year quarter. This can largely be attributed to deferment of elective surgeries in Q2.
However, things look bright as we look forward with resumption of elective surgeries, and continued growth in PPE demand. While Owens & Minor total revenue could see a high-single-digit decline for the full year, at the mid-point of its guidance, the EPS of $1.75 on an adjusted basis would imply a 3x growth from the $0.60 figure in 2019.
Does Owens & Minor Have A Sufficient Cash Cushion To Meet Its Obligations Through The Coronavirus Crisis?
Owens & Minorâs total debt increased from $0.6 billion in 2016 to $1.3 at the end of Q2 2020, while its total cash decreased from $185 million to $101 million over the same period. The company also generated $150 million in cash from its operations in the first half of 2020, and it appears to be in a reasonable position to weather the crisis.
CONCLUSION
Phases of Covid-19 crisis:
Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally
Late-March 2020 onward: Social distancing measures + lockdowns
April 2020: Fed stimulus suppresses near-term survival anxiety
May-June 2020:Â Recovery of demand, with gradual lifting of lockdowns â no panic anymore despite a steady increase in the number of cases
July-September 2020: Poor Q2 results for many companies, but continued improvement in demand and a decline in the number of new cases and progress with vaccine development buoy expectations
Going by the current trends and continued growth in demand for PPE, we believe that OMI stock has more room for growth in the near future.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Also, OMI stock has gained 272% from the low of $6 seen in March 2020, as the Fed stimulus largely put investor concerns about the near-term survival of companies to rest. While Owens & Minor total revenue could see a high-single-digit decline for the full year, at the mid-point of its guidance, the EPS of $1.75 on an adjusted basis would imply a 3x growth from the $0.60 figure in 2019. Phases of Covid-19 crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns â no panic anymore despite a steady increase in the number of cases July-September 2020: Poor Q2 results for many companies, but continued improvement in demand and a decline in the number of new cases and progress with vaccine development buoy expectations Going by the current trends and continued growth in demand for PPE, we believe that OMI stock has more room for growth in the near future. | This has led to the company revising its full year earnings outlook to $1.90 at the high end of the range, compared to a $1.20 figure previously. Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 â 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Owens & Minor vs S&P 500 Performance Over 2007-08 Financial Crisis OMI stock declined from levels of around $19 in September 2007 (pre-crisis peak for the markets) to levels of around $17 in March 2009 (as the markets bottomed out), implying OMI stock lost a mere 12% from its approximate pre-crisis peak. Phases of Covid-19 crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns â no panic anymore despite a steady increase in the number of cases July-September 2020: Poor Q2 results for many companies, but continued improvement in demand and a decline in the number of new cases and progress with vaccine development buoy expectations Going by the current trends and continued growth in demand for PPE, we believe that OMI stock has more room for growth in the near future. | Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 â 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Owens & Minor vs S&P 500 Performance Over 2007-08 Financial Crisis OMI stock declined from levels of around $19 in September 2007 (pre-crisis peak for the markets) to levels of around $17 in March 2009 (as the markets bottomed out), implying OMI stock lost a mere 12% from its approximate pre-crisis peak. While Owens & Minor total revenue could see a high-single-digit decline for the full year, at the mid-point of its guidance, the EPS of $1.75 on an adjusted basis would imply a 3x growth from the $0.60 figure in 2019. Phases of Covid-19 crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns â no panic anymore despite a steady increase in the number of cases July-September 2020: Poor Q2 results for many companies, but continued improvement in demand and a decline in the number of new cases and progress with vaccine development buoy expectations Going by the current trends and continued growth in demand for PPE, we believe that OMI stock has more room for growth in the near future. | In contrast, hereâs how Owens & Minor and the broader market performed during the 2007/2008 crisis. Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 â 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Owens & Minor vs S&P 500 Performance Over 2007-08 Financial Crisis OMI stock declined from levels of around $19 in September 2007 (pre-crisis peak for the markets) to levels of around $17 in March 2009 (as the markets bottomed out), implying OMI stock lost a mere 12% from its approximate pre-crisis peak. While Owens & Minor total revenue could see a high-single-digit decline for the full year, at the mid-point of its guidance, the EPS of $1.75 on an adjusted basis would imply a 3x growth from the $0.60 figure in 2019. | 810eee81-83d6-4aac-a39c-abf4a3d395df |
32416.0 | 2020-10-01 00:00:00 UTC | Canadian aviation sector to be permanently hurt without aid, unions say | ABT | https://www.nasdaq.com/articles/canadian-aviation-sector-to-be-permanently-hurt-without-aid-unions-say-2020-10-01 | nan | nan | By David Ljunggren
OTTAWA, Oct 1 (Reuters) - Major Canadian labor unions on Thursday said the aviation sector would suffer permanent damage unless Ottawa provided a C$7 billion ($5.3 billion) 10-year low-interest loan to offset the effects of the coronavirus outbreak, which has slashed travel.
The unions, which represent more than 310,000 workers, said in a statement that Canada remained the only leading developed nation not to have unveiled concrete measures to help the travel and tourism sector.
"We need urgent funds for the aviation sector or there won't be Canadian airlines, and that will cost us all much more," said Jerry Dias of Unifor, Canada's largest private sector union.
The unions also want direct financial aid tied to the resumption and maintenance of air services.
The federal Liberal government of Prime Minister Justin Trudeau has repeatedly said it is looking at aid for the aviation sector but has yet to make any announcements.
"Airlines are extremely capital-intensive operations with a high cash-burn rate and the requirement to preserve liquidity to maintain equipment, routes and staff," the unions said.
The office of federal Transport Minister Marc Garneau was not immediately available for comment.
Air Canada AC.TO, the nation's largest carrier, wants Ottawa to relax travel restrictions which stipulate that people arriving from abroad must go into quarantine for 14 days to make sure they do not spread the virus.
Separately on Thursday, Air Canada said it was finalizing an initial order for 25,000 rapid testing kits from Abbott Laboratories ABT.N.
Dr. Jim Chung, the carrier's chief medical officer, said rapid testing was "a means to enable governments to relax current blanket travel restrictions and quarantines in a measured way".
($1=1.3296 Canadian dollars)
(Reporting by David Ljunggren Editing by Paul Simao)
((david.ljunggren@tr.com; +1 647 480 7891))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Separately on Thursday, Air Canada said it was finalizing an initial order for 25,000 rapid testing kits from Abbott Laboratories ABT.N. "Airlines are extremely capital-intensive operations with a high cash-burn rate and the requirement to preserve liquidity to maintain equipment, routes and staff," the unions said. Air Canada AC.TO, the nation's largest carrier, wants Ottawa to relax travel restrictions which stipulate that people arriving from abroad must go into quarantine for 14 days to make sure they do not spread the virus. | Separately on Thursday, Air Canada said it was finalizing an initial order for 25,000 rapid testing kits from Abbott Laboratories ABT.N. By David Ljunggren OTTAWA, Oct 1 (Reuters) - Major Canadian labor unions on Thursday said the aviation sector would suffer permanent damage unless Ottawa provided a C$7 billion ($5.3 billion) 10-year low-interest loan to offset the effects of the coronavirus outbreak, which has slashed travel. "We need urgent funds for the aviation sector or there won't be Canadian airlines, and that will cost us all much more," said Jerry Dias of Unifor, Canada's largest private sector union. | Separately on Thursday, Air Canada said it was finalizing an initial order for 25,000 rapid testing kits from Abbott Laboratories ABT.N. By David Ljunggren OTTAWA, Oct 1 (Reuters) - Major Canadian labor unions on Thursday said the aviation sector would suffer permanent damage unless Ottawa provided a C$7 billion ($5.3 billion) 10-year low-interest loan to offset the effects of the coronavirus outbreak, which has slashed travel. "We need urgent funds for the aviation sector or there won't be Canadian airlines, and that will cost us all much more," said Jerry Dias of Unifor, Canada's largest private sector union. | Separately on Thursday, Air Canada said it was finalizing an initial order for 25,000 rapid testing kits from Abbott Laboratories ABT.N. By David Ljunggren OTTAWA, Oct 1 (Reuters) - Major Canadian labor unions on Thursday said the aviation sector would suffer permanent damage unless Ottawa provided a C$7 billion ($5.3 billion) 10-year low-interest loan to offset the effects of the coronavirus outbreak, which has slashed travel. The unions, which represent more than 310,000 workers, said in a statement that Canada remained the only leading developed nation not to have unveiled concrete measures to help the travel and tourism sector. | 767ad5c0-5495-4da8-b08f-be1f3ff6851c |
32417.0 | 2020-09-30 00:00:00 UTC | Abbott Labs Stock is Not Cheap But Should Do Well as Virus Test Debuts | ABT | https://www.nasdaq.com/articles/abbott-labs-stock-is-not-cheap-but-should-do-well-as-virus-test-debuts-2020-09-30 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
At current levels, Abbott Laboratories (NYSE:ABT) is not that cheap but ABT stock should do reasonably well over the next year. For example, the shares trade for about 31.4 times this year’s earnings and 25 times 2021 earnings, according to Yahoo! Finance data.
Source: testing / Shutterstock.com
This is a good deal more expensive than other drug stocks like Pfizer (NYSE:PFE) and Bristol-Myers Squibb (NYSE:BMY). Pfizer trades for just 11 times 2021 forward earnings projections.
And Bristol-Myers Squibb is at just 8x forward earnings. In fact, I recently wrote an article showing how BMY stock is cheap.
But according to its own history ABT stock is still very cheap.
ABT Stock Cheap By Historical Standards
Morningstar has a history of ABT’s price-to-earnings ratios. It shows that the average was 69 times in the past five years. You can see this in the table on the right.
Click to EnlargeSource: Mark R. Hake, CFA
But without a certain high outlier year, the average is actually just 46.1x earnings.
This is still a good deal higher than the projections above of 31 times 2020 earnings and 25 times 2021.
The bottom line is that if ABT stock were to rise to its historical P/E ratio, it could rise another 84%. That is because the historical 46.1 P/E divided by its 2021 P/E ratio of 25 is an 84% premium.
Impact of Covid-19 Tests
Maybe ABT stock is worth more according to some analysts since it is responsible for producing fast-response Covid-19 tests for hospitals. Abbott announced on Sept. 16 that the FDA had granted emergency use authorization for its 15-minute Covid-19 test.
The test is called BinaxNow COVID-19 Ag Card rapid test and does not require any equipment to process samples or read the test results. It tests for antigens that detect certain proteins that are part of the Covid-19 virus.
Reuters said that the test will cost just $5.00 per unit. The kit is the size of a credit card and the nose swab is less invasive than traditional swab tests.
7 Sin Stocks To Buy That Will Outperform the S&P 500
Moreover, Abbott Labs has an app to allow people to show their results. This will allow them to show venues and large gatherings that they are Covid-19 free.
This is going to be quite popular and should bring significant revenue to Abbott Labs. The company plans on being able to ship 50 million of these tests a month starting in October.
Abbott Labs has also received five other authorizations for Covid-19 tests. One of them is called ID Now that can also deliver results in minutes. It is used at the White House to screen visitors.
Barron’s wrote that the U.S. government has already signed a contract for $760 million for the first 150 million of the tests. The publication reported that the U.S. has bought up all the run of the test through the end of 2020.
Huge Income Contribution
The government said on Sept. 1 that it expects to distribute “the overwhelming majority” of the Abbott Labs tests to states. They can use them to open schools and give to first responders.
The $3 billion in revenue that these tests will bring in will account for 6.57% of the $45.6 billion of the company’s 2021 forecast revenue. However, they are likely very profitable for the company. I estimate they will account for a huge portion of the $3 billion in net income the company made in the last 12 months to June.
In other words, if the Abbott Labs 15-minute Covid-19 test becomes the standard for the country, watch out. The company’s earnings could skyrocket.
So far the company has not said how much the test costs to produce, but the intellectual property portion of the cost is likely not much. And with higher production, the economies of scale reduce the per-test cost.
So, even though the ABT stock is not cheap, it appears to be so on both a historical P/E and forward-looking basis.
On the date of publication, Mark R. Hake did not have (either directly or indirectly) any positions in any of the securities mentioned in this article.
Mark Hake runs the Total Yield Value Guide which you can review here.
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The post Abbott Labs Stock is Not Cheap But Should Do Well as Virus Test Debuts appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips At current levels, Abbott Laboratories (NYSE:ABT) is not that cheap but ABT stock should do reasonably well over the next year. But according to its own history ABT stock is still very cheap. ABT Stock Cheap By Historical Standards Morningstar has a history of ABT’s price-to-earnings ratios. | ABT Stock Cheap By Historical Standards Morningstar has a history of ABT’s price-to-earnings ratios. InvestorPlace - Stock Market News, Stock Advice & Trading Tips At current levels, Abbott Laboratories (NYSE:ABT) is not that cheap but ABT stock should do reasonably well over the next year. But according to its own history ABT stock is still very cheap. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips At current levels, Abbott Laboratories (NYSE:ABT) is not that cheap but ABT stock should do reasonably well over the next year. Impact of Covid-19 Tests Maybe ABT stock is worth more according to some analysts since it is responsible for producing fast-response Covid-19 tests for hospitals. But according to its own history ABT stock is still very cheap. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips At current levels, Abbott Laboratories (NYSE:ABT) is not that cheap but ABT stock should do reasonably well over the next year. But according to its own history ABT stock is still very cheap. ABT Stock Cheap By Historical Standards Morningstar has a history of ABT’s price-to-earnings ratios. | 84afdac1-e6a2-45d9-be70-e425e7ca7942 |
32418.0 | 2020-09-29 00:00:00 UTC | Canada expects to approve new COVID-19 tests soon, govt official says | ABT | https://www.nasdaq.com/articles/canada-expects-to-approve-new-covid-19-tests-soon-govt-official-says-2020-09-29 | nan | nan | TORONTO, Sept 29 (Reuters) - Health Canada expects to authorize new antigen tests for COVID-19 soon, a senior government official said on Tuesday, in an effort to provide additional testing as a second wave of novel coronavirus infections overwhelms laboratories.
Antigen tests can provide rapid results outside of a lab, but may be less accurate than some lab-based diagnostic tests. They are already widely used in the United States and elsewhere.
"We have a number of them under review at the moment - it is our priority," Supriya Sharma, senior medical advisor for Health Canada, said during a media briefing. "For some of them we are, I think, very close to having a final decision."
Sharma said the tests under review could be used outside of healthcare settings.
While other countries have approved new ways to test for COVID-19 in recent months, like rapid point-of-care tests, much of Canada is stuck with the basics: deep nasal swabs collected by healthcare workers and sent off to labs.
Some experts have argued that widespread testing in schools and workplaces could help bring the pandemic under control.
The regulator is currently reviewing antigen tests from Abbott ABT.N, Quidel QDEL.O and Sona Nanotech SONA.CD, according to public data.
As of Sept. 28, Canada has reported 2,176 new cases, taking the total to 155,301, and ten new deaths taking the total 9,278, government data showed.
(Reporting by Allison Martell; Editing by Bernadette Baum)
((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. | The regulator is currently reviewing antigen tests from Abbott ABT.N, Quidel QDEL.O and Sona Nanotech SONA.CD, according to public data. "We have a number of them under review at the moment - it is our priority," Supriya Sharma, senior medical advisor for Health Canada, said during a media briefing. Some experts have argued that widespread testing in schools and workplaces could help bring the pandemic under control. | The regulator is currently reviewing antigen tests from Abbott ABT.N, Quidel QDEL.O and Sona Nanotech SONA.CD, according to public data. TORONTO, Sept 29 (Reuters) - Health Canada expects to authorize new antigen tests for COVID-19 soon, a senior government official said on Tuesday, in an effort to provide additional testing as a second wave of novel coronavirus infections overwhelms laboratories. Antigen tests can provide rapid results outside of a lab, but may be less accurate than some lab-based diagnostic tests. | The regulator is currently reviewing antigen tests from Abbott ABT.N, Quidel QDEL.O and Sona Nanotech SONA.CD, according to public data. TORONTO, Sept 29 (Reuters) - Health Canada expects to authorize new antigen tests for COVID-19 soon, a senior government official said on Tuesday, in an effort to provide additional testing as a second wave of novel coronavirus infections overwhelms laboratories. Antigen tests can provide rapid results outside of a lab, but may be less accurate than some lab-based diagnostic tests. | The regulator is currently reviewing antigen tests from Abbott ABT.N, Quidel QDEL.O and Sona Nanotech SONA.CD, according to public data. TORONTO, Sept 29 (Reuters) - Health Canada expects to authorize new antigen tests for COVID-19 soon, a senior government official said on Tuesday, in an effort to provide additional testing as a second wave of novel coronavirus infections overwhelms laboratories. Antigen tests can provide rapid results outside of a lab, but may be less accurate than some lab-based diagnostic tests. | 2f788924-3237-4ed1-b49c-e3c30809cea2 |
32419.0 | 2020-09-29 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Scorpio Bulkers, LifeSci Acquisition, Shutterstock, Intellia Therapeutics | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-scorpio-bulkers-lifesci-acquisition-shutterstock-intellia | nan | nan | Eikon search string for individual stock moves: STXBZ
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U.S. stocks inched lower in choppy trading on Tuesday after substantial gains a day earlier, with investors shifting their focus to the first presidential debate later in the day..N
At 11:53 a.m. ET, the Dow Jones Industrial Average .DJI was down 0.80% at 27,363.24. The S&P 500 .SPX was down 0.58% at 3,332.26 and the Nasdaq Composite .IXIC was down 0.26% at 11,088.227. The top three S&P 500 .PG.INX percentage gainers: ** Paycom Software Inc , up 2.7% ** Albemarle Corp , up 2.5% ** Qorvo Inc , up 2.5% The top three S&P 500 .PL.INX percentage losers: ** Devon Energy Corp , down 8% ** National Oilwell Varco Inc , down 7% ** Apache Corp , down 6.7% The top three NYSE .PG.N percentage gainers: ** Houston American Energy Corp , up 202.8% ** Mexco Energy Corp, up 37.8% ** Container Store Group Inc , up 11.2% The top three NYSE .PL.N percentage losers: ** Just Energy Group Inc , down 37.4% ** Myovant Sciences Ltd , down 22.4% ** Peabody Energy Corp , down 17.5% The top three Nasdaq .PG.O percentage gainers: ** Aptorum Group Ltd , up 708.2% ** U.S. Energy Corp , up 174.5% ** Novus Capital Corp , up 117.2% The top three Nasdaq .PL.O percentage losers: ** Oxbridge Re Holdings Ltd , down 26.4% ** Piedmont Lithium Ltd , down 23.1% ** SPI Energy Co Ltd , down 18.9% ** Scorpio Bulkers Inc SALT.N: up 3.9%
BUZZ-Up on sale of a Kamsarmax vessel
** LifeSci Acquisition Corp LSAC.O: up 12.9%
BUZZ-Jumps on cancer drug developer Vincera SPAC deal
** Shutterstock Inc SSTK.N: up 2.5%
BUZZ-Rises as BofA starts coverage with 'buy'
** Orphazyme A/S ORPH.O: down 6.3%
BUZZ-Shares of drugmaker fall in Nasdaq debut
** Adial Pharmaceuticals Inc ADIL.O: up 29.8%
BUZZ-Surges as FDA grants emergency use for COVID-19 antibody test
** Arcutis Biotherapeutics Inc ARQT.O: up 13.4%
BUZZ-Rises on positive data from skin disease treatment study
** Radware Ltd RDWR.O: up 0.2%
BUZZ-Gains on cloud security service deal with India's Airtel
** Vistra Corp VST.N: up 3.5%
BUZZ-Soars on lifting outlook, pivot to clean energy
** China Ceramics Co Ltd CCCL.O: down 4.2%
BUZZ-Drops as H1 revenue plummets on pandemic hit
** ONEOK Inc OKE.N: up 1.3%
BUZZ-Gains as UBS sees improving volume, upgrades to 'buy'
** NanoVibronix Inc NAOV.O: up 0.2%
BUZZ-Rises on filing U.S. patent for pain management device
** Beyond Meat Inc BYND.O: up 10.4%
BUZZ-Jumps as burger patty distribution at Walmart stores triples
** TTM Technologies Inc TTMI.O: up 0.9%
BUZZ-Rises as Craig-Hallum starts coverage with 'buy'
** Caesars Entertainment Inc CZR.O: down 7.7%
BUZZ-Falls after co prices upsized $1.7 bln equity offering
** JP Morgan Chase & Co JPM.N: down 1.7%
BUZZ-U.S. big banks fall as broader market remains muted ahead of presidential debate
** UTStarcom Holdings Corp UTSI.O: up 0.9%
BUZZ-Jumps on new product launch
** BioCardia Inc BCDA.O: up 1.8%
BUZZ-Rises on U.S. patent for catheter system
** Novus Capital Corp NOVS.O: up 22.5%
BUZZ-Soars on plan to take indoor farm operator AppHarvest public
** BridgeBio Pharma Inc BBIO.O: up 1.9%
BUZZ- FDA accepts application for rare metabolic disorder treatment
** Ardmore Shipping Corp ASC.N: up 6.6%
BUZZ-Rises on share buyback plan
** Artelo Biosciences Inc ARTL.O: up 18.9%
BUZZ-Soars as UK ethics panel approves cancer treatment study
** Molina Healthcare Inc MOH.N: up 3.0%
BUZZ-Affinity Health deal will boost New York presence - SVB Leerink
** Caesars Entertainment Inc CZR.O: down 7.7%
BUZZ-Falls after co prices $1.7 bln equity offering
** TransMedics Group Inc TMDX.O: down 9.2%
BUZZ-Down after FDA postpones review meeting for donor heart system
** Molson Coors Beverage Co TAP.N: up 1.0%
BUZZ-Gains on deal with Coca-Cola to launch alcoholic beverage
** Myovant Sciences Ltd MYOV.N: down 22.4%
BUZZ-Drops as cancer drug misses secondary goal in late-stage trial
** Ironwood Pharmaceuticals Inc IRWD.O: down 6.6%
BUZZ-Scraps development of digestive disorder drug, shares tumble
** Nikola Corp NKLA.O: down 7.0%
BUZZ-EV makers Tesla, Nikola on track to trade lower
** Big Lots Inc BIG.N: up 2.3%
BUZZ-Climbs on lifting Q3 outlook
** U.S. Energy Corp USEG.O: up 174.5%
BUZZ-Surges on buying FieldPoint Petroleum's upstream assets
** Sogou Inc SOGO.N: up 2.5%
BUZZ-Set to open at 2-year peak on Tencent's $3.5 bln take-private deal
** Fitbit Inc FIT.N: up 6.2%
BUZZ-Rises as Reuters reports Google set to win EU nod for $2.1 bln deal
** Fuelcell Energy Inc FCEL.O: up 3.5%
BUZZ-Rises on multiple project wins in Connecticut
** Aerie Pharmaceuticals Inc AERI.O: up 1.2%
BUZZ-Up as FDA approves clinical study for dry eye treatment
** Moleculin Biotech Inc MBRX.O: up 3.2%
BUZZ-New molecule in portfolio shows potential to fight COVID-19
** Abbott Laboratories ABT.N: up 0.9%
BUZZ-Rises as its COVID-19 test gets deployed
** Hershey Co HSY.N: up 0.1%
BUZZ-BMO upgrades, says Halloween concerns overblown
** United Natural Foods Inc UNFI.N: down 11.7%
BUZZ-CEO to retire, shares slip
** Tonix Pharmaceuticals Holding Corp TNXP.O: up 6.9%
BUZZ-Rises as co buys new facility to develop COVID-19 vaccines
** Sorrento Therapeutics Inc SRNE.O: up 17.6%
BUZZ-Up as COVID-19 antibody candidates show promise in study
** Fluidigm Corp FLDM.O: up 3.7%
BUZZ-Jumps on increased NIH funding to scale up COVID-19 testing
** Aptorum Group Ltd APM.O: up 708.2%
BUZZ-Surges after launching diagnostics subsidiary
** Party City Holdco Inc PRTY.N: down 8.6%
BUZZ-Loses sheen on plans of 13 mln share offering
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 0.09%
Consumer Discretionary
.SPLRCD
down 0.62%
Consumer Staples
.SPLRCS
down 0.73%
Energy
.SPNY
down 3.54%
Financial
.SPSY
down 1.60%
Health
.SPXHC
down 0.20%
Industrial
.SPLRCI
down 0.98%
Information Technology
.SPLRCT
down 0.22%
Materials
.SPLRCM
down 0.73%
Real Estate
.SPLRCR
down 0.88%
Utilities
.SPLRCU
down 0.27%
(Compiled by Niket Nishant in Bengaluru)
((Niket.Nishant@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Paycom Software Inc , up 2.7% ** Albemarle Corp , up 2.5% ** Qorvo Inc , up 2.5% The top three S&P 500 .PL.INX percentage losers: ** Devon Energy Corp , down 8% ** National Oilwell Varco Inc , down 7% ** Apache Corp , down 6.7% The top three NYSE .PG.N percentage gainers: ** Houston American Energy Corp , up 202.8% ** Mexco Energy Corp, up 37.8% ** Container Store Group Inc , up 11.2% The top three NYSE .PL.N percentage losers: ** Just Energy Group Inc , down 37.4% ** Myovant Sciences Ltd , down 22.4% ** Peabody Energy Corp , down 17.5% The top three Nasdaq .PG.O percentage gainers: ** Aptorum Group Ltd , up 708.2% ** U.S. Energy Corp , up 174.5% ** Novus Capital Corp , up 117.2% The top three Nasdaq .PL.O percentage losers: ** Oxbridge Re Holdings Ltd , down 26.4% ** Piedmont Lithium Ltd , down 23.1% ** SPI Energy Co Ltd , down 18.9% ** Scorpio Bulkers Inc SALT.N: up 3.9% BUZZ-Up on sale of a Kamsarmax vessel ** LifeSci Acquisition Corp LSAC.O: up 12.9% BUZZ-Jumps on cancer drug developer Vincera SPAC deal ** Shutterstock Inc SSTK.N: up 2.5% BUZZ-Rises as BofA starts coverage with 'buy' ** Orphazyme A/S ORPH.O: down 6.3% BUZZ-Shares of drugmaker fall in Nasdaq debut ** Adial Pharmaceuticals Inc ADIL.O: up 29.8% BUZZ-Surges as FDA grants emergency use for COVID-19 antibody test ** Arcutis Biotherapeutics Inc ARQT.O: up 13.4% BUZZ-Rises on positive data from skin disease treatment study ** Radware Ltd RDWR.O: up 0.2% BUZZ-Gains on cloud security service deal with India's Airtel ** Vistra Corp VST.N: up 3.5% BUZZ-Soars on lifting outlook, pivot to clean energy ** China Ceramics Co Ltd CCCL.O: down 4.2% BUZZ-Drops as H1 revenue plummets on pandemic hit ** ONEOK Inc OKE.N: up 1.3% BUZZ-Gains as UBS sees improving volume, upgrades to 'buy' ** NanoVibronix Inc NAOV.O: up 0.2% BUZZ-Rises on filing U.S. patent for pain management device ** Beyond Meat Inc BYND.O: up 10.4% BUZZ-Jumps as burger patty distribution at Walmart stores triples ** TTM Technologies Inc TTMI.O: up 0.9% BUZZ-Rises as Craig-Hallum starts coverage with 'buy' ** Caesars Entertainment Inc CZR.O: down 7.7% BUZZ-Falls after co prices upsized $1.7 bln equity offering ** JP Morgan Chase & Co JPM.N: down 1.7% BUZZ-U.S. big banks fall as broader market remains muted ahead of presidential debate ** UTStarcom Holdings Corp UTSI.O: up 0.9% BUZZ-Jumps on new product launch ** BioCardia Inc BCDA.O: up 1.8% BUZZ-Rises on U.S. patent for catheter system ** Novus Capital Corp NOVS.O: up 22.5% BUZZ-Soars on plan to take indoor farm operator AppHarvest public ** BridgeBio Pharma Inc BBIO.O: up 1.9% BUZZ- FDA accepts application for rare metabolic disorder treatment ** Ardmore Shipping Corp ASC.N: up 6.6% BUZZ-Rises on share buyback plan ** Artelo Biosciences Inc ARTL.O: up 18.9% BUZZ-Soars as UK ethics panel approves cancer treatment study ** Molina Healthcare Inc MOH.N: up 3.0% BUZZ-Affinity Health deal will boost New York presence - SVB Leerink ** Caesars Entertainment Inc CZR.O: down 7.7% BUZZ-Falls after co prices $1.7 bln equity offering ** TransMedics Group Inc TMDX.O: down 9.2% BUZZ-Down after FDA postpones review meeting for donor heart system ** Molson Coors Beverage Co TAP.N: up 1.0% BUZZ-Gains on deal with Coca-Cola to launch alcoholic beverage ** Myovant Sciences Ltd MYOV.N: down 22.4% BUZZ-Drops as cancer drug misses secondary goal in late-stage trial ** Ironwood Pharmaceuticals Inc IRWD.O: down 6.6% BUZZ-Scraps development of digestive disorder drug, shares tumble ** Nikola Corp NKLA.O: down 7.0% BUZZ-EV makers Tesla, Nikola on track to trade lower ** Big Lots Inc BIG.N: up 2.3% BUZZ-Climbs on lifting Q3 outlook ** U.S. Energy Corp USEG.O: up 174.5% BUZZ-Surges on buying FieldPoint Petroleum's upstream assets ** Sogou Inc SOGO.N: up 2.5% BUZZ-Set to open at 2-year peak on Tencent's $3.5 bln take-private deal ** Fitbit Inc FIT.N: up 6.2% BUZZ-Rises as Reuters reports Google set to win EU nod for $2.1 bln deal ** Fuelcell Energy Inc FCEL.O: up 3.5% BUZZ-Rises on multiple project wins in Connecticut ** Aerie Pharmaceuticals Inc AERI.O: up 1.2% BUZZ-Up as FDA approves clinical study for dry eye treatment ** Moleculin Biotech Inc MBRX.O: up 3.2% BUZZ-New molecule in portfolio shows potential to fight COVID-19 ** Abbott Laboratories ABT.N: up 0.9% BUZZ-Rises as its COVID-19 test gets deployed ** Hershey Co HSY.N: up 0.1% BUZZ-BMO upgrades, says Halloween concerns overblown ** United Natural Foods Inc UNFI.N: down 11.7% BUZZ-CEO to retire, shares slip ** Tonix Pharmaceuticals Holding Corp TNXP.O: up 6.9% BUZZ-Rises as co buys new facility to develop COVID-19 vaccines ** Sorrento Therapeutics Inc SRNE.O: up 17.6% BUZZ-Up as COVID-19 antibody candidates show promise in study ** Fluidigm Corp FLDM.O: up 3.7% BUZZ-Jumps on increased NIH funding to scale up COVID-19 testing ** Aptorum Group Ltd APM.O: up 708.2% BUZZ-Surges after launching diagnostics subsidiary ** Party City Holdco Inc PRTY.N: down 8.6% BUZZ-Loses sheen on plans of 13 mln share offering The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks inched lower in choppy trading on Tuesday after substantial gains a day earlier, with investors shifting their focus to the first presidential debate later in the day..N At 11:53 a.m. down 0.27% (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Paycom Software Inc , up 2.7% ** Albemarle Corp , up 2.5% ** Qorvo Inc , up 2.5% The top three S&P 500 .PL.INX percentage losers: ** Devon Energy Corp , down 8% ** National Oilwell Varco Inc , down 7% ** Apache Corp , down 6.7% The top three NYSE .PG.N percentage gainers: ** Houston American Energy Corp , up 202.8% ** Mexco Energy Corp, up 37.8% ** Container Store Group Inc , up 11.2% The top three NYSE .PL.N percentage losers: ** Just Energy Group Inc , down 37.4% ** Myovant Sciences Ltd , down 22.4% ** Peabody Energy Corp , down 17.5% The top three Nasdaq .PG.O percentage gainers: ** Aptorum Group Ltd , up 708.2% ** U.S. Energy Corp , up 174.5% ** Novus Capital Corp , up 117.2% The top three Nasdaq .PL.O percentage losers: ** Oxbridge Re Holdings Ltd , down 26.4% ** Piedmont Lithium Ltd , down 23.1% ** SPI Energy Co Ltd , down 18.9% ** Scorpio Bulkers Inc SALT.N: up 3.9% BUZZ-Up on sale of a Kamsarmax vessel ** LifeSci Acquisition Corp LSAC.O: up 12.9% BUZZ-Jumps on cancer drug developer Vincera SPAC deal ** Shutterstock Inc SSTK.N: up 2.5% BUZZ-Rises as BofA starts coverage with 'buy' ** Orphazyme A/S ORPH.O: down 6.3% BUZZ-Shares of drugmaker fall in Nasdaq debut ** Adial Pharmaceuticals Inc ADIL.O: up 29.8% BUZZ-Surges as FDA grants emergency use for COVID-19 antibody test ** Arcutis Biotherapeutics Inc ARQT.O: up 13.4% BUZZ-Rises on positive data from skin disease treatment study ** Radware Ltd RDWR.O: up 0.2% BUZZ-Gains on cloud security service deal with India's Airtel ** Vistra Corp VST.N: up 3.5% BUZZ-Soars on lifting outlook, pivot to clean energy ** China Ceramics Co Ltd CCCL.O: down 4.2% BUZZ-Drops as H1 revenue plummets on pandemic hit ** ONEOK Inc OKE.N: up 1.3% BUZZ-Gains as UBS sees improving volume, upgrades to 'buy' ** NanoVibronix Inc NAOV.O: up 0.2% BUZZ-Rises on filing U.S. patent for pain management device ** Beyond Meat Inc BYND.O: up 10.4% BUZZ-Jumps as burger patty distribution at Walmart stores triples ** TTM Technologies Inc TTMI.O: up 0.9% BUZZ-Rises as Craig-Hallum starts coverage with 'buy' ** Caesars Entertainment Inc CZR.O: down 7.7% BUZZ-Falls after co prices upsized $1.7 bln equity offering ** JP Morgan Chase & Co JPM.N: down 1.7% BUZZ-U.S. big banks fall as broader market remains muted ahead of presidential debate ** UTStarcom Holdings Corp UTSI.O: up 0.9% BUZZ-Jumps on new product launch ** BioCardia Inc BCDA.O: up 1.8% BUZZ-Rises on U.S. patent for catheter system ** Novus Capital Corp NOVS.O: up 22.5% BUZZ-Soars on plan to take indoor farm operator AppHarvest public ** BridgeBio Pharma Inc BBIO.O: up 1.9% BUZZ- FDA accepts application for rare metabolic disorder treatment ** Ardmore Shipping Corp ASC.N: up 6.6% BUZZ-Rises on share buyback plan ** Artelo Biosciences Inc ARTL.O: up 18.9% BUZZ-Soars as UK ethics panel approves cancer treatment study ** Molina Healthcare Inc MOH.N: up 3.0% BUZZ-Affinity Health deal will boost New York presence - SVB Leerink ** Caesars Entertainment Inc CZR.O: down 7.7% BUZZ-Falls after co prices $1.7 bln equity offering ** TransMedics Group Inc TMDX.O: down 9.2% BUZZ-Down after FDA postpones review meeting for donor heart system ** Molson Coors Beverage Co TAP.N: up 1.0% BUZZ-Gains on deal with Coca-Cola to launch alcoholic beverage ** Myovant Sciences Ltd MYOV.N: down 22.4% BUZZ-Drops as cancer drug misses secondary goal in late-stage trial ** Ironwood Pharmaceuticals Inc IRWD.O: down 6.6% BUZZ-Scraps development of digestive disorder drug, shares tumble ** Nikola Corp NKLA.O: down 7.0% BUZZ-EV makers Tesla, Nikola on track to trade lower ** Big Lots Inc BIG.N: up 2.3% BUZZ-Climbs on lifting Q3 outlook ** U.S. Energy Corp USEG.O: up 174.5% BUZZ-Surges on buying FieldPoint Petroleum's upstream assets ** Sogou Inc SOGO.N: up 2.5% BUZZ-Set to open at 2-year peak on Tencent's $3.5 bln take-private deal ** Fitbit Inc FIT.N: up 6.2% BUZZ-Rises as Reuters reports Google set to win EU nod for $2.1 bln deal ** Fuelcell Energy Inc FCEL.O: up 3.5% BUZZ-Rises on multiple project wins in Connecticut ** Aerie Pharmaceuticals Inc AERI.O: up 1.2% BUZZ-Up as FDA approves clinical study for dry eye treatment ** Moleculin Biotech Inc MBRX.O: up 3.2% BUZZ-New molecule in portfolio shows potential to fight COVID-19 ** Abbott Laboratories ABT.N: up 0.9% BUZZ-Rises as its COVID-19 test gets deployed ** Hershey Co HSY.N: up 0.1% BUZZ-BMO upgrades, says Halloween concerns overblown ** United Natural Foods Inc UNFI.N: down 11.7% BUZZ-CEO to retire, shares slip ** Tonix Pharmaceuticals Holding Corp TNXP.O: up 6.9% BUZZ-Rises as co buys new facility to develop COVID-19 vaccines ** Sorrento Therapeutics Inc SRNE.O: up 17.6% BUZZ-Up as COVID-19 antibody candidates show promise in study ** Fluidigm Corp FLDM.O: up 3.7% BUZZ-Jumps on increased NIH funding to scale up COVID-19 testing ** Aptorum Group Ltd APM.O: up 708.2% BUZZ-Surges after launching diagnostics subsidiary ** Party City Holdco Inc PRTY.N: down 8.6% BUZZ-Loses sheen on plans of 13 mln share offering The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks inched lower in choppy trading on Tuesday after substantial gains a day earlier, with investors shifting their focus to the first presidential debate later in the day..N At 11:53 a.m. down 0.27% (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Paycom Software Inc , up 2.7% ** Albemarle Corp , up 2.5% ** Qorvo Inc , up 2.5% The top three S&P 500 .PL.INX percentage losers: ** Devon Energy Corp , down 8% ** National Oilwell Varco Inc , down 7% ** Apache Corp , down 6.7% The top three NYSE .PG.N percentage gainers: ** Houston American Energy Corp , up 202.8% ** Mexco Energy Corp, up 37.8% ** Container Store Group Inc , up 11.2% The top three NYSE .PL.N percentage losers: ** Just Energy Group Inc , down 37.4% ** Myovant Sciences Ltd , down 22.4% ** Peabody Energy Corp , down 17.5% The top three Nasdaq .PG.O percentage gainers: ** Aptorum Group Ltd , up 708.2% ** U.S. Energy Corp , up 174.5% ** Novus Capital Corp , up 117.2% The top three Nasdaq .PL.O percentage losers: ** Oxbridge Re Holdings Ltd , down 26.4% ** Piedmont Lithium Ltd , down 23.1% ** SPI Energy Co Ltd , down 18.9% ** Scorpio Bulkers Inc SALT.N: up 3.9% BUZZ-Up on sale of a Kamsarmax vessel ** LifeSci Acquisition Corp LSAC.O: up 12.9% BUZZ-Jumps on cancer drug developer Vincera SPAC deal ** Shutterstock Inc SSTK.N: up 2.5% BUZZ-Rises as BofA starts coverage with 'buy' ** Orphazyme A/S ORPH.O: down 6.3% BUZZ-Shares of drugmaker fall in Nasdaq debut ** Adial Pharmaceuticals Inc ADIL.O: up 29.8% BUZZ-Surges as FDA grants emergency use for COVID-19 antibody test ** Arcutis Biotherapeutics Inc ARQT.O: up 13.4% BUZZ-Rises on positive data from skin disease treatment study ** Radware Ltd RDWR.O: up 0.2% BUZZ-Gains on cloud security service deal with India's Airtel ** Vistra Corp VST.N: up 3.5% BUZZ-Soars on lifting outlook, pivot to clean energy ** China Ceramics Co Ltd CCCL.O: down 4.2% BUZZ-Drops as H1 revenue plummets on pandemic hit ** ONEOK Inc OKE.N: up 1.3% BUZZ-Gains as UBS sees improving volume, upgrades to 'buy' ** NanoVibronix Inc NAOV.O: up 0.2% BUZZ-Rises on filing U.S. patent for pain management device ** Beyond Meat Inc BYND.O: up 10.4% BUZZ-Jumps as burger patty distribution at Walmart stores triples ** TTM Technologies Inc TTMI.O: up 0.9% BUZZ-Rises as Craig-Hallum starts coverage with 'buy' ** Caesars Entertainment Inc CZR.O: down 7.7% BUZZ-Falls after co prices upsized $1.7 bln equity offering ** JP Morgan Chase & Co JPM.N: down 1.7% BUZZ-U.S. big banks fall as broader market remains muted ahead of presidential debate ** UTStarcom Holdings Corp UTSI.O: up 0.9% BUZZ-Jumps on new product launch ** BioCardia Inc BCDA.O: up 1.8% BUZZ-Rises on U.S. patent for catheter system ** Novus Capital Corp NOVS.O: up 22.5% BUZZ-Soars on plan to take indoor farm operator AppHarvest public ** BridgeBio Pharma Inc BBIO.O: up 1.9% BUZZ- FDA accepts application for rare metabolic disorder treatment ** Ardmore Shipping Corp ASC.N: up 6.6% BUZZ-Rises on share buyback plan ** Artelo Biosciences Inc ARTL.O: up 18.9% BUZZ-Soars as UK ethics panel approves cancer treatment study ** Molina Healthcare Inc MOH.N: up 3.0% BUZZ-Affinity Health deal will boost New York presence - SVB Leerink ** Caesars Entertainment Inc CZR.O: down 7.7% BUZZ-Falls after co prices $1.7 bln equity offering ** TransMedics Group Inc TMDX.O: down 9.2% BUZZ-Down after FDA postpones review meeting for donor heart system ** Molson Coors Beverage Co TAP.N: up 1.0% BUZZ-Gains on deal with Coca-Cola to launch alcoholic beverage ** Myovant Sciences Ltd MYOV.N: down 22.4% BUZZ-Drops as cancer drug misses secondary goal in late-stage trial ** Ironwood Pharmaceuticals Inc IRWD.O: down 6.6% BUZZ-Scraps development of digestive disorder drug, shares tumble ** Nikola Corp NKLA.O: down 7.0% BUZZ-EV makers Tesla, Nikola on track to trade lower ** Big Lots Inc BIG.N: up 2.3% BUZZ-Climbs on lifting Q3 outlook ** U.S. Energy Corp USEG.O: up 174.5% BUZZ-Surges on buying FieldPoint Petroleum's upstream assets ** Sogou Inc SOGO.N: up 2.5% BUZZ-Set to open at 2-year peak on Tencent's $3.5 bln take-private deal ** Fitbit Inc FIT.N: up 6.2% BUZZ-Rises as Reuters reports Google set to win EU nod for $2.1 bln deal ** Fuelcell Energy Inc FCEL.O: up 3.5% BUZZ-Rises on multiple project wins in Connecticut ** Aerie Pharmaceuticals Inc AERI.O: up 1.2% BUZZ-Up as FDA approves clinical study for dry eye treatment ** Moleculin Biotech Inc MBRX.O: up 3.2% BUZZ-New molecule in portfolio shows potential to fight COVID-19 ** Abbott Laboratories ABT.N: up 0.9% BUZZ-Rises as its COVID-19 test gets deployed ** Hershey Co HSY.N: up 0.1% BUZZ-BMO upgrades, says Halloween concerns overblown ** United Natural Foods Inc UNFI.N: down 11.7% BUZZ-CEO to retire, shares slip ** Tonix Pharmaceuticals Holding Corp TNXP.O: up 6.9% BUZZ-Rises as co buys new facility to develop COVID-19 vaccines ** Sorrento Therapeutics Inc SRNE.O: up 17.6% BUZZ-Up as COVID-19 antibody candidates show promise in study ** Fluidigm Corp FLDM.O: up 3.7% BUZZ-Jumps on increased NIH funding to scale up COVID-19 testing ** Aptorum Group Ltd APM.O: up 708.2% BUZZ-Surges after launching diagnostics subsidiary ** Party City Holdco Inc PRTY.N: down 8.6% BUZZ-Loses sheen on plans of 13 mln share offering The 11 major S&P 500 sectors: Communication Services ET, the Dow Jones Industrial Average .DJI was down 0.80% at 27,363.24. down 0.09% Consumer Discretionary | The top three S&P 500 .PG.INX percentage gainers: ** Paycom Software Inc , up 2.7% ** Albemarle Corp , up 2.5% ** Qorvo Inc , up 2.5% The top three S&P 500 .PL.INX percentage losers: ** Devon Energy Corp , down 8% ** National Oilwell Varco Inc , down 7% ** Apache Corp , down 6.7% The top three NYSE .PG.N percentage gainers: ** Houston American Energy Corp , up 202.8% ** Mexco Energy Corp, up 37.8% ** Container Store Group Inc , up 11.2% The top three NYSE .PL.N percentage losers: ** Just Energy Group Inc , down 37.4% ** Myovant Sciences Ltd , down 22.4% ** Peabody Energy Corp , down 17.5% The top three Nasdaq .PG.O percentage gainers: ** Aptorum Group Ltd , up 708.2% ** U.S. Energy Corp , up 174.5% ** Novus Capital Corp , up 117.2% The top three Nasdaq .PL.O percentage losers: ** Oxbridge Re Holdings Ltd , down 26.4% ** Piedmont Lithium Ltd , down 23.1% ** SPI Energy Co Ltd , down 18.9% ** Scorpio Bulkers Inc SALT.N: up 3.9% BUZZ-Up on sale of a Kamsarmax vessel ** LifeSci Acquisition Corp LSAC.O: up 12.9% BUZZ-Jumps on cancer drug developer Vincera SPAC deal ** Shutterstock Inc SSTK.N: up 2.5% BUZZ-Rises as BofA starts coverage with 'buy' ** Orphazyme A/S ORPH.O: down 6.3% BUZZ-Shares of drugmaker fall in Nasdaq debut ** Adial Pharmaceuticals Inc ADIL.O: up 29.8% BUZZ-Surges as FDA grants emergency use for COVID-19 antibody test ** Arcutis Biotherapeutics Inc ARQT.O: up 13.4% BUZZ-Rises on positive data from skin disease treatment study ** Radware Ltd RDWR.O: up 0.2% BUZZ-Gains on cloud security service deal with India's Airtel ** Vistra Corp VST.N: up 3.5% BUZZ-Soars on lifting outlook, pivot to clean energy ** China Ceramics Co Ltd CCCL.O: down 4.2% BUZZ-Drops as H1 revenue plummets on pandemic hit ** ONEOK Inc OKE.N: up 1.3% BUZZ-Gains as UBS sees improving volume, upgrades to 'buy' ** NanoVibronix Inc NAOV.O: up 0.2% BUZZ-Rises on filing U.S. patent for pain management device ** Beyond Meat Inc BYND.O: up 10.4% BUZZ-Jumps as burger patty distribution at Walmart stores triples ** TTM Technologies Inc TTMI.O: up 0.9% BUZZ-Rises as Craig-Hallum starts coverage with 'buy' ** Caesars Entertainment Inc CZR.O: down 7.7% BUZZ-Falls after co prices upsized $1.7 bln equity offering ** JP Morgan Chase & Co JPM.N: down 1.7% BUZZ-U.S. big banks fall as broader market remains muted ahead of presidential debate ** UTStarcom Holdings Corp UTSI.O: up 0.9% BUZZ-Jumps on new product launch ** BioCardia Inc BCDA.O: up 1.8% BUZZ-Rises on U.S. patent for catheter system ** Novus Capital Corp NOVS.O: up 22.5% BUZZ-Soars on plan to take indoor farm operator AppHarvest public ** BridgeBio Pharma Inc BBIO.O: up 1.9% BUZZ- FDA accepts application for rare metabolic disorder treatment ** Ardmore Shipping Corp ASC.N: up 6.6% BUZZ-Rises on share buyback plan ** Artelo Biosciences Inc ARTL.O: up 18.9% BUZZ-Soars as UK ethics panel approves cancer treatment study ** Molina Healthcare Inc MOH.N: up 3.0% BUZZ-Affinity Health deal will boost New York presence - SVB Leerink ** Caesars Entertainment Inc CZR.O: down 7.7% BUZZ-Falls after co prices $1.7 bln equity offering ** TransMedics Group Inc TMDX.O: down 9.2% BUZZ-Down after FDA postpones review meeting for donor heart system ** Molson Coors Beverage Co TAP.N: up 1.0% BUZZ-Gains on deal with Coca-Cola to launch alcoholic beverage ** Myovant Sciences Ltd MYOV.N: down 22.4% BUZZ-Drops as cancer drug misses secondary goal in late-stage trial ** Ironwood Pharmaceuticals Inc IRWD.O: down 6.6% BUZZ-Scraps development of digestive disorder drug, shares tumble ** Nikola Corp NKLA.O: down 7.0% BUZZ-EV makers Tesla, Nikola on track to trade lower ** Big Lots Inc BIG.N: up 2.3% BUZZ-Climbs on lifting Q3 outlook ** U.S. Energy Corp USEG.O: up 174.5% BUZZ-Surges on buying FieldPoint Petroleum's upstream assets ** Sogou Inc SOGO.N: up 2.5% BUZZ-Set to open at 2-year peak on Tencent's $3.5 bln take-private deal ** Fitbit Inc FIT.N: up 6.2% BUZZ-Rises as Reuters reports Google set to win EU nod for $2.1 bln deal ** Fuelcell Energy Inc FCEL.O: up 3.5% BUZZ-Rises on multiple project wins in Connecticut ** Aerie Pharmaceuticals Inc AERI.O: up 1.2% BUZZ-Up as FDA approves clinical study for dry eye treatment ** Moleculin Biotech Inc MBRX.O: up 3.2% BUZZ-New molecule in portfolio shows potential to fight COVID-19 ** Abbott Laboratories ABT.N: up 0.9% BUZZ-Rises as its COVID-19 test gets deployed ** Hershey Co HSY.N: up 0.1% BUZZ-BMO upgrades, says Halloween concerns overblown ** United Natural Foods Inc UNFI.N: down 11.7% BUZZ-CEO to retire, shares slip ** Tonix Pharmaceuticals Holding Corp TNXP.O: up 6.9% BUZZ-Rises as co buys new facility to develop COVID-19 vaccines ** Sorrento Therapeutics Inc SRNE.O: up 17.6% BUZZ-Up as COVID-19 antibody candidates show promise in study ** Fluidigm Corp FLDM.O: up 3.7% BUZZ-Jumps on increased NIH funding to scale up COVID-19 testing ** Aptorum Group Ltd APM.O: up 708.2% BUZZ-Surges after launching diagnostics subsidiary ** Party City Holdco Inc PRTY.N: down 8.6% BUZZ-Loses sheen on plans of 13 mln share offering The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks inched lower in choppy trading on Tuesday after substantial gains a day earlier, with investors shifting their focus to the first presidential debate later in the day..N At 11:53 a.m. ET, the Dow Jones Industrial Average .DJI was down 0.80% at 27,363.24. | 248cf39b-96b1-4913-a32b-15f3dc370dcf |
32420.0 | 2020-09-29 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Infinity Pharmaceuticals, BioCardia, Caesars Entertainment, TransMedics Group | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-infinity-pharmaceuticals-biocardia-caesars-entertainment | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes were muted at the open on Tuesday as investors stayed away from making big bets ahead of the first presidential debate, while awaiting a reading on consumer confidence..N
At 9:59 ET, the Dow Jones Industrial Average .DJI was down 0.23% at 27,520.95. The S&P 500 .SPX was down 0.17% at 3,345.84 and the Nasdaq Composite .IXIC was down 0.07% at 11,109.394. The top three S&P 500 .PG.INX percentage gainers: ** Molson Coors Beverage Co , up 4% ** Paycom Software Inc , up 3.5% ** Western Digital Corp , up 3% The top three S&P 500 .PL.INX percentage losers: ** Devon Energy Corp , down 5% ** McCormick & Company Inc , down 3.8% ** Apache Corp , down 3.8% The top three NYSE .PG.N percentage gainers: ** Houston American Energy Corp , up 184.3% ** Mexco Energy Corp , up 53.7% ** Sos Ltd , up 12.9% The top three NYSE .PL.N percentage losers: ** Just Energy Group Inc , down 27.4% ** Myovant Sciences Ltd , down 23.5% ** Ambow Education Holding Ltd , down 18% The top three Nasdaq .PG.O percentage gainers: ** Aptorum Group Ltd , up 711.4% ** U.S. Energy Corp , up 177.8% ** Adial Pharmaceuticals Inc , up 45.8% The top three Nasdaq .PL.O percentage losers: ** Piedmont Lithium Ltd , down 17.8% ** CIM Commercial Trust Corp , down 17.2% ** Peck Company Holdings Inc , down 15.9%
** UTStarcom Holdings Corp UTSI.O: up 2.8%
BUZZ-Jumps on new product launch
** BioCardia Inc BCDA.O: up 4.7%
BUZZ-Rises on U.S. patent for catheter system
** Novus Capital Corp NOVS.O: up 22.0%
BUZZ-Soars on plan to take indoor farm operator AppHarvest public
** BridgeBio Pharma Inc BBIO.O: up 0.5%
BUZZ- FDA accepts application for rare metabolic disorder treatment
** Ardmore Shipping Corp ASC.N: up 12.0%
BUZZ-Rises on share buyback plan
** Artelo Biosciences Inc ARTL.O: up 25.0%
BUZZ-Soars as UK ethics panel approves cancer treatment study
** Molina Healthcare Inc MOH.N: up 3.0%
BUZZ-Affinity Health deal will boost New York presence - SVB Leerink
** Caesars Entertainment Inc CZR.O: down 1.9%
BUZZ-Falls after co prices $1.7 bln equity offering
** TransMedics Group Inc TMDX.O: down 10.5%
BUZZ-Down after FDA postpones review meeting for donor heart system
** Sino-Global Shipping America Ltd SINO.O: up 8.3%
BUZZ-Jumps on joint-venture deal with Tianjin Anboweiye
** Molson Coors Beverage Co TAP.N: up 4.1%
BUZZ-Gains on deal with Coca-Cola to launch alcoholic beverage
** Myovant Sciences Ltd MYOV.N: down 23.5%
BUZZ-Drops as cancer drug misses secondary goal in late-stage trial
** Ironwood Pharmaceuticals Inc IRWD.O: down 5.5%
BUZZ-Scraps development of digestive disorder drug, shares tumble
** Tesla Inc TSLA.O: down 1.8%
BUZZ-EV makers on track to trade lower
** Nikola Corp NKLA.O: down 4.5%
BUZZ-EV makers on track to trade lower
** Big Lots Inc BIG.N: up 6.2%
BUZZ-Climbs on lifting Q3 outlook
** U.S. Energy Corp USEG.O: up 177.8%
BUZZ-Surges on buying FieldPoint Petroleum's upstream assets
** Sogou Inc SOGO.N: up 2.5%
BUZZ-Set to open at 2-year peak on Tencent's $3.5 bln take-private deal
** Fitbit Inc FIT.N: up 6.2%
BUZZ-Rises as Reuters reports Google set to win EU nod for $2.1 bln deal
** Fuelcell Energy Inc FCEL.O: up 2.5%
BUZZ-Rises on multiple project wins in Connecticut
** Aerie Pharmaceuticals Inc AERI.O: up 1.1%
BUZZ-Up as FDA approves clinical study for dry eye treatment
** Moleculin Biotech Inc MBRX.O: up 2.5%
BUZZ-New molecule in portfolio shows potential to fight COVID-19
** Abbott Laboratories ABT.N: up 1.5%
BUZZ-Rises as its COVID-19 test gets deployed
** Hershey Co HSY.N: up 1.0%
BUZZ-BMO upgrades, says Halloween concerns overblown
** United Natural Foods Inc UNFI.N: down 10.5%
BUZZ-CEO to retire, shares slip
** Tonix Pharmaceuticals Holding Corp TNXP.O: up 4.3%
BUZZ-Rises as co buys new facility to develop COVID-19 vaccines
** Polaris Inc PII.N: up 2.2%
BUZZ-Up on partnership to make electric vehicles
** Sorrento Therapeutics Inc SRNE.O: up 9.7%
BUZZ-Up as COVID-19 antibody candidates show promise in study
** Fluidigm Corp FLDM.O: up 3.6%
BUZZ-Jumps on increased NIH funding to scale up COVID-19 testing
** Aptorum Group Ltd APM.O: up 711.4%
BUZZ-Surges after launching diagnostics subsidiary
** Party City Holdco Inc PRTY.N: down 3.7%
BUZZ-Loses sheen on plans of 13 mln share offering
** Providence Service Corp PRSC.O: up 2.2%
BUZZ-To acquire Simplura Health to expand into home care
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.25%
Consumer Discretionary
.SPLRCD
down 0.40%
Consumer Staples
.SPLRCS
down 0.06%
Energy
.SPNY
down 1.80%
Financial
.SPSY
down 0.69%
Health
.SPXHC
up 0.48%
Industrial
.SPLRCI
down 0.20%
Information Technology
.SPLRCT
down 0.09%
Materials
.SPLRCM
up 0.06%
Real Estate
.SPLRCR
down 0.34%
Utilities
.SPLRCU
up 0.27%
(Compiled by Niket Nishant in Bengaluru)
((Niket.Nishant@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Molson Coors Beverage Co , up 4% ** Paycom Software Inc , up 3.5% ** Western Digital Corp , up 3% The top three S&P 500 .PL.INX percentage losers: ** Devon Energy Corp , down 5% ** McCormick & Company Inc , down 3.8% ** Apache Corp , down 3.8% The top three NYSE .PG.N percentage gainers: ** Houston American Energy Corp , up 184.3% ** Mexco Energy Corp , up 53.7% ** Sos Ltd , up 12.9% The top three NYSE .PL.N percentage losers: ** Just Energy Group Inc , down 27.4% ** Myovant Sciences Ltd , down 23.5% ** Ambow Education Holding Ltd , down 18% The top three Nasdaq .PG.O percentage gainers: ** Aptorum Group Ltd , up 711.4% ** U.S. Energy Corp , up 177.8% ** Adial Pharmaceuticals Inc , up 45.8% The top three Nasdaq .PL.O percentage losers: ** Piedmont Lithium Ltd , down 17.8% ** CIM Commercial Trust Corp , down 17.2% ** Peck Company Holdings Inc , down 15.9% ** UTStarcom Holdings Corp UTSI.O: up 2.8% BUZZ-Jumps on new product launch ** BioCardia Inc BCDA.O: up 4.7% BUZZ-Rises on U.S. patent for catheter system ** Novus Capital Corp NOVS.O: up 22.0% BUZZ-Soars on plan to take indoor farm operator AppHarvest public ** BridgeBio Pharma Inc BBIO.O: up 0.5% BUZZ- FDA accepts application for rare metabolic disorder treatment ** Ardmore Shipping Corp ASC.N: up 12.0% BUZZ-Rises on share buyback plan ** Artelo Biosciences Inc ARTL.O: up 25.0% BUZZ-Soars as UK ethics panel approves cancer treatment study ** Molina Healthcare Inc MOH.N: up 3.0% BUZZ-Affinity Health deal will boost New York presence - SVB Leerink ** Caesars Entertainment Inc CZR.O: down 1.9% BUZZ-Falls after co prices $1.7 bln equity offering ** TransMedics Group Inc TMDX.O: down 10.5% BUZZ-Down after FDA postpones review meeting for donor heart system ** Sino-Global Shipping America Ltd SINO.O: up 8.3% BUZZ-Jumps on joint-venture deal with Tianjin Anboweiye ** Molson Coors Beverage Co TAP.N: up 4.1% BUZZ-Gains on deal with Coca-Cola to launch alcoholic beverage ** Myovant Sciences Ltd MYOV.N: down 23.5% BUZZ-Drops as cancer drug misses secondary goal in late-stage trial ** Ironwood Pharmaceuticals Inc IRWD.O: down 5.5% BUZZ-Scraps development of digestive disorder drug, shares tumble ** Tesla Inc TSLA.O: down 1.8% BUZZ-EV makers on track to trade lower ** Nikola Corp NKLA.O: down 4.5% BUZZ-EV makers on track to trade lower ** Big Lots Inc BIG.N: up 6.2% BUZZ-Climbs on lifting Q3 outlook ** U.S. Energy Corp USEG.O: up 177.8% BUZZ-Surges on buying FieldPoint Petroleum's upstream assets ** Sogou Inc SOGO.N: up 2.5% BUZZ-Set to open at 2-year peak on Tencent's $3.5 bln take-private deal ** Fitbit Inc FIT.N: up 6.2% BUZZ-Rises as Reuters reports Google set to win EU nod for $2.1 bln deal ** Fuelcell Energy Inc FCEL.O: up 2.5% BUZZ-Rises on multiple project wins in Connecticut ** Aerie Pharmaceuticals Inc AERI.O: up 1.1% BUZZ-Up as FDA approves clinical study for dry eye treatment ** Moleculin Biotech Inc MBRX.O: up 2.5% BUZZ-New molecule in portfolio shows potential to fight COVID-19 ** Abbott Laboratories ABT.N: up 1.5% BUZZ-Rises as its COVID-19 test gets deployed ** Hershey Co HSY.N: up 1.0% BUZZ-BMO upgrades, says Halloween concerns overblown ** United Natural Foods Inc UNFI.N: down 10.5% BUZZ-CEO to retire, shares slip ** Tonix Pharmaceuticals Holding Corp TNXP.O: up 4.3% BUZZ-Rises as co buys new facility to develop COVID-19 vaccines ** Polaris Inc PII.N: up 2.2% BUZZ-Up on partnership to make electric vehicles ** Sorrento Therapeutics Inc SRNE.O: up 9.7% BUZZ-Up as COVID-19 antibody candidates show promise in study ** Fluidigm Corp FLDM.O: up 3.6% BUZZ-Jumps on increased NIH funding to scale up COVID-19 testing ** Aptorum Group Ltd APM.O: up 711.4% BUZZ-Surges after launching diagnostics subsidiary ** Party City Holdco Inc PRTY.N: down 3.7% BUZZ-Loses sheen on plans of 13 mln share offering ** Providence Service Corp PRSC.O: up 2.2% BUZZ-To acquire Simplura Health to expand into home care The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were muted at the open on Tuesday as investors stayed away from making big bets ahead of the first presidential debate, while awaiting a reading on consumer confidence..N At 9:59 ET, the Dow Jones Industrial Average .DJI was down 0.23% at 27,520.95. up 0.27% (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Molson Coors Beverage Co , up 4% ** Paycom Software Inc , up 3.5% ** Western Digital Corp , up 3% The top three S&P 500 .PL.INX percentage losers: ** Devon Energy Corp , down 5% ** McCormick & Company Inc , down 3.8% ** Apache Corp , down 3.8% The top three NYSE .PG.N percentage gainers: ** Houston American Energy Corp , up 184.3% ** Mexco Energy Corp , up 53.7% ** Sos Ltd , up 12.9% The top three NYSE .PL.N percentage losers: ** Just Energy Group Inc , down 27.4% ** Myovant Sciences Ltd , down 23.5% ** Ambow Education Holding Ltd , down 18% The top three Nasdaq .PG.O percentage gainers: ** Aptorum Group Ltd , up 711.4% ** U.S. Energy Corp , up 177.8% ** Adial Pharmaceuticals Inc , up 45.8% The top three Nasdaq .PL.O percentage losers: ** Piedmont Lithium Ltd , down 17.8% ** CIM Commercial Trust Corp , down 17.2% ** Peck Company Holdings Inc , down 15.9% ** UTStarcom Holdings Corp UTSI.O: up 2.8% BUZZ-Jumps on new product launch ** BioCardia Inc BCDA.O: up 4.7% BUZZ-Rises on U.S. patent for catheter system ** Novus Capital Corp NOVS.O: up 22.0% BUZZ-Soars on plan to take indoor farm operator AppHarvest public ** BridgeBio Pharma Inc BBIO.O: up 0.5% BUZZ- FDA accepts application for rare metabolic disorder treatment ** Ardmore Shipping Corp ASC.N: up 12.0% BUZZ-Rises on share buyback plan ** Artelo Biosciences Inc ARTL.O: up 25.0% BUZZ-Soars as UK ethics panel approves cancer treatment study ** Molina Healthcare Inc MOH.N: up 3.0% BUZZ-Affinity Health deal will boost New York presence - SVB Leerink ** Caesars Entertainment Inc CZR.O: down 1.9% BUZZ-Falls after co prices $1.7 bln equity offering ** TransMedics Group Inc TMDX.O: down 10.5% BUZZ-Down after FDA postpones review meeting for donor heart system ** Sino-Global Shipping America Ltd SINO.O: up 8.3% BUZZ-Jumps on joint-venture deal with Tianjin Anboweiye ** Molson Coors Beverage Co TAP.N: up 4.1% BUZZ-Gains on deal with Coca-Cola to launch alcoholic beverage ** Myovant Sciences Ltd MYOV.N: down 23.5% BUZZ-Drops as cancer drug misses secondary goal in late-stage trial ** Ironwood Pharmaceuticals Inc IRWD.O: down 5.5% BUZZ-Scraps development of digestive disorder drug, shares tumble ** Tesla Inc TSLA.O: down 1.8% BUZZ-EV makers on track to trade lower ** Nikola Corp NKLA.O: down 4.5% BUZZ-EV makers on track to trade lower ** Big Lots Inc BIG.N: up 6.2% BUZZ-Climbs on lifting Q3 outlook ** U.S. Energy Corp USEG.O: up 177.8% BUZZ-Surges on buying FieldPoint Petroleum's upstream assets ** Sogou Inc SOGO.N: up 2.5% BUZZ-Set to open at 2-year peak on Tencent's $3.5 bln take-private deal ** Fitbit Inc FIT.N: up 6.2% BUZZ-Rises as Reuters reports Google set to win EU nod for $2.1 bln deal ** Fuelcell Energy Inc FCEL.O: up 2.5% BUZZ-Rises on multiple project wins in Connecticut ** Aerie Pharmaceuticals Inc AERI.O: up 1.1% BUZZ-Up as FDA approves clinical study for dry eye treatment ** Moleculin Biotech Inc MBRX.O: up 2.5% BUZZ-New molecule in portfolio shows potential to fight COVID-19 ** Abbott Laboratories ABT.N: up 1.5% BUZZ-Rises as its COVID-19 test gets deployed ** Hershey Co HSY.N: up 1.0% BUZZ-BMO upgrades, says Halloween concerns overblown ** United Natural Foods Inc UNFI.N: down 10.5% BUZZ-CEO to retire, shares slip ** Tonix Pharmaceuticals Holding Corp TNXP.O: up 4.3% BUZZ-Rises as co buys new facility to develop COVID-19 vaccines ** Polaris Inc PII.N: up 2.2% BUZZ-Up on partnership to make electric vehicles ** Sorrento Therapeutics Inc SRNE.O: up 9.7% BUZZ-Up as COVID-19 antibody candidates show promise in study ** Fluidigm Corp FLDM.O: up 3.6% BUZZ-Jumps on increased NIH funding to scale up COVID-19 testing ** Aptorum Group Ltd APM.O: up 711.4% BUZZ-Surges after launching diagnostics subsidiary ** Party City Holdco Inc PRTY.N: down 3.7% BUZZ-Loses sheen on plans of 13 mln share offering ** Providence Service Corp PRSC.O: up 2.2% BUZZ-To acquire Simplura Health to expand into home care The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were muted at the open on Tuesday as investors stayed away from making big bets ahead of the first presidential debate, while awaiting a reading on consumer confidence..N At 9:59 ET, the Dow Jones Industrial Average .DJI was down 0.23% at 27,520.95. up 0.27% (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Molson Coors Beverage Co , up 4% ** Paycom Software Inc , up 3.5% ** Western Digital Corp , up 3% The top three S&P 500 .PL.INX percentage losers: ** Devon Energy Corp , down 5% ** McCormick & Company Inc , down 3.8% ** Apache Corp , down 3.8% The top three NYSE .PG.N percentage gainers: ** Houston American Energy Corp , up 184.3% ** Mexco Energy Corp , up 53.7% ** Sos Ltd , up 12.9% The top three NYSE .PL.N percentage losers: ** Just Energy Group Inc , down 27.4% ** Myovant Sciences Ltd , down 23.5% ** Ambow Education Holding Ltd , down 18% The top three Nasdaq .PG.O percentage gainers: ** Aptorum Group Ltd , up 711.4% ** U.S. Energy Corp , up 177.8% ** Adial Pharmaceuticals Inc , up 45.8% The top three Nasdaq .PL.O percentage losers: ** Piedmont Lithium Ltd , down 17.8% ** CIM Commercial Trust Corp , down 17.2% ** Peck Company Holdings Inc , down 15.9% ** UTStarcom Holdings Corp UTSI.O: up 2.8% BUZZ-Jumps on new product launch ** BioCardia Inc BCDA.O: up 4.7% BUZZ-Rises on U.S. patent for catheter system ** Novus Capital Corp NOVS.O: up 22.0% BUZZ-Soars on plan to take indoor farm operator AppHarvest public ** BridgeBio Pharma Inc BBIO.O: up 0.5% BUZZ- FDA accepts application for rare metabolic disorder treatment ** Ardmore Shipping Corp ASC.N: up 12.0% BUZZ-Rises on share buyback plan ** Artelo Biosciences Inc ARTL.O: up 25.0% BUZZ-Soars as UK ethics panel approves cancer treatment study ** Molina Healthcare Inc MOH.N: up 3.0% BUZZ-Affinity Health deal will boost New York presence - SVB Leerink ** Caesars Entertainment Inc CZR.O: down 1.9% BUZZ-Falls after co prices $1.7 bln equity offering ** TransMedics Group Inc TMDX.O: down 10.5% BUZZ-Down after FDA postpones review meeting for donor heart system ** Sino-Global Shipping America Ltd SINO.O: up 8.3% BUZZ-Jumps on joint-venture deal with Tianjin Anboweiye ** Molson Coors Beverage Co TAP.N: up 4.1% BUZZ-Gains on deal with Coca-Cola to launch alcoholic beverage ** Myovant Sciences Ltd MYOV.N: down 23.5% BUZZ-Drops as cancer drug misses secondary goal in late-stage trial ** Ironwood Pharmaceuticals Inc IRWD.O: down 5.5% BUZZ-Scraps development of digestive disorder drug, shares tumble ** Tesla Inc TSLA.O: down 1.8% BUZZ-EV makers on track to trade lower ** Nikola Corp NKLA.O: down 4.5% BUZZ-EV makers on track to trade lower ** Big Lots Inc BIG.N: up 6.2% BUZZ-Climbs on lifting Q3 outlook ** U.S. Energy Corp USEG.O: up 177.8% BUZZ-Surges on buying FieldPoint Petroleum's upstream assets ** Sogou Inc SOGO.N: up 2.5% BUZZ-Set to open at 2-year peak on Tencent's $3.5 bln take-private deal ** Fitbit Inc FIT.N: up 6.2% BUZZ-Rises as Reuters reports Google set to win EU nod for $2.1 bln deal ** Fuelcell Energy Inc FCEL.O: up 2.5% BUZZ-Rises on multiple project wins in Connecticut ** Aerie Pharmaceuticals Inc AERI.O: up 1.1% BUZZ-Up as FDA approves clinical study for dry eye treatment ** Moleculin Biotech Inc MBRX.O: up 2.5% BUZZ-New molecule in portfolio shows potential to fight COVID-19 ** Abbott Laboratories ABT.N: up 1.5% BUZZ-Rises as its COVID-19 test gets deployed ** Hershey Co HSY.N: up 1.0% BUZZ-BMO upgrades, says Halloween concerns overblown ** United Natural Foods Inc UNFI.N: down 10.5% BUZZ-CEO to retire, shares slip ** Tonix Pharmaceuticals Holding Corp TNXP.O: up 4.3% BUZZ-Rises as co buys new facility to develop COVID-19 vaccines ** Polaris Inc PII.N: up 2.2% BUZZ-Up on partnership to make electric vehicles ** Sorrento Therapeutics Inc SRNE.O: up 9.7% BUZZ-Up as COVID-19 antibody candidates show promise in study ** Fluidigm Corp FLDM.O: up 3.6% BUZZ-Jumps on increased NIH funding to scale up COVID-19 testing ** Aptorum Group Ltd APM.O: up 711.4% BUZZ-Surges after launching diagnostics subsidiary ** Party City Holdco Inc PRTY.N: down 3.7% BUZZ-Loses sheen on plans of 13 mln share offering ** Providence Service Corp PRSC.O: up 2.2% BUZZ-To acquire Simplura Health to expand into home care The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were muted at the open on Tuesday as investors stayed away from making big bets ahead of the first presidential debate, while awaiting a reading on consumer confidence..N At 9:59 ET, the Dow Jones Industrial Average .DJI was down 0.23% at 27,520.95. down 0.20% Information Technology | The top three S&P 500 .PG.INX percentage gainers: ** Molson Coors Beverage Co , up 4% ** Paycom Software Inc , up 3.5% ** Western Digital Corp , up 3% The top three S&P 500 .PL.INX percentage losers: ** Devon Energy Corp , down 5% ** McCormick & Company Inc , down 3.8% ** Apache Corp , down 3.8% The top three NYSE .PG.N percentage gainers: ** Houston American Energy Corp , up 184.3% ** Mexco Energy Corp , up 53.7% ** Sos Ltd , up 12.9% The top three NYSE .PL.N percentage losers: ** Just Energy Group Inc , down 27.4% ** Myovant Sciences Ltd , down 23.5% ** Ambow Education Holding Ltd , down 18% The top three Nasdaq .PG.O percentage gainers: ** Aptorum Group Ltd , up 711.4% ** U.S. Energy Corp , up 177.8% ** Adial Pharmaceuticals Inc , up 45.8% The top three Nasdaq .PL.O percentage losers: ** Piedmont Lithium Ltd , down 17.8% ** CIM Commercial Trust Corp , down 17.2% ** Peck Company Holdings Inc , down 15.9% ** UTStarcom Holdings Corp UTSI.O: up 2.8% BUZZ-Jumps on new product launch ** BioCardia Inc BCDA.O: up 4.7% BUZZ-Rises on U.S. patent for catheter system ** Novus Capital Corp NOVS.O: up 22.0% BUZZ-Soars on plan to take indoor farm operator AppHarvest public ** BridgeBio Pharma Inc BBIO.O: up 0.5% BUZZ- FDA accepts application for rare metabolic disorder treatment ** Ardmore Shipping Corp ASC.N: up 12.0% BUZZ-Rises on share buyback plan ** Artelo Biosciences Inc ARTL.O: up 25.0% BUZZ-Soars as UK ethics panel approves cancer treatment study ** Molina Healthcare Inc MOH.N: up 3.0% BUZZ-Affinity Health deal will boost New York presence - SVB Leerink ** Caesars Entertainment Inc CZR.O: down 1.9% BUZZ-Falls after co prices $1.7 bln equity offering ** TransMedics Group Inc TMDX.O: down 10.5% BUZZ-Down after FDA postpones review meeting for donor heart system ** Sino-Global Shipping America Ltd SINO.O: up 8.3% BUZZ-Jumps on joint-venture deal with Tianjin Anboweiye ** Molson Coors Beverage Co TAP.N: up 4.1% BUZZ-Gains on deal with Coca-Cola to launch alcoholic beverage ** Myovant Sciences Ltd MYOV.N: down 23.5% BUZZ-Drops as cancer drug misses secondary goal in late-stage trial ** Ironwood Pharmaceuticals Inc IRWD.O: down 5.5% BUZZ-Scraps development of digestive disorder drug, shares tumble ** Tesla Inc TSLA.O: down 1.8% BUZZ-EV makers on track to trade lower ** Nikola Corp NKLA.O: down 4.5% BUZZ-EV makers on track to trade lower ** Big Lots Inc BIG.N: up 6.2% BUZZ-Climbs on lifting Q3 outlook ** U.S. Energy Corp USEG.O: up 177.8% BUZZ-Surges on buying FieldPoint Petroleum's upstream assets ** Sogou Inc SOGO.N: up 2.5% BUZZ-Set to open at 2-year peak on Tencent's $3.5 bln take-private deal ** Fitbit Inc FIT.N: up 6.2% BUZZ-Rises as Reuters reports Google set to win EU nod for $2.1 bln deal ** Fuelcell Energy Inc FCEL.O: up 2.5% BUZZ-Rises on multiple project wins in Connecticut ** Aerie Pharmaceuticals Inc AERI.O: up 1.1% BUZZ-Up as FDA approves clinical study for dry eye treatment ** Moleculin Biotech Inc MBRX.O: up 2.5% BUZZ-New molecule in portfolio shows potential to fight COVID-19 ** Abbott Laboratories ABT.N: up 1.5% BUZZ-Rises as its COVID-19 test gets deployed ** Hershey Co HSY.N: up 1.0% BUZZ-BMO upgrades, says Halloween concerns overblown ** United Natural Foods Inc UNFI.N: down 10.5% BUZZ-CEO to retire, shares slip ** Tonix Pharmaceuticals Holding Corp TNXP.O: up 4.3% BUZZ-Rises as co buys new facility to develop COVID-19 vaccines ** Polaris Inc PII.N: up 2.2% BUZZ-Up on partnership to make electric vehicles ** Sorrento Therapeutics Inc SRNE.O: up 9.7% BUZZ-Up as COVID-19 antibody candidates show promise in study ** Fluidigm Corp FLDM.O: up 3.6% BUZZ-Jumps on increased NIH funding to scale up COVID-19 testing ** Aptorum Group Ltd APM.O: up 711.4% BUZZ-Surges after launching diagnostics subsidiary ** Party City Holdco Inc PRTY.N: down 3.7% BUZZ-Loses sheen on plans of 13 mln share offering ** Providence Service Corp PRSC.O: up 2.2% BUZZ-To acquire Simplura Health to expand into home care The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes were muted at the open on Tuesday as investors stayed away from making big bets ahead of the first presidential debate, while awaiting a reading on consumer confidence..N At 9:59 ET, the Dow Jones Industrial Average .DJI was down 0.23% at 27,520.95. The S&P 500 .SPX was down 0.17% at 3,345.84 and the Nasdaq Composite .IXIC was down 0.07% at 11,109.394. | a11c7789-b053-4249-90fb-7038c4508b30 |
32421.0 | 2020-09-29 00:00:00 UTC | 120 Million Coronavirus Tests to Be Sold to Low- and Middle-Income Countries at Steep Discount | ABT | https://www.nasdaq.com/articles/120-million-coronavirus-tests-to-be-sold-to-low-and-middle-income-countries-at-steep | nan | nan | A global partnership will be making 120 million rapid coronavirus tests available to 133 economically less-advantaged nations at heavily discounted prices, the World Health Organization (WHO) announced on Monday. The tests will be supplied by U.S.-based Abbott (NYSE: ABT) and South Korea's SD Biosensor, over a period of six months, and will cost the purchasing nations $5 or less apiece.
The plan is the result of a series of agreements between the two pharmaceutical companies and several nonprofit organizations, NGOs, and public health agencies, including the WHO, the Bill and Melinda Gates Foundation, and the Global Fund.
The rapid diagnostic antigen tests produced by Abbott and SD Biosensor are both easily portable -- all the better to transport to remote areas -- and relatively straightforward to administer. Another advantage is that they do not require laboratory processing, and produce reliable results in half an hour or less.Â
Image source: Getty Images.
This initiative will be bolstered by an initial $50 million provided by the Global Fund, an international nonprofit dedicated to tackling epidemics. That will provide for an initial 10 million tests, the first orders for which should be placed this week.
"Testing is a critical cornerstone of the COVID-19 response, enabling countries to trace and contain the virus now, and to prepare for the roll-out of vaccines once available," the WHO said in the press release announcing the initiative. "Effective testing strategies rely on a portfolio of test types that can be used in different settings and situations.
Although numerous COVID-19 vaccine candidates are currently in development, none has yet completed its clinical testing, nor have any been approved for use by a major regulator.
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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The tests will be supplied by U.S.-based Abbott (NYSE: ABT) and South Korea's SD Biosensor, over a period of six months, and will cost the purchasing nations $5 or less apiece. A global partnership will be making 120 million rapid coronavirus tests available to 133 economically less-advantaged nations at heavily discounted prices, the World Health Organization (WHO) announced on Monday. The plan is the result of a series of agreements between the two pharmaceutical companies and several nonprofit organizations, NGOs, and public health agencies, including the WHO, the Bill and Melinda Gates Foundation, and the Global Fund. | The tests will be supplied by U.S.-based Abbott (NYSE: ABT) and South Korea's SD Biosensor, over a period of six months, and will cost the purchasing nations $5 or less apiece. The rapid diagnostic antigen tests produced by Abbott and SD Biosensor are both easily portable -- all the better to transport to remote areas -- and relatively straightforward to administer. This initiative will be bolstered by an initial $50 million provided by the Global Fund, an international nonprofit dedicated to tackling epidemics. | The tests will be supplied by U.S.-based Abbott (NYSE: ABT) and South Korea's SD Biosensor, over a period of six months, and will cost the purchasing nations $5 or less apiece. A global partnership will be making 120 million rapid coronavirus tests available to 133 economically less-advantaged nations at heavily discounted prices, the World Health Organization (WHO) announced on Monday. 10 stocks we like better than Abbott Laboratories When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | The tests will be supplied by U.S.-based Abbott (NYSE: ABT) and South Korea's SD Biosensor, over a period of six months, and will cost the purchasing nations $5 or less apiece. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. See the 10 stocks | 6cda018c-cc91-4769-bae7-7454a9b98250 |
32422.0 | 2020-09-29 00:00:00 UTC | Why I Bought Shares in This International Stock | ABT | https://www.nasdaq.com/articles/why-i-bought-shares-in-this-international-stock-2020-09-29 | nan | nan | Sometimes a startling piece of news can act as a catalyst to buying a stock. In this case, it was the news that German industrial giant Siemens (OTC: SIEGY) was issuing corporate bonds with a negative yield. In other words, bond investors were happy to pay in order to lend the company money while the stock was trading with 4%-plus dividend yield. That startling fact piqued my interest, and I bought some stock in the U.S. listing and continue to hold. Here's why.
Four key arguments for buying the stock
The key arguments behind buying the stock also largely apply today too. Okay, the dividend yield is now 3.3% because the stock has appreciated. In addition, the near-term earnings prospects have been diminished by the COVID-19 pandemic. However, the overarching case for buying the stock remains in place:
The fact that Siemens issued debt with negative yields is not only beneficial to Siemens financially, it's also an indication of the quality of the company's earnings and the bond market's confidence in it.
Siemens has an excellent history of free cash flow (FCF) generation and its dividend is very well covered.
Management has been restructuring the company for growth, and it has good growth prospects from automation, industrial software, building control products, healthcare, and renewable energy.
A financially stable company
By buying Siemens debt with a negative yield, bond investors aren't necessarily being stupid. Pension funds and insurance companies need to balance long-term liabilities and need to invest in low-risk bonds in order to offset the risk in their other bond holdings. Moreover, by buying Siemens debt they are also hoping that the price of the bond will go up further.
Siemens has good growth prospects thanks to its leadership position in industrial automation. Image source: Getty Images.
It's also a vote of confidence in Siemens' ability to pay back debt. Indeed, credit rating agencies Moody's and Standard & Poor's have A1 and A+ ratings on the bonds. These ratings indicate, in the words of Moody's, "upper-medium grade" debt that is "subject to low credit risk."
Part of the reason for such a positive rating comes from Siemens' excellent history of FCF generation. As you can see below, the industrial company's FCF easily covers its dividend. Moreover, analysts are expecting 4.3 billion euros and 5.4 billion euros in FCF in 2020 and 2021, putting the company on 21 times FCF in 2020 and 16.7 times FCF in 2021 -- contrast this with the FCF difficulties at its fierce rival General Electric (NYSE: GE)
Data by YCharts
Siemens has good growth prospects
Not only does the company have a very solid financial history, its future looks bright too. Management has been busy restructuring the company in recent years, and the table below will help investors understand just how the company is structured for growth now.
Siemens Healthineers is an independent publicly listed company which will be 72% owned by Siemens after the intended acquisition of Varian Medical Systems. Meanwhile, Siemens is set to combine a 67% share in Siemens Gamesa with its gas and power business and then spin it off into a new company, Siemens Energy, at the end of September. Siemens will retain a 35.1% share in Siemens Energy, but management intends to reduce this share within 12 months to 18 months of the spin-off.
SEGMENT
2019 INCOME
2019 SALES
ACTIVITY
COMPETITOR
Digital industries
2.9 billion euros
16.1 billion euros
Factory and process automation, industrial software, motion control.
Dassault Systemes, Rockwell Automation, Schneider, Emerson Electric, ABB.
Smart infrastructure
1.5 billion euros
15.2 billion euros
Building control products, low voltage switches, distribution systems.
Schneider, ABB, Johnson Controls, Honeywell.
Gas and power
0.7 billion euros
17.7 billion euros
Gas and power equipment and services
GE, Mitsubishi.
Mobility
1 billion euros
8.9 billion euros
Rail rolling stock, rail infrastructure, traffic systems.
Alstom, Bombardier.
Siemens Healthineers
2.5 billion euros
14.5 billion euros
Imaging, diagnostics, advanced therapies.
GE, Philips, Roche, Abbott.
Siemens Gamesa Renewable Energy
0.5 billion euros
10.2 billion euros
Wind power and storage solutions.
GE, Vestas.
Total industrial
9 billion euros
82.6 billion euros
N/A
N/A
Data source: Siemens presentations.
Siemens Healthineers and Mobility can be thought of as a relatively stable business generating good cash flows. Meanwhile, the spin-off of the new energy business will create a unified energy company that can service electricity production from either gas or renewable energy. Indeed, Siemens Energy is in a lot better shape than GE's power and renewables businesses right now. In fact, the margins achieved by Siemens in power and renewables are a good target for GE to try to reach.Â
Siemens Mobility offers a range of transit solutions. Image source: Getty Images.
The restructuring all points to a company pivoting toward its digital industries (largely automation) and smart infrastructure strengths. In a sense, it's a bet on the increased usage of automation and digitization in the factory, and the development of electrified systems in buildings and infrastructure. Both are industries that management sees as having the potential to grow at a low-single-digit revenue rate.
A good stock to hold
All told, Siemens remains an attractive stock and I continue to hold. It's not the fastest-growing stock out there, but it trades on a compelling FCF valuation (16.7 times estimated 2021 FCF) and pays a very useful dividend. And if the bond market wants to pay Siemens in order to lend it money so Siemens can invest and grow earnings for shareholders, then that's fine with me!
10 stocks we like better than Siemens AG (ADR)
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Lee Samaha owns shares of Honeywell International and Siemens AG (ADR). The Motley Fool recommends Dassault Systemes. 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 this case, it was the news that German industrial giant Siemens (OTC: SIEGY) was issuing corporate bonds with a negative yield. In other words, bond investors were happy to pay in order to lend the company money while the stock was trading with 4%-plus dividend yield. A financially stable company By buying Siemens debt with a negative yield, bond investors aren't necessarily being stupid. | Management has been restructuring the company for growth, and it has good growth prospects from automation, industrial software, building control products, healthcare, and renewable energy. A financially stable company By buying Siemens debt with a negative yield, bond investors aren't necessarily being stupid. Digital industries 2.9 billion euros 16.1 billion euros Factory and process automation, industrial software, motion control. | However, the overarching case for buying the stock remains in place: The fact that Siemens issued debt with negative yields is not only beneficial to Siemens financially, it's also an indication of the quality of the company's earnings and the bond market's confidence in it. Moreover, analysts are expecting 4.3 billion euros and 5.4 billion euros in FCF in 2020 and 2021, putting the company on 21 times FCF in 2020 and 16.7 times FCF in 2021 -- contrast this with the FCF difficulties at its fierce rival General Electric (NYSE: GE) Data by YCharts Siemens has good growth prospects Not only does the company have a very solid financial history, its future looks bright too. Meanwhile, Siemens is set to combine a 67% share in Siemens Gamesa with its gas and power business and then spin it off into a new company, Siemens Energy, at the end of September. | In other words, bond investors were happy to pay in order to lend the company money while the stock was trading with 4%-plus dividend yield. That's right -- they think these 10 stocks are even better buys. See the 10 stocks | 246eb790-a7af-4bcd-9dec-7607a1af6911 |
32423.0 | 2020-09-29 00:00:00 UTC | Here's When Bill Gates Thinks the Coronavirus Pandemic Will End | ABT | https://www.nasdaq.com/articles/heres-when-bill-gates-thinks-the-coronavirus-pandemic-will-end-2020-09-29 | nan | nan | When will the coronavirus pandemic be over? That's the question that nearly everyone in the world would like answered. It's been over half a year since the World Health Organization officially declared COVID-19 to be a pandemic. Those months have been surreal for many people. And they're ready for life to return to normal.
Billionaire philanthropist and Microsoft co-founder Bill Gates thinks that he might have a pretty good idea of when the pandemic will end. And he suspects he might know when things will begin returning to normal in the U.S.
Image source: Getty Images.
Bill Gates' prediction
In an interview with Fox News Sunday, Gates told host Chris Wallace that he's "optimistic this [the pandemic] won't last indefinitely." So when does he predict it will be over? Gates said that "the end of the pandemic, best case, is probably 2022."
That timing might not sound very appealing to weary Americans; 2022 still seems like a long way off. And Gates' reference to that being a "best case" probably won't give many people a warm-and-fuzzy feeling, either.
The billionaire did have a more positive prediction, though. He said that he thinks that some coronavirus vaccines will win approvals by early 2021. Assuming this happens, Gates anticipates that "by next summer the U.S. will be starting to go back to normal. And by the end of the year, our activities can be fairly normal."
However, there was an important caveat in Gates' timeline. He said that the key to ending the pandemic is for the U.S. to help developing countries obtain COVID-19 vaccines. Unless coronavirus outbreaks are contained throughout the world, Gates is concerned that the pandemic could return to the U.S.
Will he be proven right?
There are good reasons to believe that Gates' projected timeline for coronavirus vaccine approvals is on target. Three COVID-19 vaccine candidates are in active late-stage testing; AstraZeneca is still awaiting approval from the Food and Drug Administration to resume its late-stage U.S. study, after pausing the trial due to a severe adverse reaction from a participant in a U.K. clinical trial.
Two of the drugmakers with late-stage COVID-19 vaccine candidates -- Pfizer and Moderna -- expect to report preliminary results in the fourth quarter of 2020. That could pave the way for either or both companies to obtain an FDA emergency use authorization (EUA) by early next year, and potentially by the end of this year.
It will take several months after the first coronavirus vaccines receive EUAs before most Americans will have an opportunity to be vaccinated. However, Gates' take that life in the U.S. could begin to return to normal in the summer of 2021 seems to be realistic.
But will the pandemic really continue into 2022? Probably so, at least in other parts of the world. Like it or not, many of the initial supplies of COVID-19 vaccines will go to wealthier countries that have already locked in supply agreements with the leaders in the coronavirus vaccine race.
Stocks to buy in the meantime
With another year or more of disruptions to normal life expected for Americans, which stocks should investors buy in the meantime? There are two categories that look like smart picks.
First, consider buying shares of companies that are key to fighting the coronavirus. Abbott Laboratories (NYSE: ABT) stands out as a great example. The company is a leader in COVID-19 testing, with six tests winning FDA EUAs. Abbott's BinaxNOW COVID-19 Ag Card test, especially, could be a game-changer: It's fast, cheap, and simple.
These COVID-19 tests aren't the only reason to like Abbott, though. The company has several other major growth drivers, notably including its Freestyle Libre 2 continuous glucose monitoring system. Abbott is also a Dividend Aristocrat, with 48 consecutive years of dividend increases.
Second, check out the stocks of companies that will benefit from the effects of a prolonged pandemic. Amazon (NASDAQ: AMZN) ranks as an obvious choice on this front. Consumers are shopping more online than ever before as a result of the COVID-19 outbreak; Amazon, the global leader in e-commerce, has seen its business boom.
Amazon's cloud business also continues to enjoy solid momentum. The company is expanding its grocery focus. It's looking to reduce shipping costs for its e-commerce business by using drones to deliver packages.
Both Abbott and Amazon are poised to perform well for as long as the pandemic lasts. And both are in good shape to reward investors in the years after the pandemic is over, too.
10 stocks we like better than Amazon
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Foolâs board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Foolâs board of directors. Keith Speights owns shares of Amazon, Microsoft, and Pfizer. The Motley Fool owns shares of and recommends Amazon and Microsoft and recommends the following options: long January 2021 $85 calls on Microsoft, short January 2021 $115 calls on Microsoft, short January 2022 $1940 calls on Amazon, and long January 2022 $1920 calls on Amazon. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories (NYSE: ABT) stands out as a great example. Billionaire philanthropist and Microsoft co-founder Bill Gates thinks that he might have a pretty good idea of when the pandemic will end. Two of the drugmakers with late-stage COVID-19 vaccine candidates -- Pfizer and Moderna -- expect to report preliminary results in the fourth quarter of 2020. | Abbott Laboratories (NYSE: ABT) stands out as a great example. Stocks to buy in the meantime With another year or more of disruptions to normal life expected for Americans, which stocks should investors buy in the meantime? John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Foolâs board of directors. | Abbott Laboratories (NYSE: ABT) stands out as a great example. Bill Gates' prediction In an interview with Fox News Sunday, Gates told host Chris Wallace that he's "optimistic this [the pandemic] won't last indefinitely." Stocks to buy in the meantime With another year or more of disruptions to normal life expected for Americans, which stocks should investors buy in the meantime? | Abbott Laboratories (NYSE: ABT) stands out as a great example. When will the coronavirus pandemic be over? Unless coronavirus outbreaks are contained throughout the world, Gates is concerned that the pandemic could return to the U.S. Will he be proven right? | 8ab2ea3a-e6a2-4dd0-9c48-4d975d02ca5d |
32424.0 | 2020-09-29 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Caravana, Vroom, Peabody Energy, Canadian Solar | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-caravana-vroom-peabody-energy-canadian-solar-2020-09-29 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
U.S. stocks fell in choppy trading on Tuesday, with financials and energy stocks leading declines after substantial gains a day earlier as attention turned to the first presidential debate. .N
At 13:23 ET, the Dow Jones Industrial Average .DJI was down 0.67% at 27,400.45. The S&P 500 .SPX was down 0.63% at 3,330.35 and the Nasdaq Composite .IXIC was down 0.35% at 11,078.953. The top three S&P 500 .PG.INX percentage gainers: ** Paycom Software Inc PAYC.N, up 3.2% ** Advanced Micro Devices Inc AMD.O, up 3.1% ** Albemarle Corp ALB.N, up 2.7% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp APA.O, down 7.3% ** National Oilwell Varco Inc NOV.N, down 6.8% ** Tapestry Inc TPR.N, down 6% The top three NYSE .PG.N percentage gainers: ** Houston American Energy Corp HUSA.N, up 253.7% ** Mexco Energy Corp MXC.N, up 37.8% ** Medley LLC MDLQ.N, up 12.1% The top three NYSE .PL.N percentage losers: ** Just Energy Group Inc JE.N, down 39.2% ** Myovant Sciences Ltd MYOV.N, down 23.4% ** Peabody Energy Corp BTU.N, down 17.5% The top three Nasdaq .PG.O percentage gainers: ** Aptorum Group Ltd APM.O, up 594.3% ** U.S. Energy Corp USEG.O, up 168.5% ** Innodata Inc INOD.O, up 33.5% The top three Nasdaq .PL.O percentage losers: ** Oxbridge Re Holdings Ltd OXBR.O, down 25.6% ** Piedmont Lithium Ltd PLL.O, down 24.6% ** SPI Energy Co Ltd SPI.O, down 22% ** Carvana Co CVNA.N: up 4.1%
BUZZ-Rises as Piper sees long-term share gains
** Vroom Inc VRM.O: up 1.8%
BUZZ-Rises as Piper sees long-term share gains
** Peabody Energy Corp BTU.N: down 17.8%
BUZZ-Falls after U.S. District Court backs lawsuit to block JV
** Canadian Solar Inc CSIQ.O: down 0.4%
BUZZ-Down as Maxeon Solar files patent infringement lawsuit
** Piedmont Lithium Ltd PLL.O: down 24.6%
BUZZ-U.S. shares drop to narrow premium over surging Aussie stock
** Digimarc Corp DMRC.O: up 28.4%
BUZZ-Jumps on $53.5 mln investment by TCM Strategic Partners
** Danaher Corp DHR.N: up 0.4%
BUZZ-Evercore ISI says COVID-19 combination test will be positive for revenue
** Beam Therapeutics Inc BEAM.O: down 7.1%
BUZZ-Falls on planned equity raise
** LifeSci Acquisition Corp LSAC.O: up 14.3%
BUZZ-Jumps on cancer drug developer Vincera SPAC deal
** Shutterstock Inc SSTK.N: up 3.3%
BUZZ-Rises as BofA starts coverage with 'buy'
** Scorpio Bulkers Inc SALT.N: up 3.1%
BUZZ-Up on sale of a Kamsarmax vessel
** Intellia Therapeutics Inc NTLA.O: up 0.1%
BUZZ-Up after gene therapy shows promise in mice study
** Orphazyme A/S ORPH.O: down 7.9%
BUZZ-Shares of drugmaker fall in Nasdaq debut
** Adial Pharmaceuticals Inc ADIL.O: up 34.0%
BUZZ-Surges as FDA grants emergency use for COVID-19 antibody test
** Arcutis Biotherapeutics Inc ARQT.O: up 16.2%
BUZZ-Rises on positive data from skin disease treatment study
** Radware Ltd RDWR.O: up 0.5%
BUZZ-Gains on cloud security service deal with India's Airtel
** China Ceramics Co Ltd CCCL.O: down 7.2%
BUZZ-Drops as H1 revenue plummets on pandemic hit
** ONEOK Inc OKE.N: up 1.7%
BUZZ-Gains as UBS sees improving volume, upgrades to 'buy'
** NanoVibronix Inc NAOV.O: up 2.6%
BUZZ-Rises on filing U.S. patent for pain management device
** Beyond Meat Inc BYND.O: up 9.4%
BUZZ-Jumps as burger patty distribution at Walmart stores triples
** TTM Technologies Inc TTMI.O: up 0.8%
BUZZ-Rises as Craig-Hallum starts coverage with 'buy'
** Infinity Pharmaceuticals Inc INFI.O: up 0.9%
BUZZ-Jumps on fast track tag for breast cancer treatment
** Novus Capital Corp NOVS.O: up 18.6%
BUZZ-Soars on plan to take indoor farm operator AppHarvest public
** BridgeBio Pharma Inc BBIO.O: up 1.5%
BUZZ-FDA accepts application for rare metabolic disorder treatment
** Ardmore Shipping Corp ASC.N: up 5.0%
BUZZ-Rises on share buyback plan
** Artelo Biosciences Inc ARTL.O: up 19.8%
BUZZ-Soars as UK ethics panel approves cancer treatment study
** Molina Healthcare Inc MOH.N: up 3.9%
BUZZ-Affinity Health deal will boost New York presence - SVB Leerink
** Caesars Entertainment Inc CZR.O: down 5.3%
BUZZ-Falls after co prices $1.7 bln equity offering
** TransMedics Group Inc TMDX.O: down 4.1%
BUZZ-Down after FDA postpones review meeting for donor heart system
** Molson Coors Beverage Co TAP.N: up 0.2%
BUZZ-Gains on deal with Coca-Cola to launch alcoholic beverage
** Myovant Sciences Ltd MYOV.N: down 23.4%
BUZZ-Drops as cancer drug misses secondary goal in late-stage trial
** Ironwood Pharmaceuticals Inc IRWD.O: down 2.0%
BUZZ-Scraps development of digestive disorder drug, shares tumble
** Nikola Corp NKLA.O: down 6.1%
BUZZ-EV maker on track to trade lower
** McCormick & Company Inc MKC.N: down 3.1%
BUZZ-Rises on Q2 results beat, 2-for-1 stock split
** Big Lots Inc BIG.N: up 1.3%
BUZZ-Climbs on lifting Q3 outlook
** U.S. Energy Corp USEG.O: up 168.5%
BUZZ-Surges on buying FieldPoint Petroleum's upstream assets
** Sogou Inc SOGO.N: up 2.4%
BUZZ-Set to open at 2-year peak on Tencent's $3.5 bln take-private deal
** Fitbit Inc FIT.N: up 6.3%
BUZZ-Rises as Reuters reports Google set to win EU nod for $2.1 bln deal
** Fuelcell Energy Inc FCEL.O: up 4.1%
BUZZ-Rises on multiple project wins in Connecticut
** Aerie Pharmaceuticals Inc AERI.O: up 1.5%
BUZZ-Up as FDA approves clinical study for dry eye treatment
** Moleculin Biotech Inc MBRX.O: up 2.3%
BUZZ-New molecule in portfolio shows potential to fight COVID-19
** Abbott Laboratories ABT.N: up 0.7%
BUZZ-Rises as its COVID-19 test gets deployed
** Hershey Co HSY.N: up 0.1%
BUZZ-BMO upgrades, says Halloween concerns overblown
** United Natural Foods Inc UNFI.N: down 12.6%
BUZZ-CEO to retire, shares slip
** Tonix Pharmaceuticals Holding Corp TNXP.O: up 5.6%
BUZZ-Rises as co buys new facility to develop COVID-19 vaccines
** Sorrento Therapeutics Inc SRNE.O: up 18.0%
BUZZ-Up as COVID-19 antibody candidates show promise in study
** Fluidigm Corp FLDM.O: up 3.9%
BUZZ-Jumps on increased NIH funding to scale up COVID-19 testing
** Aptorum Group Ltd APM.O: up 594.3%
BUZZ-Surges after launching diagnostics subsidiary
** Party City Holdco Inc PRTY.N: down 7.4%
BUZZ-Loses sheen on plans of 13 mln share offering
** Providence Service Corp PRSC.O: down 1.1%
BUZZ-To acquire Simplura Health to expand into home care
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 0.23%
Consumer Discretionary
.SPLRCD
down 0.52%
Consumer Staples
.SPLRCS
down 0.59%
Energy
.SPNY
down 3.16%
Financial
.SPSY
down 1.03%
Health
.SPXHC
down 0.42%
Industrial
.SPLRCI
down 1.01%
Information Technology
.SPLRCT
down 0.30%
Materials
.SPLRCM
down 0.51%
Real Estate
.SPLRCR
down 1.04%
Utilities
.SPLRCU
down 0.22%
(Compiled by Niket Nishant in Bengaluru)
((Niket.Nishant@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Paycom Software Inc PAYC.N, up 3.2% ** Advanced Micro Devices Inc AMD.O, up 3.1% ** Albemarle Corp ALB.N, up 2.7% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp APA.O, down 7.3% ** National Oilwell Varco Inc NOV.N, down 6.8% ** Tapestry Inc TPR.N, down 6% The top three NYSE .PG.N percentage gainers: ** Houston American Energy Corp HUSA.N, up 253.7% ** Mexco Energy Corp MXC.N, up 37.8% ** Medley LLC MDLQ.N, up 12.1% The top three NYSE .PL.N percentage losers: ** Just Energy Group Inc JE.N, down 39.2% ** Myovant Sciences Ltd MYOV.N, down 23.4% ** Peabody Energy Corp BTU.N, down 17.5% The top three Nasdaq .PG.O percentage gainers: ** Aptorum Group Ltd APM.O, up 594.3% ** U.S. Energy Corp USEG.O, up 168.5% ** Innodata Inc INOD.O, up 33.5% The top three Nasdaq .PL.O percentage losers: ** Oxbridge Re Holdings Ltd OXBR.O, down 25.6% ** Piedmont Lithium Ltd PLL.O, down 24.6% ** SPI Energy Co Ltd SPI.O, down 22% ** Carvana Co CVNA.N: up 4.1% BUZZ-Rises as Piper sees long-term share gains ** Vroom Inc VRM.O: up 1.8% BUZZ-Rises as Piper sees long-term share gains ** Peabody Energy Corp BTU.N: down 17.8% BUZZ-Falls after U.S. District Court backs lawsuit to block JV ** Canadian Solar Inc CSIQ.O: down 0.4% BUZZ-Down as Maxeon Solar files patent infringement lawsuit ** Piedmont Lithium Ltd PLL.O: down 24.6% BUZZ-U.S. shares drop to narrow premium over surging Aussie stock ** Digimarc Corp DMRC.O: up 28.4% BUZZ-Jumps on $53.5 mln investment by TCM Strategic Partners ** Danaher Corp DHR.N: up 0.4% BUZZ-Evercore ISI says COVID-19 combination test will be positive for revenue ** Beam Therapeutics Inc BEAM.O: down 7.1% BUZZ-Falls on planned equity raise ** LifeSci Acquisition Corp LSAC.O: up 14.3% BUZZ-Jumps on cancer drug developer Vincera SPAC deal ** Shutterstock Inc SSTK.N: up 3.3% BUZZ-Rises as BofA starts coverage with 'buy' ** Scorpio Bulkers Inc SALT.N: up 3.1% BUZZ-Up on sale of a Kamsarmax vessel ** Intellia Therapeutics Inc NTLA.O: up 0.1% BUZZ-Up after gene therapy shows promise in mice study ** Orphazyme A/S ORPH.O: down 7.9% BUZZ-Shares of drugmaker fall in Nasdaq debut ** Adial Pharmaceuticals Inc ADIL.O: up 34.0% BUZZ-Surges as FDA grants emergency use for COVID-19 antibody test ** Arcutis Biotherapeutics Inc ARQT.O: up 16.2% BUZZ-Rises on positive data from skin disease treatment study ** Radware Ltd RDWR.O: up 0.5% BUZZ-Gains on cloud security service deal with India's Airtel ** China Ceramics Co Ltd CCCL.O: down 7.2% BUZZ-Drops as H1 revenue plummets on pandemic hit ** ONEOK Inc OKE.N: up 1.7% BUZZ-Gains as UBS sees improving volume, upgrades to 'buy' ** NanoVibronix Inc NAOV.O: up 2.6% BUZZ-Rises on filing U.S. patent for pain management device ** Beyond Meat Inc BYND.O: up 9.4% BUZZ-Jumps as burger patty distribution at Walmart stores triples ** TTM Technologies Inc TTMI.O: up 0.8% BUZZ-Rises as Craig-Hallum starts coverage with 'buy' ** Infinity Pharmaceuticals Inc INFI.O: up 0.9% BUZZ-Jumps on fast track tag for breast cancer treatment ** Novus Capital Corp NOVS.O: up 18.6% BUZZ-Soars on plan to take indoor farm operator AppHarvest public ** BridgeBio Pharma Inc BBIO.O: up 1.5% BUZZ-FDA accepts application for rare metabolic disorder treatment ** Ardmore Shipping Corp ASC.N: up 5.0% BUZZ-Rises on share buyback plan ** Artelo Biosciences Inc ARTL.O: up 19.8% BUZZ-Soars as UK ethics panel approves cancer treatment study ** Molina Healthcare Inc MOH.N: up 3.9% BUZZ-Affinity Health deal will boost New York presence - SVB Leerink ** Caesars Entertainment Inc CZR.O: down 5.3% BUZZ-Falls after co prices $1.7 bln equity offering ** TransMedics Group Inc TMDX.O: down 4.1% BUZZ-Down after FDA postpones review meeting for donor heart system ** Molson Coors Beverage Co TAP.N: up 0.2% BUZZ-Gains on deal with Coca-Cola to launch alcoholic beverage ** Myovant Sciences Ltd MYOV.N: down 23.4% BUZZ-Drops as cancer drug misses secondary goal in late-stage trial ** Ironwood Pharmaceuticals Inc IRWD.O: down 2.0% BUZZ-Scraps development of digestive disorder drug, shares tumble ** Nikola Corp NKLA.O: down 6.1% BUZZ-EV maker on track to trade lower ** McCormick & Company Inc MKC.N: down 3.1% BUZZ-Rises on Q2 results beat, 2-for-1 stock split ** Big Lots Inc BIG.N: up 1.3% BUZZ-Climbs on lifting Q3 outlook ** U.S. Energy Corp USEG.O: up 168.5% BUZZ-Surges on buying FieldPoint Petroleum's upstream assets ** Sogou Inc SOGO.N: up 2.4% BUZZ-Set to open at 2-year peak on Tencent's $3.5 bln take-private deal ** Fitbit Inc FIT.N: up 6.3% BUZZ-Rises as Reuters reports Google set to win EU nod for $2.1 bln deal ** Fuelcell Energy Inc FCEL.O: up 4.1% BUZZ-Rises on multiple project wins in Connecticut ** Aerie Pharmaceuticals Inc AERI.O: up 1.5% BUZZ-Up as FDA approves clinical study for dry eye treatment ** Moleculin Biotech Inc MBRX.O: up 2.3% BUZZ-New molecule in portfolio shows potential to fight COVID-19 ** Abbott Laboratories ABT.N: up 0.7% BUZZ-Rises as its COVID-19 test gets deployed ** Hershey Co HSY.N: up 0.1% BUZZ-BMO upgrades, says Halloween concerns overblown ** United Natural Foods Inc UNFI.N: down 12.6% BUZZ-CEO to retire, shares slip ** Tonix Pharmaceuticals Holding Corp TNXP.O: up 5.6% BUZZ-Rises as co buys new facility to develop COVID-19 vaccines ** Sorrento Therapeutics Inc SRNE.O: up 18.0% BUZZ-Up as COVID-19 antibody candidates show promise in study ** Fluidigm Corp FLDM.O: up 3.9% BUZZ-Jumps on increased NIH funding to scale up COVID-19 testing ** Aptorum Group Ltd APM.O: up 594.3% BUZZ-Surges after launching diagnostics subsidiary ** Party City Holdco Inc PRTY.N: down 7.4% BUZZ-Loses sheen on plans of 13 mln share offering ** Providence Service Corp PRSC.O: down 1.1% BUZZ-To acquire Simplura Health to expand into home care The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks fell in choppy trading on Tuesday, with financials and energy stocks leading declines after substantial gains a day earlier as attention turned to the first presidential debate. down 0.22% (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Paycom Software Inc PAYC.N, up 3.2% ** Advanced Micro Devices Inc AMD.O, up 3.1% ** Albemarle Corp ALB.N, up 2.7% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp APA.O, down 7.3% ** National Oilwell Varco Inc NOV.N, down 6.8% ** Tapestry Inc TPR.N, down 6% The top three NYSE .PG.N percentage gainers: ** Houston American Energy Corp HUSA.N, up 253.7% ** Mexco Energy Corp MXC.N, up 37.8% ** Medley LLC MDLQ.N, up 12.1% The top three NYSE .PL.N percentage losers: ** Just Energy Group Inc JE.N, down 39.2% ** Myovant Sciences Ltd MYOV.N, down 23.4% ** Peabody Energy Corp BTU.N, down 17.5% The top three Nasdaq .PG.O percentage gainers: ** Aptorum Group Ltd APM.O, up 594.3% ** U.S. Energy Corp USEG.O, up 168.5% ** Innodata Inc INOD.O, up 33.5% The top three Nasdaq .PL.O percentage losers: ** Oxbridge Re Holdings Ltd OXBR.O, down 25.6% ** Piedmont Lithium Ltd PLL.O, down 24.6% ** SPI Energy Co Ltd SPI.O, down 22% ** Carvana Co CVNA.N: up 4.1% BUZZ-Rises as Piper sees long-term share gains ** Vroom Inc VRM.O: up 1.8% BUZZ-Rises as Piper sees long-term share gains ** Peabody Energy Corp BTU.N: down 17.8% BUZZ-Falls after U.S. District Court backs lawsuit to block JV ** Canadian Solar Inc CSIQ.O: down 0.4% BUZZ-Down as Maxeon Solar files patent infringement lawsuit ** Piedmont Lithium Ltd PLL.O: down 24.6% BUZZ-U.S. shares drop to narrow premium over surging Aussie stock ** Digimarc Corp DMRC.O: up 28.4% BUZZ-Jumps on $53.5 mln investment by TCM Strategic Partners ** Danaher Corp DHR.N: up 0.4% BUZZ-Evercore ISI says COVID-19 combination test will be positive for revenue ** Beam Therapeutics Inc BEAM.O: down 7.1% BUZZ-Falls on planned equity raise ** LifeSci Acquisition Corp LSAC.O: up 14.3% BUZZ-Jumps on cancer drug developer Vincera SPAC deal ** Shutterstock Inc SSTK.N: up 3.3% BUZZ-Rises as BofA starts coverage with 'buy' ** Scorpio Bulkers Inc SALT.N: up 3.1% BUZZ-Up on sale of a Kamsarmax vessel ** Intellia Therapeutics Inc NTLA.O: up 0.1% BUZZ-Up after gene therapy shows promise in mice study ** Orphazyme A/S ORPH.O: down 7.9% BUZZ-Shares of drugmaker fall in Nasdaq debut ** Adial Pharmaceuticals Inc ADIL.O: up 34.0% BUZZ-Surges as FDA grants emergency use for COVID-19 antibody test ** Arcutis Biotherapeutics Inc ARQT.O: up 16.2% BUZZ-Rises on positive data from skin disease treatment study ** Radware Ltd RDWR.O: up 0.5% BUZZ-Gains on cloud security service deal with India's Airtel ** China Ceramics Co Ltd CCCL.O: down 7.2% BUZZ-Drops as H1 revenue plummets on pandemic hit ** ONEOK Inc OKE.N: up 1.7% BUZZ-Gains as UBS sees improving volume, upgrades to 'buy' ** NanoVibronix Inc NAOV.O: up 2.6% BUZZ-Rises on filing U.S. patent for pain management device ** Beyond Meat Inc BYND.O: up 9.4% BUZZ-Jumps as burger patty distribution at Walmart stores triples ** TTM Technologies Inc TTMI.O: up 0.8% BUZZ-Rises as Craig-Hallum starts coverage with 'buy' ** Infinity Pharmaceuticals Inc INFI.O: up 0.9% BUZZ-Jumps on fast track tag for breast cancer treatment ** Novus Capital Corp NOVS.O: up 18.6% BUZZ-Soars on plan to take indoor farm operator AppHarvest public ** BridgeBio Pharma Inc BBIO.O: up 1.5% BUZZ-FDA accepts application for rare metabolic disorder treatment ** Ardmore Shipping Corp ASC.N: up 5.0% BUZZ-Rises on share buyback plan ** Artelo Biosciences Inc ARTL.O: up 19.8% BUZZ-Soars as UK ethics panel approves cancer treatment study ** Molina Healthcare Inc MOH.N: up 3.9% BUZZ-Affinity Health deal will boost New York presence - SVB Leerink ** Caesars Entertainment Inc CZR.O: down 5.3% BUZZ-Falls after co prices $1.7 bln equity offering ** TransMedics Group Inc TMDX.O: down 4.1% BUZZ-Down after FDA postpones review meeting for donor heart system ** Molson Coors Beverage Co TAP.N: up 0.2% BUZZ-Gains on deal with Coca-Cola to launch alcoholic beverage ** Myovant Sciences Ltd MYOV.N: down 23.4% BUZZ-Drops as cancer drug misses secondary goal in late-stage trial ** Ironwood Pharmaceuticals Inc IRWD.O: down 2.0% BUZZ-Scraps development of digestive disorder drug, shares tumble ** Nikola Corp NKLA.O: down 6.1% BUZZ-EV maker on track to trade lower ** McCormick & Company Inc MKC.N: down 3.1% BUZZ-Rises on Q2 results beat, 2-for-1 stock split ** Big Lots Inc BIG.N: up 1.3% BUZZ-Climbs on lifting Q3 outlook ** U.S. Energy Corp USEG.O: up 168.5% BUZZ-Surges on buying FieldPoint Petroleum's upstream assets ** Sogou Inc SOGO.N: up 2.4% BUZZ-Set to open at 2-year peak on Tencent's $3.5 bln take-private deal ** Fitbit Inc FIT.N: up 6.3% BUZZ-Rises as Reuters reports Google set to win EU nod for $2.1 bln deal ** Fuelcell Energy Inc FCEL.O: up 4.1% BUZZ-Rises on multiple project wins in Connecticut ** Aerie Pharmaceuticals Inc AERI.O: up 1.5% BUZZ-Up as FDA approves clinical study for dry eye treatment ** Moleculin Biotech Inc MBRX.O: up 2.3% BUZZ-New molecule in portfolio shows potential to fight COVID-19 ** Abbott Laboratories ABT.N: up 0.7% BUZZ-Rises as its COVID-19 test gets deployed ** Hershey Co HSY.N: up 0.1% BUZZ-BMO upgrades, says Halloween concerns overblown ** United Natural Foods Inc UNFI.N: down 12.6% BUZZ-CEO to retire, shares slip ** Tonix Pharmaceuticals Holding Corp TNXP.O: up 5.6% BUZZ-Rises as co buys new facility to develop COVID-19 vaccines ** Sorrento Therapeutics Inc SRNE.O: up 18.0% BUZZ-Up as COVID-19 antibody candidates show promise in study ** Fluidigm Corp FLDM.O: up 3.9% BUZZ-Jumps on increased NIH funding to scale up COVID-19 testing ** Aptorum Group Ltd APM.O: up 594.3% BUZZ-Surges after launching diagnostics subsidiary ** Party City Holdco Inc PRTY.N: down 7.4% BUZZ-Loses sheen on plans of 13 mln share offering ** Providence Service Corp PRSC.O: down 1.1% BUZZ-To acquire Simplura Health to expand into home care The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks fell in choppy trading on Tuesday, with financials and energy stocks leading declines after substantial gains a day earlier as attention turned to the first presidential debate. down 0.22% (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Paycom Software Inc PAYC.N, up 3.2% ** Advanced Micro Devices Inc AMD.O, up 3.1% ** Albemarle Corp ALB.N, up 2.7% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp APA.O, down 7.3% ** National Oilwell Varco Inc NOV.N, down 6.8% ** Tapestry Inc TPR.N, down 6% The top three NYSE .PG.N percentage gainers: ** Houston American Energy Corp HUSA.N, up 253.7% ** Mexco Energy Corp MXC.N, up 37.8% ** Medley LLC MDLQ.N, up 12.1% The top three NYSE .PL.N percentage losers: ** Just Energy Group Inc JE.N, down 39.2% ** Myovant Sciences Ltd MYOV.N, down 23.4% ** Peabody Energy Corp BTU.N, down 17.5% The top three Nasdaq .PG.O percentage gainers: ** Aptorum Group Ltd APM.O, up 594.3% ** U.S. Energy Corp USEG.O, up 168.5% ** Innodata Inc INOD.O, up 33.5% The top three Nasdaq .PL.O percentage losers: ** Oxbridge Re Holdings Ltd OXBR.O, down 25.6% ** Piedmont Lithium Ltd PLL.O, down 24.6% ** SPI Energy Co Ltd SPI.O, down 22% ** Carvana Co CVNA.N: up 4.1% BUZZ-Rises as Piper sees long-term share gains ** Vroom Inc VRM.O: up 1.8% BUZZ-Rises as Piper sees long-term share gains ** Peabody Energy Corp BTU.N: down 17.8% BUZZ-Falls after U.S. District Court backs lawsuit to block JV ** Canadian Solar Inc CSIQ.O: down 0.4% BUZZ-Down as Maxeon Solar files patent infringement lawsuit ** Piedmont Lithium Ltd PLL.O: down 24.6% BUZZ-U.S. shares drop to narrow premium over surging Aussie stock ** Digimarc Corp DMRC.O: up 28.4% BUZZ-Jumps on $53.5 mln investment by TCM Strategic Partners ** Danaher Corp DHR.N: up 0.4% BUZZ-Evercore ISI says COVID-19 combination test will be positive for revenue ** Beam Therapeutics Inc BEAM.O: down 7.1% BUZZ-Falls on planned equity raise ** LifeSci Acquisition Corp LSAC.O: up 14.3% BUZZ-Jumps on cancer drug developer Vincera SPAC deal ** Shutterstock Inc SSTK.N: up 3.3% BUZZ-Rises as BofA starts coverage with 'buy' ** Scorpio Bulkers Inc SALT.N: up 3.1% BUZZ-Up on sale of a Kamsarmax vessel ** Intellia Therapeutics Inc NTLA.O: up 0.1% BUZZ-Up after gene therapy shows promise in mice study ** Orphazyme A/S ORPH.O: down 7.9% BUZZ-Shares of drugmaker fall in Nasdaq debut ** Adial Pharmaceuticals Inc ADIL.O: up 34.0% BUZZ-Surges as FDA grants emergency use for COVID-19 antibody test ** Arcutis Biotherapeutics Inc ARQT.O: up 16.2% BUZZ-Rises on positive data from skin disease treatment study ** Radware Ltd RDWR.O: up 0.5% BUZZ-Gains on cloud security service deal with India's Airtel ** China Ceramics Co Ltd CCCL.O: down 7.2% BUZZ-Drops as H1 revenue plummets on pandemic hit ** ONEOK Inc OKE.N: up 1.7% BUZZ-Gains as UBS sees improving volume, upgrades to 'buy' ** NanoVibronix Inc NAOV.O: up 2.6% BUZZ-Rises on filing U.S. patent for pain management device ** Beyond Meat Inc BYND.O: up 9.4% BUZZ-Jumps as burger patty distribution at Walmart stores triples ** TTM Technologies Inc TTMI.O: up 0.8% BUZZ-Rises as Craig-Hallum starts coverage with 'buy' ** Infinity Pharmaceuticals Inc INFI.O: up 0.9% BUZZ-Jumps on fast track tag for breast cancer treatment ** Novus Capital Corp NOVS.O: up 18.6% BUZZ-Soars on plan to take indoor farm operator AppHarvest public ** BridgeBio Pharma Inc BBIO.O: up 1.5% BUZZ-FDA accepts application for rare metabolic disorder treatment ** Ardmore Shipping Corp ASC.N: up 5.0% BUZZ-Rises on share buyback plan ** Artelo Biosciences Inc ARTL.O: up 19.8% BUZZ-Soars as UK ethics panel approves cancer treatment study ** Molina Healthcare Inc MOH.N: up 3.9% BUZZ-Affinity Health deal will boost New York presence - SVB Leerink ** Caesars Entertainment Inc CZR.O: down 5.3% BUZZ-Falls after co prices $1.7 bln equity offering ** TransMedics Group Inc TMDX.O: down 4.1% BUZZ-Down after FDA postpones review meeting for donor heart system ** Molson Coors Beverage Co TAP.N: up 0.2% BUZZ-Gains on deal with Coca-Cola to launch alcoholic beverage ** Myovant Sciences Ltd MYOV.N: down 23.4% BUZZ-Drops as cancer drug misses secondary goal in late-stage trial ** Ironwood Pharmaceuticals Inc IRWD.O: down 2.0% BUZZ-Scraps development of digestive disorder drug, shares tumble ** Nikola Corp NKLA.O: down 6.1% BUZZ-EV maker on track to trade lower ** McCormick & Company Inc MKC.N: down 3.1% BUZZ-Rises on Q2 results beat, 2-for-1 stock split ** Big Lots Inc BIG.N: up 1.3% BUZZ-Climbs on lifting Q3 outlook ** U.S. Energy Corp USEG.O: up 168.5% BUZZ-Surges on buying FieldPoint Petroleum's upstream assets ** Sogou Inc SOGO.N: up 2.4% BUZZ-Set to open at 2-year peak on Tencent's $3.5 bln take-private deal ** Fitbit Inc FIT.N: up 6.3% BUZZ-Rises as Reuters reports Google set to win EU nod for $2.1 bln deal ** Fuelcell Energy Inc FCEL.O: up 4.1% BUZZ-Rises on multiple project wins in Connecticut ** Aerie Pharmaceuticals Inc AERI.O: up 1.5% BUZZ-Up as FDA approves clinical study for dry eye treatment ** Moleculin Biotech Inc MBRX.O: up 2.3% BUZZ-New molecule in portfolio shows potential to fight COVID-19 ** Abbott Laboratories ABT.N: up 0.7% BUZZ-Rises as its COVID-19 test gets deployed ** Hershey Co HSY.N: up 0.1% BUZZ-BMO upgrades, says Halloween concerns overblown ** United Natural Foods Inc UNFI.N: down 12.6% BUZZ-CEO to retire, shares slip ** Tonix Pharmaceuticals Holding Corp TNXP.O: up 5.6% BUZZ-Rises as co buys new facility to develop COVID-19 vaccines ** Sorrento Therapeutics Inc SRNE.O: up 18.0% BUZZ-Up as COVID-19 antibody candidates show promise in study ** Fluidigm Corp FLDM.O: up 3.9% BUZZ-Jumps on increased NIH funding to scale up COVID-19 testing ** Aptorum Group Ltd APM.O: up 594.3% BUZZ-Surges after launching diagnostics subsidiary ** Party City Holdco Inc PRTY.N: down 7.4% BUZZ-Loses sheen on plans of 13 mln share offering ** Providence Service Corp PRSC.O: down 1.1% BUZZ-To acquire Simplura Health to expand into home care The 11 major S&P 500 sectors: Communication Services .N At 13:23 ET, the Dow Jones Industrial Average .DJI was down 0.67% at 27,400.45. down 0.23% Consumer Discretionary | The top three S&P 500 .PG.INX percentage gainers: ** Paycom Software Inc PAYC.N, up 3.2% ** Advanced Micro Devices Inc AMD.O, up 3.1% ** Albemarle Corp ALB.N, up 2.7% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp APA.O, down 7.3% ** National Oilwell Varco Inc NOV.N, down 6.8% ** Tapestry Inc TPR.N, down 6% The top three NYSE .PG.N percentage gainers: ** Houston American Energy Corp HUSA.N, up 253.7% ** Mexco Energy Corp MXC.N, up 37.8% ** Medley LLC MDLQ.N, up 12.1% The top three NYSE .PL.N percentage losers: ** Just Energy Group Inc JE.N, down 39.2% ** Myovant Sciences Ltd MYOV.N, down 23.4% ** Peabody Energy Corp BTU.N, down 17.5% The top three Nasdaq .PG.O percentage gainers: ** Aptorum Group Ltd APM.O, up 594.3% ** U.S. Energy Corp USEG.O, up 168.5% ** Innodata Inc INOD.O, up 33.5% The top three Nasdaq .PL.O percentage losers: ** Oxbridge Re Holdings Ltd OXBR.O, down 25.6% ** Piedmont Lithium Ltd PLL.O, down 24.6% ** SPI Energy Co Ltd SPI.O, down 22% ** Carvana Co CVNA.N: up 4.1% BUZZ-Rises as Piper sees long-term share gains ** Vroom Inc VRM.O: up 1.8% BUZZ-Rises as Piper sees long-term share gains ** Peabody Energy Corp BTU.N: down 17.8% BUZZ-Falls after U.S. District Court backs lawsuit to block JV ** Canadian Solar Inc CSIQ.O: down 0.4% BUZZ-Down as Maxeon Solar files patent infringement lawsuit ** Piedmont Lithium Ltd PLL.O: down 24.6% BUZZ-U.S. shares drop to narrow premium over surging Aussie stock ** Digimarc Corp DMRC.O: up 28.4% BUZZ-Jumps on $53.5 mln investment by TCM Strategic Partners ** Danaher Corp DHR.N: up 0.4% BUZZ-Evercore ISI says COVID-19 combination test will be positive for revenue ** Beam Therapeutics Inc BEAM.O: down 7.1% BUZZ-Falls on planned equity raise ** LifeSci Acquisition Corp LSAC.O: up 14.3% BUZZ-Jumps on cancer drug developer Vincera SPAC deal ** Shutterstock Inc SSTK.N: up 3.3% BUZZ-Rises as BofA starts coverage with 'buy' ** Scorpio Bulkers Inc SALT.N: up 3.1% BUZZ-Up on sale of a Kamsarmax vessel ** Intellia Therapeutics Inc NTLA.O: up 0.1% BUZZ-Up after gene therapy shows promise in mice study ** Orphazyme A/S ORPH.O: down 7.9% BUZZ-Shares of drugmaker fall in Nasdaq debut ** Adial Pharmaceuticals Inc ADIL.O: up 34.0% BUZZ-Surges as FDA grants emergency use for COVID-19 antibody test ** Arcutis Biotherapeutics Inc ARQT.O: up 16.2% BUZZ-Rises on positive data from skin disease treatment study ** Radware Ltd RDWR.O: up 0.5% BUZZ-Gains on cloud security service deal with India's Airtel ** China Ceramics Co Ltd CCCL.O: down 7.2% BUZZ-Drops as H1 revenue plummets on pandemic hit ** ONEOK Inc OKE.N: up 1.7% BUZZ-Gains as UBS sees improving volume, upgrades to 'buy' ** NanoVibronix Inc NAOV.O: up 2.6% BUZZ-Rises on filing U.S. patent for pain management device ** Beyond Meat Inc BYND.O: up 9.4% BUZZ-Jumps as burger patty distribution at Walmart stores triples ** TTM Technologies Inc TTMI.O: up 0.8% BUZZ-Rises as Craig-Hallum starts coverage with 'buy' ** Infinity Pharmaceuticals Inc INFI.O: up 0.9% BUZZ-Jumps on fast track tag for breast cancer treatment ** Novus Capital Corp NOVS.O: up 18.6% BUZZ-Soars on plan to take indoor farm operator AppHarvest public ** BridgeBio Pharma Inc BBIO.O: up 1.5% BUZZ-FDA accepts application for rare metabolic disorder treatment ** Ardmore Shipping Corp ASC.N: up 5.0% BUZZ-Rises on share buyback plan ** Artelo Biosciences Inc ARTL.O: up 19.8% BUZZ-Soars as UK ethics panel approves cancer treatment study ** Molina Healthcare Inc MOH.N: up 3.9% BUZZ-Affinity Health deal will boost New York presence - SVB Leerink ** Caesars Entertainment Inc CZR.O: down 5.3% BUZZ-Falls after co prices $1.7 bln equity offering ** TransMedics Group Inc TMDX.O: down 4.1% BUZZ-Down after FDA postpones review meeting for donor heart system ** Molson Coors Beverage Co TAP.N: up 0.2% BUZZ-Gains on deal with Coca-Cola to launch alcoholic beverage ** Myovant Sciences Ltd MYOV.N: down 23.4% BUZZ-Drops as cancer drug misses secondary goal in late-stage trial ** Ironwood Pharmaceuticals Inc IRWD.O: down 2.0% BUZZ-Scraps development of digestive disorder drug, shares tumble ** Nikola Corp NKLA.O: down 6.1% BUZZ-EV maker on track to trade lower ** McCormick & Company Inc MKC.N: down 3.1% BUZZ-Rises on Q2 results beat, 2-for-1 stock split ** Big Lots Inc BIG.N: up 1.3% BUZZ-Climbs on lifting Q3 outlook ** U.S. Energy Corp USEG.O: up 168.5% BUZZ-Surges on buying FieldPoint Petroleum's upstream assets ** Sogou Inc SOGO.N: up 2.4% BUZZ-Set to open at 2-year peak on Tencent's $3.5 bln take-private deal ** Fitbit Inc FIT.N: up 6.3% BUZZ-Rises as Reuters reports Google set to win EU nod for $2.1 bln deal ** Fuelcell Energy Inc FCEL.O: up 4.1% BUZZ-Rises on multiple project wins in Connecticut ** Aerie Pharmaceuticals Inc AERI.O: up 1.5% BUZZ-Up as FDA approves clinical study for dry eye treatment ** Moleculin Biotech Inc MBRX.O: up 2.3% BUZZ-New molecule in portfolio shows potential to fight COVID-19 ** Abbott Laboratories ABT.N: up 0.7% BUZZ-Rises as its COVID-19 test gets deployed ** Hershey Co HSY.N: up 0.1% BUZZ-BMO upgrades, says Halloween concerns overblown ** United Natural Foods Inc UNFI.N: down 12.6% BUZZ-CEO to retire, shares slip ** Tonix Pharmaceuticals Holding Corp TNXP.O: up 5.6% BUZZ-Rises as co buys new facility to develop COVID-19 vaccines ** Sorrento Therapeutics Inc SRNE.O: up 18.0% BUZZ-Up as COVID-19 antibody candidates show promise in study ** Fluidigm Corp FLDM.O: up 3.9% BUZZ-Jumps on increased NIH funding to scale up COVID-19 testing ** Aptorum Group Ltd APM.O: up 594.3% BUZZ-Surges after launching diagnostics subsidiary ** Party City Holdco Inc PRTY.N: down 7.4% BUZZ-Loses sheen on plans of 13 mln share offering ** Providence Service Corp PRSC.O: down 1.1% BUZZ-To acquire Simplura Health to expand into home care The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks fell in choppy trading on Tuesday, with financials and energy stocks leading declines after substantial gains a day earlier as attention turned to the first presidential debate. .N At 13:23 ET, the Dow Jones Industrial Average .DJI was down 0.67% at 27,400.45. | 49483462-71dd-4870-9b07-e9a9d1d86866 |
32425.0 | 2020-09-29 00:00:00 UTC | Canada expects to approve new COVID-19 tests soon, govt official says | ABT | https://www.nasdaq.com/articles/canada-expects-to-approve-new-covid-19-tests-soon-govt-official-says-2020-09-29-0 | nan | nan | Adds Abbott procurement deal
TORONTO, Sept 29 (Reuters) - Health Canada expects to authorize new antigen tests for COVID-19 soon, a senior government official said on Tuesday, in an effort to provide additional testing as a second wave of novel coronavirus infections overwhelms laboratories.
Antigen tests can provide rapid results outside of a lab, but may be less accurate than some lab-based diagnostic tests. They are already widely used in the United States and elsewhere.
"We have a number of them under review at the moment - it is our priority," Supriya Sharma, senior medical advisor for Health Canada, said during a media briefing. "For some of them we are, I think, very close to having a final decision."
Sharma said the tests under review could be used outside of healthcare settings.
While other countries have approved new ways to test for COVID-19 in recent months, like rapid point-of-care tests, much of Canada is stuck with the basics: deep nasal swabs collected by healthcare workers and sent off to labs.
Some experts have argued that widespread testing in schools and workplaces could help bring the pandemic under control.
The regulator is currently reviewing antigen tests from Abbott ABT.N, Quidel QDEL.O and Sona Nanotech SONA.CD, according to public data.
Separately on Tuesday, the federal government said it had signed an agreement up to buy 7.9 million Abbott ABT.N ID NOW rapid point of care tests, pending Health Canada approval of that test.
The ID NOW is not an antigen test, but the instruments used to analyze it can be run outside of a major lab, giving rapid results at a clinic or hospital. It won emergency authorization in the United States in March.
As of Sept. 28, Canada has reported 2,176 new cases, taking the total to 155,301, and ten new deaths taking the total 9,278, government data showed.
(Reporting by Allison Martell in Toronto and David Ljunggren and Steve Scherer in Ottawa Editing by Bernadette Baum and David Gregorio)
((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. | The regulator is currently reviewing antigen tests from Abbott ABT.N, Quidel QDEL.O and Sona Nanotech SONA.CD, according to public data. Separately on Tuesday, the federal government said it had signed an agreement up to buy 7.9 million Abbott ABT.N ID NOW rapid point of care tests, pending Health Canada approval of that test. "We have a number of them under review at the moment - it is our priority," Supriya Sharma, senior medical advisor for Health Canada, said during a media briefing. | Separately on Tuesday, the federal government said it had signed an agreement up to buy 7.9 million Abbott ABT.N ID NOW rapid point of care tests, pending Health Canada approval of that test. The regulator is currently reviewing antigen tests from Abbott ABT.N, Quidel QDEL.O and Sona Nanotech SONA.CD, according to public data. Adds Abbott procurement deal TORONTO, Sept 29 (Reuters) - Health Canada expects to authorize new antigen tests for COVID-19 soon, a senior government official said on Tuesday, in an effort to provide additional testing as a second wave of novel coronavirus infections overwhelms laboratories. | Separately on Tuesday, the federal government said it had signed an agreement up to buy 7.9 million Abbott ABT.N ID NOW rapid point of care tests, pending Health Canada approval of that test. The regulator is currently reviewing antigen tests from Abbott ABT.N, Quidel QDEL.O and Sona Nanotech SONA.CD, according to public data. Adds Abbott procurement deal TORONTO, Sept 29 (Reuters) - Health Canada expects to authorize new antigen tests for COVID-19 soon, a senior government official said on Tuesday, in an effort to provide additional testing as a second wave of novel coronavirus infections overwhelms laboratories. | The regulator is currently reviewing antigen tests from Abbott ABT.N, Quidel QDEL.O and Sona Nanotech SONA.CD, according to public data. Separately on Tuesday, the federal government said it had signed an agreement up to buy 7.9 million Abbott ABT.N ID NOW rapid point of care tests, pending Health Canada approval of that test. Adds Abbott procurement deal TORONTO, Sept 29 (Reuters) - Health Canada expects to authorize new antigen tests for COVID-19 soon, a senior government official said on Tuesday, in an effort to provide additional testing as a second wave of novel coronavirus infections overwhelms laboratories. | 166219f5-37f3-414b-810a-64d33a23c9c7 |
32426.0 | 2020-09-28 00:00:00 UTC | Abbott wins EU approval for smallest version of glucose monitoring device | ABT | https://www.nasdaq.com/articles/abbott-wins-eu-approval-for-smallest-version-of-glucose-monitoring-device-2020-09-28 | nan | nan | Sept 28 (Reuters) - Abbott Laboratories' ABT.N said on Monday it had received clearance to market the smallest version of its fastest-growing low-cost diabetes monitoring product in the European Union.
FreeStyle Libre 3, which received the European CE Mark, is a more discreet sensor and will be priced the same as previous versions of the device, the company said.
The earlier version, Libre 2, is priced at $54, while a handheld reader, used to scan the sensor, is available for a one-time cost of $70.
FreeStyle Libre 3 is a continuous glucose monitoring device that allows diabetics to track their blood sugar levels without multiple daily finger sticks.
Patients using the new version will also be able to receive glucose readings automatically on their smartphones through the FreeStyle Libre 3 mobile app.
The Libre 3 sensor, like other versions, is worn at the back of the upper arm for 14 days.
In April, the company said worldwide sales of Freestyle Libre devices rose 59.3% to $600 million in the first quarter of 2020.
(Reporting by Dania Nadeem in Bengaluru; Editing by Maju Samuel)
((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. | Sept 28 (Reuters) - Abbott Laboratories' ABT.N said on Monday it had received clearance to market the smallest version of its fastest-growing low-cost diabetes monitoring product in the European Union. FreeStyle Libre 3, which received the European CE Mark, is a more discreet sensor and will be priced the same as previous versions of the device, the company said. FreeStyle Libre 3 is a continuous glucose monitoring device that allows diabetics to track their blood sugar levels without multiple daily finger sticks. | Sept 28 (Reuters) - Abbott Laboratories' ABT.N said on Monday it had received clearance to market the smallest version of its fastest-growing low-cost diabetes monitoring product in the European Union. FreeStyle Libre 3, which received the European CE Mark, is a more discreet sensor and will be priced the same as previous versions of the device, the company said. FreeStyle Libre 3 is a continuous glucose monitoring device that allows diabetics to track their blood sugar levels without multiple daily finger sticks. | Sept 28 (Reuters) - Abbott Laboratories' ABT.N said on Monday it had received clearance to market the smallest version of its fastest-growing low-cost diabetes monitoring product in the European Union. FreeStyle Libre 3, which received the European CE Mark, is a more discreet sensor and will be priced the same as previous versions of the device, the company said. FreeStyle Libre 3 is a continuous glucose monitoring device that allows diabetics to track their blood sugar levels without multiple daily finger sticks. | Sept 28 (Reuters) - Abbott Laboratories' ABT.N said on Monday it had received clearance to market the smallest version of its fastest-growing low-cost diabetes monitoring product in the European Union. FreeStyle Libre 3, which received the European CE Mark, is a more discreet sensor and will be priced the same as previous versions of the device, the company said. FreeStyle Libre 3 is a continuous glucose monitoring device that allows diabetics to track their blood sugar levels without multiple daily finger sticks. | 0a39e1b8-ee48-4583-b8b2-8bf50b6e5ad6 |
32427.0 | 2020-09-28 00:00:00 UTC | Under pressure over virus, Trump to announce more tests for states | ABT | https://www.nasdaq.com/articles/under-pressure-over-virus-trump-to-announce-more-tests-for-states-2020-09-28 | nan | nan | WASHINGTON, Sept 28 (Reuters) - Under pressure over his handling of the coronavirus outbreak, U.S. President Donald Trump planned to announce on Monday that the government would distribute millions of rapid tests to states this week with an eye towards using them to reopen schools.
Trump was set to announce the plan at a White House event scheduled for 3:30 p.m. EDT (1930 GMT).
A senior administration official, confirming a report by The Associated Press, said 6.5 million tests will go out this week. The official said about 100 million tests will be distributed to states in the coming weeks.
Trump wants the tests to help efforts to reopen schools that have been closed due to the pandemic.
Trump is trying to show progress in the battle against the new coronavirus as he fights for re-election in his Nov. 3 matchup against Democrat Joe Biden. The first presidential debate will be held on Tuesday night in Cleveland, Ohio.
The U.S. government will send an "overwhelming majority" of the 150 million rapid COVID-19 tests it purchased from Abbott Laboratories ABT.N in August to governors of states and territories to support school reopenings and other critical tasks, an administration official said at a press briefing earlier this month.
Abbott has said it would scale its production capacity to 50 million tests per month by October and that it could currently produce "tens of millions" of the tests, indicating it will take at least a few months for the tests to be fully distributed to states and territories.
(Reporting By Steve Holland and Carl O'Donnell; Editing by Bernadette Baum)
((Steve.a.holland@thomsonreuters.com; www.twitter.com/steveholland1; 202 898 8300; Reuters Messaging: steve.holland.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The U.S. government will send an "overwhelming majority" of the 150 million rapid COVID-19 tests it purchased from Abbott Laboratories ABT.N in August to governors of states and territories to support school reopenings and other critical tasks, an administration official said at a press briefing earlier this month. WASHINGTON, Sept 28 (Reuters) - Under pressure over his handling of the coronavirus outbreak, U.S. President Donald Trump planned to announce on Monday that the government would distribute millions of rapid tests to states this week with an eye towards using them to reopen schools. Trump is trying to show progress in the battle against the new coronavirus as he fights for re-election in his Nov. 3 matchup against Democrat Joe Biden. | The U.S. government will send an "overwhelming majority" of the 150 million rapid COVID-19 tests it purchased from Abbott Laboratories ABT.N in August to governors of states and territories to support school reopenings and other critical tasks, an administration official said at a press briefing earlier this month. WASHINGTON, Sept 28 (Reuters) - Under pressure over his handling of the coronavirus outbreak, U.S. President Donald Trump planned to announce on Monday that the government would distribute millions of rapid tests to states this week with an eye towards using them to reopen schools. A senior administration official, confirming a report by The Associated Press, said 6.5 million tests will go out this week. | The U.S. government will send an "overwhelming majority" of the 150 million rapid COVID-19 tests it purchased from Abbott Laboratories ABT.N in August to governors of states and territories to support school reopenings and other critical tasks, an administration official said at a press briefing earlier this month. WASHINGTON, Sept 28 (Reuters) - Under pressure over his handling of the coronavirus outbreak, U.S. President Donald Trump planned to announce on Monday that the government would distribute millions of rapid tests to states this week with an eye towards using them to reopen schools. Abbott has said it would scale its production capacity to 50 million tests per month by October and that it could currently produce "tens of millions" of the tests, indicating it will take at least a few months for the tests to be fully distributed to states and territories. | The U.S. government will send an "overwhelming majority" of the 150 million rapid COVID-19 tests it purchased from Abbott Laboratories ABT.N in August to governors of states and territories to support school reopenings and other critical tasks, an administration official said at a press briefing earlier this month. WASHINGTON, Sept 28 (Reuters) - Under pressure over his handling of the coronavirus outbreak, U.S. President Donald Trump planned to announce on Monday that the government would distribute millions of rapid tests to states this week with an eye towards using them to reopen schools. The official said about 100 million tests will be distributed to states in the coming weeks. | a6bbfbe9-3280-475f-83b5-6efd9de6ff72 |
32428.0 | 2020-09-28 00:00:00 UTC | Trump, pressured over pandemic, says states to receive 150 mln tests | ABT | https://www.nasdaq.com/articles/trump-pressured-over-pandemic-says-states-to-receive-150-mln-tests-2020-09-28 | nan | nan | New throughout, adds Trump comments
WASHINGTON, Sept 28 (Reuters) - President Donald Trump, under pressure over his handling of the coronavirus outbreak, announced on Monday the federal government would ship 150 million rapid tests to U.S. states for opening schools and ensuring safety at centers for senior citizens.
"This will be more than double the number of tests already performed," he said, announcing the plan in the White House Rose Garden.
Trump said 50 million tests will go to "most vulnerable communities" including nursing homes, assisted living facilities, home health and hospice care. Nearly 1 million will be sent to historically black colleges and universities and tribal nation colleges.
He said 100 million tests would be given to states and territories to "support efforts to reopen their economies and schools immediately and (as) fast as they can."
"The support my administration is providing would allow every state on a very regular basis test every teacher who needs it," he said.
Trump said 6.5 million tests will go out this week and the rest in coming weeks.
Trump is trying to show progress in the battle against the pandemic as he campaigns for re-election on Nov. 3 against Democrat Joe Biden. The first presidential debate will be held on Tuesday night in Cleveland, Ohio.
The rapid tests announced by Trump were purchased from Abbott Laboratories ABT.N in August for sending to governors of states and territories to support school reopenings and other critical tasks.
Abbott has said it would scale production capacity to 50 million tests per month by October and that it could currently produce "tens of millions" of the tests, indicating it will take at least a few months for the tests to be fully distributed to states and territories.
At the Rose Garden event leader of the Trump coronavirus task force, Admiral Brett Giroir, demonstrated how to conduct the Abbott rapid test, swabbing his nasal passages and dipping the swab into a test solution that will provide a result in about 15 minutes.
(Reporting By Steve Holland and Carl O'Donnell; Editing by Bernadette Baum and David Gregorio)
((Steve.a.holland@thomsonreuters.com; www.twitter.com/steveholland1; 202 898 8300; Reuters Messaging: steve.holland.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The rapid tests announced by Trump were purchased from Abbott Laboratories ABT.N in August for sending to governors of states and territories to support school reopenings and other critical tasks. New throughout, adds Trump comments WASHINGTON, Sept 28 (Reuters) - President Donald Trump, under pressure over his handling of the coronavirus outbreak, announced on Monday the federal government would ship 150 million rapid tests to U.S. states for opening schools and ensuring safety at centers for senior citizens. He said 100 million tests would be given to states and territories to "support efforts to reopen their economies and schools immediately and (as) fast as they can." | The rapid tests announced by Trump were purchased from Abbott Laboratories ABT.N in August for sending to governors of states and territories to support school reopenings and other critical tasks. New throughout, adds Trump comments WASHINGTON, Sept 28 (Reuters) - President Donald Trump, under pressure over his handling of the coronavirus outbreak, announced on Monday the federal government would ship 150 million rapid tests to U.S. states for opening schools and ensuring safety at centers for senior citizens. At the Rose Garden event leader of the Trump coronavirus task force, Admiral Brett Giroir, demonstrated how to conduct the Abbott rapid test, swabbing his nasal passages and dipping the swab into a test solution that will provide a result in about 15 minutes. | The rapid tests announced by Trump were purchased from Abbott Laboratories ABT.N in August for sending to governors of states and territories to support school reopenings and other critical tasks. New throughout, adds Trump comments WASHINGTON, Sept 28 (Reuters) - President Donald Trump, under pressure over his handling of the coronavirus outbreak, announced on Monday the federal government would ship 150 million rapid tests to U.S. states for opening schools and ensuring safety at centers for senior citizens. Abbott has said it would scale production capacity to 50 million tests per month by October and that it could currently produce "tens of millions" of the tests, indicating it will take at least a few months for the tests to be fully distributed to states and territories. | The rapid tests announced by Trump were purchased from Abbott Laboratories ABT.N in August for sending to governors of states and territories to support school reopenings and other critical tasks. "This will be more than double the number of tests already performed," he said, announcing the plan in the White House Rose Garden. He said 100 million tests would be given to states and territories to "support efforts to reopen their economies and schools immediately and (as) fast as they can." | 404fd43d-ada8-4138-9b45-6d1819e5b59a |
32429.0 | 2020-09-28 00:00:00 UTC | Poorer countries to get 120 million $5 coronavirus tests, WHO says | ABT | https://www.nasdaq.com/articles/poorer-countries-to-get-120-million-%245-coronavirus-tests-who-says-2020-09-28 | nan | nan | By Emma Farge and Kate Kelland
GENEVA/LONDON, Sept 28 (Reuters) - Some 120 million rapid diagnostic tests for coronavirus will be made available to low- and middle-income countries at a maximum of $5 each, the World Health Organization (WHO) said on Monday.
The wider availability of quick, reliable and inexpensive testing will help 133 countries to track infections and contain the spread, closing the gap with wealthy ones, it said.
WHO Director General Tedros Adhanom Ghebreyesus said the manufacturers Abbott ABT.N and SD Biosensor had agreed with the Bill & Melinda Gates Foundation to "make 120 million of these new, highly portable and easy-to-use rapid COVID-19 diagnostic tests available over a period of six months".
He told a news conference in Geneva the tests were currently priced at a maximum of $5 each but were expected to become cheaper.
"This will enable the expansion of testing, particularly in hard-to-reach areas that do not have laboratory facilities or enough trained health workers to carry out tests," Tedros said.
"This is a vital addition to the testing capacity and especially important in areas of high transmission."
Catharina Boehme, chief executive officer of the Foundation for Innovative New Diagnostics (FIND), a Geneva-based non-profit organisation in the project, said the deal was a "major milestone" as it was urgent to increase testing in poorer countries.
"It is our first line of defence, critical for countries to track, trace and isolate to stop the spread of the virus and to ensure that we are not flying blind," she said.
"We now have two high-quality tests which are the first in a series that are being developed and assessed by WHO for emergency use listing," she said.
The antigen tests - which don't require a laboratory - provide reliable results in just 15 minutes rather than hours or days and will help expand testing, Boehme said, adding: "The tests are as simple to use as pregnancy tests."
The Global Fund to Fight AIDS, Tuberculosis and Malaria - another Geneva-based group - was providing an initial $50 million to the procurement fund and the first orders were expected to be placed this week, she said.
Maria Van Kerkhove, WHO technical lead on COVID-19, said that more tests were undergoing evaluation and would come online.
They would be particularly useful in remote settings and to investigate clusters quickly and bring them under control and in areas with widespread community transmission.
"This will be really, really helpful for communities and countries to be able to know where is the virus and who is infected with the virus," she said.
(Reporting by Emma Farge, Michael Shields, Kate Kelland, Stephanie Nebehay; Editing by Kevin Liffey and Mark Potter)
((kate.kelland@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | WHO Director General Tedros Adhanom Ghebreyesus said the manufacturers Abbott ABT.N and SD Biosensor had agreed with the Bill & Melinda Gates Foundation to "make 120 million of these new, highly portable and easy-to-use rapid COVID-19 diagnostic tests available over a period of six months". By Emma Farge and Kate Kelland GENEVA/LONDON, Sept 28 (Reuters) - Some 120 million rapid diagnostic tests for coronavirus will be made available to low- and middle-income countries at a maximum of $5 each, the World Health Organization (WHO) said on Monday. Catharina Boehme, chief executive officer of the Foundation for Innovative New Diagnostics (FIND), a Geneva-based non-profit organisation in the project, said the deal was a "major milestone" as it was urgent to increase testing in poorer countries. | WHO Director General Tedros Adhanom Ghebreyesus said the manufacturers Abbott ABT.N and SD Biosensor had agreed with the Bill & Melinda Gates Foundation to "make 120 million of these new, highly portable and easy-to-use rapid COVID-19 diagnostic tests available over a period of six months". By Emma Farge and Kate Kelland GENEVA/LONDON, Sept 28 (Reuters) - Some 120 million rapid diagnostic tests for coronavirus will be made available to low- and middle-income countries at a maximum of $5 each, the World Health Organization (WHO) said on Monday. The wider availability of quick, reliable and inexpensive testing will help 133 countries to track infections and contain the spread, closing the gap with wealthy ones, it said. | WHO Director General Tedros Adhanom Ghebreyesus said the manufacturers Abbott ABT.N and SD Biosensor had agreed with the Bill & Melinda Gates Foundation to "make 120 million of these new, highly portable and easy-to-use rapid COVID-19 diagnostic tests available over a period of six months". By Emma Farge and Kate Kelland GENEVA/LONDON, Sept 28 (Reuters) - Some 120 million rapid diagnostic tests for coronavirus will be made available to low- and middle-income countries at a maximum of $5 each, the World Health Organization (WHO) said on Monday. "This will enable the expansion of testing, particularly in hard-to-reach areas that do not have laboratory facilities or enough trained health workers to carry out tests," Tedros said. | WHO Director General Tedros Adhanom Ghebreyesus said the manufacturers Abbott ABT.N and SD Biosensor had agreed with the Bill & Melinda Gates Foundation to "make 120 million of these new, highly portable and easy-to-use rapid COVID-19 diagnostic tests available over a period of six months". By Emma Farge and Kate Kelland GENEVA/LONDON, Sept 28 (Reuters) - Some 120 million rapid diagnostic tests for coronavirus will be made available to low- and middle-income countries at a maximum of $5 each, the World Health Organization (WHO) said on Monday. He told a news conference in Geneva the tests were currently priced at a maximum of $5 each but were expected to become cheaper. | 87423fd9-6643-4cc6-9d76-ac393d0a9eb2 |
32430.0 | 2020-09-28 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Boeing, Bank of America, Eiger BioPharmaceuticals, Pangaea Logistics | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-boeing-bank-of-america-eiger-biopharmaceuticals-pangaea | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
U.S. stocks jumped on Monday, bouncing back from the longest weekly losing streak in a year for the S&P 500 and the Dow, with technology, banks and travel shares leading the advance..N
At 12:21 ET, the Dow Jones Industrial Average .DJI was up 1.72% at 27,642.62. The S&P 500 .SPX was up 1.44% at 3,345.95 and the Nasdaq Composite .IXIC was up 1.07% at 11,030.094. The top three S&P 500 .PG.INX percentage gainers: ** Devon Energy Corp , up 12.4% ** Apache Corp , up 7.5% ** Boeing Co , up 6.7% The top three S&P 500 .PL.INX percentage losers: ** DexCom Inc , down 2.6% ** Westrock Co , down 2.5% ** Regeneron Pharmaceuticals Inc , down 2% The top three NYSE .PG.N percentage gainers: ** Ambow Education Holding Ltd , up 115.5% ** Ashford Hospitality Trust Inc , up 58.7% ** Amer Shared Hospital Services , up 30.4% The top three NYSE .PL.N percentage losers:
** Annovis Bio Inc ANVS.N, down 10% ** Great Ajax Corp AJX.N down 9.33% ** PG&E Corp PCG.N, down 7.5% The top three Nasdaq .PG.O percentage gainers: ** Piedmont Lithium Ltd , up 316.1% ** Oxbridge Re Holdings Ltd , up 245.8% ** Perceptron Inc , up 66.1% The top three Nasdaq .PL.O percentage losers: ** Aquestive Thrapeutics Inc , down 34.5% ** Inovio Pharmaceuticals Inc , down 26% ** Sky Solar Holdings Ltd , down 18.8% ** Boeing Co BA.N: up 6.7%
BUZZ-Rises as Alembic Global upgrades on hopes of 737 MAX return
** Bank of America Corp BAC.N: up 3.2%
BUZZ-Bank stocks lift Wall Street amid global recovery hopes
** Piedmont Lithium Ltd PLL.O: up 316.1%
BUZZ-U.S.-listed shares hit record high on Tesla supply deal
** Masimo Corp MASI.O: up 2.1%
BUZZ-Gains after FDA clears its pulse oximeter
** Eiger BioPharmaceuticals Inc EIGR.O: down 13.0%
BUZZ-Slips after Lambda fails as possible COVID-19 treatment
** Sorrento Therapeutics Inc SRNE.O: up 4.8%
BUZZ-Rises on positive early data from knee pain therapy study
** Plug Power Inc PLUG.O: up 11.9%
BUZZ-Gains as Morgan Stanley raises FY24 revenue estimate, upgrades rating
** Pangaea Logistics Solutions Ltd PANL.O: up 4.7%
BUZZ-Gains after raising stake in Nordic Bulk Holding
** Exxon Mobil Corp XOM.N: up 3.2%
BUZZ-Oil stocks gain tracking crude prices
** Chevron Corp CVX.N: up 3%
BUZZ-Oil stocks gain tracking crude prices
** Tessco Technologies Inc TESS.O: up 4%
BUZZ-Up after founder urges to remove directors
** Natera Inc NTRA.O: up 2.2%
BUZZ-Gains after Morgan Stanley starts coverage with 'overweight'
** Virgin Galactic Holdings Inc SPCE.N: up 19.8%
BUZZ-Soars as two more bulls board
** Abbott Laboratories ABT.N: up 1%
BUZZ-Up on EU approval for smallest version of glucose monitoring device
** Chesapeake Utilities Corp CPK.N: up 12%
BUZZ-Rises as set join S&P SmallCap 600
** OpGen Inc OPGN.O: up 6%
BUZZ-Rises on potential use of tool to detect COVID-19 co-infections
** Perceptron Inc PRCP.O: up 66.1%
BUZZ-Gains on takeover offer from Sweden's Atlas Copco
** United Parcel Service Inc UPS.N: up 2.6%
BUZZ-Eyes record high open after KeyBanc upgrade
** Hologic Inc HOLX.O: up 1.5%
BUZZ-Rises as FDA allows emergency use of asymptomatic COVID-19 test
** AbbVie Inc ABBV.N: up 1.5%
BUZZ-Gains on orphan drug, fast track tag for spinal cord injury treatment
** Staffing 360 Solutions Inc STAF.O: up 13.7%
BUZZ-Gains on sale of recruitment business unit
** Heron Therapeutics Inc HRTX.O: up 5.4%
BUZZ-Rises on European marketing approval for non-opioid painkiller
** Virgin Galactic Holdings Inc SPCE.N: up 19.0%
BUZZ-Soars after BofA says 'buy'
** American Airlines Group Inc AAL.O: up 4.8%
BUZZ-Rises after securing $5.5 bln Treasury loan
** CBL & Associates Properties Inc CBL.N: down 1.7%
BUZZ-Falls after restructuring petition extention
** Tesla Inc TSLA.O: up 2.7%
BUZZ-Set to rise for third straight session
** Pinterest Inc PINS.N: up 2.2%
BUZZ-Up as Guggenheim starts coverage with "buy" rating
** Quotient Ltd QTNT.O: up 3.3%
BUZZ-Rises as FDA approves emergency use of its COVID-19 antibody test
** WPX Energy Inc WPX.N: up 16.4%
BUZZ-Jumps after shale producers agree to merger deal
** Devon Energy Corp DVN.N: up 12.3%
BUZZ-Jumps after shale producers agree to merger deal
** Mallinckrodt PLC MNK.N: down 23.3%
BUZZ-Falls after report says drugmaker weeks away from filing for bankruptcy
** MobileIron Inc MOBL.O: up 5.6%
BUZZ-Rises on $872 mln deal to go private
** Snap Inc SNAP.N: up 3.6%
BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength
** Ford Motor Co F.N: up 2.9%
BUZZ-Taps into German coronavirus relief aid - Handelsblatt
** Xpeng Inc XPEV.N: up 5.3%
BUZZ-Surges on plans to open new car factory in China
** Aquestive Therapeutics Inc AQST.O: down 34.5%
BUZZ-Slumps after FDA declines co's treatment for seizures
** Uber Technologies Inc UBER.N: up 3.4%
BUZZ-Uber jumps as co wins legal bid to restart London operations
** Sina Corp SINA.O: up 6.1%
BUZZ-Rises on $2.6 bln deal to go private
** Expedia Group Inc EXPE.O: down 0.9%
BUZZ-RBC downgrades as survey suggests slow travel recovery
** Weibo Corp WB.O: up 6.7%
BUZZ-Rises on Q2 revenue beat
** Square Inc SQ.N: up 1.3%
BUZZ-Gains after Credit Suisse raises price target
** Cleveland-Cliffs Inc CLF.N: up 10.5%
BUZZ-Rises on purchase of ArcelorMittal's U.S. assets
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.73%
Consumer Discretionary
.SPLRCD
up 1.39%
Consumer Staples
.SPLRCS
up 1.33%
Energy
.SPNY
up 3.08%
Financial
.SPSY
up 2.86%
Health
.SPXHC
up 0.90%
Industrial
.SPLRCI
up 2.37%
Information Technology
.SPLRCT
up 0.97%
Materials
.SPLRCM
up 2.15%
Real Estate
.SPLRCR
up 1.69%
Utilities
.SPLRCU
up 1.01%
(Compiled by Niket Nishant in Bengaluru)
((Niket.Nishant@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Devon Energy Corp , up 12.4% ** Apache Corp , up 7.5% ** Boeing Co , up 6.7% The top three S&P 500 .PL.INX percentage losers: ** DexCom Inc , down 2.6% ** Westrock Co , down 2.5% ** Regeneron Pharmaceuticals Inc , down 2% The top three NYSE .PG.N percentage gainers: ** Ambow Education Holding Ltd , up 115.5% ** Ashford Hospitality Trust Inc , up 58.7% ** Amer Shared Hospital Services , up 30.4% The top three NYSE .PL.N percentage losers: ** Annovis Bio Inc ANVS.N, down 10% ** Great Ajax Corp AJX.N down 9.33% ** PG&E Corp PCG.N, down 7.5% The top three Nasdaq .PG.O percentage gainers: ** Piedmont Lithium Ltd , up 316.1% ** Oxbridge Re Holdings Ltd , up 245.8% ** Perceptron Inc , up 66.1% The top three Nasdaq .PL.O percentage losers: ** Aquestive Thrapeutics Inc , down 34.5% ** Inovio Pharmaceuticals Inc , down 26% ** Sky Solar Holdings Ltd , down 18.8% ** Boeing Co BA.N: up 6.7% BUZZ-Rises as Alembic Global upgrades on hopes of 737 MAX return ** Bank of America Corp BAC.N: up 3.2% BUZZ-Bank stocks lift Wall Street amid global recovery hopes ** Piedmont Lithium Ltd PLL.O: up 316.1% BUZZ-U.S.-listed shares hit record high on Tesla supply deal ** Masimo Corp MASI.O: up 2.1% BUZZ-Gains after FDA clears its pulse oximeter ** Eiger BioPharmaceuticals Inc EIGR.O: down 13.0% BUZZ-Slips after Lambda fails as possible COVID-19 treatment ** Sorrento Therapeutics Inc SRNE.O: up 4.8% BUZZ-Rises on positive early data from knee pain therapy study ** Plug Power Inc PLUG.O: up 11.9% BUZZ-Gains as Morgan Stanley raises FY24 revenue estimate, upgrades rating ** Pangaea Logistics Solutions Ltd PANL.O: up 4.7% BUZZ-Gains after raising stake in Nordic Bulk Holding ** Exxon Mobil Corp XOM.N: up 3.2% BUZZ-Oil stocks gain tracking crude prices ** Chevron Corp CVX.N: up 3% BUZZ-Oil stocks gain tracking crude prices ** Tessco Technologies Inc TESS.O: up 4% BUZZ-Up after founder urges to remove directors ** Natera Inc NTRA.O: up 2.2% BUZZ-Gains after Morgan Stanley starts coverage with 'overweight' ** Virgin Galactic Holdings Inc SPCE.N: up 19.8% BUZZ-Soars as two more bulls board ** Abbott Laboratories ABT.N: up 1% BUZZ-Up on EU approval for smallest version of glucose monitoring device ** Chesapeake Utilities Corp CPK.N: up 12% BUZZ-Rises as set join S&P SmallCap 600 ** OpGen Inc OPGN.O: up 6% BUZZ-Rises on potential use of tool to detect COVID-19 co-infections ** Perceptron Inc PRCP.O: up 66.1% BUZZ-Gains on takeover offer from Sweden's Atlas Copco ** United Parcel Service Inc UPS.N: up 2.6% BUZZ-Eyes record high open after KeyBanc upgrade ** Hologic Inc HOLX.O: up 1.5% BUZZ-Rises as FDA allows emergency use of asymptomatic COVID-19 test ** AbbVie Inc ABBV.N: up 1.5% BUZZ-Gains on orphan drug, fast track tag for spinal cord injury treatment ** Staffing 360 Solutions Inc STAF.O: up 13.7% BUZZ-Gains on sale of recruitment business unit ** Heron Therapeutics Inc HRTX.O: up 5.4% BUZZ-Rises on European marketing approval for non-opioid painkiller ** Virgin Galactic Holdings Inc SPCE.N: up 19.0% BUZZ-Soars after BofA says 'buy' ** American Airlines Group Inc AAL.O: up 4.8% BUZZ-Rises after securing $5.5 bln Treasury loan ** CBL & Associates Properties Inc CBL.N: down 1.7% BUZZ-Falls after restructuring petition extention ** Tesla Inc TSLA.O: up 2.7% BUZZ-Set to rise for third straight session ** Pinterest Inc PINS.N: up 2.2% BUZZ-Up as Guggenheim starts coverage with "buy" rating ** Quotient Ltd QTNT.O: up 3.3% BUZZ-Rises as FDA approves emergency use of its COVID-19 antibody test ** WPX Energy Inc WPX.N: up 16.4% BUZZ-Jumps after shale producers agree to merger deal ** Devon Energy Corp DVN.N: up 12.3% BUZZ-Jumps after shale producers agree to merger deal ** Mallinckrodt PLC MNK.N: down 23.3% BUZZ-Falls after report says drugmaker weeks away from filing for bankruptcy ** MobileIron Inc MOBL.O: up 5.6% BUZZ-Rises on $872 mln deal to go private ** Snap Inc SNAP.N: up 3.6% BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength ** Ford Motor Co F.N: up 2.9% BUZZ-Taps into German coronavirus relief aid - Handelsblatt ** Xpeng Inc XPEV.N: up 5.3% BUZZ-Surges on plans to open new car factory in China ** Aquestive Therapeutics Inc AQST.O: down 34.5% BUZZ-Slumps after FDA declines co's treatment for seizures ** Uber Technologies Inc UBER.N: up 3.4% BUZZ-Uber jumps as co wins legal bid to restart London operations ** Sina Corp SINA.O: up 6.1% BUZZ-Rises on $2.6 bln deal to go private ** Expedia Group Inc EXPE.O: down 0.9% BUZZ-RBC downgrades as survey suggests slow travel recovery ** Weibo Corp WB.O: up 6.7% BUZZ-Rises on Q2 revenue beat ** Square Inc SQ.N: up 1.3% BUZZ-Gains after Credit Suisse raises price target ** Cleveland-Cliffs Inc CLF.N: up 10.5% BUZZ-Rises on purchase of ArcelorMittal's U.S. assets The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks jumped on Monday, bouncing back from the longest weekly losing streak in a year for the S&P 500 and the Dow, with technology, banks and travel shares leading the advance..N At 12:21 ET, the Dow Jones Industrial Average .DJI was up 1.72% at 27,642.62. up 1.01% (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Devon Energy Corp , up 12.4% ** Apache Corp , up 7.5% ** Boeing Co , up 6.7% The top three S&P 500 .PL.INX percentage losers: ** DexCom Inc , down 2.6% ** Westrock Co , down 2.5% ** Regeneron Pharmaceuticals Inc , down 2% The top three NYSE .PG.N percentage gainers: ** Ambow Education Holding Ltd , up 115.5% ** Ashford Hospitality Trust Inc , up 58.7% ** Amer Shared Hospital Services , up 30.4% The top three NYSE .PL.N percentage losers: ** Annovis Bio Inc ANVS.N, down 10% ** Great Ajax Corp AJX.N down 9.33% ** PG&E Corp PCG.N, down 7.5% The top three Nasdaq .PG.O percentage gainers: ** Piedmont Lithium Ltd , up 316.1% ** Oxbridge Re Holdings Ltd , up 245.8% ** Perceptron Inc , up 66.1% The top three Nasdaq .PL.O percentage losers: ** Aquestive Thrapeutics Inc , down 34.5% ** Inovio Pharmaceuticals Inc , down 26% ** Sky Solar Holdings Ltd , down 18.8% ** Boeing Co BA.N: up 6.7% BUZZ-Rises as Alembic Global upgrades on hopes of 737 MAX return ** Bank of America Corp BAC.N: up 3.2% BUZZ-Bank stocks lift Wall Street amid global recovery hopes ** Piedmont Lithium Ltd PLL.O: up 316.1% BUZZ-U.S.-listed shares hit record high on Tesla supply deal ** Masimo Corp MASI.O: up 2.1% BUZZ-Gains after FDA clears its pulse oximeter ** Eiger BioPharmaceuticals Inc EIGR.O: down 13.0% BUZZ-Slips after Lambda fails as possible COVID-19 treatment ** Sorrento Therapeutics Inc SRNE.O: up 4.8% BUZZ-Rises on positive early data from knee pain therapy study ** Plug Power Inc PLUG.O: up 11.9% BUZZ-Gains as Morgan Stanley raises FY24 revenue estimate, upgrades rating ** Pangaea Logistics Solutions Ltd PANL.O: up 4.7% BUZZ-Gains after raising stake in Nordic Bulk Holding ** Exxon Mobil Corp XOM.N: up 3.2% BUZZ-Oil stocks gain tracking crude prices ** Chevron Corp CVX.N: up 3% BUZZ-Oil stocks gain tracking crude prices ** Tessco Technologies Inc TESS.O: up 4% BUZZ-Up after founder urges to remove directors ** Natera Inc NTRA.O: up 2.2% BUZZ-Gains after Morgan Stanley starts coverage with 'overweight' ** Virgin Galactic Holdings Inc SPCE.N: up 19.8% BUZZ-Soars as two more bulls board ** Abbott Laboratories ABT.N: up 1% BUZZ-Up on EU approval for smallest version of glucose monitoring device ** Chesapeake Utilities Corp CPK.N: up 12% BUZZ-Rises as set join S&P SmallCap 600 ** OpGen Inc OPGN.O: up 6% BUZZ-Rises on potential use of tool to detect COVID-19 co-infections ** Perceptron Inc PRCP.O: up 66.1% BUZZ-Gains on takeover offer from Sweden's Atlas Copco ** United Parcel Service Inc UPS.N: up 2.6% BUZZ-Eyes record high open after KeyBanc upgrade ** Hologic Inc HOLX.O: up 1.5% BUZZ-Rises as FDA allows emergency use of asymptomatic COVID-19 test ** AbbVie Inc ABBV.N: up 1.5% BUZZ-Gains on orphan drug, fast track tag for spinal cord injury treatment ** Staffing 360 Solutions Inc STAF.O: up 13.7% BUZZ-Gains on sale of recruitment business unit ** Heron Therapeutics Inc HRTX.O: up 5.4% BUZZ-Rises on European marketing approval for non-opioid painkiller ** Virgin Galactic Holdings Inc SPCE.N: up 19.0% BUZZ-Soars after BofA says 'buy' ** American Airlines Group Inc AAL.O: up 4.8% BUZZ-Rises after securing $5.5 bln Treasury loan ** CBL & Associates Properties Inc CBL.N: down 1.7% BUZZ-Falls after restructuring petition extention ** Tesla Inc TSLA.O: up 2.7% BUZZ-Set to rise for third straight session ** Pinterest Inc PINS.N: up 2.2% BUZZ-Up as Guggenheim starts coverage with "buy" rating ** Quotient Ltd QTNT.O: up 3.3% BUZZ-Rises as FDA approves emergency use of its COVID-19 antibody test ** WPX Energy Inc WPX.N: up 16.4% BUZZ-Jumps after shale producers agree to merger deal ** Devon Energy Corp DVN.N: up 12.3% BUZZ-Jumps after shale producers agree to merger deal ** Mallinckrodt PLC MNK.N: down 23.3% BUZZ-Falls after report says drugmaker weeks away from filing for bankruptcy ** MobileIron Inc MOBL.O: up 5.6% BUZZ-Rises on $872 mln deal to go private ** Snap Inc SNAP.N: up 3.6% BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength ** Ford Motor Co F.N: up 2.9% BUZZ-Taps into German coronavirus relief aid - Handelsblatt ** Xpeng Inc XPEV.N: up 5.3% BUZZ-Surges on plans to open new car factory in China ** Aquestive Therapeutics Inc AQST.O: down 34.5% BUZZ-Slumps after FDA declines co's treatment for seizures ** Uber Technologies Inc UBER.N: up 3.4% BUZZ-Uber jumps as co wins legal bid to restart London operations ** Sina Corp SINA.O: up 6.1% BUZZ-Rises on $2.6 bln deal to go private ** Expedia Group Inc EXPE.O: down 0.9% BUZZ-RBC downgrades as survey suggests slow travel recovery ** Weibo Corp WB.O: up 6.7% BUZZ-Rises on Q2 revenue beat ** Square Inc SQ.N: up 1.3% BUZZ-Gains after Credit Suisse raises price target ** Cleveland-Cliffs Inc CLF.N: up 10.5% BUZZ-Rises on purchase of ArcelorMittal's U.S. assets The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks jumped on Monday, bouncing back from the longest weekly losing streak in a year for the S&P 500 and the Dow, with technology, banks and travel shares leading the advance..N At 12:21 ET, the Dow Jones Industrial Average .DJI was up 1.72% at 27,642.62. up 1.01% (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Devon Energy Corp , up 12.4% ** Apache Corp , up 7.5% ** Boeing Co , up 6.7% The top three S&P 500 .PL.INX percentage losers: ** DexCom Inc , down 2.6% ** Westrock Co , down 2.5% ** Regeneron Pharmaceuticals Inc , down 2% The top three NYSE .PG.N percentage gainers: ** Ambow Education Holding Ltd , up 115.5% ** Ashford Hospitality Trust Inc , up 58.7% ** Amer Shared Hospital Services , up 30.4% The top three NYSE .PL.N percentage losers: ** Annovis Bio Inc ANVS.N, down 10% ** Great Ajax Corp AJX.N down 9.33% ** PG&E Corp PCG.N, down 7.5% The top three Nasdaq .PG.O percentage gainers: ** Piedmont Lithium Ltd , up 316.1% ** Oxbridge Re Holdings Ltd , up 245.8% ** Perceptron Inc , up 66.1% The top three Nasdaq .PL.O percentage losers: ** Aquestive Thrapeutics Inc , down 34.5% ** Inovio Pharmaceuticals Inc , down 26% ** Sky Solar Holdings Ltd , down 18.8% ** Boeing Co BA.N: up 6.7% BUZZ-Rises as Alembic Global upgrades on hopes of 737 MAX return ** Bank of America Corp BAC.N: up 3.2% BUZZ-Bank stocks lift Wall Street amid global recovery hopes ** Piedmont Lithium Ltd PLL.O: up 316.1% BUZZ-U.S.-listed shares hit record high on Tesla supply deal ** Masimo Corp MASI.O: up 2.1% BUZZ-Gains after FDA clears its pulse oximeter ** Eiger BioPharmaceuticals Inc EIGR.O: down 13.0% BUZZ-Slips after Lambda fails as possible COVID-19 treatment ** Sorrento Therapeutics Inc SRNE.O: up 4.8% BUZZ-Rises on positive early data from knee pain therapy study ** Plug Power Inc PLUG.O: up 11.9% BUZZ-Gains as Morgan Stanley raises FY24 revenue estimate, upgrades rating ** Pangaea Logistics Solutions Ltd PANL.O: up 4.7% BUZZ-Gains after raising stake in Nordic Bulk Holding ** Exxon Mobil Corp XOM.N: up 3.2% BUZZ-Oil stocks gain tracking crude prices ** Chevron Corp CVX.N: up 3% BUZZ-Oil stocks gain tracking crude prices ** Tessco Technologies Inc TESS.O: up 4% BUZZ-Up after founder urges to remove directors ** Natera Inc NTRA.O: up 2.2% BUZZ-Gains after Morgan Stanley starts coverage with 'overweight' ** Virgin Galactic Holdings Inc SPCE.N: up 19.8% BUZZ-Soars as two more bulls board ** Abbott Laboratories ABT.N: up 1% BUZZ-Up on EU approval for smallest version of glucose monitoring device ** Chesapeake Utilities Corp CPK.N: up 12% BUZZ-Rises as set join S&P SmallCap 600 ** OpGen Inc OPGN.O: up 6% BUZZ-Rises on potential use of tool to detect COVID-19 co-infections ** Perceptron Inc PRCP.O: up 66.1% BUZZ-Gains on takeover offer from Sweden's Atlas Copco ** United Parcel Service Inc UPS.N: up 2.6% BUZZ-Eyes record high open after KeyBanc upgrade ** Hologic Inc HOLX.O: up 1.5% BUZZ-Rises as FDA allows emergency use of asymptomatic COVID-19 test ** AbbVie Inc ABBV.N: up 1.5% BUZZ-Gains on orphan drug, fast track tag for spinal cord injury treatment ** Staffing 360 Solutions Inc STAF.O: up 13.7% BUZZ-Gains on sale of recruitment business unit ** Heron Therapeutics Inc HRTX.O: up 5.4% BUZZ-Rises on European marketing approval for non-opioid painkiller ** Virgin Galactic Holdings Inc SPCE.N: up 19.0% BUZZ-Soars after BofA says 'buy' ** American Airlines Group Inc AAL.O: up 4.8% BUZZ-Rises after securing $5.5 bln Treasury loan ** CBL & Associates Properties Inc CBL.N: down 1.7% BUZZ-Falls after restructuring petition extention ** Tesla Inc TSLA.O: up 2.7% BUZZ-Set to rise for third straight session ** Pinterest Inc PINS.N: up 2.2% BUZZ-Up as Guggenheim starts coverage with "buy" rating ** Quotient Ltd QTNT.O: up 3.3% BUZZ-Rises as FDA approves emergency use of its COVID-19 antibody test ** WPX Energy Inc WPX.N: up 16.4% BUZZ-Jumps after shale producers agree to merger deal ** Devon Energy Corp DVN.N: up 12.3% BUZZ-Jumps after shale producers agree to merger deal ** Mallinckrodt PLC MNK.N: down 23.3% BUZZ-Falls after report says drugmaker weeks away from filing for bankruptcy ** MobileIron Inc MOBL.O: up 5.6% BUZZ-Rises on $872 mln deal to go private ** Snap Inc SNAP.N: up 3.6% BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength ** Ford Motor Co F.N: up 2.9% BUZZ-Taps into German coronavirus relief aid - Handelsblatt ** Xpeng Inc XPEV.N: up 5.3% BUZZ-Surges on plans to open new car factory in China ** Aquestive Therapeutics Inc AQST.O: down 34.5% BUZZ-Slumps after FDA declines co's treatment for seizures ** Uber Technologies Inc UBER.N: up 3.4% BUZZ-Uber jumps as co wins legal bid to restart London operations ** Sina Corp SINA.O: up 6.1% BUZZ-Rises on $2.6 bln deal to go private ** Expedia Group Inc EXPE.O: down 0.9% BUZZ-RBC downgrades as survey suggests slow travel recovery ** Weibo Corp WB.O: up 6.7% BUZZ-Rises on Q2 revenue beat ** Square Inc SQ.N: up 1.3% BUZZ-Gains after Credit Suisse raises price target ** Cleveland-Cliffs Inc CLF.N: up 10.5% BUZZ-Rises on purchase of ArcelorMittal's U.S. assets The 11 major S&P 500 sectors: Communication Services up 0.73% Consumer Discretionary up 1.39% Consumer Staples | The top three S&P 500 .PG.INX percentage gainers: ** Devon Energy Corp , up 12.4% ** Apache Corp , up 7.5% ** Boeing Co , up 6.7% The top three S&P 500 .PL.INX percentage losers: ** DexCom Inc , down 2.6% ** Westrock Co , down 2.5% ** Regeneron Pharmaceuticals Inc , down 2% The top three NYSE .PG.N percentage gainers: ** Ambow Education Holding Ltd , up 115.5% ** Ashford Hospitality Trust Inc , up 58.7% ** Amer Shared Hospital Services , up 30.4% The top three NYSE .PL.N percentage losers: ** Annovis Bio Inc ANVS.N, down 10% ** Great Ajax Corp AJX.N down 9.33% ** PG&E Corp PCG.N, down 7.5% The top three Nasdaq .PG.O percentage gainers: ** Piedmont Lithium Ltd , up 316.1% ** Oxbridge Re Holdings Ltd , up 245.8% ** Perceptron Inc , up 66.1% The top three Nasdaq .PL.O percentage losers: ** Aquestive Thrapeutics Inc , down 34.5% ** Inovio Pharmaceuticals Inc , down 26% ** Sky Solar Holdings Ltd , down 18.8% ** Boeing Co BA.N: up 6.7% BUZZ-Rises as Alembic Global upgrades on hopes of 737 MAX return ** Bank of America Corp BAC.N: up 3.2% BUZZ-Bank stocks lift Wall Street amid global recovery hopes ** Piedmont Lithium Ltd PLL.O: up 316.1% BUZZ-U.S.-listed shares hit record high on Tesla supply deal ** Masimo Corp MASI.O: up 2.1% BUZZ-Gains after FDA clears its pulse oximeter ** Eiger BioPharmaceuticals Inc EIGR.O: down 13.0% BUZZ-Slips after Lambda fails as possible COVID-19 treatment ** Sorrento Therapeutics Inc SRNE.O: up 4.8% BUZZ-Rises on positive early data from knee pain therapy study ** Plug Power Inc PLUG.O: up 11.9% BUZZ-Gains as Morgan Stanley raises FY24 revenue estimate, upgrades rating ** Pangaea Logistics Solutions Ltd PANL.O: up 4.7% BUZZ-Gains after raising stake in Nordic Bulk Holding ** Exxon Mobil Corp XOM.N: up 3.2% BUZZ-Oil stocks gain tracking crude prices ** Chevron Corp CVX.N: up 3% BUZZ-Oil stocks gain tracking crude prices ** Tessco Technologies Inc TESS.O: up 4% BUZZ-Up after founder urges to remove directors ** Natera Inc NTRA.O: up 2.2% BUZZ-Gains after Morgan Stanley starts coverage with 'overweight' ** Virgin Galactic Holdings Inc SPCE.N: up 19.8% BUZZ-Soars as two more bulls board ** Abbott Laboratories ABT.N: up 1% BUZZ-Up on EU approval for smallest version of glucose monitoring device ** Chesapeake Utilities Corp CPK.N: up 12% BUZZ-Rises as set join S&P SmallCap 600 ** OpGen Inc OPGN.O: up 6% BUZZ-Rises on potential use of tool to detect COVID-19 co-infections ** Perceptron Inc PRCP.O: up 66.1% BUZZ-Gains on takeover offer from Sweden's Atlas Copco ** United Parcel Service Inc UPS.N: up 2.6% BUZZ-Eyes record high open after KeyBanc upgrade ** Hologic Inc HOLX.O: up 1.5% BUZZ-Rises as FDA allows emergency use of asymptomatic COVID-19 test ** AbbVie Inc ABBV.N: up 1.5% BUZZ-Gains on orphan drug, fast track tag for spinal cord injury treatment ** Staffing 360 Solutions Inc STAF.O: up 13.7% BUZZ-Gains on sale of recruitment business unit ** Heron Therapeutics Inc HRTX.O: up 5.4% BUZZ-Rises on European marketing approval for non-opioid painkiller ** Virgin Galactic Holdings Inc SPCE.N: up 19.0% BUZZ-Soars after BofA says 'buy' ** American Airlines Group Inc AAL.O: up 4.8% BUZZ-Rises after securing $5.5 bln Treasury loan ** CBL & Associates Properties Inc CBL.N: down 1.7% BUZZ-Falls after restructuring petition extention ** Tesla Inc TSLA.O: up 2.7% BUZZ-Set to rise for third straight session ** Pinterest Inc PINS.N: up 2.2% BUZZ-Up as Guggenheim starts coverage with "buy" rating ** Quotient Ltd QTNT.O: up 3.3% BUZZ-Rises as FDA approves emergency use of its COVID-19 antibody test ** WPX Energy Inc WPX.N: up 16.4% BUZZ-Jumps after shale producers agree to merger deal ** Devon Energy Corp DVN.N: up 12.3% BUZZ-Jumps after shale producers agree to merger deal ** Mallinckrodt PLC MNK.N: down 23.3% BUZZ-Falls after report says drugmaker weeks away from filing for bankruptcy ** MobileIron Inc MOBL.O: up 5.6% BUZZ-Rises on $872 mln deal to go private ** Snap Inc SNAP.N: up 3.6% BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength ** Ford Motor Co F.N: up 2.9% BUZZ-Taps into German coronavirus relief aid - Handelsblatt ** Xpeng Inc XPEV.N: up 5.3% BUZZ-Surges on plans to open new car factory in China ** Aquestive Therapeutics Inc AQST.O: down 34.5% BUZZ-Slumps after FDA declines co's treatment for seizures ** Uber Technologies Inc UBER.N: up 3.4% BUZZ-Uber jumps as co wins legal bid to restart London operations ** Sina Corp SINA.O: up 6.1% BUZZ-Rises on $2.6 bln deal to go private ** Expedia Group Inc EXPE.O: down 0.9% BUZZ-RBC downgrades as survey suggests slow travel recovery ** Weibo Corp WB.O: up 6.7% BUZZ-Rises on Q2 revenue beat ** Square Inc SQ.N: up 1.3% BUZZ-Gains after Credit Suisse raises price target ** Cleveland-Cliffs Inc CLF.N: up 10.5% BUZZ-Rises on purchase of ArcelorMittal's U.S. assets The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks jumped on Monday, bouncing back from the longest weekly losing streak in a year for the S&P 500 and the Dow, with technology, banks and travel shares leading the advance..N At 12:21 ET, the Dow Jones Industrial Average .DJI was up 1.72% at 27,642.62. The S&P 500 .SPX was up 1.44% at 3,345.95 and the Nasdaq Composite .IXIC was up 1.07% at 11,030.094. | f640e285-0b68-4732-be9b-f9ed675dd632 |
32431.0 | 2020-09-25 00:00:00 UTC | 3 Dividend Aristocrats to Buy and Hold Forever | ABT | https://www.nasdaq.com/articles/3-dividend-aristocrats-to-buy-and-hold-forever-2020-09-25 | nan | nan | What's more attractive to income-seeking investors than a solid dividend stock? A solid stock with dividends that increase year in and year out. The longer the track record of dividend increases, the better.
It's easy to find stocks that meet those criteria. Just check out the group of stocks known as Dividend Aristocrats. These stocks are members of the S&P 500 index that have increased their dividends for at least 25 consecutive years. But some of these elite stocks are smarter picks than others. Here are three Dividend Aristocrats that you can buy and hold forever.
Image source: Getty Images.
1. Abbott Laboratories
Abbott Laboratories (NYSE: ABT) has increased its dividend for 48 years in a row. The big healthcare company has paid a dividend in every quarter since 1924 -- that's 387 consecutive quarters.
Most companies would be glad to be the leader in just one market; Abbott claims a leadership position in at least half a dozen. It sells market-leading cardiovascular care, diabetes care, diagnostics, neuromodulation care, and nutrition products plus top-branded generic drugs.
Abbott isn't content to rest on its laurels, though. Fast Company magazine named it the "2020 World Changing Company of the Year." This honor recognized the company's achievements in improving global health, including developing Amplatzer Piccolo Occluder, a device that treats babies with an opening in their hearts.
The company's innovation should translate to great long-term returns for investors. Wall Street analysts project that Abbott will deliver average annual earnings growth of nearly 15% over the next five years. This growth will be fueled by new products including the Freestyle Libre 2 continuous glucose monitoring system and Abbott's lineup of COVID-19 diagnostics tests.
2. Johnson & Johnson
If you like Abbott's dividend track record, you'll probably love Johnson & Johnson (NYSE: JNJ). The healthcare giant has raised its dividend for an impressive 58 consecutive years. That's a streak that qualifies J&J as not only a Dividend Aristocrat but also a Dividend King -- stocks that have increased their dividends at least 50 years in a row.
Johnson & Johnson is a household name because of its consumer health products such as Band-Aid and Tylenol. While the company's consumer health segment is a multibillion-dollar business, it's actually the smallest of J&J's three segments. Medical devices and pharmaceuticals generate much higher revenue for the healthcare company.
One area where J&J hasn't been a leader in the past is in developing vaccines. That's probably about to change, though. The company recently initiated a phase 3 study of its coronavirus vaccine candidate, joining three other drugmakers that have begun late-stage testing of experimental COVID-19 vaccines in the U.S.
Johnson & Johnson isn't likely to deliver mind-blowing growth. However, the company's diversification across the healthcare sector, continuous innovation, and financial flexibility to make strategic acquisitions arguably make it one of the safest dividend stocks on the market.
3. Walmart
Walmart (NYSE: WMT) ranks as another solid Dividend Aristocrat that's approaching Dividend King status. The huge discount retailer has boosted its dividend payout for 47 consecutive years.
It's hard to overstate just how much Walmart has shaken up the retail landscape. The company currently operates around 11,500 stores in 27 countries. It estimates that more than 265 million customers visit its retail locations and e-commerce sites on a weekly basis.
The company's disruption isn't over yet. Walmart recently launched its Walmart+ membership program that provides free grocery delivery and fuel discounts at nearly 2,000 Walmart, Murphy USA, and Murphy Express fuel stations.
The company could also soon be a leader in a very different market. The retailer is teaming up with Oracle to partner with TikTok in a deal to enable the video-sharing platform to continue its U.S. operations. Â
10 stocks we like better than Johnson & Johnson
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Keith Speights 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. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) has increased its dividend for 48 years in a row. This honor recognized the company's achievements in improving global health, including developing Amplatzer Piccolo Occluder, a device that treats babies with an opening in their hearts. Wall Street analysts project that Abbott will deliver average annual earnings growth of nearly 15% over the next five years. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) has increased its dividend for 48 years in a row. Johnson & Johnson If you like Abbott's dividend track record, you'll probably love Johnson & Johnson (NYSE: JNJ). Walmart recently launched its Walmart+ membership program that provides free grocery delivery and fuel discounts at nearly 2,000 Walmart, Murphy USA, and Murphy Express fuel stations. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) has increased its dividend for 48 years in a row. Johnson & Johnson If you like Abbott's dividend track record, you'll probably love Johnson & Johnson (NYSE: JNJ). That's a streak that qualifies J&J as not only a Dividend Aristocrat but also a Dividend King -- stocks that have increased their dividends at least 50 years in a row. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) has increased its dividend for 48 years in a row. A solid stock with dividends that increase year in and year out. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Johnson & Johnson wasn't one of them! | c2512a25-c1af-486b-b90e-7a616ce1f7df |
32432.0 | 2020-09-25 00:00:00 UTC | Boston Scientific Stock Can See Over 10% Gains | ABT | https://www.nasdaq.com/articles/boston-scientific-stock-can-see-over-10-gains-2020-09-25 | nan | nan | We believe Boston Scientific stock (NYSE:BSX) could see an upside of over 10% in the near term. BSX stock trades at $39 currently and it has lost 15% of its value so far this year. It traded at a pre-Covid high of $43 in February, and it is still 11% below that level now. Also, BSX stock has gained 49% from the low of $26 seen in March 2020, as the Fed stimulus largely put investor concerns about the near-term survival of companies to rest. Boston Scientificâs business was also impacted by postponement of elective surgeries. Despite the strong rally in BSX stock since late March, we believe that the stock has more room for growth in the near future. Our conclusion is based on our detailed analysis of Boston Scientificâs stock performance during the current crisis with that during the 2008 recession in an interactive dashboard analysis.
2020 Coronavirus Crisis
Timeline of 2020 Crisis So Far:
12/12/2019: Coronavirus cases first reported in China
1/31/2020: WHO declares a global health emergency.
2/19/2020: Signs of effective containment in China and hopes of monetary easing by major central banks helps S&P 500 reach a record high
3/23/2020: S&P 500 drops 34% from the peak level seen on Feb 19, as Covid-19 cases accelerate outside China. Doesnât help that oil prices crash in mid-March amid Saudi-led price war
From 3/24/2020: S&P 500 recovers 48%Â from the lows seen on Mar 23, as the Fedâs multi-billion dollar stimulus package suppresses near-term survival anxiety and infuses liquidity into the system.
In contrast, hereâs how Boston Scientific and the broader market performed during the 2007/2008 crisis.
Timeline of 2007-08 Crisis
10/1/2007: Approximate pre-crisis peak in S&P 500 index
9/1/2008 â 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08)
3/1/2009: Approximate bottoming out of S&P 500 index
1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008)
Boston Scientific vs S&P 500 Performance Over 2007-08 Financial Crisis
BSX stock declined from levels of around $14 in September 2007 (pre-crisis peak) to levels of around $7 in March 2009 (as the markets bottomed out), implying BSX stock lost 50% from its approximate pre-crisis peak. It recovered post the 2008 crisis, to levels of about $9 in early 2010, rising by 28% between March 2009 and January 2010. In comparison, the S&P 500 Index saw a decline of 51%, followed by a recovery of 48%.Â
Boston Scientificâs Fundamentals in Recent Years Look Strong
Boston Scientificâs Revenues grew a strong 43% from $7.5 billion in 2015 to $10.7 billion in 2019, primarily led by its MedSurg and Cardiovascular segments, which added around $1.3 billion each in sales during the same period. With the strong growth in revenues, the companyâs margins also expanded from 23.0% to 29.4% after adjustments, resulting in a 68% EPS growth from $0.94 in 2015 to $1.58 in 2019 on an adjusted basis. However, the companyâs Q2 2020 revenues were 24% below the level seen a year ago, and the Non-GAAP EPS figure for the quarter slid from $0.39 in Q2 2019 to $0.08 in Q2 2020.
Does Boston Scientific Have A Sufficient Cash Cushion To Meet Its Obligations Through The Coronavirus Crisis?
Boston Scientificâs total debt increased from $5.0 billion in 2016 to $9.5 at the end of Q2 2020, while its total cash increased from $196 million to $1.7 billion over the same period. The company also generated $192 million in cash from its operations in the first half of 2020, and it appears to be in a reasonable position to weather the crisis.
CONCLUSION
Phases of Covid-19 crisis:
Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally
Late-March 2020 onward: Social distancing measures + lockdowns
April 2020: Fed stimulus suppresses near-term survival anxiety
May-June 2020: Recovery of demand, with gradual lifting of lockdowns â no panic anymore despite a steady increase in the number of cases
July-September 2020: Poor Q2 results for many companies, but continued improvement in demand and a decline in the number of new cases and progress with vaccine development buoy expectations
Going by the historical performance, we believe that BSX stock has more room for growth in the near future.
What if youâre looking for a more balanced portfolio instead? Hereâs a high quality portfolio to beat the market, with over 100% return since 2016, versus 55% for the S&P 500. Comprised of companies with strong revenue growth, healthy profits, lots of cash, and low risk, it has outperformed the broader market year after year, consistently.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Also, BSX stock has gained 49% from the low of $26 seen in March 2020, as the Fed stimulus largely put investor concerns about the near-term survival of companies to rest. Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 â 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Boston Scientific vs S&P 500 Performance Over 2007-08 Financial Crisis BSX stock declined from levels of around $14 in September 2007 (pre-crisis peak) to levels of around $7 in March 2009 (as the markets bottomed out), implying BSX stock lost 50% from its approximate pre-crisis peak. Phases of Covid-19 crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns â no panic anymore despite a steady increase in the number of cases July-September 2020: Poor Q2 results for many companies, but continued improvement in demand and a decline in the number of new cases and progress with vaccine development buoy expectations Going by the historical performance, we believe that BSX stock has more room for growth in the near future. | Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 â 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Boston Scientific vs S&P 500 Performance Over 2007-08 Financial Crisis BSX stock declined from levels of around $14 in September 2007 (pre-crisis peak) to levels of around $7 in March 2009 (as the markets bottomed out), implying BSX stock lost 50% from its approximate pre-crisis peak. In comparison, the S&P 500 Index saw a decline of 51%, followed by a recovery of 48%. Boston Scientificâs Fundamentals in Recent Years Look Strong Boston Scientificâs Revenues grew a strong 43% from $7.5 billion in 2015 to $10.7 billion in 2019, primarily led by its MedSurg and Cardiovascular segments, which added around $1.3 billion each in sales during the same period. Phases of Covid-19 crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns â no panic anymore despite a steady increase in the number of cases July-September 2020: Poor Q2 results for many companies, but continued improvement in demand and a decline in the number of new cases and progress with vaccine development buoy expectations Going by the historical performance, we believe that BSX stock has more room for growth in the near future. | Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 â 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Boston Scientific vs S&P 500 Performance Over 2007-08 Financial Crisis BSX stock declined from levels of around $14 in September 2007 (pre-crisis peak) to levels of around $7 in March 2009 (as the markets bottomed out), implying BSX stock lost 50% from its approximate pre-crisis peak. In comparison, the S&P 500 Index saw a decline of 51%, followed by a recovery of 48%. Boston Scientificâs Fundamentals in Recent Years Look Strong Boston Scientificâs Revenues grew a strong 43% from $7.5 billion in 2015 to $10.7 billion in 2019, primarily led by its MedSurg and Cardiovascular segments, which added around $1.3 billion each in sales during the same period. Phases of Covid-19 crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns â no panic anymore despite a steady increase in the number of cases July-September 2020: Poor Q2 results for many companies, but continued improvement in demand and a decline in the number of new cases and progress with vaccine development buoy expectations Going by the historical performance, we believe that BSX stock has more room for growth in the near future. | BSX stock trades at $39 currently and it has lost 15% of its value so far this year. In contrast, hereâs how Boston Scientific and the broader market performed during the 2007/2008 crisis. Comprised of companies with strong revenue growth, healthy profits, lots of cash, and low risk, it has outperformed the broader market year after year, consistently. | 58cdafde-1618-4a44-ae68-6baf3bf5fb74 |
32433.0 | 2020-09-24 00:00:00 UTC | Everything Investors Need to Know About Coronavirus Tests | ABT | https://www.nasdaq.com/articles/everything-investors-need-to-know-about-coronavirus-tests-2020-09-24 | nan | nan | With the coronavirus pandemic showing no signs of stopping, public health officials everywhere agree that testing is critical to slowing the spread. Nearly 100 million diagnostic tests have been administered in the U.S. alone, where major diagnostic laboratories charge around $100 per assay. Producing enough tests to serve the world's dire need is a constant challenge, and countless corporations have stepped up to pitch in. Amid the rush to manufacture tests at massive scale, companies are also competing to offer diagnostics with the features that clinicians want the most.
Between the ever-expanding selection of testing products, manufacturers, and regulatory authorizations, it's easy to see how investors might get lost in the details. Read on and you'll soon have the background you need to intelligently consider the coronavirus diagnostics market.
Image source: Getty Images.
Diagnostic tests are the bedrock of the public health response
There are two classes of test: diagnostic tests and antibody tests. Diagnostics tell patients and clinicians whether someone is currently battling a coronavirus infection. In contrast, antibody tests, also known as serology tests, measure whether a person was infected in the past to assess if they might be immune to reinfection. I'll discuss diagnostic tests first because they're more common and also more useful to patients.
Before any diagnostic test can be run, clinicians need to obtain a sample from the patient. The most common method is the nasopharyngeal swab, which requires a healthcare worker to gather secretions from the deepest portions of a patient's nasal tract. This process is quite unpleasant, but it's the most common and most reliable method at the moment. Thankfully, saliva-based tests are becoming more prevalent. Some saliva-based kits are available for at-home sample collection, while most swab kits require a trained professional.
Once the patient's sample is in hand, there are two types of diagnostic tests that can be run: molecular tests and antigen tests. Many of the major healthcare companies, such as Thermo Fischer (NYSE: TMO) produce molecular tests, whereas a small but growing number of companies like Becton, Dickinson (NYSE: BDX) and Quidel Corporation (NASDAQ: QDEL) make both types of diagnostics.
Science and product design intersect in molecular diagnostics
Most molecular tests use a laboratory technique called reverse transcription polymerase chain reaction, known as RT-PCR. RT-PCR is used extensively to diagnose all kinds of diseases, and it works by amplifying specific sequences of RNA within a patient's sample. For those who aren't familiar with RNA, the only thing you need to know is that RNA is a type of molecule that bears genetic information and is very similar to DNA.
In the case of a coronavirus molecular diagnostic, the RT-PCR amplifies any sequences of RNA from the virus, which uses RNA to encode its genetic information. If the patient isn't infected, the RT-PCR won't be able to amplify these sequences because they won't exist, and the test will come back as negative. But if the patient is infected, the RT-PCR will show that there are a myriad number of copies of the virus-associated RNA sequences, and the patient will test positive. RT-PCR tests are heavily favored by all parties because they are exceedingly accurate, cheap to manufacture, and inexpensive to process on ubiquitous laboratory hardware in hospitals and clinics.
While there are a growing number of "real-time" RT-PCR tests that are capable of delivering results in real time, as their name implies, RT-PCR diagnostics are not inherently rapid tests. Most take several hours to be processed, but patients may need to wait for as long as a week to get their results due to backlogs in processing or reporting.
This isn't the case with antigen tests, which are typically considered rapid tests because they deliver results within minutes. Unlike RT-PCR tests, antigen diagnostics determine whether there are viral proteins in the patient's sample (rather than viral DNA). Antigen assays can deliver false negatives as much as 30% of the time if they are administered very early in the course of an infection, but their false positive rate is vanishingly low. While they aren't as sensitive as RT-PCR tests, antigen tests tend to be even less expensive to manufacture and process.
Antibody tests aren't all they're hyped to be, but Abbott's new product might be
At present, the U.S. Food and Drug Administration (FDA) has issued emergency use authorization to a handful of different antibody tests, including those produced by companies such as Abbott Laboratories (NYSE: ABT) and Bio-Rad Laboratories (NYSE: BIO). In contrast to diagnostic tests, antibody assays require a blood draw to detect immunity. These tests aren't capable of detecting an active infection, but samples are usually processed within a couple of days.
Unfortunately, antibody tests have a reputation for false positives and botched product launches. They're also significantly more expensive than diagnostic tests, and they don't necessarily provide patients with any actionable information because it's unclear how long immunity to the coronavirus lasts. It's also uncertain whether antibody tests will find a role in public health strategy or whether they're a dead end in terms of providing ongoing value to the relevant stakeholders.
Antibody assays aside, one thing is for sure: Investors should pay close attention to Abbott Laboratories' new BinaxNOW COVID-19 Ag Card test, which is already disrupting the status quo within the testing market. The antigen diagnostic costs only $5, requires no specialized hardware to process, and delivers results within 15 minutes of gathering a nasal swab from the patient. It's no surprise that after getting its emergency use authorization in late August, Abbott's stock price rose promptly.
Expect Abbott and other companies that refine this idea to prosper in the testing market. Time will tell whether future innovations in saliva-based testing can enable consumers to test themselves and get rapid results without the help of a healthcare worker when they are at home or on the go.
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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. | Antibody tests aren't all they're hyped to be, but Abbott's new product might be At present, the U.S. Food and Drug Administration (FDA) has issued emergency use authorization to a handful of different antibody tests, including those produced by companies such as Abbott Laboratories (NYSE: ABT) and Bio-Rad Laboratories (NYSE: BIO). RT-PCR tests are heavily favored by all parties because they are exceedingly accurate, cheap to manufacture, and inexpensive to process on ubiquitous laboratory hardware in hospitals and clinics. They're also significantly more expensive than diagnostic tests, and they don't necessarily provide patients with any actionable information because it's unclear how long immunity to the coronavirus lasts. | Antibody tests aren't all they're hyped to be, but Abbott's new product might be At present, the U.S. Food and Drug Administration (FDA) has issued emergency use authorization to a handful of different antibody tests, including those produced by companies such as Abbott Laboratories (NYSE: ABT) and Bio-Rad Laboratories (NYSE: BIO). Once the patient's sample is in hand, there are two types of diagnostic tests that can be run: molecular tests and antigen tests. Many of the major healthcare companies, such as Thermo Fischer (NYSE: TMO) produce molecular tests, whereas a small but growing number of companies like Becton, Dickinson (NYSE: BDX) and Quidel Corporation (NASDAQ: QDEL) make both types of diagnostics. | Antibody tests aren't all they're hyped to be, but Abbott's new product might be At present, the U.S. Food and Drug Administration (FDA) has issued emergency use authorization to a handful of different antibody tests, including those produced by companies such as Abbott Laboratories (NYSE: ABT) and Bio-Rad Laboratories (NYSE: BIO). Diagnostic tests are the bedrock of the public health response There are two classes of test: diagnostic tests and antibody tests. Once the patient's sample is in hand, there are two types of diagnostic tests that can be run: molecular tests and antigen tests. | Antibody tests aren't all they're hyped to be, but Abbott's new product might be At present, the U.S. Food and Drug Administration (FDA) has issued emergency use authorization to a handful of different antibody tests, including those produced by companies such as Abbott Laboratories (NYSE: ABT) and Bio-Rad Laboratories (NYSE: BIO). Once the patient's sample is in hand, there are two types of diagnostic tests that can be run: molecular tests and antigen tests. In the case of a coronavirus molecular diagnostic, the RT-PCR amplifies any sequences of RNA from the virus, which uses RNA to encode its genetic information. | a8ec040c-8d84-45e6-83bf-aa11a57808b2 |
32434.0 | 2020-09-23 00:00:00 UTC | ANALYSIS-Canada's COVID-19 testing system overwhelmed after slow move to new tests | ABT | https://www.nasdaq.com/articles/analysis-canadas-covid-19-testing-system-overwhelmed-after-slow-move-to-new-tests-2020-09 | nan | nan | By Allison Martell
TORONTO, Sept 23 (Reuters) - Canada's recent spike in COVID-19 cases has created day-long lines at testing centers and prolonged waits for results, highlighting gaps in a system that leans heavily on traditional laboratory tests in a nation that has been slow to adopt newer, faster diagostic technologies.
While other countries have approved new ways to test for COVID-19 in recent months, like rapid point-of-care tests, much of Canada stuck with the basics: deep nasal swabs collected by healthcare workers and sent off to labs.
New rapid point-of-care tests or home collection kits used in the United States could help clear the backlog, but are not yet available in Canada.
The U.S. Food and Drug Administration authorized its first home collection kit on April 21. Health Canada discouraged applications for similar kits until late August, citing concerns about misuse, before changing course.
The long lines and waits for results could accelerate the spread of the virus by discouraging testing and making contact tracing more difficult.
"I'm really concerned that people who have to leave the house to perform essential services are in a bind," said Jennifer Hulme, an emergency physician in Toronto.
Canada's new cases have surged past 1,000 per day, after dropping below 300 in late June, numbers that still pale compared with surging outbreaks in the United States.
"There's got to be more testing stations. There have to be more people employed, emergency measures taken. This is ridiculous," said high school teacher Mary Capin, 47, outside Toronto's Women's College Hospital on Friday.
Health Canada in a statement said it is reviewing new kinds of tests "as quickly as possible without compromising patient safety" and working closely with manufacturers in Canada and abroad.
"We have also regularly contacted manufacturers who obtained an authorization from another jurisdiction to encourage them to file a submission with Health Canada," the agency said.
Canadian labs tested about 47,000 people each day last week, and the country said last week it is aiming to get up to 200,000 tests a day.
The World Health Organization has urged countries to test until less than 10% of samples are positive. Only 1.4% of COVID-19 tests in Canada were positive last week, but public health experts argue that wider testing limits future virus spread.
FALSE POSITIVES COULD ADD TO TESTING BACKLOG
Some doctors in Ontario have called for new testing guidelines that focus on those who have symptoms or had contact with an infected individual - an approach that could miss some contagious people. Right now, that group must rely on the same testing sites as those who need proof of a negative test to visit care homes, and anyone else who wants a test.
A potential solution would be to offer some people a different type of test - if only they were available in Canada.
Point-of-care tests from Quidel QDEL.O and Becton Dickinson BDX.N that deliver results in a few minutes using small handheld machines would reduce the burden on labs.
Those tests are under review by Health Canada. Becton said it applied in Canada in July, after receiving emergency authorization in the United States. Quidel did not immediately comment.
At-home testing is another approach that could ease pressure on hospitals, where finding staff and space to test many people is a challenge.
In the United States, part of the next wave of testing expansion will come in the form of inexpensive disposable tests like Abbott's ABT.N BinaxNOW, a $5 credit card-sized device.
A similar Abbott test called the Panbio and one from Canada's Sona Nanotech SONA.CD are also under review in Canada.
Other cheap, rapid tests may not be as acurate as lab tests, detecting the virus 80% to 90% of the time versus more than 95% for lab-based tests and the BinaxNOW - but could help ease the current backlog through speed and scale.
However, wide use of less accurate testing could lead to more false positives - healthy people testing positive - requiring confirmatory lab-based tests that could add to current backlogs, noted David Naylor, former dean of medicine and president of the University of Toronto, who has advocated for rapid testing in schools and workplaces.
Public health leaders, Naylor said, "may worry about a boatload of confirmatory test specimens turning up at public health labs."
(Additional reporting by Carlos Osorio in Toronto and Steve Scherer in Ottawa; Editing by Denny Thomas and Bill Berkrot)
((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. | In the United States, part of the next wave of testing expansion will come in the form of inexpensive disposable tests like Abbott's ABT.N BinaxNOW, a $5 credit card-sized device. The long lines and waits for results could accelerate the spread of the virus by discouraging testing and making contact tracing more difficult. Some doctors in Ontario have called for new testing guidelines that focus on those who have symptoms or had contact with an infected individual - an approach that could miss some contagious people. | In the United States, part of the next wave of testing expansion will come in the form of inexpensive disposable tests like Abbott's ABT.N BinaxNOW, a $5 credit card-sized device. New rapid point-of-care tests or home collection kits used in the United States could help clear the backlog, but are not yet available in Canada. Health Canada discouraged applications for similar kits until late August, citing concerns about misuse, before changing course. | In the United States, part of the next wave of testing expansion will come in the form of inexpensive disposable tests like Abbott's ABT.N BinaxNOW, a $5 credit card-sized device. Right now, that group must rely on the same testing sites as those who need proof of a negative test to visit care homes, and anyone else who wants a test. Other cheap, rapid tests may not be as acurate as lab tests, detecting the virus 80% to 90% of the time versus more than 95% for lab-based tests and the BinaxNOW - but could help ease the current backlog through speed and scale. | In the United States, part of the next wave of testing expansion will come in the form of inexpensive disposable tests like Abbott's ABT.N BinaxNOW, a $5 credit card-sized device. New rapid point-of-care tests or home collection kits used in the United States could help clear the backlog, but are not yet available in Canada. Only 1.4% of COVID-19 tests in Canada were positive last week, but public health experts argue that wider testing limits future virus spread. | 835cd009-7ad5-42bd-9d20-6615b2164a00 |
32435.0 | 2020-09-23 00:00:00 UTC | 3 Safe Coronavirus Stocks to Buy Ahead of a Market Crash | ABT | https://www.nasdaq.com/articles/3-safe-coronavirus-stocks-to-buy-ahead-of-a-market-crash-2020-09-23 | nan | nan | September hasn't been brilliant for stocks so far. The S&P 500 has dropped 5.2% through last week, and a tech stock rout left the Nasdaq down 8.3%. With the coronavirus crisis still around and the presidential election ahead, the market turmoil may not be over. So it's time to be proactive and start stocking up on shares that will be long-term winners. That means companies with strong products. They will generate sales during tough times and beyond.
We often think of coronavirus stocks as those that offer massive short-term gains (and the risk of similar losses). But today, I'm talking about three companies with promising coronavirus work and huge portfolios of other successful products. They represent a way to invest in the coronavirus market, with lower risk. And that makes them the perfect additions to your portfolio ahead of a crash.
Image source: Getty Images.
Abbott Laboratories
In a matter of months, Abbott Laboratories (NYSE: ABT) has become a coronavirus testing giant. The U.S. Food and Drug Administration (FDA) has granted emergency use authorization to sixAbbott coronavirus tests. And so far, Abbott has provided more than 27 million tests across the country. The latest test to launch is one that could be key in the effort to test entire populations. The test, used to detect active infection, involves portable material about the size of a credit card and provides results in 15 minutes. The company plans to ship as many as 50 million tests a month as of October.
Some of Abbott's coronavirus tests have already contributed to earnings. In the second quarter, they generated $615 million in sales. We should expect coronavirus testing sales growth in the coming months as more and more Americans want or require testing. At the same time, recovery is likely ahead for sales of Abbott's other tests and medical devices. Most suffered in the early days of the outbreak as clients postponed nonessential procedures. An exception was diabetes care. Sales of Abbott's FreeStyle Libre glucose monitoring system rose more than 36% in the quarter. The FDA clearance of a newer version a few months ago may further boost sales. So, in coming quarters, a return to normal for the rest of Abbott's business plus growth in coronavirus tests and diabetes care should be a winning combination.
Pfizer
Pfizer (NYSE: PFE) and partner BioNTech (NASDAQ: BNTX) are among leaders in the coronavirus vaccine race. The big pharma joined forces with the biotech company on a vaccine based on messenger RNA. Instead of introducing weakened virus into the body, mRNA vaccines instruct the body to defend itself. With these instructions, the body makes a version of the target protein that will spur immune system response. Pfizer said it's on track to report efficacy data from late-stage trials by the end of October. And more good news for Pfizer: FDA Commissioner Stephen Hahn recently saidthe agency would consider granting companies emergency use authorization even if phase 3 trials aren't complete.
There's a lot to Pfizer beyond coronavirus work, of course, and that's what makes it a rather safe bet. Pfizer's main revenue driver is biopharma, with the segment bringing in $9.8 billion of the company's $11.8 billion in second-quarter revenue. Vyndaqel, a treatment for a cause of heart failure, and cancer drug Ibrance are among products that led the quarter's 6% gain in biopharma sales. Importantly, Pfizer has 89 programs in the pipeline, and 23 are in phase 3. Pfizer expects the pipeline to contribute to a revenue compound annual growth rate of at least 6% over the coming five years, and top-line growth beyond that point.
Regeneron
If Regeneron Pharmaceuticals (NASDAQ: REGN) is successful with its coronavirus program, the result could be big. The company is developing an "antibody cocktail" to treat and prevent infection. Regeneron screened thousands of antibodies produced by mice (genetically engineered to have human immune systems) and antibodies from recovered coronavirus patients. Researchers chose the two most potent for the product candidate. A phase 3 U.K. study is now evaluating the cocktail in combination with standard of care in the treatment of hospitalized patients. In July, the company launched a phase 3 U.S. trial to examine the cocktail's ability to prevent infection among people in close contact with coronavirus patients -- such as a housemate.
Beyond coronavirus work, Regeneron has six marketed drugs. They include Eylea for wet age-related macular degeneration and Dupixent for atopic dermatitis. Annual revenue has been on the rise since 2012, reaching more than $7.8 billion last year. And the biotech company's earnings have surpassed analysts' estimates for the past four quarters. Regeneron's pipeline of more than 30 programs, including nine in phase 3, makes me optimistic about growth years down the road.
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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 In a matter of months, Abbott Laboratories (NYSE: ABT) has become a coronavirus testing giant. So, in coming quarters, a return to normal for the rest of Abbott's business plus growth in coronavirus tests and diabetes care should be a winning combination. And more good news for Pfizer: FDA Commissioner Stephen Hahn recently saidthe agency would consider granting companies emergency use authorization even if phase 3 trials aren't complete. | Abbott Laboratories In a matter of months, Abbott Laboratories (NYSE: ABT) has become a coronavirus testing giant. The U.S. Food and Drug Administration (FDA) has granted emergency use authorization to sixAbbott coronavirus tests. We should expect coronavirus testing sales growth in the coming months as more and more Americans want or require testing. | Abbott Laboratories In a matter of months, Abbott Laboratories (NYSE: ABT) has become a coronavirus testing giant. We should expect coronavirus testing sales growth in the coming months as more and more Americans want or require testing. So, in coming quarters, a return to normal for the rest of Abbott's business plus growth in coronavirus tests and diabetes care should be a winning combination. | Abbott Laboratories In a matter of months, Abbott Laboratories (NYSE: ABT) has become a coronavirus testing giant. At the same time, recovery is likely ahead for sales of Abbott's other tests and medical devices. Beyond coronavirus work, Regeneron has six marketed drugs. | 1c6f27a4-bbd0-4fdb-80f4-5f7e2751513c |
32436.0 | 2020-09-22 00:00:00 UTC | Abbott Wins European Approval for Latest MitraClip Heart Valve Device | ABT | https://www.nasdaq.com/articles/abbott-wins-european-approval-for-latest-mitraclip-heart-valve-device-2020-09-22 | nan | nan | Abbott Laboratories (NYSE: ABT) has scored a fresh victory across the Atlantic Ocean. The company announced Monday that it has been granted a CE Mark for its MitraClip G4, the latest version of its popular heart valve replacement device, which means it is approved for use in the countries of the European Union.
The G4 had already been approved for use in the U.S. by the Food and Drug Administration. It treats mitral regurgitation, a condition in which the mitral valve that sits between the left atrium and left ventricle of the heart fails to close properly. According to Abbott, this is a common heart condition -- among people 75 and older, one in 10 suffer from it.
Image source: Getty Images.
"This CE Mark, along with other recent approvals and advancements for our MitraClip device, underscores the need for MitraClip's innovative therapy -- which has become a preferred choice for the treatment of mitral regurgitation around the world," Abbott quoted Michael Dale, senior vice president of its structural heart business, as saying.
The MitraClip was developed in the late 1990s and early 2000s by a company called Evalve, which was bought by Abbott in 2009. The first version of the device was approved for use in Europe in 2008, and in the U.S. in 2013. According to Abbott, more than 30,000 patients have received MitraClips.
Despite the new regulatory green light, Abbott shares fell by almost 1.1% Tuesday, in contrast to the gains posted by the major 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. | Abbott Laboratories (NYSE: ABT) has scored a fresh victory across the Atlantic Ocean. The company announced Monday that it has been granted a CE Mark for its MitraClip G4, the latest version of its popular heart valve replacement device, which means it is approved for use in the countries of the European Union. "This CE Mark, along with other recent approvals and advancements for our MitraClip device, underscores the need for MitraClip's innovative therapy -- which has become a preferred choice for the treatment of mitral regurgitation around the world," Abbott quoted Michael Dale, senior vice president of its structural heart business, as saying. | Abbott Laboratories (NYSE: ABT) has scored a fresh victory across the Atlantic Ocean. The company announced Monday that it has been granted a CE Mark for its MitraClip G4, the latest version of its popular heart valve replacement device, which means it is approved for use in the countries of the European Union. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | Abbott Laboratories (NYSE: ABT) has scored a fresh victory across the Atlantic Ocean. "This CE Mark, along with other recent approvals and advancements for our MitraClip device, underscores the need for MitraClip's innovative therapy -- which has become a preferred choice for the treatment of mitral regurgitation around the world," Abbott quoted Michael Dale, senior vice president of its structural heart business, as saying. 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) has scored a fresh victory across the Atlantic Ocean. "This CE Mark, along with other recent approvals and advancements for our MitraClip device, underscores the need for MitraClip's innovative therapy -- which has become a preferred choice for the treatment of mitral regurgitation around the world," Abbott quoted Michael Dale, senior vice president of its structural heart business, as saying. The first version of the device was approved for use in Europe in 2008, and in the U.S. in 2013. | 739cbdc3-3d65-4147-8f45-120d81b2a7ff |
32437.0 | 2020-09-21 00:00:00 UTC | Is The Rally Over For Abbott Stock? | ABT | https://www.nasdaq.com/articles/is-the-rally-over-for-abbott-stock-2020-09-21 | nan | nan | Abbott Labsâ stock (NYSE:ABT) trades at $107 currently and it has gained 24% in value so far this year. It traded at a pre-Covid high of $89 in February, and it is currently 20% higher than that level. Also, ABT stock has gained 71% from the low of $62 seen in March 2020, as the demand for its Covid-19 tests have increased, and deferred surgeries, which impacted Abbottâs business earlier in the year, have now resumed, indicating the worst is probably behind for Abbott. That said, going by historical performance, and in view of the strong rally in ABT stock since late March, we believe that the stock has little room for growth in the near future. Our conclusion is based on our detailed analysis of Abbottâs stock performance during the current crisis with that during the 2008 recession in an interactive dashboard analysis.
2020 Coronavirus Crisis
Timeline of 2020 Crisis So Far:
12/12/2019: Coronavirus cases first reported in China
1/31/2020: WHO declares a global health emergency.
2/19/2020: Signs of effective containment in China and hopes of monetary easing by major central banks helps S&P 500 reach a record high
3/23/2020: S&P 500Â drops 34%Â from the peak level seen on Feb 19, as Covid-19 cases accelerate outside China. Doesnât help that oil prices crash in mid-March amid Saudi-led price war
Since 3/24/2020: S&P 500Â recovers 51%Â from the lows seen on Mar 23, as the Fedâs multi-billion dollar stimulus package suppresses near-term survival anxiety and infuses liquidity into the system.
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In contrast, hereâs how Abbott stock and the broader market performed during the 2007/2008 crisis.
Timeline of 2007-08 Crisis
10/1/2007: Approximate pre-crisis peak in S&P 500 index
9/1/2008 â 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08)
3/1/2009: Approximate bottoming out of S&P 500 index
1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008)
Abbott Stock Performance Over 2007-08 Financial Crisis
We see ABT stock declined from levels of around $19 in September 2007 (pre-crisis peak for markets) to levels of around $17 in March 2009 (as the markets bottomed out), implying ABT stock lost 11% from its approximate pre-crisis peak. It recovered post the 2008 crisis, to levels of about $20 in early 2010, rising by 17% between March 2009 and January 2010.
S&P 500 Performance Over The 2007-08 Financial Crisis
S&P 500 Index saw a decline of 51%, falling from levels of 1,540 in September 2007 to 757 in March 2009. It then rallied to levels of 1,124, rising by about 48% between March 2009 and January 2010.
Fundamentals
How Do Abbottâs Fundamentals Look In Recent Years?
Abbottâs Revenues grew a strong 56% from $20.4 billion in 2015 to $31.9 billion in 2019, primarily led by multiple acquisitions, including that of St. Jude Medical and Alere. Despite the strong growth in revenues, the companyâs margins fluctuated primarily due to one-off items related to restructuring, and changes in tax law among others. This resulted in EPS declining from $2.94 per share in 2015 to $2.07 in 2019. For better clarity, the companyâs adjusted EPS grew from $2.16 to $3.26 over the same period.
Survival Check
Does Abbott Have A Sufficient Cash Cushion To Meet Its Obligations Through The Coronavirus Crisis?
Abbottâs total debt decreased from $22.0 billion in 2016 to $18.1 billion in 2019, while its total cash also decreased from $18.8 billion to $4.1 billion over the same period. The company also generated $6.1 billion in cash from its operations, and it appears to be in a good position to weather the crisis.
CONCLUSION
Phases of Covid-19 crisis:
Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally
Late-March 2020 onward: Social distancing measures + lockdowns
April 2020: Fed stimulus suppresses near-term survival anxiety
May-June 2020:Â Recovery of demand, with gradual lifting of lockdowns â no panic anymore despite a steady increase in the number of cases
July-September 2020: Poor Q2 results for many companies, but continued improvement in demand and a decline in the number of new cases and progress with vaccine development buoy expectations
Going by the historical performance and in view of the strong rally in Abbott stock since late March, we believe that the stock has little room for growth in the near future.
What if instead you are looking for a more balanced portfolio? Hereâs a top quality portfolio to outperform the market, with over 100% return since 2016, versus 55% for the S&P 500. Comprised of companies with strong revenue growth, healthy profits, lots of cash, and low risk. It has outperformed the broader market year after year, consistently.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Also, ABT stock has gained 71% from the low of $62 seen in March 2020, as the demand for its Covid-19 tests have increased, and deferred surgeries, which impacted Abbottâs business earlier in the year, have now resumed, indicating the worst is probably behind for Abbott. Abbott Labsâ stock (NYSE:ABT) trades at $107 currently and it has gained 24% in value so far this year. That said, going by historical performance, and in view of the strong rally in ABT stock since late March, we believe that the stock has little room for growth in the near future. | That said, going by historical performance, and in view of the strong rally in ABT stock since late March, we believe that the stock has little room for growth in the near future. Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 â 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Abbott Stock Performance Over 2007-08 Financial Crisis We see ABT stock declined from levels of around $19 in September 2007 (pre-crisis peak for markets) to levels of around $17 in March 2009 (as the markets bottomed out), implying ABT stock lost 11% from its approximate pre-crisis peak. Abbott Labsâ stock (NYSE:ABT) trades at $107 currently and it has gained 24% in value so far this year. | That said, going by historical performance, and in view of the strong rally in ABT stock since late March, we believe that the stock has little room for growth in the near future. Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 â 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Abbott Stock Performance Over 2007-08 Financial Crisis We see ABT stock declined from levels of around $19 in September 2007 (pre-crisis peak for markets) to levels of around $17 in March 2009 (as the markets bottomed out), implying ABT stock lost 11% from its approximate pre-crisis peak. Abbott Labsâ stock (NYSE:ABT) trades at $107 currently and it has gained 24% in value so far this year. | That said, going by historical performance, and in view of the strong rally in ABT stock since late March, we believe that the stock has little room for growth in the near future. Abbott Labsâ stock (NYSE:ABT) trades at $107 currently and it has gained 24% in value so far this year. Also, ABT stock has gained 71% from the low of $62 seen in March 2020, as the demand for its Covid-19 tests have increased, and deferred surgeries, which impacted Abbottâs business earlier in the year, have now resumed, indicating the worst is probably behind for Abbott. | 0b8f839a-3340-4f50-b4eb-c22836237e1f |
32438.0 | 2020-09-18 00:00:00 UTC | Is Sorrento Stock Really Worth the Speculation? | ABT | https://www.nasdaq.com/articles/is-sorrento-stock-really-worth-the-speculation-2020-09-18 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Until this year, Sorrento Therapetics (NASDAQ:SRNE) was an obscure biotech operator. But this changed with the emergence with the novel coronavirus. Now SRNE stock has become one of the most controversial, and volatile, biotech stocks in the market.
Source: Shutterstock
From May until early August, Sorrento shares spiked from $2.60 to $19. But since then, there has been a flood of selling. Currently, Sorrento’s stock price is at $9,48. Yet the market capitalization is still a hefty $2.42 billion.
Keep in mind that Sorrento did not come public the typical way. Instead, the company pulled off a reverse merger with a corporate shell — called QuickByte — in September 2009. But like many of these types of deals, the stock price just isn’t sustainable.
Consider that reverse mergers typically do not have capital raises. There is also the issue of its lack of coverage on Wall Street. Further, when it comes to biotech companies, it can take a considerable amount of time for FDA approval, which many biotech stocks rely on for performance.
SRNE Stock Latest Developments
Sorrento was originally focused on oncology treatments, which is certainly a complicated area of medicine. But the company has – at an astonishing pace – transformed itself into a Covid-19 fighter.
7 Best-Performing Stocks to Buy In 4 ProShares ETFs
So let’s take a look at the main candidates in the pipeline:
COVI-GUARD (STI-1499): This is a therapeutic for Covid-19, which uses a neutralizing antibody to help decrease the risks of infection. Sorrento has recently begun the process to a Phase 1 trial.
Abivertinib: In May, Sorrento was granted an exclusive license to this from ACEA Therapeutics (the coverage is for all territories outside China). Abivertinib, which is in a Phase 2 trial, is targeted at those who suffer from pulmonary symptoms.
T-VIVA-19: This is a protein vaccine for Covid-19 that neutralizes antibodies and T-cell responses. This candidate is still in the preclinical stage. Note that other pharma operators — like Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA) — have candidates in Phase 3 trials.
COVI-TRACK: This is an in vitro diagnostic test kit for Covid-19.
So yes, the company has definitely been busy! But of these candidates, the one that is likely to have the most impact in the short-term is COVI-TRACK.
While there are various other diagnostic tests – such as from Abbott (NYSE:ABT) – Sorrento’s does have some advantages. The kit is quick, which can get results in about eight minutes, and is based on a person’s saliva. In fact, such a test could be a game-changer and be essential for many companies to better operate.
And even if a vaccine is approved soon, there will still be much demand for ongoing testing.
Bottom Line on Sorrento
Like any early-stage biotech company, there are notable risks with Sorrento. Let’s face it, when it comes to experimental medical advances, there are no guarantees
But Sorrento has also suffered from some unforced errors. For example, the CFO was recently terminated — and there was no reason provided. Such a move is often jarring for investors.
The CEO, Henry Ji, has also threatened legal action against short seller Hindenburg Research. But why waste time on such a thing? Especially when Sorrento is in a race to create innovative treatments? I’m not really sure.
And, of course, Ji has also stated, “We want to emphasize there is a cure. There is a solution that works 100 percent. If we have the neutralizing antibody in your body, you don’t need the social distancing. You can open up a society without fear.”
In the world of biotech, such bold statements are pretty rare! They are also something that can be a red flag for investors.
Yet despite all this, when looking at the pipeline of Sorrento, there does look like there is potential here. There is a good possibility for the diagnostic test to get approval and this could be a growth driver for SRNE. Although, for investors considering SRNE stock, the best approach is to use that part of the portfolio reserved for speculative investments.
On the date of publication, Tom Taulli did not have (either directly or indirectly) any positions in any of the securities mentioned in this article.
Tom Taulli (@ttaulli) is an advisor/board member for startups and author of various books and online courses about technology, including Artificial Intelligence Basics, The Robotic Process Automation Handbook and Learn Python Super Fast. He is also the founder of WebIPO, which was one of the first platforms for public offerings during the 1990s.
The post Is Sorrento Stock Really Worth the Speculation? 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. | While there are various other diagnostic tests – such as from Abbott (NYSE:ABT) – Sorrento’s does have some advantages. SRNE Stock Latest Developments Sorrento was originally focused on oncology treatments, which is certainly a complicated area of medicine. 7 Best-Performing Stocks to Buy In 4 ProShares ETFs So let’s take a look at the main candidates in the pipeline: COVI-GUARD (STI-1499): This is a therapeutic for Covid-19, which uses a neutralizing antibody to help decrease the risks of infection. | While there are various other diagnostic tests – such as from Abbott (NYSE:ABT) – Sorrento’s does have some advantages. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Until this year, Sorrento Therapetics (NASDAQ:SRNE) was an obscure biotech operator. COVI-TRACK: This is an in vitro diagnostic test kit for Covid-19. | While there are various other diagnostic tests – such as from Abbott (NYSE:ABT) – Sorrento’s does have some advantages. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Until this year, Sorrento Therapetics (NASDAQ:SRNE) was an obscure biotech operator. Further, when it comes to biotech companies, it can take a considerable amount of time for FDA approval, which many biotech stocks rely on for performance. | While there are various other diagnostic tests – such as from Abbott (NYSE:ABT) – Sorrento’s does have some advantages. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Until this year, Sorrento Therapetics (NASDAQ:SRNE) was an obscure biotech operator. Further, when it comes to biotech companies, it can take a considerable amount of time for FDA approval, which many biotech stocks rely on for performance. | 02e2d5ca-85e9-45ae-af31-399f3957d719 |
32439.0 | 2020-09-18 00:00:00 UTC | Is Co-Diagnostics Stock a Buy? | ABT | https://www.nasdaq.com/articles/is-co-diagnostics-stock-a-buy-2020-09-18 | nan | nan | Shares of Co-Diagnostics (NASDAQ: CODX) have bounced around a bit this year, to say the least.
At the start of the year, you could buy a share in the Salt Lake City-based molecular diagnostics company for less than a dollar. By Aug. 8, the price was $30.80 after the company announced it was working with partner Clinical Reference Laboratory to produce a saliva-based COVID-19 test using Co-Diagnostics' technology. That was a huge deal because it meant people could get an accurate test without an invasive nasal swab.
However, a few days later, after a second-quarter earnings miss, the stock dropped. Less than a month after that, on Sept. 4, the company's shares were down to $8.24. On Friday, they were back up more than 67%, past $12 a share, on the news of its partnership with Arches Research, a subsidiary of Polarity TE (NASDAQ: PTE), to sell Co-Diagnostics' Logix Smart Coronavirus Disease test kit. That bit of good news came after an independent study gave high marks for the accuracy of the Logix Smart test.
Image source: Getty Images.
What's behind the volatility?
Co-Diagnostics manufactures polymerase chain reaction (PCR) test kits to detect various infectious diseases, but its COVID-19 tests have been the primary driver for the company's revenues this year. Like other molecular tests, these are considered highly accurate, and the company received an Emergency Use Authorization (EUA) approval from the U.S. Food and Drug Administration (FDA) for its COVID-19 test in April.
The problem, at least in many investors' eyes, is that there's a lot of competition already in COVID-19 testing. Abbott Laboratories (NYSE: ABT), for example, has a $5 antigen-based test that gives results in 15 minutes. As of Friday, the FDA said it had authorized, via EUAs, 247 COVID-19 tests, including 197 molecular, 46 antibody, and four antigen-based tests.
CODX data by YCharts
CODX data by YCharts
The numbers give cause for optimism
The company's revenue over the past six months was a reported $25 million, up a whopping 393% year over year. Most of that revenue has come in over the past three months from the company's nasal swab coronavirus test kit, which management says has a gross margin of 70%. That also boosted the company's net income to a reported $11.5 million in the first six months, compared to a loss of $2.7 million over the same period a year ago.
At the pace it's going, this will be the company's first year with positive net income since it was founded in 2013. Co-Diagnostics is in a solid cash position at the moment with $18 million on the balance sheet, compared to less than a million in the same quarter last year.
It makes sense that Co-Diagnostics is focusing most of its efforts on its COVID-19 tests, as that's where the sales are this year. However, it has also developed a liquid biopsy to detect cancer, a molecular test for tuberculosis, and molecular tests for Zika, dengue, Chikungunya, and other mosquito-borne viruses. In the long run, its COVID-19 test may prove to be a big earner in part because Co-Diagnostics has beefed it up with a respiratory virus panel to differentiate between influenza A, influenza B, and COVID-19. That could potentially have a big effect; a 2018 Centers for Disease Control study found that an average of 8.3% of people in the United States are infected by flu strains each year.
What if a vaccine is found for COVID-19?
While an effective vaccine for COVID-19 would obviously put a dent in the demand for a coronavirus test kit, the tests will still be needed as schools and companies ramp up the return of students and workers. This will be the case until nearly everyone is vaccinated, which will likely take awhile. In the meantime, COVID-19 tests are needed to diagnose potential patients and help prevent the spread of the disease. The tests also help with tracking how and where COVID-19 is spreading.
Management at Co-Diagnostics said they feel the accuracy of the company's tests and its ability to screen large numbers of people give it an edge over competitors in the molecular test space.
Is the stock still a good buy?
Based on the company's improved financial position, I'd say yes, especially since it has come down off its highs of a couple of months ago. Co-Diagnostics is a growth stock, and one that is already making money. Its recent infusion of cash will allow it to develop more products that could carry it to success long after the COVID-19 pandemic is over.
Like a lot of growth stocks, its share price is a little bit ahead of its earnings, but I like the company's ability to shift gears, as shown by its switch to a saliva test for COVID-19.
10 stocks we like better than Abbott Laboratories
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David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Abbott Laboratories wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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Jim Halley owns shares of Co-Diagnostics. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories (NYSE: ABT), for example, has a $5 antigen-based test that gives results in 15 minutes. On Friday, they were back up more than 67%, past $12 a share, on the news of its partnership with Arches Research, a subsidiary of Polarity TE (NASDAQ: PTE), to sell Co-Diagnostics' Logix Smart Coronavirus Disease test kit. That could potentially have a big effect; a 2018 Centers for Disease Control study found that an average of 8.3% of people in the United States are infected by flu strains each year. | Abbott Laboratories (NYSE: ABT), for example, has a $5 antigen-based test that gives results in 15 minutes. On Friday, they were back up more than 67%, past $12 a share, on the news of its partnership with Arches Research, a subsidiary of Polarity TE (NASDAQ: PTE), to sell Co-Diagnostics' Logix Smart Coronavirus Disease test kit. CODX data by YCharts CODX data by YCharts The numbers give cause for optimism The company's revenue over the past six months was a reported $25 million, up a whopping 393% year over year. | Abbott Laboratories (NYSE: ABT), for example, has a $5 antigen-based test that gives results in 15 minutes. Co-Diagnostics manufactures polymerase chain reaction (PCR) test kits to detect various infectious diseases, but its COVID-19 tests have been the primary driver for the company's revenues this year. While an effective vaccine for COVID-19 would obviously put a dent in the demand for a coronavirus test kit, the tests will still be needed as schools and companies ramp up the return of students and workers. | Abbott Laboratories (NYSE: ABT), for example, has a $5 antigen-based test that gives results in 15 minutes. As of Friday, the FDA said it had authorized, via EUAs, 247 COVID-19 tests, including 197 molecular, 46 antibody, and four antigen-based tests. Most of that revenue has come in over the past three months from the company's nasal swab coronavirus test kit, which management says has a gross margin of 70%. | cba4145a-708d-4442-a467-62cddef02e9b |
32440.0 | 2020-09-18 00:00:00 UTC | 3 Dividend Stocks Perfect for Retirees | ABT | https://www.nasdaq.com/articles/3-dividend-stocks-perfect-for-retirees-2020-09-18 | nan | nan | What's the recipe for the perfect stock for retirees? Mix a hefty amount of stability with a generous heap of dividends. Then add at least a pinch of growth. Let the concoction simmer, and you should have years of steady income.
But which stocks contain all of these ingredients? Here are three dividend stocks that are perfect for retirees.
Image source: Getty Images.
1. Abbott Laboratories
Abbott Laboratories (NYSE: ABT) definitely checks off the box for stability. The company, founded in 1888, has grown to become one of the biggest healthcare companies in the world with nearly $32 billion in revenue last year. Abbott has ranked No. 1 in its industry among Fortune's Most Admired Companies for seven years in a row.
Few healthcare companies offer more diversification than Abbott Labs. Its products include branded generic drugs, diagnostics systems, medical devices, and nutritionals. It ranks as a market leader in all of these businesses.
You also won't find many stocks with a better dividend track record. It belongs to the elite group of stocks known as Dividend Aristocrats, and has paid a dividend every quarter since 1924. And the company has increased its dividend, which currently yields close to 1.4%, for 48 consecutive years.
Abbott also offers strong growth prospects. Wall Street analysts expect the healthcare giant to increase its earnings by an average of nearly 15% annually over the next five years. The company boasts multiple growth drivers, notably including its COVID-19 diagnostic tests and Freestyle Libre continuous glucose monitoring system.
2. Brookfield Renewable
Renewable energy offers both cost and environmental advantages, and production is definitely high on the list of stable businesses. That's great news for Brookfield Renewable (NYSE: BEP) (NYSE: BEPC), one of the world's top renewable energy companies.
Brookfield operates over 5,300 power-generating facilities with 19,300 megawatts of capacity. These includes hydroelectric, wind, and solar facilities spread across four continents.
The company's commitment to its distribution program (the equivalent of a dividend program) stretches back 20 years. Since 2000, Brookfield Renewable has increased its distribution by a compounded annual growth rate of 6% and expects to grow the distribution by between 5% and 9% annually over the long term. The company's yield now stands at 3.8% for limited partnership Brookfield Renewable Partners and 3.4% for Brookfield Renewable Corporation. (The company offers two different ways of investing in the same underlying business.)
Growth shouldn't be a problem for Brookfield Renewable, with the demand for renewable energy rising. In fact, the company has an 18,000 megawatt development pipeline, which is nearly as big as the company's current capacity.
3. Pfizer
How many companies have survived and thrived for more than 170 years? I suspect very few. But Pfizer (NYSE: PFE) is one of them. The pharmaceutical company began operations in 1849. Pfizer now ranks as the biggest drugmaker in the world based on pharmaceutical revenue.
Pfizer's revenue is more diversified than most drugmakers, as it markets close to 40 key pharmaceutical products. Eight of them generated at least $1 billion in sales last year, but none contributed more than 12% of Pfizer's total revenue.
Investors seeking income have liked Pfizer for a long time. The company's dividend payout has more than doubled over the last decade, with the yield currently above 4%. The dividend payout will decline a little after the planned merger of Pfizer's Upjohn unit with Mylan closes. However, Pfizer should still offer one of the most attractive dividend yields in the healthcare sector.
The good news is that the Upjohn-Mylan merger will boost Pfizer's growth. Older drugs that have lost market share will go with Upjohn into the new entity. That will leave Pfizer with plenty of products with solid growth prospects, including blood thinner Eliquis, as well as a pipeline loaded with promising prospects, such as coronavirus vaccine candidate BNT162b2.
10 stocks we like better than Pfizer
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Keith Speights owns shares of Brookfield Renewable Inc., Brookfield Renewable Partners L.P., and Pfizer. The Motley Fool recommends Mylan. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) definitely checks off the box for stability. Wall Street analysts expect the healthcare giant to increase its earnings by an average of nearly 15% annually over the next five years. The company boasts multiple growth drivers, notably including its COVID-19 diagnostic tests and Freestyle Libre continuous glucose monitoring system. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) definitely checks off the box for stability. Brookfield Renewable Renewable energy offers both cost and environmental advantages, and production is definitely high on the list of stable businesses. See the 10 stocks *Stock Advisor returns as of August 1, 2020 Keith Speights owns shares of Brookfield Renewable Inc., Brookfield Renewable Partners L.P., and Pfizer. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) definitely checks off the box for stability. That's great news for Brookfield Renewable (NYSE: BEP) (NYSE: BEPC), one of the world's top renewable energy companies. The company's yield now stands at 3.8% for limited partnership Brookfield Renewable Partners and 3.4% for Brookfield Renewable Corporation. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) definitely checks off the box for stability. The company, founded in 1888, has grown to become one of the biggest healthcare companies in the world with nearly $32 billion in revenue last year. And the company has increased its dividend, which currently yields close to 1.4%, for 48 consecutive years. | f046ca22-daa2-497d-a191-cd697e7cda7b |
32441.0 | 2020-09-18 00:00:00 UTC | 20/20 GeneSystems Stock: Leveraging AI for More Accurate Cancer Screening | ABT | https://www.nasdaq.com/articles/20-20-genesystems-stock%3A-leveraging-ai-for-more-accurate-cancer-screening-2020-09-18 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
20/20 GeneSystems is the developer of diagnostic testing tools for cancer and other diseases. Keep in mind that this startup leverages AI (artificial intelligence) for its systems. Oh, and you can also invest in 20/20 GeneSystems stock through an equity crowdfunding campaign on SeedInvest.
Source: Shutterstock
The founder and CEO is Jonathan Cohen. During his career, the former patent attorney he has raised more than $15 million in equity capital for a variety of ventures. He has also been able to strike sales and marketing agreements with Fortune 500 companies like Johnson & Johnson (NYSE:JNJ), Abbott Laboratories (NYSE:ABT) and Ping An (the largest health insurance company in China).
Key Global Partnerships
According to the investment materials from 20/20 GeneSystems, the company believes it is the only one to launch a multi-cancer screening test that is based on AI. The result is that a patient can get early detection, which greatly increases survivability. For example, according to a wide-ranging study published in the New England Journal of Medicine, the survival rate for lung cancer was over 90% when there was early detection.
Note that 20/20 GeneSystems has its own CLIA-certified laboratory for the U.S. market. There are also partnerships in Asia, Europe and the Middle East.
OK then, here are the diagnostics that the company offers:
OneTest: This is targeted for six common types of cancers, including as for lung, colon, kidney, and ovarian. The marketing of this test started last year
PAULA’s Test: This is a diagnostic for those who have a high-risk of lung cancer due to long-term smoking.
BioCheck Suspicious Powder Screening Kit: This is a low-cost test to detect whether a powder contains biological material that could cause problems with screening. Note that BioCheck is generally used by early responders.
So what about anything for the novel coronavirus? Well, the company does have something. And yes, this should be a driver for 20/20 GeneSystems stock.
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The company’s diagnostic is called CoronaCheck, which was developed by Roche Diagnostics. It tests for two types of antibodies of the virus. So far, 20/20 GeneSystems has sold over $1.2 million of the CoronaCheck tests. The company also has plans to enhance the diagnostic by using a lateral flow stripe to enhance the effectiveness of the AI.
Bottom Line on 20/20 GeneSystems Stock
Before the crowdfunding round, the company was able to raise about $5.5 million. Consider that one of the investors was Ping An, which invested $2 million. This could mean a big opportunity for distribution of 20/20 GeneSystems’ diagnostics. Ping An has about 300 million subscribers to its mobile app.
As for the crowdfunding investment, this has been tracking nicely. So far, the company has raised over $2.4 million and there are more than 800 investors. The valuation has been set at $38.5 million.
The minimum investment is $502 per share and the equity is in the form of preferred stock (this means that investors will get first dibs on the money invested if there is a liquidity event, such as an acquisition). There are also various perks, which are based on the amount committed. For example, if you invest between $1,500 and $4,999, you will get one free OneTest for cancer and a COVID1-19 antibody test.
Despite the success, 20/20 GeneSystems certainly has notable risks. After all, this is the case with any private investing deal. For example, because of the COVID-19 pandemic, the company has not been able to pull together its financials for 2019. Next, the market for diagnostics is intensely competitive and there are large companies in the space that can devote substantial resources to new approaches. Keep in mind that 20/20 GeneSystems has only 18 employees.
In other words, before making an investment in 20/20 GeneSystems stock, its advisable to do your own analysis.
On the date of publication, Tom Taulli did not have (either directly or indirectly) any positions in any of the securities mentioned in this article.
Tom Taulli (@ttaulli) is an advisor/board member for startups and author of various books and online courses about technology, including Artificial Intelligence Basics, The Robotic Process Automation Handbook and Learn Python Super Fast. He is also the founder of WebIPO, which was one of the first platforms for public offerings during the 1990s.
Investing through equity and real estate crowdfunding or asset tokenization requires a high degree of risk tolerance. Despite what individual companies may promise, there’s always the chance of losing a portion, or the entirety, of your investment. These risks include:
1) Greater chance of failure
2) Risk of fraudulent activity
3) Lack of liquidity
4) Economic downturns
5) Dearth of investor education
Read more: Private Investing Risks
The post 20/20 GeneSystems Stock: Leveraging AI for More Accurate Cancer Screening 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. | He has also been able to strike sales and marketing agreements with Fortune 500 companies like Johnson & Johnson (NYSE:JNJ), Abbott Laboratories (NYSE:ABT) and Ping An (the largest health insurance company in China). Key Global Partnerships According to the investment materials from 20/20 GeneSystems, the company believes it is the only one to launch a multi-cancer screening test that is based on AI. OK then, here are the diagnostics that the company offers: OneTest: This is targeted for six common types of cancers, including as for lung, colon, kidney, and ovarian. | He has also been able to strike sales and marketing agreements with Fortune 500 companies like Johnson & Johnson (NYSE:JNJ), Abbott Laboratories (NYSE:ABT) and Ping An (the largest health insurance company in China). InvestorPlace - Stock Market News, Stock Advice & Trading Tips 20/20 GeneSystems is the developer of diagnostic testing tools for cancer and other diseases. Keep in mind that this startup leverages AI (artificial intelligence) for its systems. | He has also been able to strike sales and marketing agreements with Fortune 500 companies like Johnson & Johnson (NYSE:JNJ), Abbott Laboratories (NYSE:ABT) and Ping An (the largest health insurance company in China). InvestorPlace - Stock Market News, Stock Advice & Trading Tips 20/20 GeneSystems is the developer of diagnostic testing tools for cancer and other diseases. Key Global Partnerships According to the investment materials from 20/20 GeneSystems, the company believes it is the only one to launch a multi-cancer screening test that is based on AI. | He has also been able to strike sales and marketing agreements with Fortune 500 companies like Johnson & Johnson (NYSE:JNJ), Abbott Laboratories (NYSE:ABT) and Ping An (the largest health insurance company in China). Key Global Partnerships According to the investment materials from 20/20 GeneSystems, the company believes it is the only one to launch a multi-cancer screening test that is based on AI. Well, the company does have something. | c1742073-0d43-4641-8da7-720e9e6c609a |
32442.0 | 2020-09-17 00:00:00 UTC | Abbott Launches World's First Glucose Monitor for Athletes | ABT | https://www.nasdaq.com/articles/abbott-launches-worlds-first-glucose-monitor-for-athletes-2020-09-18 | nan | nan | Glucose biosensors are typically used by people with diabetes to track their blood sugar levels while avoiding traditional finger-stick tests that accomplish the same goal.
Abbott Laboratories (NYSE: ABT) has decided to adapt the technology used in its FreeStyle Libre diabetes system to help athletes monitor their glucose levels with a new device called the Libre Sense Glucose Sport Biosensor.
The biosensor, which will launch soon in eight European countries, is worn on the back of the athlete's upper arm and gives real-time glucose data available through mobile phone apps and wrist readers. The sensor can be worn for up to 14 days.
Image source: Abbott Laboratories.
In an observational study, top teams at the Tour de France used the biosensor in training to help them learn the best fueling strategies for race days.
To promote the product to athletes, Abbott is working with Supersapiens, an Atlanta-based sports technology company that has integrated the data into its app and personalized analytics. The biosensor will be available through Supersapiens' website, although Abbott notes that the collaboration with Supersapiens is nonexclusive, so the medical-device maker could strike similar deals with other athletic trainers.
Considering how many more diabetics there are relative to the number of professional athletes, the Libre Sense Glucose Sport Biosensor probably isn't going to move the revenue needle that much for the Libre line of products. Of course, longer-term, there are plenty of amateur athletes looking for the next gadget to play with during training who might be interested in trying the biosensor, especially if their favorite professional athlete uses it. Cue the endorsements.
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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) has decided to adapt the technology used in its FreeStyle Libre diabetes system to help athletes monitor their glucose levels with a new device called the Libre Sense Glucose Sport Biosensor. Glucose biosensors are typically used by people with diabetes to track their blood sugar levels while avoiding traditional finger-stick tests that accomplish the same goal. The biosensor, which will launch soon in eight European countries, is worn on the back of the athlete's upper arm and gives real-time glucose data available through mobile phone apps and wrist readers. | Abbott Laboratories (NYSE: ABT) has decided to adapt the technology used in its FreeStyle Libre diabetes system to help athletes monitor their glucose levels with a new device called the Libre Sense Glucose Sport Biosensor. Considering how many more diabetics there are relative to the number of professional athletes, the Libre Sense Glucose Sport Biosensor probably isn't going to move the revenue needle that much for the Libre line of products. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | Abbott Laboratories (NYSE: ABT) has decided to adapt the technology used in its FreeStyle Libre diabetes system to help athletes monitor their glucose levels with a new device called the Libre Sense Glucose Sport Biosensor. Considering how many more diabetics there are relative to the number of professional athletes, the Libre Sense Glucose Sport Biosensor probably isn't going to move the revenue needle that much for the Libre line of products. See the 10 stocks *Stock Advisor returns as of August 1, 2020 Brian Orelli, PhD and The Motley Fool have no position in any of the stocks mentioned. | Abbott Laboratories (NYSE: ABT) has decided to adapt the technology used in its FreeStyle Libre diabetes system to help athletes monitor their glucose levels with a new device called the Libre Sense Glucose Sport Biosensor. To promote the product to athletes, Abbott is working with Supersapiens, an Atlanta-based sports technology company that has integrated the data into its app and personalized analytics. 10 stocks we like better than Abbott Laboratories When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | d049072a-f5d8-436a-92c1-8c8aefadbb6a |
32443.0 | 2020-09-17 00:00:00 UTC | FOCUS-U.S. plans for hundreds of millions of cheap, fast COVID-19 tests | ABT | https://www.nasdaq.com/articles/focus-u.s.-plans-for-hundreds-of-millions-of-cheap-fast-covid-19-tests-2020-09-17 | nan | nan | By Carl O'Donnell
Sept 17 (Reuters) - U.S. manufacturers are sharply increasing production of cheap, fast - but less accurate - COVID-19 tests, aiming for 100 million per month by year end that will enable schools and workplaces to significantly expand testing.
Manufacturing and government sources tell Reuters that more than half a dozen so-called antigen tests will likely be authorized by the end of October. U.S. regulators in recent months have authorized antigen tests from Abbott Laboratories , Becton Dickinson & Co , Quidel Corp and LumiraDX.
When planned production of the newly authorized tests are combined with previously approved diagnostics, overall monthly U.S. testing capacity will exceed 200 million per month by year end, these sources said.
Makers of the four recently-approved antigen tests have the capacity to make around 40 million per month, but expect to more than double that by year end, according to a Reuters analysis that includes proprietary figures shared by companies.
Unlike the $100 and up molecular diagnostics currently dominating U.S. testing that must be sent to a lab and often take several days for results, antigen tests can cost as little as $5. They can be performed anywhere and produce results in minutes.
That opens the possibility of regular screening at schools and businesses of even asymptomatic people, an important tool for containing future outbreaks, experts said.
“If we could get testing to a scale where everyone you want to test can be tested quickly and cheaply with a quick turnaround time (for results), then you could screen people" before they spread the virus, said Dwayne Breining, director of labs at Northwell Health, New York state's largest hospital system.
Lab-based molecular tests are too hard to make and deploy at that level, he said.
Antigen tests detect certain proteins that are part of the virus from samples taken via nasal or throat swabs, similar to rapid tests for strep throat in a doctor’s office.
RELIABILITY CONCERNS
A lack of testing capacity and little federal coordination early in the pandemic hampered efforts to control spread of the virus that has infected more than 6 million people in the United States.
Still, regulators and health experts are concerned about antigen test reliability. They typically detect the virus around 80% to 90% of the time, below the more than 95% rate of lab-based tests. False negative results raise the likelihood that sick people could unwittingly spread COVID-19.
There is also not enough data to be certain the new tests can detect the virus when infected people are in the early, pre-symptomatic stage, potentially limiting their usefulness.
The U.S. conducted around 25 million tests in August, including lab and antigen tests, according to data from the University of Oxford. Antigen test makers and their suppliers are gearing up for a huge boost.
Tony Lemmo, chief executive of BioDot Inc, which makes dispensers of chemicals used in the tests, says he has recently received orders that would translate into some 500 million tests in the coming months.
The United States could have capacity to conduct 3 million coronavirus tests per day this month, about half of them antigen tests. That could climb to as high as 135 million monthly tests in October, a top health official told a U.S. congressional panel on Wednesday.
European diagnostics companies Roche Holding AG and Quiagen NV have said they will apply for U.S. authorization for their antigen tests.
The National Institutes of Health is working with companies on new tests that will likely add as many as another 30 million tests per month to overall capacity this year, a U.S. official told Reuters. The agency has also provided grants to help testmakers boost manufacturing capacity, including $71 million to Quidel in July.
The U.S. official, who was not authorized to speak publicly, told Reuters that getting to 100 million tests a month by year end could potentially slip by a couple of months because of production challenges.
To ramp up, companies need to hire enough skilled workers and source the paper used in the tests, called nitrocellulose, the official said.
"There's just so much required to go from zero to millions of tests," said Quidel CEO Douglas Bryant, whose company is working with large U.S. universities on daily testing of student athletes.
College football teams in the Big Ten conference will use antigen testing after announcing on Wednesday they would go ahead with games beginning next month.
Nursing homes are using Becton Dickinson’s antigen tests to screen residents and staff through a government program.
Even if testmakers succeed in scaling production, capacity will remain tight for some time, as schools, employers and others clamor for tests, executives and officials said.
Quidel has prioritized customer requests for its tests, Bryant said, with healthcare facilities and schools near the top, and industries like tourism further back in line.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ COVID-19 Global Tracker
https://graphics.reuters.com/world-coronavirus-tracker-and-maps/
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Carl O'Donnell Editing by Caroline Humer and Bill Berkrot) ((Carl.ODonnell@thomsonreuters.com; 646-223-6629;)) Keywords: HEALTH CORONAVIRUS/USA TESTING (FOCUS, PIX)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Makers of the four recently-approved antigen tests have the capacity to make around 40 million per month, but expect to more than double that by year end, according to a Reuters analysis that includes proprietary figures shared by companies. A lack of testing capacity and little federal coordination early in the pandemic hampered efforts to control spread of the virus that has infected more than 6 million people in the United States. College football teams in the Big Ten conference will use antigen testing after announcing on Wednesday they would go ahead with games beginning next month. | The United States could have capacity to conduct 3 million coronavirus tests per day this month, about half of them antigen tests. That could climb to as high as 135 million monthly tests in October, a top health official told a U.S. congressional panel on Wednesday. The agency has also provided grants to help testmakers boost manufacturing capacity, including $71 million to Quidel in July. | When planned production of the newly authorized tests are combined with previously approved diagnostics, overall monthly U.S. testing capacity will exceed 200 million per month by year end, these sources said. “If we could get testing to a scale where everyone you want to test can be tested quickly and cheaply with a quick turnaround time (for results), then you could screen people" before they spread the virus, said Dwayne Breining, director of labs at Northwell Health, New York state's largest hospital system. The National Institutes of Health is working with companies on new tests that will likely add as many as another 30 million tests per month to overall capacity this year, a U.S. official told Reuters. | Manufacturing and government sources tell Reuters that more than half a dozen so-called antigen tests will likely be authorized by the end of October. Makers of the four recently-approved antigen tests have the capacity to make around 40 million per month, but expect to more than double that by year end, according to a Reuters analysis that includes proprietary figures shared by companies. They typically detect the virus around 80% to 90% of the time, below the more than 95% rate of lab-based tests. | 7d7130cb-8ede-4e40-a027-0b8a899b77cb |
32444.0 | 2020-09-17 00:00:00 UTC | Is The Rally Over For DexCom Near $400? | ABT | https://www.nasdaq.com/articles/is-the-rally-over-for-dexcom-near-%24400-2020-09-17 | nan | nan | DexComâs stock (NASDAQ:DXCM) trades at $397 currently and it has gained 80% in value so far this year. It traded at a pre-Covid high of $302 in February, and it is currently 30% higher than that level. Also, DXCM stock has gained 87% from the low of $210 seen in March 2020, as the demand for its G6 continuous glucose monitoring device remained high, and it helped the company post a solid 34% jump in Q2 sales even in these challenging times. That said, in view of the strong rally in DXCM stock since late March, we believe that the stock has little room for growth in the near future. Our conclusion is based on our detailed analysis of DexComâs stock performance during the current crisis with that during the 2008 recession in an interactive dashboard analysis.
2020 Coronavirus Crisis
Timeline of 2020 Crisis So Far:
12/12/2019: Coronavirus cases first reported in China
1/31/2020: WHO declares a global health emergency.
2/19/2020: Signs of effective containment in China and hopes of monetary easing by major central banks helps S&P 500 reach a record high
3/23/2020: S&P 500 drops 34% from the peak level seen on Feb 19, as Covid-19 cases accelerate outside China. Doesnât help that oil prices crash in mid-March amid Saudi-led price war
Since 3/24/2020: S&P 500 recovers 49% from the lows seen on Mar 23, as the Fedâs multi-billion dollar stimulus package suppresses near-term survival anxiety and infuses liquidity into the system.
DexCom Performance During 2020 Coronavirus
DXCM stock declined from levels of around $292 in mid February (pre-crisis peak) to levels of around $210 as of March 23 (as the markets bottomed out), implying DXCM stock lost 28% from its approximate pre-crisis peak. It then rallied to levels of about $395 currently, rising by 87% since March 23. It is also up 80% from levels of $219 seen in early January.
S&P 500 Index Performance During 2020 Coronavirus/Oil Price War Crisis
The S&P 500 index declined from levels of around 3,386 in mid Feb (pre-crisis peak) to levels of around $2,237 as of Mar 23 (as the markets bottomed out), implying the index lost 34% of its value from its approximate pre-crisis peak. It then rallied to levels of about 3,341 currently, rising by 49% since Mar 23. It is also up 3% from levels of 3,231 seen in early January.
2007-08 Financial Crisis
Timeline of 2007-08 Crisis
10/1/2007: Approximate pre-crisis peak in S&P 500 index
9/1/2008 â 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08)
3/1/2009: Approximate bottoming out of S&P 500 index
1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008)
DexCom Stock Performance Over 2007-08 Financial Crisis
We see DXCM stock declined from levels of around $10 in September 2007 (pre-crisis peak) to levels of around $4 in March 2009 (as the markets bottomed out), implying DXCM stock lost 61% from its approximate pre-crisis peak. It recovered post the 2008 crisis, to levels of about $8 in early 2010, rising by 99% between March 2009 and January 2010.
S&P 500 Performance Over The 2007-08 Financial Crisis
S&P 500 Index saw a decline of 51%, falling from levels of 1,540 in September 2007 to 757 in March 2009. It then rallied to levels of 1,124, rising by about 48% between March 2009 and January 2010.
Fundamentals
How Do DexComâs Fundamentals Look In Recent Years?
DexComâs Revenues grew a stellar 4x from $0.4 billion in 2015 to $1.5 billion in 2019, primarily led by the increased adaption of its CGM devices. DexComâs CGM device â G6 â is FDA approved to make diabetes treatment decisions without a need for a finger prick. With strong growth in revenues, the company was able to expand its margins meaningfully, and it turned profitable in 2019 with earnings of $1.11 per share, compared to a loss of $0.72 in 2015.
Survival Check
Does DexCom Have A Sufficient Cash Cushion To Meet Its Obligations Through The Coronavirus Crisis?
DexComâs total debt increased from $0.3 billion in 2017 to $1.1 billion in 2019, while its total cash remained around $0.4 billion over the same period. The company also generated close to $314 million in cash from its operations, and it appears to be in a good position to weather the crisis.
CONCLUSION
Phases of COVID-19 crisis:
Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally
Late-March 2020 onward: Social distancing measures + lockdowns
April 2020: Fed stimulus suppresses near-term survival anxiety
May-June 2020:Â Recovery of demand, with gradual lifting of lockdowns â no panic anymore despite a steady increase in the number of cases
July-September 2020: Poor Q2 results for many companies, but continued improvement in demand and a decline in the number of new cases and progress with vaccine development buoy expectations
Going by the historical performance and in view of the strong rally in DexCom stock since late March, we believe that the stock has little room for growth in the near future.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Also, DXCM stock has gained 87% from the low of $210 seen in March 2020, as the demand for its G6 continuous glucose monitoring device remained high, and it helped the company post a solid 34% jump in Q2 sales even in these challenging times. 2007-08 Financial Crisis Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 â 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) DexCom Stock Performance Over 2007-08 Financial Crisis We see DXCM stock declined from levels of around $10 in September 2007 (pre-crisis peak) to levels of around $4 in March 2009 (as the markets bottomed out), implying DXCM stock lost 61% from its approximate pre-crisis peak. Phases of COVID-19 crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns â no panic anymore despite a steady increase in the number of cases July-September 2020: Poor Q2 results for many companies, but continued improvement in demand and a decline in the number of new cases and progress with vaccine development buoy expectations Going by the historical performance and in view of the strong rally in DexCom stock since late March, we believe that the stock has little room for growth in the near future. | DexCom Performance During 2020 Coronavirus DXCM stock declined from levels of around $292 in mid February (pre-crisis peak) to levels of around $210 as of March 23 (as the markets bottomed out), implying DXCM stock lost 28% from its approximate pre-crisis peak. S&P 500 Index Performance During 2020 Coronavirus/Oil Price War Crisis The S&P 500 index declined from levels of around 3,386 in mid Feb (pre-crisis peak) to levels of around $2,237 as of Mar 23 (as the markets bottomed out), implying the index lost 34% of its value from its approximate pre-crisis peak. 2007-08 Financial Crisis Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 â 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) DexCom Stock Performance Over 2007-08 Financial Crisis We see DXCM stock declined from levels of around $10 in September 2007 (pre-crisis peak) to levels of around $4 in March 2009 (as the markets bottomed out), implying DXCM stock lost 61% from its approximate pre-crisis peak. | DexCom Performance During 2020 Coronavirus DXCM stock declined from levels of around $292 in mid February (pre-crisis peak) to levels of around $210 as of March 23 (as the markets bottomed out), implying DXCM stock lost 28% from its approximate pre-crisis peak. 2007-08 Financial Crisis Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 â 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) DexCom Stock Performance Over 2007-08 Financial Crisis We see DXCM stock declined from levels of around $10 in September 2007 (pre-crisis peak) to levels of around $4 in March 2009 (as the markets bottomed out), implying DXCM stock lost 61% from its approximate pre-crisis peak. Phases of COVID-19 crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns â no panic anymore despite a steady increase in the number of cases July-September 2020: Poor Q2 results for many companies, but continued improvement in demand and a decline in the number of new cases and progress with vaccine development buoy expectations Going by the historical performance and in view of the strong rally in DexCom stock since late March, we believe that the stock has little room for growth in the near future. | DexComâs stock (NASDAQ:DXCM) trades at $397 currently and it has gained 80% in value so far this year. That said, in view of the strong rally in DXCM stock since late March, we believe that the stock has little room for growth in the near future. DexCom Performance During 2020 Coronavirus DXCM stock declined from levels of around $292 in mid February (pre-crisis peak) to levels of around $210 as of March 23 (as the markets bottomed out), implying DXCM stock lost 28% from its approximate pre-crisis peak. | c04480ad-77c3-40c0-89e7-c0e00f16bf67 |
32445.0 | 2020-09-15 00:00:00 UTC | The Key Question Surrounding XpresSpa Group Right Now | ABT | https://www.nasdaq.com/articles/the-key-question-surrounding-xpresspa-group-right-now-2020-09-15 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
In late March, XpresSpa Group (NASDAQ:XSPA) announced that it was pivoting its business to providing coronavirus testing in airports. XSPA stock rallied 127% on the news. Though the stock would give back nearly all of those gains over the following week, the rally had begun.
Source: Maridav / Shutterstock
By June, XSPA stock was on a tear. After rallying 250% in three and a half sessions, it had risen more than 20x from late March levels. That spike proved to be the peak, however, and the stock has steadily slid since. Still, at $2, the stock is up over 300% from its pre-pivot levels.
For two reasons, the rally makes some sense. First, there seems to be real need for those testing services in airports (and, of course, everywhere else). Second, XpresSpa’s old business of providing airport spas was in big trouble.
After all, any in-airport business is facing significant near-term challenges. Hudson (NYSE:HUD), a well-known operator of airport convenience stores, just agreed to sell itself for half the price at which it entered 2020. A high-touch business like airport massages would have little chance of surviving the next few years. That’s a key reason why XSPA stock plunged in March, and why the company had to execute a reverse stock split this summer.
But even with the fade from June highs, there’s still a key stumbling block for XSPA stock. It’s not at all clear what XpresSpa Group is going to do longer-term even if near-term plans succeed. That leaves the company with seemingly a short amount of time to make a still-substantial amount of money. It seems like too much to ask.
What’s the Plan?
Assume that XpresSpa is successful in creating in-airport testing stations for the novel coronavirus. Success certainly isn’t guaranteed, but the company is making progress. It’s signed deals with airports including New York City’s John F. Kennedy, a deal that sparked the June buying frenzy in its stock. And it has agreed to install rapid testing equipment from Abbott Laboratories (NYSE:ABT).
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From the time that business becomes profitable, how long does XpresSpa really have? It’s a difficult question to answer. Certainly, the coronavirus isn’t going to suddenly go away. But the environment outside airports is hardly static at the moment.
Indeed, billions of dollars are going to research and development of vaccines, treatments, and, importantly, testing. Success for any of those efforts is going to limit the value of XpresSpa’s in-airport options.
If any of the myriad firms looking to create a vaccine are successful, fewer travelers will see the need for a test. Improved treatments too would limit the sense of urgency.
But it’s better testing that seems to provide the biggest risk. If a flyer can get an at-home and/or rapid-response test from a company like OraSure Technologies (NASDAQ:OSUR), Abbott, or Sorrento Therapeutics (NASDAQ:SRNE), why exactly do they need to get tested in the airport?
Airport employees admittedly present a captive audience. But after significant dilution, XpresSpa now has a market capitalization of $125 million. It needs to create at least that amount of profit simply to support the current stock price. Airport employees at $5 or $10 a test hardly seem like enough.
The Next Move
The simple answer would be that once some level of normalcy returns, XpresSpa can go back to its previous business. More likely, it can do both.
The problem is that the previous business, simply put, was not a success. The company did manage to drive some revenue growth before the pandemic: same-store sales rose 2.9% in 2019. That’s not particularly impressive given that U.S. passenger traffic increased 4.1%.
More worrisome is the fact that XpresSpa wasn’t profitable, or close. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) loss was $3.3 million last year. That was actually modestly worse than the year-prior performance.
To be fair, the business is relatively new. But XpresSpa’s older businesses didn’t work all that well, either. A wireless charging effort failed. Before that, the company was a patent play named Vringo that lost a key case against Alphabet (NASDAQ:GOOG,NASDAQ:GOOGL).
This time has to be different. Post-Covid, it’s not clear how it will be.
The Thin Case for XSPA Stock
To own XSPA stock even after the big pullback, investors need to believe that the company can make at least $100 million off its testing efforts — or that it can find a viable business after that.
On both fronts, skepticism is warranted. By the time the testing business gets off the ground across the company’s 51 airports, significant progress hopefully will have been made in the fight against the coronavirus. And if the spa business isn’t viable, or all that valuable (and bear in mind that the company entered 2020 with a valuation of about $12 million), the company needs a new business model to create value.
It’s an open question as to what that model will be, or could be. But it’s a question investors need to answer before even considering taking a position in XSPA stock.
On the date of publication, Vince Martin did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Vince Martin has covered the financial industry for close to a decade for InvestorPlace.com and other outlets.
The post The Key Question Surrounding XpresSpa Group Right 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. | And it has agreed to install rapid testing equipment from Abbott Laboratories (NYSE:ABT). Hudson (NYSE:HUD), a well-known operator of airport convenience stores, just agreed to sell itself for half the price at which it entered 2020. 20 Election Stocks to Buy if Donald Trump Wins in 2020 From the time that business becomes profitable, how long does XpresSpa really have? | And it has agreed to install rapid testing equipment from Abbott Laboratories (NYSE:ABT). InvestorPlace - Stock Market News, Stock Advice & Trading Tips In late March, XpresSpa Group (NASDAQ:XSPA) announced that it was pivoting its business to providing coronavirus testing in airports. Assume that XpresSpa is successful in creating in-airport testing stations for the novel coronavirus. | And it has agreed to install rapid testing equipment from Abbott Laboratories (NYSE:ABT). InvestorPlace - Stock Market News, Stock Advice & Trading Tips In late March, XpresSpa Group (NASDAQ:XSPA) announced that it was pivoting its business to providing coronavirus testing in airports. The Thin Case for XSPA Stock To own XSPA stock even after the big pullback, investors need to believe that the company can make at least $100 million off its testing efforts — or that it can find a viable business after that. | And it has agreed to install rapid testing equipment from Abbott Laboratories (NYSE:ABT). InvestorPlace - Stock Market News, Stock Advice & Trading Tips In late March, XpresSpa Group (NASDAQ:XSPA) announced that it was pivoting its business to providing coronavirus testing in airports. Airport employees at $5 or $10 a test hardly seem like enough. | 3734ca78-8bb9-41d1-8962-2ff967f31980 |
32446.0 | 2020-09-15 00:00:00 UTC | How Does Illumina Stock Performance In 2020 Compare With That During 2008 Crisis? | ABT | https://www.nasdaq.com/articles/how-does-illumina-stock-performance-in-2020-compare-with-that-during-2008-crisis-2020-09 | nan | nan | Illumina (NASDAQ:ILMN), best known for its genetic variation and biological function systems, has rallied 46% since late March (vs. about 55% for the S&P 500) to its current level around $347. The stock fell to a low of $238 in late March when a rapid increase in the number Covid-19 cases outside China resulted in heightened fears of an imminent global economic downturn. The stock is now 15% above the $303 levels it reached in mid-February. Are the gains warranted? We largely think that they are, and we believe that the stock is likely to continue to see higher levels in the coming quarters, as demand for Covid testing remains high, and its consumables segment sales will likely trend higher. Our conclusion is based on the developments around the companyâs business. We also compare Illumina stock performance during the current crisis with that during the 2008 recession in an interactive dashboard analysis.
How Did ILMN Stock Fare During The 2008 Downturn?
We see ILMN stock gained from levels of around $26 in October 2007 (the pre-crisis peak for the markets) to roughly $43 in September 2008 (the pre-crisis peak for the stock), and it then declined to $31 levels (as the markets bottomed out) â implying that the stock lost as much as 28% of its value from its approximate pre-crisis peak. This marked a drop lower than the broader S&P, which fell by about 38% over the same period (Sep 2008 to Mar 2009).
However, Illumina failed to stage any recovery post the 2008 crisis, with the stock staying at $31 level in early 2010 â remaining down 27% from the pre-crisis peak. In comparison, the S&P fared much better with its losses from the September 2009 levels standing at about 8%.
Is The Recovery Warranted & Can We Expect Further Gains?
The rally across industries over recent months can primarily be attributed to the Fed stimulus which largely put investor concerns about the near-term survival of companies to rest. The flattening of Covid cases in badly hit U.S. and European cities is also giving investors confidence that developed countries have put the worst of the pandemic behind them.
Illumina has two positives to look forward to. Firstly, the U.S. FDA granted an emergency use authorization (EUA) for its COVIDSeq, a next generation sequencing based testing for coronavirus. COVIDSeq uses nasopharyngeal or oropharyngeal swabs, to deliver results in 24 hours using the NovaSeq 6000 Sequencing System. The Illumina test is different from other tests, as its design includes 98 amplicons that target the full SARS-CoV-2 genome, resulting in accurate detection and high sensitivity. This is important given the rise in cases in the U.S. The company has enhanced its production and its installed base is on the rise. Secondly, the company has recently acquired BlueBee, which provides genomics data analysis solutions. The acquisition appears to be positive for the company, as it can help better analyze the data from Illuminaâs systems.
Thus far in 2020, Illumina has seen an 11% decline in revenues, primarily due to a 30% decline in instruments revenue, while the consumables segment fared better with only 6% decline in sales. A decline in sales for many companies is imminent in 2020 given the impact of the pandemic. Illuminaâs earnings fell 58% to $1.49 per share for the six months period ending June, compared to $3.56 in the prior year period. The earnings decline was steeper than revenues, due to a contraction in margins, given the lower sales, but fixed costs remaining the same. Looking forward, with the gradual easing of lockdowns and healthcare institutions attending to deferred procedures, sales for Illumina will likely increase aiding both the revenues and margins in the near term.
What if youâre looking for a more balanced portfolio instead? Hereâs a top quality portfolio to outperform the market, with over 100% return since 2016, versus 55% for the S&P 500. Comprised of companies with strong revenue growth, healthy profits, lots of cash, and low risk. It has outperformed the broader market year after year, consistently.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The stock fell to a low of $238 in late March when a rapid increase in the number Covid-19 cases outside China resulted in heightened fears of an imminent global economic downturn. The rally across industries over recent months can primarily be attributed to the Fed stimulus which largely put investor concerns about the near-term survival of companies to rest. Looking forward, with the gradual easing of lockdowns and healthcare institutions attending to deferred procedures, sales for Illumina will likely increase aiding both the revenues and margins in the near term. | We largely think that they are, and we believe that the stock is likely to continue to see higher levels in the coming quarters, as demand for Covid testing remains high, and its consumables segment sales will likely trend higher. We see ILMN stock gained from levels of around $26 in October 2007 (the pre-crisis peak for the markets) to roughly $43 in September 2008 (the pre-crisis peak for the stock), and it then declined to $31 levels (as the markets bottomed out) â implying that the stock lost as much as 28% of its value from its approximate pre-crisis peak. Thus far in 2020, Illumina has seen an 11% decline in revenues, primarily due to a 30% decline in instruments revenue, while the consumables segment fared better with only 6% decline in sales. | We largely think that they are, and we believe that the stock is likely to continue to see higher levels in the coming quarters, as demand for Covid testing remains high, and its consumables segment sales will likely trend higher. We see ILMN stock gained from levels of around $26 in October 2007 (the pre-crisis peak for the markets) to roughly $43 in September 2008 (the pre-crisis peak for the stock), and it then declined to $31 levels (as the markets bottomed out) â implying that the stock lost as much as 28% of its value from its approximate pre-crisis peak. Thus far in 2020, Illumina has seen an 11% decline in revenues, primarily due to a 30% decline in instruments revenue, while the consumables segment fared better with only 6% decline in sales. | How Did ILMN Stock Fare During The 2008 Downturn? The flattening of Covid cases in badly hit U.S. and European cities is also giving investors confidence that developed countries have put the worst of the pandemic behind them. Thus far in 2020, Illumina has seen an 11% decline in revenues, primarily due to a 30% decline in instruments revenue, while the consumables segment fared better with only 6% decline in sales. | f119edae-dcf9-46d5-80ad-374e07387f84 |
32447.0 | 2020-09-14 00:00:00 UTC | Thermo Fisher Is a Buy Despite Recent Setbacks | ABT | https://www.nasdaq.com/articles/thermo-fisher-is-a-buy-despite-recent-setbacks-2020-09-14 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Thermo Fisher (NYSE:TMO) stock is one of those champion holdings that many investors don’t know about. However, for people fortunate enough to buy TMO stock previously, it’s been a great ride.
Source: Maksim Shmeljov / Shutterstock.com
Over the past 10 years, Thermo Fisher is up a cool 810%. It’s been a smooth journey as well. The company has consistently grown earnings over that stretch, and has had a steadily rising stock chart to go with it.
So why isn’t Thermo Fisher more well known? The company operates some under-the-radar businesses. Its primary businesses include things such as laboratory equipment, instrument systems, chemicals, and related software. Not glamorous stuff. However, it’s vital. Thermo Fisher provides tools that the world’s top researchers use to advance the frontiers of medicine. And, for shareholders, it’s been an extremely profitable partnership. However, shares have been volatile in recent weeks for two primary reasons. Here’s why.
Covid-19 Testing
The first of these, not surprisingly, is novel coronavirus testing. Given that Thermo Fisher is one of the top testing companies worldwide, it’s only natural that the company got into the testing market for this ailment as well. The thing is that it doesn’t really matter to a company of Thermo Fisher’s size what they generate off any one short-term event like this.
TMO stock sold off two weeks ago on news that Abbott (NYSE:ABT) got its rapid Covid-19 test approved, and the federal government will buy those instead. In fact, the government will buy 150 million tests from Abbott, but they’re only paying $5 for each test. So that’s $750 million of revenue going to Abbott, and probably at a small profit margin.
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Yet Abbott’s stock spiked 10% initially on the news, adding $18 billion in market capitalization for a $750 million order that won’t recur too frequently – the Covid-19 vaccines are coming soon after all. Similarly, Thermo Fisher and other testing companies tanked, even though the amount of Covid-19 revenue they would have generated would have been immaterial to the overall size of the companies in play.
If you’re a tiny biotech company, every dollar of revenues matters. But for Thermo Fisher, this was small potatoes compared to the normal recurring revenue streams that it has been building for decades. Investors shouldn’t lose any sleep over Thermo Fisher losing this deal to Abbott.
Qiagen: Deal or No Deal?
The second matter is Thermo Fisher’s proposed acquisition of Qiagen (NYSE:QGEN). While Qiagen is listed on the New York Stock Exchange, it’s a foreign company, and its primary listing is in Europe. Thus, Thermo Fisher was prepared to offer 39 Euros per share for the company.
This would have been a huge deal. Thermo Fisher was prepared to shell out $11.5 billion for Qiagen. Qiagen is a leading diagnostics company. In 2019, Qiagen did more than $1.5 billion of revenue. Thus, this would have made a big impact for Thermo Fisher (many multiples of the potential upside from Covid-19 testing). And likely TMO stock ran to a degree as it seemed like Thermo Fisher was buying Qiagen out cheap.
Alas, it didn’t pan out. Qiagen’s shareholders voted down the proposed merger, saying the offer was too low. With Qiagen’s European shares now trading in the low-to-mid 40 Euros range, that seems like it was the right decision. Thermo Fisher made a bold bid trying to snag Qiagen up at a bargain, but it didn’t pan out.
Valuation, Not Covid-19, Is the Real Sticking Point
As is usually the case with Thermo Fisher, the real problem here isn’t short-term business matters such as the Covid-19 tests, rather it’s valuation. TMO stock is expensive. And it’s almost always that way, meaning that the only way to ever own it is to pay a high price for it.
Over the past four years, Thermo Fisher has traded between a 30x and 48x price-earnings ratio, with it recently hitting that 48x level before the news-driven stock price decline of late. As early as 2014, the stock traded for 33x earnings, and you’d have to go back to the Financial Crisis to find the last time you could buy TMO stock at less than 20x earnings. All that to say that if you want to own the stock, don’t count on it dropping to a “normal” P/E ratio.
You might say who cares that it sells at 44x trailing earnings, the market loves growth stocks. And that’s true. However, Thermo Fisher is not a hyper-growth stock either; this isn’t a pure software company. Over the last five years, Thermo Fisher has grown revenue at 9% per year. That’s solid, but it’s not usually the sort of thing you slap a 44x P/E ratio on. However, it has a better forward P/E ratio, currently in the high 20s, as long as you accept non-GAAP figures.
TMO Stock Verdict
All this leads up to my takeaway. If you are a long-term investor, and you want to buy the world’s highest-quality companies and hold on for many years, Thermo Fisher should certainly be on your shortlist. This is a phenomenal company, and there are all sorts of long-term tailwinds to power this thing higher for many years or even decades to come. If you are going to buy and hold, TMO stock is a great pick.
However, the valuation here is really a stretch. I love the business model, and I fully intend to be a long-term shareholder of Thermo Fisher. However, I really struggle to pay this high a P/E for something that grows at a single-digit growth rate. You’ll eventually do well, assuming you hold long enough, but the next few years could be bumpy as Thermo Fisher grows into its outsized valuation.
As such, if you’re a patient investor and don’t mind paying up for a primo stock, Thermo Fisher is a decent buy even now. For most people, however, this is one to have at the top of your watchlist. With any luck, TMO stock might slide a quick 10% or 15% if this tech sell-off gets going again in coming weeks. That’d be the time to start buying into this fantastic company.
On the date of publication, Ian Bezek did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek.
The post Thermo Fisher Is a Buy Despite Recent Setbacks 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. | TMO stock sold off two weeks ago on news that Abbott (NYSE:ABT) got its rapid Covid-19 test approved, and the federal government will buy those instead. Over the past four years, Thermo Fisher has traded between a 30x and 48x price-earnings ratio, with it recently hitting that 48x level before the news-driven stock price decline of late. You’ll eventually do well, assuming you hold long enough, but the next few years could be bumpy as Thermo Fisher grows into its outsized valuation. | TMO stock sold off two weeks ago on news that Abbott (NYSE:ABT) got its rapid Covid-19 test approved, and the federal government will buy those instead. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Thermo Fisher (NYSE:TMO) stock is one of those champion holdings that many investors don’t know about. Valuation, Not Covid-19, Is the Real Sticking Point As is usually the case with Thermo Fisher, the real problem here isn’t short-term business matters such as the Covid-19 tests, rather it’s valuation. | TMO stock sold off two weeks ago on news that Abbott (NYSE:ABT) got its rapid Covid-19 test approved, and the federal government will buy those instead. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Thermo Fisher (NYSE:TMO) stock is one of those champion holdings that many investors don’t know about. Given that Thermo Fisher is one of the top testing companies worldwide, it’s only natural that the company got into the testing market for this ailment as well. | TMO stock sold off two weeks ago on news that Abbott (NYSE:ABT) got its rapid Covid-19 test approved, and the federal government will buy those instead. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Thermo Fisher (NYSE:TMO) stock is one of those champion holdings that many investors don’t know about. Over the last five years, Thermo Fisher has grown revenue at 9% per year. | 22643fb1-bd16-4e4e-b1e7-e137a3d37916 |
32448.0 | 2020-09-14 00:00:00 UTC | Intuitive Surgical Stock Headed To $1,000 Levels? | ABT | https://www.nasdaq.com/articles/intuitive-surgical-stock-headed-to-%241000-levels-2020-09-14 | nan | nan | Intuitive Surgical (NASDAQ:ISRG), a fast growing medical devices company with a market capitalization of $84 billion, has seen its stock rise by 20% this year, outperforming the broader indices, with the S&P 500 up 4%. The stock now trades at over 72x projected 2020 earnings, despite the fact that the company will post a decline in earnings this year. Does this make the stock expensive? We donât think so, considering that revenues could grow over 50% by 2023, while earnings growth is expected to be over 90% over the same period, generating strong returns for shareholders. Hereâs how this is possible.
For more details on Intuitive Surgicalâs historical performance, see our interactive dashboard What Factors Drove Intuitive Surgical stock up 97% Since The End Of 2017
Intuitive Surgicalâs Revenues could grow 50% from the estimated $4.3 billion in 2020 to around $6.7 billion by 2023, representing a growth rate of roughly 16% per year (for context annual growth was about 18% between 2016 and 2019). There are multiple trends that support this continued growth. Firstly, we believe that the deferred elective surgeries due to the Covid-19 pandemic in Q1 and Q2 that is impacting Intuitive Surgicalâs sales in 2020, will eventually be attended to. It is not that someone who is advised to have a surgery will decide not to take it. With economies opening up gradually, already several healthcare institutions have started addressing elective surgeries. Intuitive Surgical makes robotic platforms and associated instruments and accessories for different types of procedures. The company has seen steady expansion of its installed base from less than 4,000 units in 2016 to over 5,500 units in 2019, and it will likely be north of 8,000 units by 2023, with patients and physicians opting for robotic surgeries over traditional surgery over the coming years. This can be attributed to benefits associated with robotic assisted procedures, including less blood loss, fewer scars compared to traditional surgery, and faster recovery.
While Intuitive Surgical will likely post a decline in earnings this year, the company could see strong earnings growth over 2020-2023, as the companyâs past investments in R&D and product development start paying off, along with continued expansion of its installed base. The company has been able to improve its Net Margins from 28% in 2014 to 34% in 2019. While we do expect a hit on margins in 2020, the margins will likely rebound to 34% levels by 2023 or sooner, and continue to expand over the coming years. In fact, Intuitive Surgicalâs Net Margins are better than some of its peers, such as Abbott with margins of 18% in 2019, Boston Scientificâs 21%, and Medtronicâs 21%. Considering our revenue projections of roughly $6.7 billion and 34% margins, $19.00 in Adjusted EPS is likely possible by 2023, as compared to the projected $10.00 in 2020.
Now, if Intuitive Surgicalâs earnings grow 90% between 2020-2023, the P/E multiple will shrink to 38x from its current level, assuming the stock price stays the same, correct? But thatâs what Intuitive Surgicalâs investors are betting will not happen! If earnings expand 90% over the next few years, instead of the P/E shrinking from around 72x presently (based on expected 2020 earnings) to about 38x, a scenario where the P/E metric falls more modestly, perhaps to about 55x, looks more likely. For context, Intuitive Surgical has seen a steady growth in P/E multiple from 40x in 2017 to 46x in 2019, given the increased adoption of robotic surgery, a trend which is likely to continue over the coming years. This would make growth in Intuitive Surgicalâs stock price by over 45%, to around $1,050 levels, likely over the next three 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. | Intuitive Surgical (NASDAQ:ISRG), a fast growing medical devices company with a market capitalization of $84 billion, has seen its stock rise by 20% this year, outperforming the broader indices, with the S&P 500 up 4%. This can be attributed to benefits associated with robotic assisted procedures, including less blood loss, fewer scars compared to traditional surgery, and faster recovery. For context, Intuitive Surgical has seen a steady growth in P/E multiple from 40x in 2017 to 46x in 2019, given the increased adoption of robotic surgery, a trend which is likely to continue over the coming years. | Intuitive Surgical (NASDAQ:ISRG), a fast growing medical devices company with a market capitalization of $84 billion, has seen its stock rise by 20% this year, outperforming the broader indices, with the S&P 500 up 4%. While Intuitive Surgical will likely post a decline in earnings this year, the company could see strong earnings growth over 2020-2023, as the companyâs past investments in R&D and product development start paying off, along with continued expansion of its installed base. This would make growth in Intuitive Surgicalâs stock price by over 45%, to around $1,050 levels, likely over the next three years. | For more details on Intuitive Surgicalâs historical performance, see our interactive dashboard What Factors Drove Intuitive Surgical stock up 97% Since The End Of 2017 Intuitive Surgicalâs Revenues could grow 50% from the estimated $4.3 billion in 2020 to around $6.7 billion by 2023, representing a growth rate of roughly 16% per year (for context annual growth was about 18% between 2016 and 2019). While Intuitive Surgical will likely post a decline in earnings this year, the company could see strong earnings growth over 2020-2023, as the companyâs past investments in R&D and product development start paying off, along with continued expansion of its installed base. For context, Intuitive Surgical has seen a steady growth in P/E multiple from 40x in 2017 to 46x in 2019, given the increased adoption of robotic surgery, a trend which is likely to continue over the coming years. | We donât think so, considering that revenues could grow over 50% by 2023, while earnings growth is expected to be over 90% over the same period, generating strong returns for shareholders. While Intuitive Surgical will likely post a decline in earnings this year, the company could see strong earnings growth over 2020-2023, as the companyâs past investments in R&D and product development start paying off, along with continued expansion of its installed base. This would make growth in Intuitive Surgicalâs stock price by over 45%, to around $1,050 levels, likely over the next three years. | 08c65bc4-3c85-4b82-94f8-afb6fda5d2b1 |
32449.0 | 2020-09-13 00:00:00 UTC | 3 Rock-Solid Dividend Stocks That You Can Buy and Hold Forever | ABT | https://www.nasdaq.com/articles/3-rock-solid-dividend-stocks-that-you-can-buy-and-hold-forever-2020-09-13 | nan | nan | Some people like the excitement of buying and selling frequently. They're always looking for the next hot growth stock in the latest arena generating the most buzz. But that's not every investor's cup of tea.
There are a lot of investors who simply want to find stocks that pay great dividends quarter in and quarter out. They want to invest in the kinds of stocks that you can leave alone for years -- decades even -- while they steadily make money. If you're this kind of investor, here are three rock-solid dividend stocks that you can buy and hold practically forever.
Image source: Getty Images.
1. Abbott Laboratories
Abbott Laboratories (NYSE: ABT) pretty much has it all. For starters, the healthcare giant is a Dividend Aristocrat with 48 consecutive years of dividend increases. Abbott has paid a dividend every quarter since 1924. Its dividend yield currently stands at 1.4%. That's not a spectacular level, but you can feel pretty good about the prospects of the dividend payments continuing to grow over time.
One big plus for Abbott is its diversification. The company is a market leader in branded generic medications, cardiovascular care, diabetes care, diagnostics, neuromodulation care, and nutritional products. This wide range of product offerings generated nearly $32 billion in revenue last year and profits of close to $3.7 billion.
Don't think for a second that Abbott is a boring, low-growth kind of dividend stock, though. Wall Street analysts project the company will deliver average annual earnings growth of nearly 15% over the next five years. Abbott's wildly successful Freestyle Libre continuous glucose monitoring system and its new COVID-19 diagnostics tests are just two of the company's major growth drivers.
2. Brookfield Renewable
Brookfield Renewable (NYSE: BEP) (NYSE: BEPC) told its investors in 2019, "We are one of the few future-proof stocks today." That statement was defensible then and still is now. The company owns over 5,300 renewable energy assets that should enjoy sustained and increasing demand.
You can own part of Brookfield Renewable in two ways -- Brookfield Renewable Partners (a limited partnership) and Brookfield Renewable Corporation (a traditional corporate structure). Their underlying business is the same, and both entities pay the same dividend amount (referred to as a distribution because of the company's roots as a limited partnership). However, because of share price differences, Brookfield Renewable Partners' distribution yields 3.9% while Brookfield Renewable Corporation's distribution yields nearly 3.5%.
The good news is that the dividends for both Brookfield Renewable stocks should continue to grow. The company targets long-term distribution growth between 5% and 9% per year. Its average distribution increase since 2000 is 6%.
3. Duke Energy
Duke Energy (NYSE: DUK) is another utility stock that's a great pick to buy and hold. It also offers an attractive dividend yield of nearly 4.8%. Duke's dividend program has a fantastic track record, with the company paying a dividend for 94 consecutive years.
Granted, Duke Energy won't deliver the kind of growth that some stocks will. But CEO Lynn Good reiterated in the company's Q2 conference call that Duke should achieve its goal of generating long-term earnings-per-share growth between 4% and 6%. That's not too shabby for a major utility company.
More importantly, Duke Energy should provide the kind of stability that income-seeking investors like. That's the benefit of investing in a company that enjoys monopolies in its target markets and derives 95% of its earnings from those regulated markets.
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Keith Speights owns shares of Brookfield Renewable Inc. and Brookfield Renewable Partners L.P. The Motley Fool recommends Duke Energy. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) pretty much has it all. Abbott's wildly successful Freestyle Libre continuous glucose monitoring system and its new COVID-19 diagnostics tests are just two of the company's major growth drivers. Their underlying business is the same, and both entities pay the same dividend amount (referred to as a distribution because of the company's roots as a limited partnership). | Abbott Laboratories Abbott Laboratories (NYSE: ABT) pretty much has it all. You can own part of Brookfield Renewable in two ways -- Brookfield Renewable Partners (a limited partnership) and Brookfield Renewable Corporation (a traditional corporate structure). However, because of share price differences, Brookfield Renewable Partners' distribution yields 3.9% while Brookfield Renewable Corporation's distribution yields nearly 3.5%. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) pretty much has it all. Brookfield Renewable Brookfield Renewable (NYSE: BEP) (NYSE: BEPC) told its investors in 2019, "We are one of the few future-proof stocks today." Duke's dividend program has a fantastic track record, with the company paying a dividend for 94 consecutive years. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) pretty much has it all. If you're this kind of investor, here are three rock-solid dividend stocks that you can buy and hold practically forever. Don't think for a second that Abbott is a boring, low-growth kind of dividend stock, though. | 5654606f-7c2a-4b3f-846e-31c16786e5fc |
32450.0 | 2020-09-11 00:00:00 UTC | Dividend Aristocrat AbbVie Declares Its Latest Payout; Yield Is 5.3% | ABT | https://www.nasdaq.com/articles/dividend-aristocrat-abbvie-declares-its-latest-payout-yield-is-5.3-2020-09-12 | nan | nan | One of the top dividend stocks in the healthcare sector is getting ready to hand out some cash to shareholders yet again. AbbVie (NYSE: ABBV) announced Friday that its board of directors has declared a fresh quarterly dividend of $1.18 per share.
This is to be distributed on Nov. 16 to investors of record as of Oct. 15. On Friday's closing share price, it would yield just under 5.3%. That's generous relative to the overall healthcare industry, in which dividends tend to be the exception rather than the rule. It also compares favorably to the yields of many blue chip stocks favored by dividend stock investors.
Image source: Getty Images.
AbbVie has been a steady dividend payer and lifter since it was spun off from Abbott Laboratories (NYSE: ABT) in 2013. Since Abbott is a Dividend Aristocrat (an S&P 500 index component that has increased its payout at least once every year for a minimum of 25 consecutive years), AbbVie is considered one too. Abbott has consistently lifted dividends for almost 50 years.
AbbVie last raised its payout in November 2019 with a 10% hike. As its declarations are made quarterly, we can assume its next announcement will also herald an increase.
Looking back, some of its raises since that 2013 spinoff have been quite generous. All told, dividend stock aficionados have done well with the company; from spinoff until the present, the payout has nearly tripled from $0.40 per share to the current amount.
On Friday, AbbVie shares traded essentially sideways, more or less in step with the development of the wider stock market.
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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 has been a steady dividend payer and lifter since it was spun off from Abbott Laboratories (NYSE: ABT) in 2013. AbbVie (NYSE: ABBV) announced Friday that its board of directors has declared a fresh quarterly dividend of $1.18 per share. All told, dividend stock aficionados have done well with the company; from spinoff until the present, the payout has nearly tripled from $0.40 per share to the current amount. | AbbVie has been a steady dividend payer and lifter since it was spun off from Abbott Laboratories (NYSE: ABT) in 2013. AbbVie (NYSE: ABBV) announced Friday that its board of directors has declared a fresh quarterly dividend of $1.18 per share. It also compares favorably to the yields of many blue chip stocks favored by dividend stock investors. | AbbVie has been a steady dividend payer and lifter since it was spun off from Abbott Laboratories (NYSE: ABT) in 2013. It also compares favorably to the yields of many blue chip stocks favored by dividend stock investors. 10 stocks we like better than AbbVie When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | AbbVie has been a steady dividend payer and lifter since it was spun off from Abbott Laboratories (NYSE: ABT) in 2013. AbbVie (NYSE: ABBV) announced Friday that its board of directors has declared a fresh quarterly dividend of $1.18 per share. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | d1c6df25-a3cc-41da-b327-9f85113e1ad9 |
32451.0 | 2020-09-11 00:00:00 UTC | 2 Top Dividend Stocks to Buy in a Stock Market Crash | ABT | https://www.nasdaq.com/articles/2-top-dividend-stocks-to-buy-in-a-stock-market-crash-2020-09-11 | nan | nan | Over the past six months, the stock market and overall economy have seemed to be on completely different pages. Despite a high unemployment rate and grim economic outlook, stocks have rallied since March 23, with the S&P 500 gaining more than 40% over this period. The rise doesn't mean that volatility is a thing of the past, however. On Thursday, Sept. 3, the S&P 500 fell by 3.51%, its worst daily performance since Jun. 11. That day alone shows that the market isn't simply destined to go up from here.
Could the stock market dip into bear territory again soon? No one knows for sure, but if it does, panicking is precisely the wrong thing to do. Instead, investors should take the opportunity to buy shares of great companies for a discount. Companies within the pharmaceutical and biotech industries are especially worth considering during a market downturn, because many drug products and medical services can maintain consistent demand throughout the ordeal. These companies may face some headwinds in a recession, but they are likely to emerge in one piece. It is even better if these are great dividend stocks, which can provide a reliable stream of income.
In that spirit, here are two top dividend stocks in the pharma sector you can buy on the dip and hold with confidence when another downturn comes: AbbVie (NYSE: ABBV) and Amgen (NASDAQ: AMGN).
ABBV data by YCharts
1. AbbVie
Income-seeking investors want assurance that a company won't suspend its payouts -- even during a recession. AbbVie's long track record of sustained dividend increases presents strong evidence of its ability to weather any economic storm. AbbVie has raised its payouts by 195% since 2013 when it split from parent company Abbott Laboratories. Including the time it spent as a division of Abbott, AbbVie is a Dividend Aristocrat -- it has consecutively raised its dividends for at least 25 years.
Could this stellar record continue? I believe so, and here's why. AbbVie still has what it takes to generate healthy revenue and earnings growth. Sure, the company's blockbuster drug Humira continues to lose steam due to competition from biosimilars. But the rheumatoid arthritis (RA) treatment will remain one of the top-selling products in the world at least through 2024, according to the research firm Evaluate Pharma. What's more, thanks to the AbbVie's May 8 acquisition of Allergan in a cash and stock transaction valued at $63 billion, Humira is now less critical to its overall revenue growth. From the day of the acquisition's closing to the end of AbbVie's second quarter on June 30, Allergan's products had already contributed $2 billion in net revenue.
AbbVie has other products whose sales it can count on too. There is plaque psoriasis treatment Skyrizi, whose revenue during the second quarter was $330 million, more than doubling compared to the prior-year quarter. It also boasts oncological drugs Venclexta and Imbruvica. During the second quarter, the combined revenue from these cancer products was about $1.6 billion, a 25.5% year-over-year increase.
Image source: Getty Images.
Lastly, there is the crown jewel of AbbVie's acquisition of Allergan: Botox. During the second quarter, revenue from Botox Cosmetic was $226 million, a 43.1% decrease, while revenue from Botox Therapeutics rang in at $297 million, dropping by 22.3% year over year. These declines were due to the impact of stay-at-home orders and social distancing guidelines, which have kept many patients out of doctors offices since the spring. Once the crisis subsides, however, AbbVie expects Botox to rebound, annually generating $1 billion in sales. AbbVie also has over two dozen ongoing clinical trials, which will help the company add new sources of revenue in the future.
AbbVie's current dividend yield is 5.11%, compared to an average of 1.71% for the S&P 500, and the company boasts a conservative cash payout ratio of 47.5%. Further, the company sports an attractive 8.71 forward price to earnings (P/E) ratio. With a strong lineup, solid pipeline, stellar dividend history, juicy yield, and a conservative payout ratio, dividend-seeking investors would do well to buy shares of AbbVie, especially if they become cheaper because of a market crash.
2. Amgen
Dividend Aristocrats aren't the only stocks worth considering for income-seeking investors. Amgen may not be part of that exclusive class, but the company is still a solid pick. Amgen has several products that will continue boosting overall revenue growth. Psoriatic arthritis treatment Otezla is one such sales driver, which Amgen acquired from Celgene in November of last year for $13.4 billion in cash.
During the second quarter that ended on June 30, sales of this drug came in at $561 million, compared to the $493 million it recorded during the prior-year quarter. Another drug called Repatha, which is used to treat patients with high levels of cholesterol, earned second quarter sales of $200 million, 32% higher than the second quarter of the previous fiscal year.
Evenity, used to treat osteoporosis, saw sales top $101 million, compared to the $28 million it recorded during the year-ago period. These products (and others) are helping Amgen keep its revenue afloat, given that several of its other important drugs are losing steam. Sales of RA medicine Enbrel dropped by 9% year over year to $1.2 billion due to competitive threats and pricing pressure, while revenue from bone marrow stimulant Neulasta declined by 28% to $593 million due to competition from biosimilars.
Amgen's revenue for the second quarter still increased by 6% year over year to $6.2 billion, despite the impact of the ongoing pandemic. With more than 50 clinical trials underway, including more than 20 phase 3 studies, Amgen's pipeline has the potential to help the company replace the deadweights in its current lineup.
Amgen has raised its dividends by 240.4% since 2013, and currently offers a dividend yield of 2.59%, along with a cash payout ratio of 35.41%, giving the company plenty of room for more dividend increases. And while Amgen isn't as attractively priced as AbbVie -- it currently has a forward P/E ratio of 15.6 -- a market crash would present a great opportunity for income-oriented investors to scoop up shares of this healthcare giant.
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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 that spirit, here are two top dividend stocks in the pharma sector you can buy on the dip and hold with confidence when another downturn comes: AbbVie (NYSE: ABBV) and Amgen (NASDAQ: AMGN). With a strong lineup, solid pipeline, stellar dividend history, juicy yield, and a conservative payout ratio, dividend-seeking investors would do well to buy shares of AbbVie, especially if they become cheaper because of a market crash. And while Amgen isn't as attractively priced as AbbVie -- it currently has a forward P/E ratio of 15.6 -- a market crash would present a great opportunity for income-oriented investors to scoop up shares of this healthcare giant. | Sure, the company's blockbuster drug Humira continues to lose steam due to competition from biosimilars. With a strong lineup, solid pipeline, stellar dividend history, juicy yield, and a conservative payout ratio, dividend-seeking investors would do well to buy shares of AbbVie, especially if they become cheaper because of a market crash. And while Amgen isn't as attractively priced as AbbVie -- it currently has a forward P/E ratio of 15.6 -- a market crash would present a great opportunity for income-oriented investors to scoop up shares of this healthcare giant. | In that spirit, here are two top dividend stocks in the pharma sector you can buy on the dip and hold with confidence when another downturn comes: AbbVie (NYSE: ABBV) and Amgen (NASDAQ: AMGN). During the second quarter, revenue from Botox Cosmetic was $226 million, a 43.1% decrease, while revenue from Botox Therapeutics rang in at $297 million, dropping by 22.3% year over year. Amgen has raised its dividends by 240.4% since 2013, and currently offers a dividend yield of 2.59%, along with a cash payout ratio of 35.41%, giving the company plenty of room for more dividend increases. | AbbVie's current dividend yield is 5.11%, compared to an average of 1.71% for the S&P 500, and the company boasts a conservative cash payout ratio of 47.5%. Amgen Dividend Aristocrats aren't the only stocks worth considering for income-seeking investors. That's right -- they think these 10 stocks are even better buys. | b12d5932-5d62-4bb4-9ad6-807682a7427a |
32452.0 | 2020-09-11 00:00:00 UTC | Quidel Stock Looks Attractive After A Healthy Correction | ABT | https://www.nasdaq.com/articles/quidel-stock-looks-attractive-after-a-healthy-correction-2020-09-11 | nan | nan | Quidel stock (NASDAQ:QDEL) has rallied 75% since late March (vs. about 53% for the S&P 500) to its current level near $154. The stock fell to a low of $88 in late March as a rapid increase in the number Covid-19 cases outside China resulted in heightened fears of an imminent global economic downturn. The stock is now 88% above the $82 levels it was trading at in mid-February, when the broader markets made a pre-crisis peak. Are the gains warranted? We largely think that they are, and we believe that the stock is likely to see significant upside from the current levels, as demand for coronavirus testing remains high, and the stock has seen a healthy correction over the recent weeks owing to increased competition. Our conclusion is based on the recent developments around the company’s business. We also compare Quidel stock performance during the current crisis with that during the 2008 recession in an interactive dashboard analysis.
How Did QDEL Stock Fare During The 2008 Downturn And Why Stock Corrected From Recent Highs?
We see QDEL stock declined from levels of around $20 in October 2007 (the pre-crisis peak) to roughly $11 in March 2009 (as the markets bottomed out) – implying that the stock lost as much as 45% of its value from its approximate pre-crisis peak. This marked a much lower drop than the broader S&P, which fell by about 51%. However, QDEL recovered post the 2008 crisis to about $14 in early 2010 – rising by 25% between March 2009 and January 2010. In comparison, the S&P bounced back by about 48% over the same period.
While the S&P fell by about 34% and rebounded by about 54% in the current crisis, QDEL stock has only moved higher gaining 7% of its value between the market peak on February 19 to the low on March 23, and it continued to rally with gains of over 240% to around $300 levels in early August. However, the stock has corrected roughly 50% from the highs seen in early August to $154 now. This can be attributed to the FDA’s approval for a similar test from Abbott, which is priced lower compared to Quidel. That said, the selling appears to be overdone, given there is likely room for multiple players to co-exist and cater to the demand for testing. More importantly, Quidel has been seeing growth in its other tests as well.
Is The Recovery Warranted And Can We Expect Further Gains?
The rally across industries over recent months can primarily be attributed to the Fed stimulus which largely put investor concerns about the near-term survival of companies to rest. The flattening of Covid cases in badly hit U.S. and European cities is also giving investor’s confidence that developed countries have put the worst of the pandemic behind them.
Quidel stock in particular has gained during the current crisis, as it secured emergency use authorization for the Sofia device to detect SARS-CoV-2. Quidel’s test is based on Antigen Fluorescent Immunoassay (FIA) for qualitative detection of nucleocapsid protein from SARS-CoV-2. The company has seen expansion of its testing and it currently manufactures 500,000 tests a week. The demand for coronavirus testing is expected to remain high over the coming years, with total global Covid-19 diagnostics market size expected to grow from $19.8 billion in 2020 to $24.5 billion in 2027. This should bode well for Quidel.
In the quarter gone by, Quidel reported a strong 86% top line growth, while it also expanded its net margins to 40%, compared to 14% in the prior year quarter. These factors combined meant its earnings grew a whopping 5x on an adjusted basis. Overall Quidel appears to be poised for strong growth over the coming years. That said, one may argue that the stock has already rallied 2x YTD despite the recent fall. However, it’s not that the gains for the company are limited to 2020. Firstly, as we discussed above, the overall testing market will likely expand over the coming years. Secondly, other than its existing tests, Quidel is currently working on multiple new tests, including Influenza A+B and SARS Antigen rapid point-of-care combination test, and Influenza A+B, SARS Antigen, and Respiratory Syncytial Virus (RSV), which are expected to drive future sales growth.
Going by consensus revenue estimates, sales are expected to jump to 130% in 2020 and another 27% in 2021. Looking at earnings, average consensus estimate of $11.99 per share in 2020 and $15.62 in 2021 is significantly higher than the $2.97 figure the company posted in 2019. QDEL stock is currently trading at just 13x its forward earnings, which appears attractive for a company looking to grow at a strong pace. For comparison, the stock traded at 25x levels as recent as late 2019, as shown in our analysis here. We thus believe that there is a significant upside for QDEL stock in the near to medium 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. | The stock fell to a low of $88 in late March as a rapid increase in the number Covid-19 cases outside China resulted in heightened fears of an imminent global economic downturn. The rally across industries over recent months can primarily be attributed to the Fed stimulus which largely put investor concerns about the near-term survival of companies to rest. The flattening of Covid cases in badly hit U.S. and European cities is also giving investor’s confidence that developed countries have put the worst of the pandemic behind them. | We largely think that they are, and we believe that the stock is likely to see significant upside from the current levels, as demand for coronavirus testing remains high, and the stock has seen a healthy correction over the recent weeks owing to increased competition. The demand for coronavirus testing is expected to remain high over the coming years, with total global Covid-19 diagnostics market size expected to grow from $19.8 billion in 2020 to $24.5 billion in 2027. Secondly, other than its existing tests, Quidel is currently working on multiple new tests, including Influenza A+B and SARS Antigen rapid point-of-care combination test, and Influenza A+B, SARS Antigen, and Respiratory Syncytial Virus (RSV), which are expected to drive future sales growth. | We largely think that they are, and we believe that the stock is likely to see significant upside from the current levels, as demand for coronavirus testing remains high, and the stock has seen a healthy correction over the recent weeks owing to increased competition. While the S&P fell by about 34% and rebounded by about 54% in the current crisis, QDEL stock has only moved higher gaining 7% of its value between the market peak on February 19 to the low on March 23, and it continued to rally with gains of over 240% to around $300 levels in early August. Secondly, other than its existing tests, Quidel is currently working on multiple new tests, including Influenza A+B and SARS Antigen rapid point-of-care combination test, and Influenza A+B, SARS Antigen, and Respiratory Syncytial Virus (RSV), which are expected to drive future sales growth. | Quidel stock (NASDAQ:QDEL) has rallied 75% since late March (vs. about 53% for the S&P 500) to its current level near $154. While the S&P fell by about 34% and rebounded by about 54% in the current crisis, QDEL stock has only moved higher gaining 7% of its value between the market peak on February 19 to the low on March 23, and it continued to rally with gains of over 240% to around $300 levels in early August. More importantly, Quidel has been seeing growth in its other tests as well. | 062130f2-6c92-485c-a1ca-973cbca08b96 |
32453.0 | 2020-09-09 00:00:00 UTC | Why Shares of These 3 Coronavirus-Test Makers Saw Big Moves in August | ABT | https://www.nasdaq.com/articles/why-shares-of-these-3-coronavirus-test-makers-saw-big-moves-in-august-2020-09-09 | nan | nan | What happened
Coronavirus-test manufacturers Becton, Dickinson (NYSE: BDX), Co-Diagnostics (NASDAQ: CODX), and Fluidigm (NASDAQ: FLDM) saw their shares move by double-digit percentages in August, according to data provided by S&P Global Market Intelligence.
Although the companies were affected by the same trends, their performances for the month were incredibly different. Shares of Becton, Dickinson (usually referred to as B-D) fell 13.7%. Co-Diagnostics' stock, though, plunged a jaw-dropping 54.6% for the month. Meanwhile, Fluidigm's shares actually rose in August, by a healthy 11.5% -- but at one point were up by more than 50% before falling sharply.
Image source: Getty Images.
So what
B-D's stock first ran into problems on Aug. 6, when the medical-device maker reported Q3 2020 earnings that disappointed the market. B-D's bread and butter is selling general medical supplies, from simple disposable items like syringes and tubes all the way up to complex diagnostic machines like the handheld Veritor testing system.
The company's Q3 earnings exceeded estimates, due largely to coronavirus-related demand for the company's COVID-19 rapid-response Veritor test, as well as sales of syringes and needles for potential vaccination campaigns. However, revenue lagged expectations, since many elective surgeries that require B-D's supplies were canceled during Q3. The company issued disappointing guidance for fiscal 2020, calling for a 14% to 16% decline in year-over-year earnings. Not only did B-D's stock drop about 8% on the news, but several other device makers' shares, including Fluidigm and Co-Diagnostics, fell between 5% and 9%.
A few days later, on Aug. 13, Co-Diagnostics posted an earnings miss of its own, causing its stock to tumble.
Then, on Aug. 25, Fluidigm announced news that sent its shares soaring (and should have easily caused it to outperform for the month): Its saliva-based coronavirus test was granted emergency use authorization (EUA) by the U.S. Food and Drug Administration (FDA). Because it uses a saliva collection as opposed to a nasal swab, Fluidigm's test -- which is run on the Fluidigm Biomark platform -- boasts high throughput of up to 6,000 test samples per day, per machine.
But the very next day, it all came crashing down, as heavyweight Abbott Laboratories (NYSE: ABT) announced that its own coronavirus test had been granted EUA by the FDA. Unlike Co-Diagnostics' test, which takes about two hours to generate a result, Abbott's is rapid-response, meaning it can generate results in about 15 minutes. Unlike B-D's and Fluidigm's tests, it is self-contained, so it doesn't require a Veritor, Biomark, or any other testing system to be used. And it's cheap: about $5 per test. Shares of B-D, Fluidigm, Co-Diagnostics, and pretty much every other coronavirus-test maker sank on the news.
Now what
Co-Diagnostics points out (rightly) that its polymerase chain reaction (PCR) test is considered the gold standard for reliability in COVID-19 testing. There will still be demand for such tests to check against rapid-response test results for potential false positives. Fluidigm, for its part, points out that its saliva test is easier to administer than nasal swab tests, like Abbott's, and is more comfortable for the patient.
B-D hasn't tried to put a positive spin on the news, but it says it should be able to produce 2 million of its own 15-minute tests per week by the end of September, and it's unlikely that Abbott will be able to meet demand for rapid-response testing by itself, meaning B-D is sure to remain a part of the testing landscape.
All three companies have healthcare businesses beyond COVID-19 tests: B-D has its massive general medical supply business; Fluidigm is invested in mass cytometry, genomics, and immune profiling; and Co-Diagnostics has developed tests for genetic traits in crops and mosquito-borne illnesses. But it was the need for coronavirus tests driving the big gains the companies' stocks experienced earlier this year.
Investors interested in these companies should evaluate their long-term prospects beyond their coronavirus tests before jumping in.
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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. | But the very next day, it all came crashing down, as heavyweight Abbott Laboratories (NYSE: ABT) announced that its own coronavirus test had been granted EUA by the FDA. B-D's bread and butter is selling general medical supplies, from simple disposable items like syringes and tubes all the way up to complex diagnostic machines like the handheld Veritor testing system. Then, on Aug. 25, Fluidigm announced news that sent its shares soaring (and should have easily caused it to outperform for the month): Its saliva-based coronavirus test was granted emergency use authorization (EUA) by the U.S. Food and Drug Administration (FDA). | But the very next day, it all came crashing down, as heavyweight Abbott Laboratories (NYSE: ABT) announced that its own coronavirus test had been granted EUA by the FDA. What happened Coronavirus-test manufacturers Becton, Dickinson (NYSE: BDX), Co-Diagnostics (NASDAQ: CODX), and Fluidigm (NASDAQ: FLDM) saw their shares move by double-digit percentages in August, according to data provided by S&P Global Market Intelligence. Because it uses a saliva collection as opposed to a nasal swab, Fluidigm's test -- which is run on the Fluidigm Biomark platform -- boasts high throughput of up to 6,000 test samples per day, per machine. | But the very next day, it all came crashing down, as heavyweight Abbott Laboratories (NYSE: ABT) announced that its own coronavirus test had been granted EUA by the FDA. Unlike B-D's and Fluidigm's tests, it is self-contained, so it doesn't require a Veritor, Biomark, or any other testing system to be used. B-D hasn't tried to put a positive spin on the news, but it says it should be able to produce 2 million of its own 15-minute tests per week by the end of September, and it's unlikely that Abbott will be able to meet demand for rapid-response testing by itself, meaning B-D is sure to remain a part of the testing landscape. | But the very next day, it all came crashing down, as heavyweight Abbott Laboratories (NYSE: ABT) announced that its own coronavirus test had been granted EUA by the FDA. So what B-D's stock first ran into problems on Aug. 6, when the medical-device maker reported Q3 2020 earnings that disappointed the market. Unlike B-D's and Fluidigm's tests, it is self-contained, so it doesn't require a Veritor, Biomark, or any other testing system to be used. | c688ce0e-f44e-4309-989d-3cc50fd44a6c |
32454.0 | 2020-09-08 00:00:00 UTC | Why Expedia Shares Gained 21% Last Month | ABT | https://www.nasdaq.com/articles/why-expedia-shares-gained-21-last-month-2020-09-08 | nan | nan | What happened
Shares of Expedia (NASDAQ: EXPE) were moving higher last month as the online travel agency got a boost from an analyst upgrade, a falling coronavirus case count, progress on the vaccine front, and data showing the economy continuing to recover.
According to data from S&P Global Market Intelligence, the stock finished the month up 21%.
As you can see from the chart below, the stock climbed steadily over the course of August.
EXPE data by YCharts
So what
Expedia shares slipped at the end of July after the company issued a dismal second-quarter earnings report. Though revenue plunged 82% during the lockdown-impacted quarter, and the company posted an adjusted net loss of $577 million, investors were willing to look past those figures as Expedia was one of several travel stocks, including Booking Holdings and TripAdvisor, that rose by double-digits during August.
Image source: Getty Images.
In fact, on August 3, Expedia got an upgrade from BTIG to buy from neutral, as analyst Jake Fuller said the post-earnings sell-off was unwarranted since the company took no impairments and is still on track to make a recovery. He also noted tailwinds from earlier cost cuts and said the stock's valuation was compelling, as it trades at 7 times his estimates for 2022 adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA.)
Expedia shares seemed to gain as coronavirus cases fell from the July peak, lifting the hopes for a recovery in the travel sector, and as the labor department reported 1.7 million new jobs added in July, adding to bullishness on the recovery. Towards the end of the month, FDA approval of a $5, 15-minute test from Abbott Labs helped lift travel and discretionary stocks.
Now what
Surprisingly, Expedia shares are only down 8% year to date despite its business having imploded during the pandemic. Unlike travel companies with high fixed costs, such as airlines and hotels, Expedia's biggest expense line item is advertising, which can easily be scaled up and down, giving the company flexibility that other travel businesses don't have.
Still, Expedia will be at the mercy of the pandemic for the foreseeable future, so investors should keep their eye on COVID-19 case counts and vaccine prospects for insight into the company's future.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What happened Shares of Expedia (NASDAQ: EXPE) were moving higher last month as the online travel agency got a boost from an analyst upgrade, a falling coronavirus case count, progress on the vaccine front, and data showing the economy continuing to recover. Though revenue plunged 82% during the lockdown-impacted quarter, and the company posted an adjusted net loss of $577 million, investors were willing to look past those figures as Expedia was one of several travel stocks, including Booking Holdings and TripAdvisor, that rose by double-digits during August. In fact, on August 3, Expedia got an upgrade from BTIG to buy from neutral, as analyst Jake Fuller said the post-earnings sell-off was unwarranted since the company took no impairments and is still on track to make a recovery. | What happened Shares of Expedia (NASDAQ: EXPE) were moving higher last month as the online travel agency got a boost from an analyst upgrade, a falling coronavirus case count, progress on the vaccine front, and data showing the economy continuing to recover. Though revenue plunged 82% during the lockdown-impacted quarter, and the company posted an adjusted net loss of $577 million, investors were willing to look past those figures as Expedia was one of several travel stocks, including Booking Holdings and TripAdvisor, that rose by double-digits during August. The Motley Fool owns shares of and recommends Booking Holdings and TripAdvisor. | Though revenue plunged 82% during the lockdown-impacted quarter, and the company posted an adjusted net loss of $577 million, investors were willing to look past those figures as Expedia was one of several travel stocks, including Booking Holdings and TripAdvisor, that rose by double-digits during August. 10 stocks we like better than Expedia 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 Jeremy Bowman has no position in any of the stocks mentioned. | What happened Shares of Expedia (NASDAQ: EXPE) were moving higher last month as the online travel agency got a boost from an analyst upgrade, a falling coronavirus case count, progress on the vaccine front, and data showing the economy continuing to recover. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. That's right -- they think these 10 stocks are even better buys. | df06a1c4-a8c7-4111-aea5-efde1cc9d6b4 |
32455.0 | 2020-09-08 00:00:00 UTC | Why These 3 Coronavirus-Related Stocks Plummeted More Than 35% in August | ABT | https://www.nasdaq.com/articles/why-these-3-coronavirus-related-stocks-plummeted-more-than-35-in-august-2020-09-08 | nan | nan | What happened
Shares of COVID-19 vaccine developer Vaxart (NASDAQ: VXRT) and coronavirus diagnostic test manufacturers Opko Health (NASDAQ: OPK) and Quidel (NASDAQ: QDEL) plunged more than 35% in August, according to data provided by S&P Global Market Intelligence.
Vaxart's shares were down 36.9%, Opko's fell 37.1%, and Quidel's dropped 37.7% for the month. Even with those big drops, however, the companies' stocks have more than doubled in price year to date. Opko's and Quidel's shares are up more than 100% so far in 2020, while Vaxart's have risen a jaw-dropping 1,300%.
Image source: Getty Images.
So what
Up until mid-July, it seemed as though any coronavirus-related healthcare stock could do no wrong, as far as the market was concerned. Vaccine developers, diagnostic test makers, and other related companies saw their shares rise -- some astronomically high. Then, the market seemed to realize that, with dozens of companies making COVID-19 tests and more than 150 vaccine candidates in various stages of development, all of the companies were unlikely to be winners.
By August, many, if not most, coronavirus-related companies were seeing their shares drop like stones. For the smaller vaccine manufacturers, this was largely due to the entry of some well-funded and experienced companies like AstraZeneca and Pfizer into the vaccine race. With such heavy hitters in play, investors were rightly nervous about whether an untested small biotech was likely to be one of the first to successfully bring a vaccine to market.
For companies that had been making coronavirus diagnostic test kits, a similar situation occurred when heavy hitter Abbott Laboratories (NYSE: ABT) announced on Aug. 26 that it had received emergency use authorization (EUA) from the FDA for a rapid COVID-19 antibody test. According to Abbott, its test would only cost about $5 and could deliver results in about 15 minutes. Worse for the makers of slower and more expensive tests -- but better for public health -- Abbott believes it can ramp up production of its tests quickly, and expects to be able to deliver 50 million tests per month by the beginning of October.
That was bad news for Opko, which offers a non-rapid response test through its BioReference Laboratories subsidiary that takes 24 to 72 hours to deliver results. However, it's even bad for Quidel, which already offers a rapid test that can deliver a result in about the same time as Abbott's new test. You see, Quidel's test requires its Sofia diagnostic testing machine, which many testing locations don't own. Abbott's test, on the other hand, is a stand-alone product, and therefore usable in a wider variety of locations.
Meanwhile, no company has yet received approval -- or even EUA -- from the FDA for a coronavirus vaccine. However, on Aug. 11, Russian president Vladimir Putin announced that Russian scientists at Moscow's Gamaleya Institute had successfully created a COVID-19 vaccine, dubbed Sputnik-V, that he was approving for widespread use. Even though the vaccine hadn't had a phase 3 clinical trial, and the Gamaleya Institute provided no scientific data from its earlier trials, shares of vaccine makers suffered. Vaxart's stock, which had hit a high point for the month, dropped 14.4% on the news.
Now what
For vaccine developers like Vaxart, the race continues. While the likelihood of any single company being the first one to bring a vaccine to market is low -- there are 33 vaccines in clinical trials around the world and more than a hundred others in various other stages of development, after all -- Vaxart is working on a vaccine tablet that's taken orally as opposed to an injected liquid. That could give it a leg up on some of its competitors as it could be self-administered.
The COVID-19 testing operations of Opko and Quidel, on the other hand, may be in serious trouble unless they can come up with a product that can match Abbott's for speed and efficacy.
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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. | For companies that had been making coronavirus diagnostic test kits, a similar situation occurred when heavy hitter Abbott Laboratories (NYSE: ABT) announced on Aug. 26 that it had received emergency use authorization (EUA) from the FDA for a rapid COVID-19 antibody test. Vaccine developers, diagnostic test makers, and other related companies saw their shares rise -- some astronomically high. With such heavy hitters in play, investors were rightly nervous about whether an untested small biotech was likely to be one of the first to successfully bring a vaccine to market. | For companies that had been making coronavirus diagnostic test kits, a similar situation occurred when heavy hitter Abbott Laboratories (NYSE: ABT) announced on Aug. 26 that it had received emergency use authorization (EUA) from the FDA for a rapid COVID-19 antibody test. What happened Shares of COVID-19 vaccine developer Vaxart (NASDAQ: VXRT) and coronavirus diagnostic test manufacturers Opko Health (NASDAQ: OPK) and Quidel (NASDAQ: QDEL) plunged more than 35% in August, according to data provided by S&P Global Market Intelligence. Vaccine developers, diagnostic test makers, and other related companies saw their shares rise -- some astronomically high. | For companies that had been making coronavirus diagnostic test kits, a similar situation occurred when heavy hitter Abbott Laboratories (NYSE: ABT) announced on Aug. 26 that it had received emergency use authorization (EUA) from the FDA for a rapid COVID-19 antibody test. What happened Shares of COVID-19 vaccine developer Vaxart (NASDAQ: VXRT) and coronavirus diagnostic test manufacturers Opko Health (NASDAQ: OPK) and Quidel (NASDAQ: QDEL) plunged more than 35% in August, according to data provided by S&P Global Market Intelligence. You see, Quidel's test requires its Sofia diagnostic testing machine, which many testing locations don't own. | For companies that had been making coronavirus diagnostic test kits, a similar situation occurred when heavy hitter Abbott Laboratories (NYSE: ABT) announced on Aug. 26 that it had received emergency use authorization (EUA) from the FDA for a rapid COVID-19 antibody test. What happened Shares of COVID-19 vaccine developer Vaxart (NASDAQ: VXRT) and coronavirus diagnostic test manufacturers Opko Health (NASDAQ: OPK) and Quidel (NASDAQ: QDEL) plunged more than 35% in August, according to data provided by S&P Global Market Intelligence. By August, many, if not most, coronavirus-related companies were seeing their shares drop like stones. | 2076c175-4863-4f37-9092-9dc135bfdaed |
32456.0 | 2020-09-08 00:00:00 UTC | Why Co-Diagnostics Stock Is Skyrocketing Today | ABT | https://www.nasdaq.com/articles/why-co-diagnostics-stock-is-skyrocketing-today-2020-09-08 | nan | nan | What happened
Shares of Co-Diagnostics (NASDAQ: CODX) were skyrocketing 35.4% higher as of 11:19 a.m. EDT on Tuesday. The big gain came after the company announced that it had entered into an agreement with Arches Research, a subsidiary of Polarity TE (NASDAQ: PTE), to expand Arches' use of Co-Diagnostics' Logix Smart COVID-19 test.
So what
No financial details of the agreement between Co-Diagnostics and Arches Research were announced. So why did Co-Diagnostics' shares jump so much higher?
Image source: Getty Images.
We could be seeing the signs of a short squeeze. As of Aug. 14, 2020, nearly 24% of Co-Diagnostics' outstanding shares were sold short. This percentage could be even higher after Abbott Laboratories announced FDA emergency use authorization in late August for its $5 COVID-19 antibody test that can deliver results within 15 minutes.
But Co-Diagnostics' announcement today underscores that its Logix Smart COVID-19 test continues to enjoy solid demand. Arches Research first began using Co-Diagnostics' COVID-19 tests earlier this year. In a statement, Co-Diagnostics CEO Dwight Egan said, "Arches has been an important customer in the ongoing battle against the coronavirus, and we expect this agreement will also create opportunities for sales of additional molecular diagnostic products in our development pipeline, including our upcoming Logix Smart Flu A/Flu B/COVID-19 test kit."
This good news could be causing some short-sellers to cover their positions in Co-Diagnostics. When that happens, it creates an environment that can lead to the kind of surge for the healthcare stock that we're seeing today.
Now what
Investors could learn more about how Co-Diagnostics' business is performing when Egan speaks at H.C. Wainwright's 22nd Annual Global Investment Conference on Sept. 14. In the meantime, any good news for the company could translate to disproportionately large moves for the stock if short-sellers head for the hills en masse.
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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. | This percentage could be even higher after Abbott Laboratories announced FDA emergency use authorization in late August for its $5 COVID-19 antibody test that can deliver results within 15 minutes. In a statement, Co-Diagnostics CEO Dwight Egan said, "Arches has been an important customer in the ongoing battle against the coronavirus, and we expect this agreement will also create opportunities for sales of additional molecular diagnostic products in our development pipeline, including our upcoming Logix Smart Flu A/Flu B/COVID-19 test kit." In the meantime, any good news for the company could translate to disproportionately large moves for the stock if short-sellers head for the hills en masse. | The big gain came after the company announced that it had entered into an agreement with Arches Research, a subsidiary of Polarity TE (NASDAQ: PTE), to expand Arches' use of Co-Diagnostics' Logix Smart COVID-19 test. But Co-Diagnostics' announcement today underscores that its Logix Smart COVID-19 test continues to enjoy solid demand. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | The big gain came after the company announced that it had entered into an agreement with Arches Research, a subsidiary of Polarity TE (NASDAQ: PTE), to expand Arches' use of Co-Diagnostics' Logix Smart COVID-19 test. 10 stocks we like better than Co-Diagnostics, Inc. See the 10 stocks *Stock Advisor returns as of August 1, 2020 Keith Speights has no position in any of the stocks mentioned. | The big gain came after the company announced that it had entered into an agreement with Arches Research, a subsidiary of Polarity TE (NASDAQ: PTE), to expand Arches' use of Co-Diagnostics' Logix Smart COVID-19 test. 10 stocks we like better than Co-Diagnostics, Inc. The Motley Fool has no position in any of the stocks mentioned. | f832f822-ee70-40e8-b581-51fee91cb4d7 |
32457.0 | 2020-09-07 00:00:00 UTC | From Target to Twitter, U.S. companies urge workers to vote | ABT | https://www.nasdaq.com/articles/from-target-to-twitter-u.s.-companies-urge-workers-to-vote-2020-09-07 | nan | nan | By Richa Naidu
Sept 7 (Reuters) - From Georgia to Wisconsin to Ohio earlier this year, voters in primary elections were stuck for hours in lines from sharply reduced polling locations. And the surge in absentee ballots due to concerns over the coronavirus pandemic overwhelmed election officials.
Heeding the stark warning ahead of Election Day on Nov. 3, U.S. companies are aiming to facilitate what is expected to be a chaotic 2020 U.S. presidential election. Twitter TWTR.N and Apple AAPL.O are giving workers paid time off to get to ballot boxes. Starbucks SBUX.O and The Gap's GPS.N Old Navy are urging staff to volunteer at local polling stations.
Nearly 800 companies including Nike NKE.N, drugmaker Abbot Laboratories ABT.N and technology company Qualcomm QCOM.O are participating in a CEO-led bipartisan activist group called Time to Vote, which encourages companies to give employees at least a few hours off to vote.
Starbucks Chief Executive Kevin Johnson said last month that people could work out with managers when they can head to polls, adding that the move is partly motivated by concerns about Black voter suppression. Starbucks is also urging its over 200,000 U.S. employees register to vote from its mobile app.
“We know that barriers exist, notably in Black and Brown communities throughout the nation, that lend to systemic racism and require greater voter access and protections,” Johnson said in an internal memo on Aug. 27. “No (employee) will have to choose between working their shift or voting on or before Election Day.”
Rules securing time off for workers to vote vary by state. In New York, workers can be paid for up to two hours to vote, but they may be required to give advance notice. In Alabama, workers get one hour of unpaid time.
“Voting is always important, but the degree of partisan polarization this year seems to be extraordinarily high. This makes the stakes of the election unusually high as well,” said Jonathan Entin, professor of political science at Case Western Reserve University.
Partisan battles over expanding mail-in voting amid the pandemic have threatened to snarl the political process where more than a third of registered voters are expected to do so by mail or vote early in person, according to a survey published in August from Democracy Fund + UCLA Nationscape project.
President Donald Trump for months has railed against voting by mail citing unfounded fraud concerns and last week encouraged supporters to vote twice, once by mail and again in person, compounding the confusion ahead of Election Day.
Nearly half of voters fear difficulties with voting in the U.S. presidential elections, according to a voter survey by Pew Research.
Companies including Tiffany & Co TIF.N, Levi Strauss LEVI.N and Walmart WMT.N have offered paid time off or flexible hours to workers.
“If any employee needs extra time to vote or work at the polls, they can simply work with their managers on creating a flexible schedule,” a spokesman for packaged food company Conagra Brands CAG.N said.
Some companies, including Kraft Heinz KHC.O and Target TGT.N, have also set up websites to guide employees on registering to vote and learning about candidates in partnership with the League of Women Voters and the National Association of Manufacturers.
Several states have warned in recent months that they may not have enough poll workers, with Maryland at one point estimating it was short 14,000 people. In response, companies including Target and The Gap have offered paid time off to volunteer as poll workers. Poll sites are expected to fall short of volunteers as older people who are more at risk to COVID-19 infection have typically staffed sites and are expected to stay home.
The two companies have joined 150 others including Amazon.com AMZN.O and Etsy ETSY.O to help sign up 350,000 new volunteers through a corporate-led campaign called the Civic Alliance. The group says on its website that its goal is to drive historic voter turnout in 2020.
ANALYSIS-Georgia's election mess offers a stark warning for November
GRAPHIC: Where Biden and Trump stand on key issueshttps://tmsnrt.rs/2BGAmNQ
FACTBOX-Key dates on the 2020 U.S. presidential election calendar
Trump encourages supporters to try to vote twice, sparking uproar
(Reporting by Richa Naidu in Chicago. Additional reporting by Melissa Fares and Helen Coster in New York, Eric Johnson in Seattle, Tracy Rucinski in Chicago; Editing by Kenneth Li and Lisa Shumaker)
((richa.naidu@tr.com; Follow me on Twitter https://twitter.com/Richa_Writes; +1 312 636 8874; Reuters Messaging: richa.naidu.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. | Nearly 800 companies including Nike NKE.N, drugmaker Abbot Laboratories ABT.N and technology company Qualcomm QCOM.O are participating in a CEO-led bipartisan activist group called Time to Vote, which encourages companies to give employees at least a few hours off to vote. By Richa Naidu Sept 7 (Reuters) - From Georgia to Wisconsin to Ohio earlier this year, voters in primary elections were stuck for hours in lines from sharply reduced polling locations. Starbucks Chief Executive Kevin Johnson said last month that people could work out with managers when they can head to polls, adding that the move is partly motivated by concerns about Black voter suppression. | Nearly 800 companies including Nike NKE.N, drugmaker Abbot Laboratories ABT.N and technology company Qualcomm QCOM.O are participating in a CEO-led bipartisan activist group called Time to Vote, which encourages companies to give employees at least a few hours off to vote. In response, companies including Target and The Gap have offered paid time off to volunteer as poll workers. ANALYSIS-Georgia's election mess offers a stark warning for November GRAPHIC: Where Biden and Trump stand on key issueshttps://tmsnrt.rs/2BGAmNQ FACTBOX-Key dates on the 2020 U.S. presidential election calendar Trump encourages supporters to try to vote twice, sparking uproar (Reporting by Richa Naidu in Chicago. | Nearly 800 companies including Nike NKE.N, drugmaker Abbot Laboratories ABT.N and technology company Qualcomm QCOM.O are participating in a CEO-led bipartisan activist group called Time to Vote, which encourages companies to give employees at least a few hours off to vote. “No (employee) will have to choose between working their shift or voting on or before Election Day.” Rules securing time off for workers to vote vary by state. President Donald Trump for months has railed against voting by mail citing unfounded fraud concerns and last week encouraged supporters to vote twice, once by mail and again in person, compounding the confusion ahead of Election Day. | Nearly 800 companies including Nike NKE.N, drugmaker Abbot Laboratories ABT.N and technology company Qualcomm QCOM.O are participating in a CEO-led bipartisan activist group called Time to Vote, which encourages companies to give employees at least a few hours off to vote. Twitter TWTR.N and Apple AAPL.O are giving workers paid time off to get to ballot boxes. Several states have warned in recent months that they may not have enough poll workers, with Maryland at one point estimating it was short 14,000 people. | 2f4d7f16-fad0-4372-be66-7b24083d6547 |
32458.0 | 2020-09-07 00:00:00 UTC | Why West Pharmaceutical Services Stock Rallied 3x While Revenues Grew Just 15%? | ABT | https://www.nasdaq.com/articles/why-west-pharmaceutical-services-stock-rallied-3x-while-revenues-grew-just-15-2020-09-07 | nan | nan | The stock price of West Pharmaceutical Services (NYSE:WST), best known for injectable pharmaceutical packaging and delivery systems, has seen a 3x growth since the end of 2017. But how did the company pull off such impressive gains, as its revenues grew just 15% between 2017 and 2019? Well, most of the stock price gains are seen in this year. Given the wide spread of Covid-19, there is a massive need for vaccine doses, and West specializes in vaccine packaging. Investors have revised their future earnings growth for the company, resulting in a significant expansion of the P/E multiple, driving the stock price higher. Our dashboard on West Pharmaceutical Services Revenues And Stock Price Change Mismatch provides the key numbers behind our thinking, and we explain more below.
What Brought About A Change In Earnings And Multiple?
Some of the 3x growth in West’s stock can also be attributed to its strong fundamentals. The company managed to expand its net margins from 9.4% to 13.1%. This change was brought about by lower cost of goods sold, research & development, and selling, general & administrative expenses, when looked at as a percentage of revenues. A lower effective tax rate also helped. The 370 bps margins expansion coupled with a 15% increase in revenues from $1.6 billion to $1.8 billion has meant that the earnings per share grew a strong 60% from about $2.04 per share in 2017 to $3.27 a share in 2019.
However, much of the growth in its stock can be attributed to over an 80% growth in the P/E multiple, which increased from 48x in 2017 to 86x currently. The multiple is being impacted primarily by the role West is expected to play in vaccines packaging. The company’s stoppers with FluroTec film are expected to reduce migration of leachables and reduce the interaction with the drug product, making it effective to use for vaccines. In fact, these stoppers are already approved by the U.S. FDA for use in over 125 drugs, including vaccines. The company’s management in its recentearnings conference callstated that FluroTec remains as the preferred choice over other products, including West’s NovaPure for vaccine packaging. The company has also increased its capex to expand the production capacity to meet the demand once vaccines are approved by the regulators. We know the demand for vaccine packaging is going to be massive, and West being the leader stands to benefit.
That said, after the large stock price move, West appears to be fully valued at the current price of around $280. Despite its vaccines packaging, the company’s earnings are estimated to be around $4.70 per share in 2021, based on average consensus, meaning WST stock is trading at a 60x P/E multiple, which appears to be high, when compared to its levels seen over the recent years, i.e. 35x in 2018 and 46x in 2019. As such, we don’t expect any significant upside for West stock from the current levels. Though the earnings could deviate meaningfully depending on the volume West can see from pharmaceutical companies, our evaluation is based on the current average consensus.
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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. | This change was brought about by lower cost of goods sold, research & development, and selling, general & administrative expenses, when looked at as a percentage of revenues. The company’s management in its recentearnings conference callstated that FluroTec remains as the preferred choice over other products, including West’s NovaPure for vaccine packaging. Despite its vaccines packaging, the company’s earnings are estimated to be around $4.70 per share in 2021, based on average consensus, meaning WST stock is trading at a 60x P/E multiple, which appears to be high, when compared to its levels seen over the recent years, i.e. 35x in 2018 and 46x in 2019. | The stock price of West Pharmaceutical Services (NYSE:WST), best known for injectable pharmaceutical packaging and delivery systems, has seen a 3x growth since the end of 2017. Our dashboard on West Pharmaceutical Services Revenues And Stock Price Change Mismatch provides the key numbers behind our thinking, and we explain more below. Despite its vaccines packaging, the company’s earnings are estimated to be around $4.70 per share in 2021, based on average consensus, meaning WST stock is trading at a 60x P/E multiple, which appears to be high, when compared to its levels seen over the recent years, i.e. 35x in 2018 and 46x in 2019. | The stock price of West Pharmaceutical Services (NYSE:WST), best known for injectable pharmaceutical packaging and delivery systems, has seen a 3x growth since the end of 2017. Investors have revised their future earnings growth for the company, resulting in a significant expansion of the P/E multiple, driving the stock price higher. Despite its vaccines packaging, the company’s earnings are estimated to be around $4.70 per share in 2021, based on average consensus, meaning WST stock is trading at a 60x P/E multiple, which appears to be high, when compared to its levels seen over the recent years, i.e. 35x in 2018 and 46x in 2019. | Well, most of the stock price gains are seen in this year. What Brought About A Change In Earnings And Multiple? Despite its vaccines packaging, the company’s earnings are estimated to be around $4.70 per share in 2021, based on average consensus, meaning WST stock is trading at a 60x P/E multiple, which appears to be high, when compared to its levels seen over the recent years, i.e. 35x in 2018 and 46x in 2019. | b32256dc-5001-4049-a2e4-81656b544abd |
32459.0 | 2020-09-06 00:00:00 UTC | 3 Top Coronavirus Stocks to Buy in September | ABT | https://www.nasdaq.com/articles/3-top-coronavirus-stocks-to-buy-in-september-2020-09-06 | nan | nan | It seems we're nearing the finale of the coronavirus vaccine race. Eight programs have reached late-stage clinical testing, and the U.S. has vowed to help usher a possible vaccine to market by January.
But that doesn't mean opportunities to invest in companies involved in coronavirus work are over. As countries test populations and stockpile vaccines and treatments, there's still runway for success.
Image source: Getty Images.
In recent months, clinical-stage biotech companies have stolen the spotlight in the coronavirus fight. But some of the larger players are also worth a look. They usually won't post the same spectacular short-term gains as their biotech rivals, but they do offer the security of a vast portfolio of revenue-generating products. And this is exactly the type of company I recommend buying this month.
Here are three of my favorites:
Pfizer
A day after Moderna (NASDAQ: MRNA) launched the first human clinical trial of an investigational coronavirus vaccine, Pfizer (NYSE: PFE) announced its collaboration with BioNTech (NASDAQ: BNTX) on a vaccine candidate. Why is this significant? Because both potential vaccines are based on messenger RNA technology. Like Moderna, BioNTech is an expert in the field. While Moderna was clearly ahead at the start, the Pfizer/BioNTech team has caught up. Moderna announced the start of its phase 3 trial on July 27. That's the same day Pfizer and BioNTech announced the beginning of their phase 2/3 trial.
The rivals also have both reported positive interim results from their vaccine candidates in elderly patients, a key population group that is vulnerable to the coronavirus. Moderna hasn't said when it may apply for regulatory approval, but the Pfizer/BioNTech pair say they might be ready "as early as October."
Unlike Moderna, though, Pfizer's shares haven't soared more than 200% this year. They trade at a reasonable 14 times trailing 12-month earnings and are down 5% year to date.
AstraZeneca
AstraZeneca's (NYSE: AZN) story is similar to that of Pfizer. The big pharma company also entered the vaccine race through a partnership, joining forces with the University of Oxford in late April. Researchers there used their expertise from work ingon a potential vaccine for Middle East Respiratory Syndrome -- another coronavirus -- to quickly produce a candidate for COVID-19.
AstraZeneca is considered another leader in the race, and in May the company began recruiting candidates for a phase 2/3 trial. Like other players, AstraZeneca hasn't reported data from late-stage trials yet. But interim results from the phase 1 study were positive, showing levels of neutralizing antibodies (which block infection) in all participants.
AstraZeneca's revenue had dropped in recent years amid generic competition for its older drugs, but the company is back on track. Revenue last year increased 10%, and in the first half of this year, new medicines made up half of total sales. AstraZeneca is trading at 27 times expected earnings, compared with 68 times trailing 12-month earnings. Considering new medicine growth and potential coronavirus vaccine prospects, AstraZeneca looks like a good deal today.
AZN PE Ratio (Forward) data by YCharts
Abbott Laboratories
The U.S. Food and Drug Administration (FDA) has granted emergency use authorization to all six of Abbott Laboratories' (NYSE: ABT) tests for COVID-19, the illness caused by the novel coronavirus.
Abbott sells molecular tests that determine whether a person has the coronavirus now, as well as serology tests that show if a person has been infected in the past. Most recently, Abbott launched an antigen test to detect current infection. This type of test is particularly interesting because it's inexpensive, portable, and offers a result in 15 minutes.
Abbott's diagnostics and medical businesses have suffered during the coronavirus outbreak because patients and doctors have postponed other medical tests and procedures. In the meantime, though, the COVID-19 tests have limited revenue declines. In the second quarter, molecular testing revenue soared more than 233% thanks to COVID-19 tests. That helped the diagnostics business lift sales by 4.7% in the period. Still, total company revenue fell 5.4%.
I see declines in non-COVID-19 medical testing and surgical procedures as a temporary situation. Once patients and hospitals return to their regular routines, the healthcare company's diagnostics and medical devices businesses will benefit. Abbott's annual revenue has been on the rise since 2013, and after the coronavirus crisis has passed, the trend is likely to continue.
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Adria Cimino has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AZN PE Ratio (Forward) data by YCharts Abbott Laboratories The U.S. Food and Drug Administration (FDA) has granted emergency use authorization to all six of Abbott Laboratories' (NYSE: ABT) tests for COVID-19, the illness caused by the novel coronavirus. They usually won't post the same spectacular short-term gains as their biotech rivals, but they do offer the security of a vast portfolio of revenue-generating products. The rivals also have both reported positive interim results from their vaccine candidates in elderly patients, a key population group that is vulnerable to the coronavirus. | AZN PE Ratio (Forward) data by YCharts Abbott Laboratories The U.S. Food and Drug Administration (FDA) has granted emergency use authorization to all six of Abbott Laboratories' (NYSE: ABT) tests for COVID-19, the illness caused by the novel coronavirus. Here are three of my favorites: Pfizer A day after Moderna (NASDAQ: MRNA) launched the first human clinical trial of an investigational coronavirus vaccine, Pfizer (NYSE: PFE) announced its collaboration with BioNTech (NASDAQ: BNTX) on a vaccine candidate. The rivals also have both reported positive interim results from their vaccine candidates in elderly patients, a key population group that is vulnerable to the coronavirus. | AZN PE Ratio (Forward) data by YCharts Abbott Laboratories The U.S. Food and Drug Administration (FDA) has granted emergency use authorization to all six of Abbott Laboratories' (NYSE: ABT) tests for COVID-19, the illness caused by the novel coronavirus. Here are three of my favorites: Pfizer A day after Moderna (NASDAQ: MRNA) launched the first human clinical trial of an investigational coronavirus vaccine, Pfizer (NYSE: PFE) announced its collaboration with BioNTech (NASDAQ: BNTX) on a vaccine candidate. Abbott sells molecular tests that determine whether a person has the coronavirus now, as well as serology tests that show if a person has been infected in the past. | AZN PE Ratio (Forward) data by YCharts Abbott Laboratories The U.S. Food and Drug Administration (FDA) has granted emergency use authorization to all six of Abbott Laboratories' (NYSE: ABT) tests for COVID-19, the illness caused by the novel coronavirus. Unlike Moderna, though, Pfizer's shares haven't soared more than 200% this year. AstraZeneca AstraZeneca's (NYSE: AZN) story is similar to that of Pfizer. | 9327dcf2-d166-4e18-919c-9998e2e2e514 |
32460.0 | 2020-09-05 00:00:00 UTC | 4 Strategies for Investing During the Coronavirus Pandemic | ABT | https://www.nasdaq.com/articles/4-strategies-for-investing-during-the-coronavirus-pandemic-2020-09-05 | nan | nan | COVID-19 isn't going anywhere, not anytime soon at least. For investors, that means it's time to adapt and invest based on strategies that may be successful amid the pandemic. By holding investments in your portfolio that are able to do well even during adverse conditions like those that exist today, you'll save yourself some stress and possibly even earn a good return along the way.
Below, I'll show you four different investing strategies, involving 3M (NYSE: MMM), Teladoc Health (NYSE: TDOC), Abbott Laboratories (NYSE: ABT), and Viemed Health (NASDAQ: VMD). These companies all sell products and services that are in high demand during the pandemic. Here's a closer look at the different approaches and why each stock could be an attractive buy right now.
1. 3M for its protective equipment
3M offers a wide variety of products, but one area that's likely to remain strong is protective equipment. Masks, respirators, protective equipment, and cleaning materials are just some examples of the different types of products that consumers and businesses will need during the COVID-19 pandemic.
Image source: Getty Images.
The company's most recent results, which 3M released on July 28 for the second quarter ending June 30, were a bit disappointing with sales of $7.2 billion declining 12.2% year over year. However, a big part of that is likely due to many businesses not operating during the period amid shutdowns, leading to less demand for building and other materials. Personal safety sales of $1.1 billion, however, rose by 19.4% year over year. In the third quarter, with cities no longer under lockdown and heavy restrictions, 3M may see a recovery in many areas of its business while demand for personal safety, cleaning, and other products is likely to continue increasing.
As businesses adapt to their new normals, they'll need the tools and safety equipment from a trusted brand like 3M to help keep their customers and workers safe. And that's why investing in 3M could be a good move to make today. The stock's down 5% this year and could be an underrated buy.
2. Teladoc Health for virtual care
Teladoc's been seeing a surge for its services during the pandemic. Its virtual doctor visits are popular, especially among patients who may not want to physically visit the doctor's office right now. On July 29, Teladoc reported strong second-quarter results for the period up to June 30, with sales rising by 85% year over year and the number of virtual visits tripling to 2.8 million.
And it's not just in areas where COVID-19 cases are soaring that demand is high. Teladoc's services are getting lots of attention in places where it's less of a concern. "In some states where the curve has flattened, we are still seeing twice as many patient visits as last year," says CEO Jason Gorevic.
Investing in virtual care looks to be a good move right now, as many people are looking to minimize their movements and exposure to the coronavirus. That makes Teladoc's planned merger with Livongo, which the companies expect will close later this year, a great way for it to reach even more people, in particular patients with diabetes. The acquisition only makes Teladoc stronger, and an even better buy if you're looking to benefit from the surge in virtual care services.
3. Abbott Laboratories for testing
Another service that's in high demand right now is testing. And with Abbott Laboratories shipping out 13 million antibody tests, 6 million molecular lab tests, and 7 million rapid ID NOW tests throughout the country, it's fair to say this is likely going to be a strong growth area of Abbott's for a while. That's without even mentioning its latest test, BinaxNOW, which delivers results in 15 minutes and costs only $5.
The potential for a cheap and quick test is massive, which is why the U.S. government is looking to order at least 150 million of them. The U.S. Food and Drug Administration (FDA) granted emergency use approval for BinaxNOW on Aug. 26, permitting its use on patients who are experiencing COVID-19 symptoms if it's been no more than seven days since the symptoms started.
There's tremendous potential for testing, given the government's desire to resume some sort of normalcy in the economy while balancing safety. With a quick and inexpensive way to test for COVID-19, Abbott can help minimize the spread of the disease. It's a top stock for anyone looking to invest in companies that do coronavirus testing.
4. Viemed for ventilators
Viemed makes medical devices, including ventilators. On Aug. 4, it reported strong second-quarter sales of $42.9 million for the period ending June 30. That was a year-over-year increase of 111% that is primarily due to what management calls its "COVID-19 response sales." Viemed's been working with hospitals and state agencies to help provide the necessary equipment to help treat people with COVID-19. That includes not just ventilators, but also protective equipment, respiratory equipment, and other supplies.
Viemed's pre-tax profit of $12.8 million in Q2 was 30% of total revenue, and it was nearly 10 times the $1.4 million that it earned in the prior-year period.
Unfortunately, the need for ventilators and respiratory-related items is likely going to continue as long as COVID-19 is hospitalizing people. Viemed's one of the better options out there if you want to invest in a company that makes ventilators.
Which stock is the best buy?
There are many good options to choose from here for healthcare investors. But before deciding which one is the best, let's take a look at how each stock is doing this year.
^SPX data by YCharts
Only 3M has underperformed the S&P 500 this year, while Teladoc's soaring far above the other stocks on this list. Ultimately, I give the edge to Abbott Laboratories today because of its relatively modest rise in price and also how important testing will be, even after concerns about COVID-19 subside. With the company making a big name for itself with respect to COVID-19 testing, it's sure to play a key role in the economy getting back to some sort of normal, which could lead to strong results in future quarters.
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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. | Below, I'll show you four different investing strategies, involving 3M (NYSE: MMM), Teladoc Health (NYSE: TDOC), Abbott Laboratories (NYSE: ABT), and Viemed Health (NASDAQ: VMD). In the third quarter, with cities no longer under lockdown and heavy restrictions, 3M may see a recovery in many areas of its business while demand for personal safety, cleaning, and other products is likely to continue increasing. That makes Teladoc's planned merger with Livongo, which the companies expect will close later this year, a great way for it to reach even more people, in particular patients with diabetes. | Below, I'll show you four different investing strategies, involving 3M (NYSE: MMM), Teladoc Health (NYSE: TDOC), Abbott Laboratories (NYSE: ABT), and Viemed Health (NASDAQ: VMD). On July 29, Teladoc reported strong second-quarter results for the period up to June 30, with sales rising by 85% year over year and the number of virtual visits tripling to 2.8 million. On Aug. 4, it reported strong second-quarter sales of $42.9 million for the period ending June 30. | Below, I'll show you four different investing strategies, involving 3M (NYSE: MMM), Teladoc Health (NYSE: TDOC), Abbott Laboratories (NYSE: ABT), and Viemed Health (NASDAQ: VMD). On July 29, Teladoc reported strong second-quarter results for the period up to June 30, with sales rising by 85% year over year and the number of virtual visits tripling to 2.8 million. And with Abbott Laboratories shipping out 13 million antibody tests, 6 million molecular lab tests, and 7 million rapid ID NOW tests throughout the country, it's fair to say this is likely going to be a strong growth area of Abbott's for a while. | Below, I'll show you four different investing strategies, involving 3M (NYSE: MMM), Teladoc Health (NYSE: TDOC), Abbott Laboratories (NYSE: ABT), and Viemed Health (NASDAQ: VMD). On July 29, Teladoc reported strong second-quarter results for the period up to June 30, with sales rising by 85% year over year and the number of virtual visits tripling to 2.8 million. Abbott Laboratories for testing Another service that's in high demand right now is testing. | 57396fe5-2b72-49c7-9c1a-99a9dd05efed |
32461.0 | 2020-09-05 00:00:00 UTC | Why Carnival Stock Rose 18.7% in August | ABT | https://www.nasdaq.com/articles/why-carnival-stock-rose-18.7-in-august-2020-09-05 | nan | nan | What happened
Shares of Carnival (NYSE: CCL) rose 18.7% in August, according to data from S&P Global Market Intelligence. The cruise line operator's stock was decimated earlier this year amid the COVID-19 pandemic, but has seen big spikes periodically throughout the spring and summer, whenever investors got their hopes up for a vaccine and a cruising recovery.
Though the company didn't have any earnings or financial releases, there was lots of August activity, with more U.S. cruise cancellations, but also some resumptions planned for later this year in Europe. And Carnival raised additional debt and equity during the month, buying shareholders a bit more time.
Image source: Getty Images.
So what
At first glance, it's a wonder that Carnival stock actually appreciated during August, considering a bunch of events that should have been a negative. The company raised about $1.4 billion through an equity offering at $14.02 per share in order to pay off some interest-bearing convertible notes, then raised an additional $900 million in debt at a coupon of 9.875%.
While these raises bought Carnival more time, they are also dilutive to equity value. In addition, U.S. no-sail orders were extended through October, and several 2021 cruises were canceled across the industry. But Carnival's AIDA cruise line does plan to resume cruising in Germany this fall and winter.
More likely, Carnival was bid up on hopes for a vaccine coming sooner rather than later, as well as the late August Food and Drug Administration approval for a rapid five-minute COVID-19 test from Abbott Labs (NYSE: ABT). A potential rapid rollout of that test could enable cruise lines to get up and running faster, if everyone is tested before boarding.
Now what
There's a lot of uncertainty in Carnival and all cruise line stocks right now. I'd expect these consumer discretionary stocks to continue rising on days in which testing and vaccine news is positive. But the longer that cruise lines are effectively not sailing, or not sailing much, the more they will continue to burn cash, necessitating more equity or debt raises, which would be a headwind to value.
Cruises should remain popular after the pandemic has subsided, as they have for the last 20 years. However, investors should only allocate money to cruise stocks that they can afford to lose, since these companies still run high risks of dilution and potential bankruptcy should the no-sail posture drag on into next year.
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Billy Duberstein owns shares of Carnival and has the following options: short October 2020 $50 calls on Carnival and short January 2021 $40 calls on Carnival. His clients may own shares of the companies mentioned. The Motley Fool recommends Carnival. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | More likely, Carnival was bid up on hopes for a vaccine coming sooner rather than later, as well as the late August Food and Drug Administration approval for a rapid five-minute COVID-19 test from Abbott Labs (NYSE: ABT). Though the company didn't have any earnings or financial releases, there was lots of August activity, with more U.S. cruise cancellations, but also some resumptions planned for later this year in Europe. However, investors should only allocate money to cruise stocks that they can afford to lose, since these companies still run high risks of dilution and potential bankruptcy should the no-sail posture drag on into next year. | More likely, Carnival was bid up on hopes for a vaccine coming sooner rather than later, as well as the late August Food and Drug Administration approval for a rapid five-minute COVID-19 test from Abbott Labs (NYSE: ABT). And Carnival raised additional debt and equity during the month, buying shareholders a bit more time. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | More likely, Carnival was bid up on hopes for a vaccine coming sooner rather than later, as well as the late August Food and Drug Administration approval for a rapid five-minute COVID-19 test from Abbott Labs (NYSE: ABT). The cruise line operator's stock was decimated earlier this year amid the COVID-19 pandemic, but has seen big spikes periodically throughout the spring and summer, whenever investors got their hopes up for a vaccine and a cruising recovery. Now what There's a lot of uncertainty in Carnival and all cruise line stocks right now. | More likely, Carnival was bid up on hopes for a vaccine coming sooner rather than later, as well as the late August Food and Drug Administration approval for a rapid five-minute COVID-19 test from Abbott Labs (NYSE: ABT). The company raised about $1.4 billion through an equity offering at $14.02 per share in order to pay off some interest-bearing convertible notes, then raised an additional $900 million in debt at a coupon of 9.875%. A potential rapid rollout of that test could enable cruise lines to get up and running faster, if everyone is tested before boarding. | f6ec8aa5-7d6e-4e59-96d5-dffe38b411c9 |
32462.0 | 2020-09-04 00:00:00 UTC | Why Darden Restaurants Stock Was Up 14% in August | ABT | https://www.nasdaq.com/articles/why-darden-restaurants-stock-was-up-14-in-august-2020-09-04 | nan | nan | What happened
Shares of casual-dining restaurant company Darden Restaurants (NYSE: DRI) went up 14.2% in August, according to data provided by S&P Global Market Intelligence. The company didn't have news to report and analysts were split over whether this was a good stock to buy. Nevertheless, Darden stock rose with the market and then got a big boost when Abbot Laboratories announced its new coronavirus test.
Although Darden stock is rising, a recent filing with the Securities and Exchange Commission (SEC) is a reminder for investors that the company isn't back to normal yet.
DRI data by YCharts
So what
Restaurant traffic, especially casual dining, was decimated by the COVID-19 pandemic. As one of the largest restaurant companies in the world, Darden likewise suffered. Traffic hasn't returned to normal with many dining rooms still not at full operating capacity. But maybe that's about to change. Abbott Labs' new coronavirus test is cheaper and faster than anything to date, giving investors optimism these could be used to help the restaurant industry recover.
An Aug. 31 SEC filing from Darden is a reminder of how pressing this need is. The company is offering early retirement to 250 corporate employees and laying off even more. The layoffs include executive vice president and COO David C. George, whose corporate roles are being eliminated entirely. The stated reason for this restructuring was to align corporate expenses with the ongoing sales reality.
Image source: Getty Images.
Now what
The restructuring will cost Darden $35 million now, not including undisclosed non-cash expenses. After the one-time hit, it should save the company $25 million to $30 million annually -- which would be a good thing. But make no mistake, Darden wouldn't have restructured its business like this if restaurant traffic were already back to pre-COVID-19 levels.
While Darden stock is still down about 30% from 52-week highs, I'd stop short of calling this a value stock at the moment. The company reports results for the first quarter of its fiscal 2021 on Sept. 24. I'd at least wait to see if the business has returned to modest growth and the dividend has been reinstated before thinking about investing.
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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. | Nevertheless, Darden stock rose with the market and then got a big boost when Abbot Laboratories announced its new coronavirus test. Although Darden stock is rising, a recent filing with the Securities and Exchange Commission (SEC) is a reminder for investors that the company isn't back to normal yet. Abbott Labs' new coronavirus test is cheaper and faster than anything to date, giving investors optimism these could be used to help the restaurant industry recover. | What happened Shares of casual-dining restaurant company Darden Restaurants (NYSE: DRI) went up 14.2% in August, according to data provided by S&P Global Market Intelligence. Although Darden stock is rising, a recent filing with the Securities and Exchange Commission (SEC) is a reminder for investors that the company isn't back to normal yet. See the 10 stocks *Stock Advisor returns as of August 1, 2020 Jon Quast has no position in any of the stocks mentioned. | Although Darden stock is rising, a recent filing with the Securities and Exchange Commission (SEC) is a reminder for investors that the company isn't back to normal yet. 10 stocks we like better than Darden Restaurants 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 Jon Quast has no position in any of the stocks mentioned. | But make no mistake, Darden wouldn't have restructured its business like this if restaurant traffic were already back to pre-COVID-19 levels. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Darden Restaurants wasn't one of them! See the 10 stocks *Stock Advisor returns as of August 1, 2020 Jon Quast has no position in any of the stocks mentioned. | 2d02bf92-d520-454d-8ef3-9b6570a05e22 |
32463.0 | 2020-09-04 00:00:00 UTC | IVW, ABT, AMD, ACN: Large Outflows Detected at ETF | ABT | https://www.nasdaq.com/articles/ivw-abt-amd-acn%3A-large-outflows-detected-at-etf-2020-09-04 | 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 $47.7 million dollar outflow -- that's a 0.2% decrease week over week (from 131,450,000 to 131,250,000). Among the largest underlying components of IVW, in trading today Abbott Laboratories (Symbol: ABT) is off about 1.8%, Advanced Micro Devices Inc (Symbol: AMD) is down about 5.8%, and Accenture plc (Symbol: ACN) is lower by about 1.8%. 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 $250.42 as the 52 week high point — that compares with a last trade of $232.16. 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 Abbott Laboratories (Symbol: ABT) is off about 1.8%, Advanced Micro Devices Inc (Symbol: AMD) is down about 5.8%, and Accenture plc (Symbol: ACN) is lower by about 1.8%. 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 $250.42 as the 52 week high point — that compares with a last trade of $232.16. 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 Abbott Laboratories (Symbol: ABT) is off about 1.8%, Advanced Micro Devices Inc (Symbol: AMD) is down about 5.8%, and Accenture plc (Symbol: ACN) is lower by about 1.8%. 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 $250.42 as the 52 week high point — that compares with a last trade of $232.16. 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 Abbott Laboratories (Symbol: ABT) is off about 1.8%, Advanced Micro Devices Inc (Symbol: AMD) is down about 5.8%, and Accenture plc (Symbol: ACN) is lower by about 1.8%. 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 $47.7 million dollar outflow -- that's a 0.2% decrease week over week (from 131,450,000 to 131,250,000). 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 $250.42 as the 52 week high point — that compares with a last trade of $232.16. | Among the largest underlying components of IVW, in trading today Abbott Laboratories (Symbol: ABT) is off about 1.8%, Advanced Micro Devices Inc (Symbol: AMD) is down about 5.8%, and Accenture plc (Symbol: ACN) is lower by about 1.8%. 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 $47.7 million dollar outflow -- that's a 0.2% decrease week over week (from 131,450,000 to 131,250,000). 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 $250.42 as the 52 week high point — that compares with a last trade of $232.16. | cabcd163-d8aa-481a-a5ce-70e68bbd2a48 |
32464.0 | 2020-09-04 00:00:00 UTC | Next Coronavirus Market Crash: Where to Invest $1,000 | ABT | https://www.nasdaq.com/articles/next-coronavirus-market-crash%3A-where-to-invest-%241000-2020-09-04 | nan | nan | Despite widespread surmising, no one knows if or when the next coronavirus market crash will come. Investors (and the world) are on tenterhooks waiting to find out whether an effective vaccine will make it to market so that presumably, we can all gain back a sense of normalcy in daily life. The S&P 500, the Dow Jones Industrial Average, and the Nasdaq Composite have been breaking records in recent days, and the soaring stock market can be attributed in large part to growing optimism about finding a cure for COVID-19.
If you have $1,000 to invest in the stock market right now, you may be hesitant to use it to scoop up shares of any stock, given uncertainty about further pandemic-induced volatility. But there are still plenty of attractive choices to recession-proof your portfolio. Here are three stocks that can provide some insulation in the event of another coronavirus market crash.
Image source: Getty Images.
Tandem Diabetes Care
Tandem Diabetes Care (NASDAQ: TNDM) creates and manufactures medical devices including insulin pumps, infusion sets, and pump accessories. Shares of the company fell about 41% in March, but are now up by more than 87% year to date.
The company has reported stellar sales growth throughout all stages of the pandemic. When you consider that approximately 8.3 million diabetics require insulin in the U.S. alone, this continuing demand for Tandem's products isn't surprising. During the first quarter of 2020 (which ended March 31), the company reported a 48% year-over-year increase in global sales, with global pump shipments rising by 18% and domestic pump shipments up 36%.
During the second quarter, which ran through June, Tandem's worldwide sales saw a 17% increase year over year to $109.2 million. Domestic pump shipments were up 15%. The company finished out the first six months of the year with $426.3 million in cash.
Management reinstated their previously withdrawn sales guidance in the Q2 earnings report, citing record demand for the company's t:slim X2 insulin pump. The company expects to achieve up to 28% sales growth for all of 2020, projecting figures in the ballpark of $450 million to $465 million.
Vertex Pharmaceuticals
Vertex Pharmaceuticals (NASDAQ: VRTX) continues to impress investors this year. The stock is trading about $100 higher than it was a year ago and has rebounded by more than 35% from its March lows. The company currently has four approved medicines on the market -- Trikafta, Symdeko, Orkambi, and Kalydeco -- all for the treatment of the genetic disease cystic fibrosis. Trikafta is Vertex's best-selling medicine, even though it hasn't yet been a full year since it received the U.S. Food and Drug Administration's (FDA) stamp of approval.
Vertex's revenue was up 77% year over year in the first quarter of 2020 and 62% year over year in the quarter that ended June 30. Trikafta alone made up $895 million in Q1 revenue, followed by $918 million in the second quarter.
Vertex Pharmaceuticals also raised its guidance for 2020 in its Q2 earnings report. Whereas the company had projected earnings in the $5.3 billion to $5.6 billion range, it now expects to see between $5.7 billion and $5.9 billion.
TNDM data by YCharts
Abbott Laboratories
In business since 1888, Abbott Laboratories (NYSE: ABT) boasts an extremely diverse portfolio including cardiovascular solutions, medicines, and nutritional products.
In particular, it's been in the news lately thanks to its coronavirus diagnostic tests. On Aug. 26, the company announced that its 15-minute coronavirus antigen test (which detects active infection) had been given an Emergency Use Authorization (EUA) by the FDA. The best part? The test will be sold for just $5. The company aims to be able to ship 50 million tests a month by early October. Abbott has also developed several other COVID-19 tests, including point-of-care molecular tests (also for current infections) and an antibody blood test (which detects previous infection).
The stock has gained about 26% since the beginning of the year. The company does pay a dividend, and while its yield of 1.32% is relatively modest compared with the S&P 500 average of 2%, it has increased its payouts for 48 years in a row. This makes the stock a Dividend Aristocrat (which requires 25 years of increases), and almost a Dividend King (50 years).
Abbott Labs achieved global sales totaling $7.3 billion in Q2 2020, $615 million of which were attributable to its coronavirus tests. Global sales in its nutrition segment were up 0.4% in the quarter, while worldwide diagnostic sales rose by 4.7%. A decline in certain routine procedures being performed due to the pandemic led the company to report a 21.2% decrease in its medical device segment in Q2 2020. Finally, Abbott's TriClip heart valve repair system received the European Union's CE certification mark in April, significantly expanding the TriClip's footprint outside the U.S. The product is marketed as "the world's first minimally invasive, clip-based tricuspid heart valve repair device."
Abbott expects to achieve diluted earnings per share for the full year totaling $2 or higher. This is a slight decrease from the projections management made in the fourth quarter and full-year 2019 financial report, when they anticipated diluted EPS growth according to generally accepted accounting principles (GAAP) in the ballpark of $2.35 to $2.45 in 2020. However, Abbott withdrew its full-year guidance in the Q1 report, citing unpredictabilities concerning the length of the pandemic and its effect on its business. The fact that Abbott has now reissued annual guidance is a sign of management's confidence in the company's profitability this year and its ability to stave off overtly adverse effects from 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. | TNDM data by YCharts Abbott Laboratories In business since 1888, Abbott Laboratories (NYSE: ABT) boasts an extremely diverse portfolio including cardiovascular solutions, medicines, and nutritional products. The S&P 500, the Dow Jones Industrial Average, and the Nasdaq Composite have been breaking records in recent days, and the soaring stock market can be attributed in large part to growing optimism about finding a cure for COVID-19. This is a slight decrease from the projections management made in the fourth quarter and full-year 2019 financial report, when they anticipated diluted EPS growth according to generally accepted accounting principles (GAAP) in the ballpark of $2.35 to $2.45 in 2020. | TNDM data by YCharts Abbott Laboratories In business since 1888, Abbott Laboratories (NYSE: ABT) boasts an extremely diverse portfolio including cardiovascular solutions, medicines, and nutritional products. Tandem Diabetes Care Tandem Diabetes Care (NASDAQ: TNDM) creates and manufactures medical devices including insulin pumps, infusion sets, and pump accessories. During the first quarter of 2020 (which ended March 31), the company reported a 48% year-over-year increase in global sales, with global pump shipments rising by 18% and domestic pump shipments up 36%. | TNDM data by YCharts Abbott Laboratories In business since 1888, Abbott Laboratories (NYSE: ABT) boasts an extremely diverse portfolio including cardiovascular solutions, medicines, and nutritional products. During the first quarter of 2020 (which ended March 31), the company reported a 48% year-over-year increase in global sales, with global pump shipments rising by 18% and domestic pump shipments up 36%. During the second quarter, which ran through June, Tandem's worldwide sales saw a 17% increase year over year to $109.2 million. | TNDM data by YCharts Abbott Laboratories In business since 1888, Abbott Laboratories (NYSE: ABT) boasts an extremely diverse portfolio including cardiovascular solutions, medicines, and nutritional products. During the second quarter, which ran through June, Tandem's worldwide sales saw a 17% increase year over year to $109.2 million. Vertex's revenue was up 77% year over year in the first quarter of 2020 and 62% year over year in the quarter that ended June 30. | a1589b13-8194-411d-a0cf-c0d56b565e13 |
32465.0 | 2020-09-04 00:00:00 UTC | Like Dividends? I Bet You'll Love These 2 Stocks | ABT | https://www.nasdaq.com/articles/like-dividends-i-bet-youll-love-these-2-stocks-2020-09-04 | nan | nan | The "Oracle of Omaha," Warren Buffett, has famously been quoted as saying, "Price is what you pay. Value is what you get." Dividend stocks are a tried-and-true way of adding value to your portfolio -- when a company pays a generous dividend, this can be a sign of its potential as a reliable long-term investment. High dividend yields inevitably draw investor cash, which may subsequently boost a stock's price and therefore the portfolios of existing shareholders.
These days, finding robust dividend stocks isn't a walk in the park. But plenty of highly profitable dividend stocks do exist even in the current volatile market. If you're actively searching for dividend stocks, you'll definitely want to add these two large-cap healthcare companies to your list of contenders.
Image source: Getty Images.
AbbVie
Biopharmaceutical giant AbbVie (NYSE: ABBV) is among the crème de la crème of stocks known as Dividend Aristocrats. To be listed on the S&P 500's Dividend Aristocrat index, a stock must boost its dividend every year for at least 25 years in a row; AbbVie's history as part of Abbott Laboratories (NYSE: ABT), from which it spun off in 2013, is included there. AbbVie currently pays out a mouth-watering dividend yield of 5%.
Although AbbVie stock fell in March with the rest of the market, it has more than recovered, and the stock is up about 5% year to date. The company has also maintained its high profitability, even during the darkest days of the pandemic. For first-quarter 2020, which ended March 31, the company reported net revenue of nearly $9 billion, up 10% over the first quarter of 2019. In the second quarter, which ended June 30, AbbVie's revenue reached $10.4 billion.
A few factors drove the company's exceptional performance during the first half of this year, and they're likely to play a vital role in the company's ongoing growth story. First, there was AbbVie's blockbuster immunosuppressive drug, Humira, which brought in $4.7 billion in Q1 and $4.8 billion in Q2. Then, there's the company's hugely profitable hematologic oncology (blood cancer) business, which brought in $1.5 billion in Q1 and $1.6 billion in Q2. AbbVie's acquisition of Allergan, which concluded in May, added considerable strength to its portfolio, including existing drugs and therapeutics as well as pipeline products.
The company announced Aug. 25 that it had submitted a regulatory application to the U.S. Food and Drug Administration (FDA) seeking a new label indication for Rinvoq, the rheumatoid arthritis drug it launched in August 2019. If the FDA grants the new indication, AbbVie could also market Rinvoq to treat patients with an inflammatory disease called ankylosing spondylitis. Such a new indication could expand Rinvoq's revenue potential -- the drug brought in $149 million in revenue in Q2 2020 alone.
The end to AbbVie's current momentum is nowhere in sight. Factoring in the Allergen acquisition, AbbVie anticipates diluted earnings per share (EPS) under generally accepted accounting principles (GAAP) to hit somewhere in the range of $4.12 to $4.22 for the whole of 2020.
GlaxoSmithKline
British pharmaceutical company GlaxoSmithKline (NYSE: GSK) closed at $39.90 per share on Wednesday, and its attractive yield of 6.41% is certainly a big draw for investors searching for dividend income.
GlaxoSmithKline's work on multiple concurrent COVID-19 vaccine candidates has been the most talked-about development in the company's pipeline lately. The company is contributing its pandemic adjuvant system to multiple vaccine collaborations with different companies. An adjuvant helps to elicit a more robust immune reaction in the subject. When someone is administered a vaccine that features an adjuvant, this aids the vaccine in being more effective. An adjuvant can also help to stimulate the development of antibodies in less potent vaccines and/or bring about the desired results with a more moderate dose, which can help to alleviate manufacturing constraints during the pandemic.
GlaxoSmithKline is collaborating with Clover Pharmaceuticals and Medicago on two separate vaccine candidates using its pandemic adjuvant system and vaccine technologies proffered by the respective companies. Both candidates from these collaborations are in phase 1 human trials.
But it's GlaxoSmithKline's third collaboration on a COVID-19 vaccine with French company Sanofi (NASDAQ: SNY) that may be the most compelling. A phase 1/2 study of the vaccine, which uses GlaxoSmithKline's pandemic adjuvant system and Sanofi's S-protein COVID-19 antigen (S-proteins help to elicit neutralizing antibodies) began this week. On July 31, the companies announced an agreement with the U.S. government to provide up to 600 million doses of the vaccine candidate, in return for which GlaxoSmithKline and Sanofi were awarded $2.1 billion in Operation Warp Speed funding. The companies plan to begin a phase 3 safety and efficacy study on the potential vaccine before the end of the year.
GlaxoSmithKline is also collaborating with Vir Biotechnology (NASDAQ: VIR) on potential antibody-based therapeutics. On Aug. 31, the the companies announced that their monoclonal antibody candidate, VIR-7831 -- designed to treat patients in the early stages of COVID-19 and prevent hospitalization -- had entered a phase 2/3 human trial. Initial data from the study could be released before the year is out.
GlaxoSmithKline has 35 medicines and 15 vaccines in its biopharma pipeline. The company reported second-quarter sales of $10.1 billion, a slight year-over-year decline attributable to the impact of COVID-19. Sales in GlaxoSmithKline's respiratory business were up 17% in the quarter, led by a 62% increase in sales of its chronic obstructive pulmonary disease (COPD) treatment, Trelegy, and a 24% boost in sales of Nucala, a treatment for eosinophilic asthma.
Investors analyzing GlaxoSmithKline's growth potential needn't (and shouldn't) pin their hopes on its role in the COVID-19 cure race. The company has stated emphatically that it "does not expect to profit from sales of its portfolio of collaborations for COVID-19 vaccines made during this pandemic phase, as profit generated will be invested in support of coronavirus related research and long-term pandemic preparedness."
In any case, the company has shown impressive resilience during highs and lows of 2020. The strength of its balance sheet, portfolio, and pipeline all paint a bright picture for its future beyond 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. | To be listed on the S&P 500's Dividend Aristocrat index, a stock must boost its dividend every year for at least 25 years in a row; AbbVie's history as part of Abbott Laboratories (NYSE: ABT), from which it spun off in 2013, is included there. Factoring in the Allergen acquisition, AbbVie anticipates diluted earnings per share (EPS) under generally accepted accounting principles (GAAP) to hit somewhere in the range of $4.12 to $4.22 for the whole of 2020. On July 31, the companies announced an agreement with the U.S. government to provide up to 600 million doses of the vaccine candidate, in return for which GlaxoSmithKline and Sanofi were awarded $2.1 billion in Operation Warp Speed funding. | To be listed on the S&P 500's Dividend Aristocrat index, a stock must boost its dividend every year for at least 25 years in a row; AbbVie's history as part of Abbott Laboratories (NYSE: ABT), from which it spun off in 2013, is included there. Such a new indication could expand Rinvoq's revenue potential -- the drug brought in $149 million in revenue in Q2 2020 alone. The company is contributing its pandemic adjuvant system to multiple vaccine collaborations with different companies. | To be listed on the S&P 500's Dividend Aristocrat index, a stock must boost its dividend every year for at least 25 years in a row; AbbVie's history as part of Abbott Laboratories (NYSE: ABT), from which it spun off in 2013, is included there. Dividend stocks are a tried-and-true way of adding value to your portfolio -- when a company pays a generous dividend, this can be a sign of its potential as a reliable long-term investment. The company is contributing its pandemic adjuvant system to multiple vaccine collaborations with different companies. | To be listed on the S&P 500's Dividend Aristocrat index, a stock must boost its dividend every year for at least 25 years in a row; AbbVie's history as part of Abbott Laboratories (NYSE: ABT), from which it spun off in 2013, is included there. GlaxoSmithKline is collaborating with Clover Pharmaceuticals and Medicago on two separate vaccine candidates using its pandemic adjuvant system and vaccine technologies proffered by the respective companies. But it's GlaxoSmithKline's third collaboration on a COVID-19 vaccine with French company Sanofi (NASDAQ: SNY) that may be the most compelling. | 3c57d65e-d3f4-43e6-b380-b01209a89fad |
32466.0 | 2020-09-02 00:00:00 UTC | Abbot Labs: New COVID-19 Antibody Test Is a Game Changer, Says Analyst | ABT | https://www.nasdaq.com/articles/abbot-labs%3A-new-covid-19-antibody-test-is-a-game-changer-says-analyst-2020-09-02 | nan | nan | While many small pharma companies are racing to bring various coronavirus-related solutions to market, it is one of Big Pharma’s representatives that has flexed its muscles with the latest meaningful product.
Last week, Abbott Laboratories (ABT) announced it had been granted emergency use authorization (EUA) by the FDA for its rapid COVID-19 antibody test, BinaxNOW.
The test doesn’t need any instrumentation or equipment, and each test kit is completely disposable. The test provides results in 15 minutes, is priced at $5 and can be overseen by a wide range of people. Despite being a quick solution, it is highly accurate, with 97.1% sensitivity and 98.5% specificity rates.
The U.S. government was quick off the mark and has already gobbled up almost all of ABT’s 2020 BinaxNOW capacity, equating to 150 million units (i.e. $750 million in sales).
As a result of the test’s EUA, Credit Suisse analyst Matt Miksic increased his estimate for the Rapid Test by $5.2 billion. However, Miksic expects the “debate over the sustainability of Covid testing sales to continue.”
The 5-star analyst said, “While there is little debate among investors over the magnitude of near-term sales these new COVID-19 tests will generate, the question as to how long these sales will continue, or how much share ABT will ultimately capture remains actively contested. Our view remains that lateral flow tests, which can be performed without instruments or equipment, by wide range of individuals, will be an important and widely used tool for mitigating the risk of spreading the virus while reopening businesses and schools. While serology (i.e. antibody) tests have seen only limited utility and demand to date, we expect demand for immunity testing to increase as vaccines are approved, distributed and administered.”
Accordingly, Miksic raised his price target for ABT shares from $109 to $136. The implication for investors? Upside potential of 24%. Miksic’s Outperform (i.e. Buy) rating stays as is. (To watch Miksic’s track record, click here)
Overall, based on 10 Buy ratings, 2 Holds and 1 Sell, Abbot has a Moderate Buy consensus rating. At $116.90, the average price target implies upside of ~7% could be in the cards. (See Abbot stock analysis on TipRanks)
To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Last week, Abbott Laboratories (ABT) announced it had been granted emergency use authorization (EUA) by the FDA for its rapid COVID-19 antibody test, BinaxNOW. While serology (i.e. antibody) tests have seen only limited utility and demand to date, we expect demand for immunity testing to increase as vaccines are approved, distributed and administered.” Accordingly, Miksic raised his price target for ABT shares from $109 to $136. The U.S. government was quick off the mark and has already gobbled up almost all of ABT’s 2020 BinaxNOW capacity, equating to 150 million units (i.e. $750 million in sales). | Last week, Abbott Laboratories (ABT) announced it had been granted emergency use authorization (EUA) by the FDA for its rapid COVID-19 antibody test, BinaxNOW. The U.S. government was quick off the mark and has already gobbled up almost all of ABT’s 2020 BinaxNOW capacity, equating to 150 million units (i.e. $750 million in sales). However, Miksic expects the “debate over the sustainability of Covid testing sales to continue.” The 5-star analyst said, “While there is little debate among investors over the magnitude of near-term sales these new COVID-19 tests will generate, the question as to how long these sales will continue, or how much share ABT will ultimately capture remains actively contested. | However, Miksic expects the “debate over the sustainability of Covid testing sales to continue.” The 5-star analyst said, “While there is little debate among investors over the magnitude of near-term sales these new COVID-19 tests will generate, the question as to how long these sales will continue, or how much share ABT will ultimately capture remains actively contested. While serology (i.e. antibody) tests have seen only limited utility and demand to date, we expect demand for immunity testing to increase as vaccines are approved, distributed and administered.” Accordingly, Miksic raised his price target for ABT shares from $109 to $136. Last week, Abbott Laboratories (ABT) announced it had been granted emergency use authorization (EUA) by the FDA for its rapid COVID-19 antibody test, BinaxNOW. | However, Miksic expects the “debate over the sustainability of Covid testing sales to continue.” The 5-star analyst said, “While there is little debate among investors over the magnitude of near-term sales these new COVID-19 tests will generate, the question as to how long these sales will continue, or how much share ABT will ultimately capture remains actively contested. Last week, Abbott Laboratories (ABT) announced it had been granted emergency use authorization (EUA) by the FDA for its rapid COVID-19 antibody test, BinaxNOW. The U.S. government was quick off the mark and has already gobbled up almost all of ABT’s 2020 BinaxNOW capacity, equating to 150 million units (i.e. $750 million in sales). | 9a8df01a-2f2a-4a70-a291-e1925dc08643 |
32467.0 | 2020-09-02 00:00:00 UTC | Why Co-Diagnostics Shares Sank Today While the Stock Market Jumped | ABT | https://www.nasdaq.com/articles/why-co-diagnostics-shares-sank-today-while-the-stock-market-jumped-2020-09-02 | nan | nan | What happened
Shares of Co-Diagnostics (NASDAQ: CODX) were sinking 7.2% lower as of 3:34 p.m. EDT on Wednesday, on a day when the major stock market indexes delivered solid gains. There weren't any new developments to explain why Co-Diagnostics stock fell. The most likely culprit behind the decline is a continued sell-off resulting from Abbott Labs (NYSE: ABT) winning FDA emergency use authorization (EUA) last week for its inexpensive rapid COVID-19 antibody test.
So what
Co-Diagnostics' shares are down around 25% since Abbott announced on Aug. 26 that the FDA had issued EUA for its BinaxNOW COVID-19 antibody test. The cost of Abbott's test is only $5 per sample. The test can return results within 15 minutes with no special equipment required.
Image source: Getty Images.
How concerning is this development for Co-Diagnostics? The company provided an unscheduled operational update on Tuesday playing up the importance of RT-PCR (or reverse-transcriptase polymerase chain reaction) tests like its Logix Smart COVID-19 test, stating that these tests remain the "gold standard" for novel coronavirus testing. This press release might not have been intended as a response to investors' concerns about competition from Abbott, but it could have come across that way to some readers.
While Co-Diagnostics is correct that RT-PCR tests are the best option, Abbott will likely make major inroads with its BinaxNOW test. Low costs and rapid on-site results will probably make the test's accuracy good enough for many healthcare providers. Co-Diagnostics is one of several companies that could lose market share.
Now what
What could turn things around for the healthcare stock? Solid sales growth.
Co-Diagnostics hopes to boost its growth with an expansion to its testing. The company stated in its update on Tuesday that it is adding a respiratory virus panel to its COVID-19 testing "in light of the upcoming flu season and the ongoing coronavirus pandemic." This test could prove to be popular with customers, especially if the flu season in the fall and winter is an especially nasty one.
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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 most likely culprit behind the decline is a continued sell-off resulting from Abbott Labs (NYSE: ABT) winning FDA emergency use authorization (EUA) last week for its inexpensive rapid COVID-19 antibody test. What happened Shares of Co-Diagnostics (NASDAQ: CODX) were sinking 7.2% lower as of 3:34 p.m. EDT on Wednesday, on a day when the major stock market indexes delivered solid gains. The company stated in its update on Tuesday that it is adding a respiratory virus panel to its COVID-19 testing "in light of the upcoming flu season and the ongoing coronavirus pandemic." | The most likely culprit behind the decline is a continued sell-off resulting from Abbott Labs (NYSE: ABT) winning FDA emergency use authorization (EUA) last week for its inexpensive rapid COVID-19 antibody test. 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 August 1, 2020 Keith Speights has no position in any of the stocks mentioned. | The most likely culprit behind the decline is a continued sell-off resulting from Abbott Labs (NYSE: ABT) winning FDA emergency use authorization (EUA) last week for its inexpensive rapid COVID-19 antibody test. The company provided an unscheduled operational update on Tuesday playing up the importance of RT-PCR (or reverse-transcriptase polymerase chain reaction) tests like its Logix Smart COVID-19 test, stating that these tests remain the "gold standard" for novel coronavirus testing. While Co-Diagnostics is correct that RT-PCR tests are the best option, Abbott will likely make major inroads with its BinaxNOW test. | The most likely culprit behind the decline is a continued sell-off resulting from Abbott Labs (NYSE: ABT) winning FDA emergency use authorization (EUA) last week for its inexpensive rapid COVID-19 antibody test. 10 stocks we like better than Co-Diagnostics, Inc. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Co-Diagnostics, Inc. wasn't one of them! | 013f5373-a22d-4b57-baca-72a08b6481bf |
32468.0 | 2020-09-02 00:00:00 UTC | Why DexCom Stock Jumped Today | ABT | https://www.nasdaq.com/articles/why-dexcom-stock-jumped-today-2020-09-02 | nan | nan | What happened
Shares of DexCom (NASDAQ: DXCM) were jumping 5.7% higher as of 3:02 p.m. EDT on Wednesday. The maker of continuous glucose monitoring (CGM) systems didn't announce any news. Instead, DexCom's gains appear to be the result of investors' general optimism about the economy as the overall stock market rose on Wednesday.
So what
Most stocks tend to move higher when the major market indexes rise. The strongest stocks, though, usually generate gains that are well above the indexes'. And DexCom qualifies as one of the strongest on the market, with the healthcare stock more than doubling so far in 2020.
Image source: Getty Images.
The most important thing for investors to understand is why DexCom has performed so well. That question can be answered with one letter and one numeral: G6.
Sales continue to soar for DexCom's G6 CGM system. The company reported a 34% year-over-year revenue jump in the second quarter. DexCom's growth could pick up even more in the second half of the year with fewer headwinds from the COVID-19 pandemic.
Now what
Competition in the CGM market has intensified with Abbott Labs winning FDA clearance for its Freestyle Libre 2 CGM in June. However, DexCom appears to be in a good position to continue delivering strong growth with its G6 system and should experience a sales boost when it launches its new G7 system in the future.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | What happened Shares of DexCom (NASDAQ: DXCM) were jumping 5.7% higher as of 3:02 p.m. EDT on Wednesday. The maker of continuous glucose monitoring (CGM) systems didn't announce any news. Instead, DexCom's gains appear to be the result of investors' general optimism about the economy as the overall stock market rose on Wednesday. | Sales continue to soar for DexCom's G6 CGM system. 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 August 1, 2020 Keith Speights has no position in any of the stocks mentioned. | Instead, DexCom's gains appear to be the result of investors' general optimism about the economy as the overall stock market rose on Wednesday. 10 stocks we like better than DexCom 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 Shares of DexCom (NASDAQ: DXCM) were jumping 5.7% higher as of 3:02 p.m. EDT on Wednesday. The maker of continuous glucose monitoring (CGM) systems didn't announce any news. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and DexCom wasn't one of them! | 124383d6-4456-4bf5-991e-05f7d702b0a2 |
32469.0 | 2020-09-02 00:00:00 UTC | Why Shake Stock Surged 41% Last Month | ABT | https://www.nasdaq.com/articles/why-shake-stock-surged-41-last-month-2020-09-02 | nan | nan | What happened
Shake Shack (NYSE: SHAK) climbed 41% last month, according to data from S&P Global Market Intelligence as the fast-casual burger chain bounced back from a weak earnings report at the end of July, and gained on an analyst upgrade and bullish sentiment for fast-food stocks.
As you can see from the chart below, the stock climbed steadily through August and then surged at the end of the month on enthusiasm about a new rapid COVID-19 test that could bring back restaurant customers.
SHAK data by YCharts
So what
There was little news out on Shake Shack in the first half of the month, but the stock seemed to gain as coronavirus cases nationwide pulled back from a peak in July, boosting hopes for a continued economic reopening that would help Shake Shack, which has been battered by a loss of office workers and tourists. Stocks also climbed broadly on a strong quarterly earnings report and economic data that showed the recovery moving along.
Image source: Shake Shack.
On Aug. 20, Shake Shack stock kicked off an 8% gain over a two-day span after Wedbush analyst Nick Setyan upgraded the stock from neutral to outperform and lifted his price target from $53 to $77. Setyan noted that Shake Shack had been one of the best growth stocks in the restaurant industry before the pandemic, and said that the earlier sell-off this year added to the stock's growth potential. He was also encouraged by the company's recent digital investments and new unit formats like drive-thrus.
Finally, the stock surged in the last week of August along with a number of restaurant chains after Abbott Labs said it was developing a rapid COVID-19 test that would give results in just 15 minutes and cost only $5. The test could help better control the spread of the virus, and possibly bring back restaurant traffic as eateries would have a convenient tool to screen customers.
Now what
There's no question that Shake Shack has a big hole to dig itself out of after revenue tumbled by 40% in the second quarter. The company is in a weaker position than many of its fast-food rivals because its stores are located mostly in cities and reliant on walk-in traffic, rather than digital sales or drive-thru orders.
Still, Shake Shack restaurants generate more sales per location than almost any other fast-food chain, and the brand remains strong. The company's performance should recover as consumer behavior normalizes.
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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 Shake Shack (NYSE: SHAK) climbed 41% last month, according to data from S&P Global Market Intelligence as the fast-casual burger chain bounced back from a weak earnings report at the end of July, and gained on an analyst upgrade and bullish sentiment for fast-food stocks. As you can see from the chart below, the stock climbed steadily through August and then surged at the end of the month on enthusiasm about a new rapid COVID-19 test that could bring back restaurant customers. Finally, the stock surged in the last week of August along with a number of restaurant chains after Abbott Labs said it was developing a rapid COVID-19 test that would give results in just 15 minutes and cost only $5. | What happened Shake Shack (NYSE: SHAK) climbed 41% last month, according to data from S&P Global Market Intelligence as the fast-casual burger chain bounced back from a weak earnings report at the end of July, and gained on an analyst upgrade and bullish sentiment for fast-food stocks. As you can see from the chart below, the stock climbed steadily through August and then surged at the end of the month on enthusiasm about a new rapid COVID-19 test that could bring back restaurant customers. Stocks also climbed broadly on a strong quarterly earnings report and economic data that showed the recovery moving along. | SHAK data by YCharts So what There was little news out on Shake Shack in the first half of the month, but the stock seemed to gain as coronavirus cases nationwide pulled back from a peak in July, boosting hopes for a continued economic reopening that would help Shake Shack, which has been battered by a loss of office workers and tourists. Setyan noted that Shake Shack had been one of the best growth stocks in the restaurant industry before the pandemic, and said that the earlier sell-off this year added to the stock's growth potential. See the 10 stocks *Stock Advisor returns as of August 1, 2020 Jeremy Bowman has no position in any of the stocks mentioned. | What happened Shake Shack (NYSE: SHAK) climbed 41% last month, according to data from S&P Global Market Intelligence as the fast-casual burger chain bounced back from a weak earnings report at the end of July, and gained on an analyst upgrade and bullish sentiment for fast-food stocks. As you can see from the chart below, the stock climbed steadily through August and then surged at the end of the month on enthusiasm about a new rapid COVID-19 test that could bring back restaurant customers. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Shake Shack wasn't one of them! | 7839ec2b-466e-4992-947d-2eeffa7b0bcd |
32470.0 | 2020-09-01 00:00:00 UTC | Trump administration sending rapid COVID tests to states, CDC bars evictions | ABT | https://www.nasdaq.com/articles/trump-administration-sending-rapid-covid-tests-to-states-cdc-bars-evictions-2020-09-01 | nan | nan | By Dan Whitcomb
Sept 1 (Reuters) - The Trump administration will send most of its newly purchased 150 million rapid COVID-19 tests to U.S. states for schools and critical services, a White House official said on Tuesday, as New York City pushed back reopening classrooms in a deal with union leaders.
The moves came as The U.S. Centers for Disease Control and Prevention on Tuesday issued a sweeping order temporarily halting landlords across the nation from evicting millions of tenants in what it said was an effort to reduce the spread of coronavirus.
The order covers all 43 million U.S. residential renters as long as they meet income eligibility requirements, although an administration official said the government does not expect an "overwhelming" use of the program.
The daily number of infections has been in decline across most of the United States in recent weeks, with 36,263 reported on Monday, less than half of the mid-July peak, according to a Reuters tally.
Exceptions include Midwest states such as South Dakota, where hundreds of thousands of motorcycle riders gathered for a rally in August, and Iowa.
A total of more than 183,000 people have died so far from complications of COVID-19, including 32,647 in New York and nearly 16,000 in New Jersey, the U.S. states with the highest death tolls.
In announcing that the "overwhelming majority" of 150 rapid antigen tests purchased from Abbot Laboratories ABT.N would be sent to state governors, U.S. Health and Human Services Assistant Secretary Admiral Brett Giror said top priorities included day care centers and first responders L1N2FY1SE
The portable tests can deliver results within 15 minutes and will sell for $5. They require no additional equipment, and can use a less invasive nasal swab than traditional lab tests.
President Donald Trump has pushed for schools across the country to reopen classrooms, but many districts have ordered students to stay home and learn online.
Among them are Los Angeles and San Diego Counties, the second and third-largest school districts in the nation respectively.
In New York City, Mayor Bill de Blasio said an agreement had been reached with reluctant teachers union leaders to reopen school buildings to students on September 21 as part of his plan for a mix of in-class and remote learning. L1N2FY106
"What we’ve agreed to is to make sure that the health measures are in place, to make sure there is time for the appropriate preparation for our educators," de Blasio said at a news briefing.
Earlier this week New Jersey and California eased some restrictions imposed in the face of the pandemic, allowing restaurants to begin limited indoor dining.
New York City's mayor has ruled out allowing restaurants to serve diners indoors anytime soon.
(Reporting by Dan Whitcomb, Vishwadha Chander, Carl O'Donnell, Peter Szekely, Maria Caspani and David Shepardson; Editing by Bill Tarrant and Michael Perry)
((Dan.Whitcomb@tr.com; 310-491-7290;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In announcing that the "overwhelming majority" of 150 rapid antigen tests purchased from Abbot Laboratories ABT.N would be sent to state governors, U.S. Health and Human Services Assistant Secretary Admiral Brett Giror said top priorities included day care centers and first responders L1N2FY1SE The portable tests can deliver results within 15 minutes and will sell for $5. By Dan Whitcomb Sept 1 (Reuters) - The Trump administration will send most of its newly purchased 150 million rapid COVID-19 tests to U.S. states for schools and critical services, a White House official said on Tuesday, as New York City pushed back reopening classrooms in a deal with union leaders. The moves came as The U.S. Centers for Disease Control and Prevention on Tuesday issued a sweeping order temporarily halting landlords across the nation from evicting millions of tenants in what it said was an effort to reduce the spread of coronavirus. | In announcing that the "overwhelming majority" of 150 rapid antigen tests purchased from Abbot Laboratories ABT.N would be sent to state governors, U.S. Health and Human Services Assistant Secretary Admiral Brett Giror said top priorities included day care centers and first responders L1N2FY1SE The portable tests can deliver results within 15 minutes and will sell for $5. By Dan Whitcomb Sept 1 (Reuters) - The Trump administration will send most of its newly purchased 150 million rapid COVID-19 tests to U.S. states for schools and critical services, a White House official said on Tuesday, as New York City pushed back reopening classrooms in a deal with union leaders. President Donald Trump has pushed for schools across the country to reopen classrooms, but many districts have ordered students to stay home and learn online. | In announcing that the "overwhelming majority" of 150 rapid antigen tests purchased from Abbot Laboratories ABT.N would be sent to state governors, U.S. Health and Human Services Assistant Secretary Admiral Brett Giror said top priorities included day care centers and first responders L1N2FY1SE The portable tests can deliver results within 15 minutes and will sell for $5. By Dan Whitcomb Sept 1 (Reuters) - The Trump administration will send most of its newly purchased 150 million rapid COVID-19 tests to U.S. states for schools and critical services, a White House official said on Tuesday, as New York City pushed back reopening classrooms in a deal with union leaders. In New York City, Mayor Bill de Blasio said an agreement had been reached with reluctant teachers union leaders to reopen school buildings to students on September 21 as part of his plan for a mix of in-class and remote learning. | In announcing that the "overwhelming majority" of 150 rapid antigen tests purchased from Abbot Laboratories ABT.N would be sent to state governors, U.S. Health and Human Services Assistant Secretary Admiral Brett Giror said top priorities included day care centers and first responders L1N2FY1SE The portable tests can deliver results within 15 minutes and will sell for $5. By Dan Whitcomb Sept 1 (Reuters) - The Trump administration will send most of its newly purchased 150 million rapid COVID-19 tests to U.S. states for schools and critical services, a White House official said on Tuesday, as New York City pushed back reopening classrooms in a deal with union leaders. President Donald Trump has pushed for schools across the country to reopen classrooms, but many districts have ordered students to stay home and learn online. | 6d4518cc-7cf2-4733-8dc5-3312d7238adf |
32471.0 | 2020-09-01 00:00:00 UTC | In Canada, airlines face uphill climb to replace quarantines with COVID-19 testing | ABT | https://www.nasdaq.com/articles/in-canada-airlines-face-uphill-climb-to-replace-quarantines-with-covid-19-testing-2020-09 | nan | nan | By Allison Lampert and Allison Martell
MONTREAL/TORONTO, Sept 1 (Reuters) - Transport Canada is holding early talks with airlines to introduce COVID-19 testing at airports, but the day when such tests could become an alternative to the quarantines decimating travel could still be far off, sources familiar with the discussions said.
The airline-led talks come as Air Canada AC.TO and WestJet introduce their own testing plans for Toronto and Vancouver airports, respectively this fall.
The use of airport testing to reduce or eliminate Canada's strict two-week self quarantine rule would be logistically challenging as it would require cooperation from airports, airlines, federal and provincial health authorities, the sources said.
And government-approved lab tests that largely take 24 to 48 hours to deliver results would need to be used, making them impractical for airport departures, they added.
Canada has faced pressure from airlines to change its travel restrictions, with the country's borders now closed to all noncitizens except for essential workers.
"The airlines have a vested interest in seeing this happen," one of the source said. "But there is no guarantee that Canada would choose to lift the 14-day quarantine even if testing were able to take place at airports."
Globally, carriers and airports largely back testing to replace quarantines, with a U.N. aviation task force expected to weigh in on one industry proposal at a Sept. 15 meeting, airline group IATA said.
IATA and Airports Council International (ACI) support the use of PCR (polymerase chain reaction) tests 48 hours ahead of departure from high-risk countries, since rapid tests are not seen as reliable or widely accepted by regulators.
Health Canada has changed its position on home tests and is now willing to consider approving rapid home COVID-19 tests.
Last week U.S. regulators approved a rapid test from Abbott Laboratories ABT.N but it is currently approved only for people who have symptoms.
WestJet and Vancouver International Airport have not yet finalized joint plans announced last week to test some departing passengers.
Tamara Vrooman, chief executive of the Vancouver airport, said one possibility was for the facility to be certified as a lab, but "we're still examining that."
Air Canada declined comment.
Canada's Chief Public Health Officer Theresa Tam said on Friday her agency was looking at "options going forward and reducing the more restrictive measures at the border."
Health officials are also considering the timing of the test, since travelers coming to Canada might have a negative result if they were infected only one or two days prior.
Transport Canada said it is committed to "working with other federal partners to explore COVID testing at airports upon arrival."
(Reporting By Allison Lampert in Montreal and Allison Martell in Toronto; Editing by Bill Berkrot and Tom Brown)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Last week U.S. regulators approved a rapid test from Abbott Laboratories ABT.N but it is currently approved only for people who have symptoms. The airline-led talks come as Air Canada AC.TO and WestJet introduce their own testing plans for Toronto and Vancouver airports, respectively this fall. Globally, carriers and airports largely back testing to replace quarantines, with a U.N. aviation task force expected to weigh in on one industry proposal at a Sept. 15 meeting, airline group IATA said. | Last week U.S. regulators approved a rapid test from Abbott Laboratories ABT.N but it is currently approved only for people who have symptoms. By Allison Lampert and Allison Martell MONTREAL/TORONTO, Sept 1 (Reuters) - Transport Canada is holding early talks with airlines to introduce COVID-19 testing at airports, but the day when such tests could become an alternative to the quarantines decimating travel could still be far off, sources familiar with the discussions said. The airline-led talks come as Air Canada AC.TO and WestJet introduce their own testing plans for Toronto and Vancouver airports, respectively this fall. | Last week U.S. regulators approved a rapid test from Abbott Laboratories ABT.N but it is currently approved only for people who have symptoms. By Allison Lampert and Allison Martell MONTREAL/TORONTO, Sept 1 (Reuters) - Transport Canada is holding early talks with airlines to introduce COVID-19 testing at airports, but the day when such tests could become an alternative to the quarantines decimating travel could still be far off, sources familiar with the discussions said. The use of airport testing to reduce or eliminate Canada's strict two-week self quarantine rule would be logistically challenging as it would require cooperation from airports, airlines, federal and provincial health authorities, the sources said. | Last week U.S. regulators approved a rapid test from Abbott Laboratories ABT.N but it is currently approved only for people who have symptoms. By Allison Lampert and Allison Martell MONTREAL/TORONTO, Sept 1 (Reuters) - Transport Canada is holding early talks with airlines to introduce COVID-19 testing at airports, but the day when such tests could become an alternative to the quarantines decimating travel could still be far off, sources familiar with the discussions said. The airline-led talks come as Air Canada AC.TO and WestJet introduce their own testing plans for Toronto and Vancouver airports, respectively this fall. | 6572590a-3ff2-4851-8215-99491648e083 |
32472.0 | 2020-09-01 00:00:00 UTC | Why Abbott Stock Is Up | ABT | https://www.nasdaq.com/articles/why-abbott-stock-is-up-2020-09-01 | nan | nan | In this episode of MarketFoolery, host Chris Hill chats with analyst Jim Gillies about the latest headlines and earnings reports from Wall Street. They bring you a new development in COVID-19 testing and talk about two medical device companies. They also discuss two stocks at the high and low end of the retail spectrum, as well as some some banks.
To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing in stocks. A full transcript follows the video.
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This video was recorded on Aug. 27, 2020.
Chris Hill: It's Thursday, Aug. 27th. Welcome to MarketFoolery. I'm Chris Hill, with me today from the Great White North, it's Jim Gillies. Good to see you my friend.
Jim Gillies: Good to be seen, Chris. Thank you.
Hill: We have got the high and the low end of retail, we're going to talk about that; we're going to talk banks. We're going to start today with Abbott Labs, because the FDA has approved Abbott Labs' rapid COVID-19 test. It is a portable test, it costs $5, you get the results in 15 minutes. This is not a home kit; this is one that does need to be administered by a medical professional. But the enthusiasm is apparent, shares of Abbott Labs up 7% and hitting a new all-time high.
Gillies: Well, yes, and the follow-on to that, Chris, is not only is Abbott up, but companies in the COVID testing space, one being, that I follow, Fulgent Genetics, they are getting taken behind the woodshed. I believe Fulgent, last I looked, was down about 30%, because apparently Abbott's test, as you mentioned here, again $5/person, you get your results in 15 minutes, there's a complementary mobile app that is being made available for iPhone and Android, of course, at no charge. It's going to let people who are tested negative, are going to display a temporary digital health pass, so they'll be able to, kind of, have a clean slate, if you will. This is certainly perceived as a game-changer by investors and other companies, because Fulgent does genetic testing and they've had a lot of success recently in their stock price, at least, because of COVID testing.
And, yeah, game-changer? Yes. I can tell you, my partner, for example, was sick about a month, a month and a half ago, went for a test and basically we had to go to a walk-in testing center, only took about 20 minutes, but she then got to spend three days in the master bedroom suite alone and isolated from everyone, the dog was there to keep her happy. But you know, because that's how long it took to get things. So, 15 minutes; yeah, if this works, it is being fast-tracked, but certainly, the initial numbers certainly look promising. And in the absence of the proverbial vaccine that will set all of life back to normal, which I am a little skeptical of, but in the absence of vaccines, these types of solutions, these types of rapid testing, you know, these are probably the best chance at returning to some semblance of a new normal. So, good on Abbott, and unfortunate, if you've been anywhere else in the space, I'm guessing.
Hill: Obviously, we're all hoping for a vaccine, but you're absolutely right that rapid testing is the first and most important step to, I don't want to say "getting back to normal," because I don't think we're ever going to get back [laughs] to normal, but getting closer, getting a lot closer. And I think that, as you said, the speed, Abbott's reputation. Am I wrong to be surprised by the drop in Fulgent Genetics' stock price, I guess I never -- in the same way that people much smarter than me have talked about the vaccine and have said things like, look, we're going to need a bunch of different companies producing the vaccine, so don't look for one -- you know, because everyone, from an investing standpoint, it's a natural ask, well, who's going to produce the vaccine, I want to invest in them. It's like, look, we're going to need a lot of companies to produce this vaccine. I just assumed it was the same case for testing as well, the pairs trade that is happening today with the rise in Abbott Labs hitting a new high and Fulgent Genetics shares falling through the floor seems to indicate that rapid testing is a zero-sum game. I never thought of it that way.
Gillies: Well, I mean, Fulgent, and it's not Fulgent, I'm using it as an example because I'm reasonably familiar with them, we recommended them in Canada in a couple of Canadian services closer to the $20 level, so we're still up, but today kind of hurts. The game-changer here is, I can have results from the Abbott test, in theory I can have it in 15 minutes. You know, I can have it on a coffee break. And with Fulgent, you'd still have to send it in and they were doing the test. We liked Fulgent as a business before COVID, we liked it before this -- we liked this for their genetic testing business, and then when COVID comes along and the stock skyrockets, I mean, this is a bonus. But you know, that was never the investing thesis, but for us in the high teens; for people coming to it, I'm guessing in the $40s, that was the investing thesis, and Abbott has come out with a better mousetrap. And so, you know, where you talk about the vaccine, yeah, you're exactly right, it's going to be -- there's all kinds of candidates out there currently under testing.
Some will work better than others, some will be...and I also think anybody who comes up with the successful vaccine, they're not going to make any money out of it, because you know, I mean, there's going to be a lot of pressure to get this out and get it for the good of humanity kind of thing. So, I'm not sure chasing who is going to provide you the vaccine is really a great investing play, even if you could identify it.
Hill: Let's move on to retail. And from a consumer standpoint, I think we have both ends of the spectrum, with the second-quarter reports from Dollar General and Tiffany. And you can see it in the -- look, there are always a lot of metrics to look at, but if you're just going to look at same-store sales, same-store sales for Tiffany, their second quarter, down close to 25%. Dollar General, I think was up in the neighborhood of 10%...
Gillies: 19%.
Hill: What's that?
Gillies: They were up 18.8%.
Hill: Oh, thank you for paying closer attention to these numbers than I did. And you know, and if all you were doing was just looking at, like, well, what is the stock is doing today? Tiffany is up a little bit; Dollar General is flat to down ever so slightly. That is not an indication of, [laughs] sort of, how these businesses have been doing in 2020 and over the past year.
Gillies: No, I mean, I found that these were two separate headlines this morning. And I found this diversion fascinating, before the market opened, and I find it equally fascinating now that Tiffany is up and Dollar General is kind of sliding sideways.
Yeah. So, Tiffany, the same-store sales there were -24%, but the key part was analysts had forecast that they would be negative. Analysts correctly said, you know, pandemic, bad economy, people losing their jobs, people scared about the future or people scared about money, probably not beating a path to Tiffany's door to buy the $500 stainless steel baby rattle. That's a real product, by the way.
Hill: I know that's a real product.
Gillies: Or teething ring or whatever. Yeah, so my ex-spouse may have bought one of those. But the expectations that analysts had for same-store sales were down 17%, and Tiffany managed to blow past that [laughs] by a third, down -24%. Their revenue missed analysts expected consensus. And again, it's important to note, analysts had already dropped their expectations a number of times, Tiffany missed that, earnings were, I think, flat roughly with what was expected.
At the other end, there is Dollar General, analysts expected 14%, 13%, they came in nearly 19%, as I said. They blew away the already raised expectations for earnings and for revenues. And again, people, during this difficult time, are flocking for, like, basics and necessities to places like Dollar General. They're ignoring Tiffany. One company blows the door off on already higher expectations, the other one misses badly on already lowered expectations. And I mean, if there's a better depiction of what's going on in the retail space, I'm not sure we could have had a better example today. And yet, we have this strange market reaction, which I'm like, huh...
I think, we talked earlier about the concept of the new normal or getting back to normal, I'm not sure that the surge in the results for Dollar General or places like Walmart or places like Home Depot, both of which as well, when they reported, did far better than expectations, and the stocks were, meh. I don't think we're going to abandon those names, the value names anytime soon, regardless of how the new normal looks. So, I think this is a really interesting case study, and I'm a little shocked to see how it's playing out.
Hill: So, the business epiphany of the week for me last week was coming to the realization that Target's market cap was less than $80 billion. I don't know what number I had in my head, but I know it was [laughs] triple digits. And looking at all of the moves that Target has made, I don't own shares of Target, but it is now absolutely on my watch list, just because I think, Brian Cornell and his team have done a great job. And just from a size standpoint, I think they have a lot of room to run.
To your point, Dollar General is only a $50 billion company. And Emily Flippen pointed this out the other day, [laughs] we're living in a world where Apple is over $2 trillion, we're going to have other companies go over $2 trillion; companies are going to get bigger, that's just how it's going to be. So, yeah, I look at the way Dollar General is performing, and to your point, maybe there is a point in the future, in 2021, 2022 or beyond, when Tiffany has some blowout quarter because people are celebrating, [laughs] you know, the return to the new normal, maybe that quarter is coming for them somewhere down the line. But until then, the move to good, basic value, when it comes to products and things you want in your home, I think that's going to continue for the Targets and the Dollar Generals of the world.
Gillies: Yeah, two votes, absolutely.
Hill: Quick programming note. This weekend on Motley Fool Money, Matt Argersinger is our guest. He's the lead advisor of Millionacres, which is The Motley Fool's real estate investing service. I had a great conversation with him the other day. A lot of [laughs] interesting things happening in commercial real estate right now, to say the least. So, check that out this weekend.
Before we go, I wanted to just chat briefly about the big banks in Canada. You and I were going back and forth a little bit this morning. They've all reported. How did they do as a group? Because in the past when you and I have talked about Scotiabank [Bank of Nova Scotia] and others, you've laid out a pretty good case for them, I think, particularly relative to the big banks in America, which have the whole investment side -- it just seems like the Canadian big banks are a little bit clearer in terms of being able to understand them.
Gillies: Right. And these are, kind of, your classic widows and orphan stocks, you know, that's how they're perceived here in Canada. They've all got their fingers in all of the standard pies. You know, there's the typical banking, what we think of as typical banking, and there is mortgage lending and there's the insurance operations and there are investment arms, you know, they've all got or most of them have, small investment bank exposure, nothing compared to what the U.S. has. But there's also a lot of investing arms in terms of, hey, we'll sell you our mutual funds kind of thing.
But what's interesting about the Canadian banks and we saw this in 2008, OK, where as the financial crisis spiraled around, there was this -- and of course, and all kinds of banks in the U.S., much smaller banks, of course, went insolvent. All kinds of banks in the U.S. cut their dividends, sometimes sharply. And the Canadian banks all got sold off on the same thesis that this is going to happen to us. And some of us, voices in the wilderness from time to time, we're saying, no, no, no, you don't understand how Canadian banks are treated here. They are classic widows and orphans; they tend to be very conservative with what they do.
And so, yes, the market value is down, you had some incredible yields on their dividend, but we're like, look, they're not going to cut their dividends, they'll raise capital to support their dividends, they'll be fine. And that thesis was borne out at a time that I think was worse than we have now.
But earlier this year, so flash-forward to 2020, we started seeing the same things we heard back in 2008-2009, which was, this is bad, they're going to cut their dividends, some of them are going to go insolvent, you could find a couple of well-known short-sellers out there who have a very negative view on the Canadian banks. And, again, I was kind of saying the exact same thing, even as we had a couple of days in March where these big widows-and-orphans style staid companies were down 10% and 11% and 12% in a day, which is, you know, a little bit rough if most of your kids' education plan is invested in them.
But it's the same deal. They're going to protect their dividends; they are going to get through this. And so, what we've seen now -- this was probably, it's the second, technically the second, earnings report we've seen during the COVID-era, but practically to a company, they've all said, yeah, this is as bad as it's going to get, our loan loss provisions, we've peaked, we're now on the way down. They all practically, except for Scotiabank, which perennially seems to be a little bit off-step, but they've all basically beat lowered expectations, but they still were strong. They've all said basically, we're kind of done with the elevated loan loss provisions. They all made up a lot of the lowered business on one side with capital markets activity, trading activity, some deal-making, and they're coming through pretty good. Now, they've recovered somewhat from their March lows, but even today, if you go with the standard big five, so it's Bank of Montreal, Bank of Nova Scotia, CIBC, Royal Bank, and Toronto-Dominion or TD, all of which, except for Bank of Nova Scotia, also have U.S. operations and they're all traded on the U.S. as well.
The average dividend yield today of these is 5.2%. There's a sixth bank called National Bank, which would like to be one of the big six, but meh, they're called big five...
Hill: ...they're not going to let him in the club. [laughs]
Gillies: They're still small, they tend to be fairly regional in Quebec. They're a good company, I own shares myself, but you know, they're kind of the pretender to the throne. But they'd like to be among the big six, but for now, we tend to call it the big five. The big five are averaging today a dividend yield of 5.2%. Importantly, none of them has cut their dividends, none of them has raised their dividends. I wouldn't be shocked to see a raise in the back half of 2021, say, they start raising their dividends again. But right now, average yield, 5.2%. The average price-to-book is about 1.3 for the big five, and the average forward earnings multiple is about 10.5.
So, these are all, traditionally these are good numbers to start positions in these banks. And as I've said, you're not going to get a multibagger on this unless you live a long time, but you're going to get a solid performer, dividend, plus 5% to 10% capital appreciation, probably, annually.
Hill: And I was just going to say, for anyone who owns a 10-year Treasury note, [laughs] can I interest you in a dividend of 5.2%? I mean, that alone is -- you know, as you said, look, these are not going to be multibaggers, but holy cow! For anyone who's like, I'm thinking about putting 5% into bonds. OK, you can do that, can I interest you in some Canadian banks?
Gillies: Well, and there's even vehicles out there, Chris. There are ETFs which hold a basket of these. So, if you don't want to replicate it yourself and buy all five, or all six, you can buy an ETF that already has this. And the dividends basically pass through. Now, you're going to pay a fee for an ETF, of course. So, maybe it's a good idea to buy a basket of these on your own. But I mean, the point is, yeah, in a world, if you have a portion of your portfolio that you're looking to use and gain yield, historically, these are a great place to start.
Hill: Jim Gillies, always good talking to you, thanks for being here.
Gillies: Thank you very much.
Hill: As always, people on the program may have interests in the stocks they talk about, and The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear.
That's going to do it for this edition of MarketFoolery. The show is mixed by Dan Boyd, I'm Chris Hill, thanks for listening, we'll see you on Monday.
Chris Hill has no position in any of the stocks mentioned. Jim Gillies owns shares of Apple and has the following options: short January 2021 $150 puts on Apple. The Motley Fool owns shares of and recommends Apple, Fulgent Genetics, Inc., and Home Depot and recommends the following options: long January 2021 $120 calls on Home Depot and short January 2021 $210 calls on Home Depot. 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 this episode of MarketFoolery, host Chris Hill chats with analyst Jim Gillies about the latest headlines and earnings reports from Wall Street. I believe Fulgent, last I looked, was down about 30%, because apparently Abbott's test, as you mentioned here, again $5/person, you get your results in 15 minutes, there's a complementary mobile app that is being made available for iPhone and Android, of course, at no charge. But earlier this year, so flash-forward to 2020, we started seeing the same things we heard back in 2008-2009, which was, this is bad, they're going to cut their dividends, some of them are going to go insolvent, you could find a couple of well-known short-sellers out there who have a very negative view on the Canadian banks. | In this episode of MarketFoolery, host Chris Hill chats with analyst Jim Gillies about the latest headlines and earnings reports from Wall Street. Analysts correctly said, you know, pandemic, bad economy, people losing their jobs, people scared about the future or people scared about money, probably not beating a path to Tiffany's door to buy the $500 stainless steel baby rattle. The Motley Fool owns shares of and recommends Apple, Fulgent Genetics, Inc., and Home Depot and recommends the following options: long January 2021 $120 calls on Home Depot and short January 2021 $210 calls on Home Depot. | Hill: Obviously, we're all hoping for a vaccine, but you're absolutely right that rapid testing is the first and most important step to, I don't want to say "getting back to normal," because I don't think we're ever going to get back [laughs] to normal, but getting closer, getting a lot closer. Am I wrong to be surprised by the drop in Fulgent Genetics' stock price, I guess I never -- in the same way that people much smarter than me have talked about the vaccine and have said things like, look, we're going to need a bunch of different companies producing the vaccine, so don't look for one -- you know, because everyone, from an investing standpoint, it's a natural ask, well, who's going to produce the vaccine, I want to invest in them. Because in the past when you and I have talked about Scotiabank [Bank of Nova Scotia] and others, you've laid out a pretty good case for them, I think, particularly relative to the big banks in America, which have the whole investment side -- it just seems like the Canadian big banks are a little bit clearer in terms of being able to understand them. | In this episode of MarketFoolery, host Chris Hill chats with analyst Jim Gillies about the latest headlines and earnings reports from Wall Street. And so, you know, where you talk about the vaccine, yeah, you're exactly right, it's going to be -- there's all kinds of candidates out there currently under testing. Hill: Jim Gillies, always good talking to you, thanks for being here. | 61a72541-46fa-4b49-8a82-c0b6f74b5915 |
32473.0 | 2020-09-01 00:00:00 UTC | Abbott Announces Availability Of FreeStyle Libre 2 ICGM System For Medicare Patients | ABT | https://www.nasdaq.com/articles/abbott-announces-availability-of-freestyle-libre-2-icgm-system-for-medicare-patients-2020 | nan | nan | (RTTNews) - Abbott (ABT) announced the company's next-generation FreeStyle Libre 2 integrated continuous glucose monitoring system is now available to Medicare patients. It is now accessible to all Medicare patients with diabetes who meet the eligibility criteria. Abbott noted that its FreeStyle Libre 2 system is priced 70% lower than other available continuous glucose monitoring devices.
The FreeStyle Libre 2 Flash Glucose Monitoring System is a continuous glucose monitoring device with real time alarms capability indicated for the management of diabetes in persons age 4 and older.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott (ABT) announced the company's next-generation FreeStyle Libre 2 integrated continuous glucose monitoring system is now available to Medicare patients. Abbott noted that its FreeStyle Libre 2 system is priced 70% lower than other available continuous glucose monitoring devices. The FreeStyle Libre 2 Flash Glucose Monitoring System is a continuous glucose monitoring device with real time alarms capability indicated for the management of diabetes in persons age 4 and older. | (RTTNews) - Abbott (ABT) announced the company's next-generation FreeStyle Libre 2 integrated continuous glucose monitoring system is now available to Medicare patients. Abbott noted that its FreeStyle Libre 2 system is priced 70% lower than other available continuous glucose monitoring devices. The FreeStyle Libre 2 Flash Glucose Monitoring System is a continuous glucose monitoring device with real time alarms capability indicated for the management of diabetes in persons age 4 and older. | (RTTNews) - Abbott (ABT) announced the company's next-generation FreeStyle Libre 2 integrated continuous glucose monitoring system is now available to Medicare patients. The FreeStyle Libre 2 Flash Glucose Monitoring System is a continuous glucose monitoring device with real time alarms capability indicated for the management of diabetes in persons age 4 and older. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott (ABT) announced the company's next-generation FreeStyle Libre 2 integrated continuous glucose monitoring system is now available to Medicare patients. Abbott noted that its FreeStyle Libre 2 system is priced 70% lower than other available continuous glucose monitoring devices. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 9b5d3d36-88b6-4073-a916-9e40dbc1d05e |
32474.0 | 2020-09-01 00:00:00 UTC | Forget Johnson & Johnson, AbbVie Is a Better Dividend Stock | ABT | https://www.nasdaq.com/articles/forget-johnson-johnson-abbvie-is-a-better-dividend-stock-2020-09-01 | nan | nan | Dividend stocks are great for long-term investors who want to sit back and watch secondary income accumulate. Dividend investing can be a great way to supplement returns, especially over longer periods of time once you've accumulated a nice number of paying stocks in your portfolio. In the midst of the biggest recession since 2008, it's more important than ever to load up on safe and reliable stocks that will stand the test of time. A dividend is just one signal of a company's longevity and future value.
One healthcare stock that dividend investors gravitate toward is Johnson & Johnson (NYSE: JNJ). The big-name drugmaker pays a decent and regular yield: It's been growing payouts for decades and its drug pipeline and consumer goods businesses are solid. But perhaps there's an even better option for dividend investors in pharmaceutical company AbbVie (NYSE: ABBV). Here's why:
AbbVie's dividend yield is much higher -- and likely to stay that way
Today, J&J pays its shareholders a quarterly dividend of $1.01 for an annual yield of 2.6%, which is well above the S&P 500 average of 2%. AbbVie, however, pays a quarterly dividend of $1.18, which annually yields over 5% at current share prices. This is significantly higher than J&J's yield, such that if you were to invest $10,000 in both stocks, AbbVie's annual payouts would be $240 higher. Even if you factor in each company's historical dividend growth, that gap isn't likely to narrow.
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Unless J&J's share price falls sharply to where its dividend yield increases significantly (or the reverse happens to AbbVie), it's unlikely that J&J's dividend will bridge the gap. Both of these companies have long histories of paying dividends. J&J is a Dividend King, having raised payouts for 58 years in a row. AbbVie is still a Dividend Aristocrat, having increased dividend payments for more than 40 straight years if you include its time as a part of Abbott Labs.
J&J has increased its dividend payments by 34.7% from the $0.75 it was distributing to shareholders five years ago. Its rise averages to a compound annual growth rate (CAGR) of 6.1%. In contrast, AbbVie's payouts are more than double the $0.51 it was paying in 2015, and sport a CAGR of 18.3%.
AbbVie's most recent payout increase was a modest 10.3%, though still higher than the 6.3% that J&J hiked its payouts by earlier this year. Unless there's a significant change in dividend policies from either of these two companies, it is unlikely that J&J's dividend and yield will best AbbVie's anytime soon.
AbbVie's dividend is at less risk in the long-term
Another reason income investors should opt for AbbVie's dividend? It's growing, and not really at risk of slowing down.
On May 8, the company completed a $63 billion acquisition of Botox-maker Allergan. The move leaves AbbVie a more reliable long-term buy, as the deal diversified the pharma company's business. Currently, AbbVie relies on Humira, a biologic used to treat arthritis, psoriasis, and Crohn's disease for 50% of its sales. The deal with Allergan renders AbbVie's business opportunities safer, and makes room for the company to continue growing its dividend payouts at a high rate.
Even without the new acquisition, an ability to increase its dividend probably would not be a huge concern for AbbVie. The company has reported positive free cash flow in each of the past 10 quarters in amounts far higher than the sum paid out in dividends. Last year, dividend payments amounted to about 47% of its total operating cash flow.
This is not to say that J&J has had trouble maintaining its dividend either. It's also generated positive free cash flow in each of the past 10 quarters, and has had more than enough to cover its dividend payments, which amount to about $9.9 billion annually. In 2019, J&J's dividend payments comprised about 42% of its own operating cash flow.
One of the biggest concerns that investors have with J&J is the company's legal turmoil. Over the past few years, it has faced lawsuits surrounding the antipsychotic drug Risperdal, talc baby powder, and most notably, its role in the opioid crisis. In 2019, the company incurred $5.1 billion in litigation expenses, more than double the $2 billion it recorded in the previous year. While its dividend remains safe today, future litigation could become a problem for the New Jersey-based company, especially if expenses continue to rise and new suits are filed. If J&J is consistently spending billions in court, keeping up its dividend payments at its current rate could be a challenge.
Both of these companies are in similar boats due to COVID-19. In J&J's second-quarter results, released on July 16 for the period ended June 28, sales of $18.3 billion were down by 10.8% year over year. Earnings per share (EPS) of $1.36 also declined by 34.6% from the year-prior period.
AbbVie released its second-quarter results on July 31 for the period ended June 30. Its sales of $10.4 billion were down 5.3% on a comparable operational basis. Sales were technically up 26.3%, but that was largely due to the integration of Allergan into the results. EPS was negative $0.46, compared to positive $0.49 for the same period last year. The company incurred $777 million in acquisition-related expenses during the quarter, which weighed on its bottom line.
AbbVie is the way forward for income investors
Although J&J is a Dividend King, that's not enough for it to prove the better buy when compared to AbbVie. An investor's job is made trickier by the fact that both of these healthcare stocks appear similar in their returns this year:
ABBV data by YCharts
Neither company has quite outperformed the S&P 500, although both are stable, value investments. But with a better payout and a strong, perhaps less perilous future, AbbVie looks to be the better immediate option for dividend 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. | The big-name drugmaker pays a decent and regular yield: It's been growing payouts for decades and its drug pipeline and consumer goods businesses are solid. The deal with Allergan renders AbbVie's business opportunities safer, and makes room for the company to continue growing its dividend payouts at a high rate. An investor's job is made trickier by the fact that both of these healthcare stocks appear similar in their returns this year: ABBV data by YCharts Neither company has quite outperformed the S&P 500, although both are stable, value investments. | AbbVie, however, pays a quarterly dividend of $1.18, which annually yields over 5% at current share prices. In J&J's second-quarter results, released on July 16 for the period ended June 28, sales of $18.3 billion were down by 10.8% year over year. AbbVie released its second-quarter results on July 31 for the period ended June 30. | Here's why: AbbVie's dividend yield is much higher -- and likely to stay that way Today, J&J pays its shareholders a quarterly dividend of $1.01 for an annual yield of 2.6%, which is well above the S&P 500 average of 2%. Unless there's a significant change in dividend policies from either of these two companies, it is unlikely that J&J's dividend and yield will best AbbVie's anytime soon. AbbVie's dividend is at less risk in the long-term Another reason income investors should opt for AbbVie's dividend? | Here's why: AbbVie's dividend yield is much higher -- and likely to stay that way Today, J&J pays its shareholders a quarterly dividend of $1.01 for an annual yield of 2.6%, which is well above the S&P 500 average of 2%. AbbVie, however, pays a quarterly dividend of $1.18, which annually yields over 5% at current share prices. Its sales of $10.4 billion were down 5.3% on a comparable operational basis. | c9bbb579-bbcd-4301-93fd-02f344c03c31 |
32475.0 | 2020-09-01 00:00:00 UTC | Medtronic Stock Looks Attractive At $107 | ABT | https://www.nasdaq.com/articles/medtronic-stock-looks-attractive-at-%24107-2020-09-01 | nan | nan | Despite a 46% rise since the March 23 lows of this year, at the current price of around $107 per share we believe Medtronic’s stock (NYSE: MDT) looks attractive and it has more room for growth. MDT stock has moved from $73 to $107 off the recent bottom compared to the S&P which moved 55%, with the resumption of economic activities as lockdowns are gradually lifted. MDT stock has partially recovered to the levels it was at before the drop in February due to the coronavirus outbreak becoming a pandemic. Furthermore, MDT stock is also up 21% from levels seen in early 2019.
Most of the 21% rise can be attributed to the 26% expansion of its P/E multiple, while its revenues and earnings saw a slight decline. Medtronic’s revenues declined 3.5% from $30.0 billion to $28.9 billion between fiscal 2018 and fiscal 2020 (fiscal ends in April), and this translated into a similar decline in Non-GAAP EPS, as a low single-digit decline in net income margin was offset by a similar decline in total shares outstanding. We believe the stock is likely to see more upside despite the recent uptick and the potential weakness from a recession driven by the Covid outbreak. Our dashboard, ‘What Factors Drove 21% Change in Medtronic Stock between 2018 and now?‘, has the underlying numbers.
Medtronic’s P/E multiple changed from 18x in 2018 to 21x in 2019. While the company ‘s P/E is 23x now, there is a potential upside when we look at forward earnings growth.
So what’s the likely trigger and timing for further upside?
The global spread of coronavirus has resulted in postponement of elective surgeries, especially in the quarter just ended, as health care institutions primarily focus on Covid-19 and other emergency cases. This directly impacts the business of Medtronic, which makes implantable mechanical devices, drug and biologic delivery devices, and powered and advanced energy surgical instruments used in the medical field. Medtronic’s recently reported Q1 fiscal 2021 results confirmed the hit to its revenues, with a 13% decline. The company’s margins also declined resulting in Non-GAAP earnings to halve to $0.62, compared to $1.26 in the prior year quarter. Note that these results were much better than street estimates, and MDT stock has rallied 7% since the results announcement on Aug 25.
That said, we believe this is a transient phase for the medical devices industry, and most of the surgeries being postponed will eventually be attended to by the healthcare institutions, as once advised for a surgery, it is unlikely that anyone will want to cancel it. In fact, healthcare institutions have to deal with a massive backlog, which is estimated to be over a million surgeries only for joint replacement and spine cases in the US post-pandemic.
While Medtronic stock appears expensive when compared to its historical P/E multiple of 21x in 2019, it is trading at 19x its estimated earnings for fiscal 2022, when the company expects the business to return to normalcy. This is much lower when compared to 28x P/E multiple for Abbott and 25x for Boston Scientific, based on forward earnings. Interestingly, Medtronic’s Net Margins (Non-GAAP) at over 21% in fiscal 2020 are higher than 18% for Abbott and in-line with 21% for Boston Scientific in 2019.
Overall, we believe that Medtronic will likely see steady revenue and earnings growth over the coming years, and the stock trading at just 18x its fiscal 2022 expected earnings appears to be an attractive level for investors wiling to invest for the long-term.
Looking at the broader economy, over the coming weeks, we expect continued improvement in demand and subdued growth in the number of new Covid-19 cases in the U.S. to buoy market expectations. Following the Fed stimulus — which set a floor on fear — the market has been willing to “look through” the current weak period and take a longer-term view. With investors focusing their attention on 2021 results, the valuations become important in finding value. Though market sentiment can be fickle, and evidence of a sustained uptick in new cases could spook investors once again.
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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. | Despite a 46% rise since the March 23 lows of this year, at the current price of around $107 per share we believe Medtronic’s stock (NYSE: MDT) looks attractive and it has more room for growth. The global spread of coronavirus has resulted in postponement of elective surgeries, especially in the quarter just ended, as health care institutions primarily focus on Covid-19 and other emergency cases. While Medtronic stock appears expensive when compared to its historical P/E multiple of 21x in 2019, it is trading at 19x its estimated earnings for fiscal 2022, when the company expects the business to return to normalcy. | Medtronic’s revenues declined 3.5% from $30.0 billion to $28.9 billion between fiscal 2018 and fiscal 2020 (fiscal ends in April), and this translated into a similar decline in Non-GAAP EPS, as a low single-digit decline in net income margin was offset by a similar decline in total shares outstanding. While Medtronic stock appears expensive when compared to its historical P/E multiple of 21x in 2019, it is trading at 19x its estimated earnings for fiscal 2022, when the company expects the business to return to normalcy. Overall, we believe that Medtronic will likely see steady revenue and earnings growth over the coming years, and the stock trading at just 18x its fiscal 2022 expected earnings appears to be an attractive level for investors wiling to invest for the long-term. | Medtronic’s revenues declined 3.5% from $30.0 billion to $28.9 billion between fiscal 2018 and fiscal 2020 (fiscal ends in April), and this translated into a similar decline in Non-GAAP EPS, as a low single-digit decline in net income margin was offset by a similar decline in total shares outstanding. While Medtronic stock appears expensive when compared to its historical P/E multiple of 21x in 2019, it is trading at 19x its estimated earnings for fiscal 2022, when the company expects the business to return to normalcy. Overall, we believe that Medtronic will likely see steady revenue and earnings growth over the coming years, and the stock trading at just 18x its fiscal 2022 expected earnings appears to be an attractive level for investors wiling to invest for the long-term. | Furthermore, MDT stock is also up 21% from levels seen in early 2019. We believe the stock is likely to see more upside despite the recent uptick and the potential weakness from a recession driven by the Covid outbreak. The company’s margins also declined resulting in Non-GAAP earnings to halve to $0.62, compared to $1.26 in the prior year quarter. | cf7d391c-c102-4af4-95e6-e671f98a1337 |
32476.0 | 2020-09-01 00:00:00 UTC | Carnival Stock Could Rebound Significantly Once a Vaccine Arrives | ABT | https://www.nasdaq.com/articles/carnival-stock-could-rebound-significantly-once-a-vaccine-arrives-2020-09-01 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Carnival Corp (NYSE:CCL) is on the rise again. I have been optimistic about CCL stock since my Aug. 4 article saw some light at the end of the tunnel. The stock is now up 24% in the past month as it is getting clear that a novel coronavirus vaccine is not too far off in the near future.
CCL) ship on the water" width="300" height="169">
Source: Ruth Peterkin / Shutterstock.com
If that occurs, the U.S. Center for Disease Control (CDC) could end up lifting its “no sail” order for cruise companies.
Moreover, this past week the news that a cheap and quick, no-lab-required Covid-19 test would be available from Abbott Laboratories (NYSE:ABT) has also lifted cruise stocks.
CCL Stock Stuck as Cruise Delays Extended
The CDC’s no sail order lasts through Sept. 30, but there is a good likelihood they will extend it again. That order was issued on July 16. Later on July 21, the CDC said it would not modify the order until it reads all public comments submitted up until Sept. 21.
Here is what is going on in the industry. First, several cruise lines, including Princess Cruises, which is owned by Carnival Corp. have extended their “pause” of operations through Dec. 12. In addition, Carnival has extended the pause of all departures from Australia through Dec. 12. I suspect Carnival will do the same with its U.S. departures as Sept. 30 approaches.
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The real question is when the company will begin operations after that. I suspect it will not be until mid-January or February 2021.
The question then becomes, does the company have enough liquidity to last until then?
Liquidity May Be Just Enough
Some experts believe that the company is not going to make it, particularly as Carnival is burning through $650 million per month, makes no revenue and has over $20 billion in debt.
On July 10, Carnival stated it had raised over $10 billion in additional liquidity. This was much higher than the $7.6 billion in liquidity the company said it had on May 31.
Therefore, combined with its existing cash, the company can operate for at least 18 months without further financing. This included plans to remove nine ships within 90 days through asset sales.
I am still a little bit skeptical though if the “pauses” extend well into Q1 2021. I suspect at that point the company will look to raise more capital. Hopefully, this would not be dilutive to CCL stock shareholders.
Where This Leaves Investors
If you buy CCL stock or already own it, you already know that this is a speculative play at best. That means there could be another downside dip in the stock if a vaccine does not appear soon, or more bad Covid-19 news prevails.
However, some believe that history has a good lesson here on a cruise stocks rebound, as MarketWatch’s Tomi Kilgore highlighted on Monday. People have short memories. In 2019 a number of cruise industry mishaps occurred. But cruising remained popular overall and the cruise industry rebounded.
Moreover, Kilgore cited more evidence cruise line clients remain loyal and understanding.
The bottom line is this: expect a rocky road, but it looks like CCL stock may have already hit a bottom. That will be the case if the company no longer needs to increase its liquidity by raising equity.
Moreover, keep in mind that when profits return it, could be quite dramatic. For example, for the quarter ending August 2019, Carnival made $2.60 per share. That works out to an annualized rate of $10.40 per share.
So at a mere 10 times earnings that would put CCL stock at more than $100 per share. Let’s say it takes two years for that to occur. Compared to Monday’s $16.48 close, that represents a more than five-fold gain. Over two years that compounds out to about 150% per share for two years. That still represents an excellent return on investment.
On the date of publication, Mark R. Hake did not have (either directly or indirectly) any positions in any of the securities mentioned in this article. Mark Hake runs the Total Yield Value Guide, which you can review here.
The post Carnival Stock Could Rebound Significantly Once a Vaccine Arrives 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. | Moreover, this past week the news that a cheap and quick, no-lab-required Covid-19 test would be available from Abbott Laboratories (NYSE:ABT) has also lifted cruise stocks. CCL) ship on the water" width="300" height="169"> Source: Ruth Peterkin / Shutterstock.com If that occurs, the U.S. Center for Disease Control (CDC) could end up lifting its “no sail” order for cruise companies. However, some believe that history has a good lesson here on a cruise stocks rebound, as MarketWatch’s Tomi Kilgore highlighted on Monday. | Moreover, this past week the news that a cheap and quick, no-lab-required Covid-19 test would be available from Abbott Laboratories (NYSE:ABT) has also lifted cruise stocks. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Carnival Corp (NYSE:CCL) is on the rise again. CCL) ship on the water" width="300" height="169"> Source: Ruth Peterkin / Shutterstock.com If that occurs, the U.S. Center for Disease Control (CDC) could end up lifting its “no sail” order for cruise companies. | Moreover, this past week the news that a cheap and quick, no-lab-required Covid-19 test would be available from Abbott Laboratories (NYSE:ABT) has also lifted cruise stocks. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Carnival Corp (NYSE:CCL) is on the rise again. CCL) ship on the water" width="300" height="169"> Source: Ruth Peterkin / Shutterstock.com If that occurs, the U.S. Center for Disease Control (CDC) could end up lifting its “no sail” order for cruise companies. | Moreover, this past week the news that a cheap and quick, no-lab-required Covid-19 test would be available from Abbott Laboratories (NYSE:ABT) has also lifted cruise stocks. CCL Stock Stuck as Cruise Delays Extended The CDC’s no sail order lasts through Sept. 30, but there is a good likelihood they will extend it again. First, several cruise lines, including Princess Cruises, which is owned by Carnival Corp. have extended their “pause” of operations through Dec. 12. | 1fe3a8fe-67f4-4da3-8d1e-35a99c76ed8e |
32477.0 | 2020-08-31 00:00:00 UTC | Sorrento’s Covid-19 Test, Acquisitions Should Help SRNE Stock Surge | ABT | https://www.nasdaq.com/articles/sorrentos-covid-19-test-acquisitions-should-help-srne-stock-surge-2020-08-31 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Sorrento (NASDAQ:SRNE) should continue to climb in the very likely case the company’s superior coronavirus test is approved and then becomes widely used in the U.S. and potentially around the world. And SRNE stock appears poised to improve its longer-term outlook through acquisitions.
Source: Shutterstock
In a previous column, I noted that Sorrento’s coronavirus test, unlike competing diagnostics, yields results in just 30 minutes, does not require lab equipment and doesn’t have to be sent to labs. As a result, it, unlike other tests, could be used by hospitals, stadiums, hotels, office buildings and other organizations to allow people to safely enter their facilities on the same day that the test is taken.
Further, a Seeking Alpha columnist recently pointed out that, because Sorrento’s test does not need to be sent to a lab, it could be much cheaper than competing diagnostics. According to the columnist, labs usually charge at least $80 per test that they evaluate, while Sorrento has said that its test “might cost only $10.”
A recent test made by Abbott (NYSE:ABT) and approved by the FDA reportedly yields results in 15 minutes, costs only $5, and does not require lab equipment. But it requires an uncomfortable nasal swab and must be administered by a health professional. Businesses and other organizations will likely be able to use Sorrento’s test without hiring expensive health professionals; with Abbott’s test, that will not be the case.
A Promising Acquisition and a Good Overall Strategy
On Aug. 26, Sorrento announced that it had agreed to merge with start-up biotech company SmartPharm in exchange for $19.4 million of SRNE stock.
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SmartPharm “seeks to insert nucleic acids (mRNA or DNA) into cells to make normal versions of a missing or abnormal program or to produce an entirely new type of protein that has therapeutic benefit.”
According to the company, its system prompts human bodies to make desirable proteins, eliminating the need for scientists to develop and inject such proteins. SmartPharm adds that its system is superior to more prevalent “Viral-vectored gene therapies” because it’s less expensive and, unlike viruses, does not prompt a response by the immune system.
Sorrento reported that it was able to use SmartPharm’s system, in conjunction with Sorrento’s STI-1499 antibody, to develop “an antibody encoded DNA plasmid candidate” which “has the potential to generate long-lasting anti-viral protection with a single intra-muscular administration.” Sorrento has said that STI-1499 “demonstrated (a) 100% neutralizing effect” of Covid-19 in lab tests and stopped the virus from entering healthy cells in tests in animals.
So it sounds like SmartPharm’s technology may cause cells to produce antibodies for a long period of time after just a single injection.
Of course, such technology could very well be used to treat many illnesses, not just Covid-19.
Indeed, Sorrento stated that SmartPharm’s technology is “expected to provide a vast product pipeline of novel, long-acting therapeutic proteins for a broad range of diseases, including cancer.”
SmartPharm’s technology certainly sounds very promising. And the fact that SmartPharm agreed to merge with Sorrento in exchange for SRNE stock, without any cash considerations, certainly indicates that SmartPharm is upbeat on its own prospects and those of Sorrento. That’s very encouraging news for the owners of Sorrento stock.
Finally, as I indicated earlier, I’m pleased that Sorrento appears to be intent on using the cash it’s generating to improve its longer-term prospects. Ultimately I believe that Sorrento will use much of its profits from its test for the coronavirus test to make other high-potential acquisitions, thereby greatly improving the outlook of its stock.
The Bottom Line on SRNE Stock
I believe that Sorrento will ultimately make a great deal of money from its test for the coronavirus, and I’m very encouraged by its merger with SmartPharm. I’m also very pleased by the company’s strategy of using its cash to make promising acquisitions, and I believe that this approach will boost the valuation of SRNE stock over the medium-term to long-term.
Given the huge potential of Sorrento and the fact that its market capitalization is only $2 billion at this point, I continue to advise risk-tolerant investors to buy the shares.
As of this writing, the author owned shares of SRNE stock.
Larry Ramer has conducted research and written articles on U.S. stocks for 13 years. He has been employed by The Fly and Israel’s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been GE, solar stocks, and Snap. You can reach him on StockTwits at @larryramer.
The post Sorrento’s Covid-19 Test, Acquisitions Should Help SRNE Stock Surge 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. | According to the columnist, labs usually charge at least $80 per test that they evaluate, while Sorrento has said that its test “might cost only $10.” A recent test made by Abbott (NYSE:ABT) and approved by the FDA reportedly yields results in 15 minutes, costs only $5, and does not require lab equipment. A Promising Acquisition and a Good Overall Strategy On Aug. 26, Sorrento announced that it had agreed to merge with start-up biotech company SmartPharm in exchange for $19.4 million of SRNE stock. The Bottom Line on SRNE Stock I believe that Sorrento will ultimately make a great deal of money from its test for the coronavirus, and I’m very encouraged by its merger with SmartPharm. | According to the columnist, labs usually charge at least $80 per test that they evaluate, while Sorrento has said that its test “might cost only $10.” A recent test made by Abbott (NYSE:ABT) and approved by the FDA reportedly yields results in 15 minutes, costs only $5, and does not require lab equipment. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Sorrento (NASDAQ:SRNE) should continue to climb in the very likely case the company’s superior coronavirus test is approved and then becomes widely used in the U.S. and potentially around the world. Source: Shutterstock In a previous column, I noted that Sorrento’s coronavirus test, unlike competing diagnostics, yields results in just 30 minutes, does not require lab equipment and doesn’t have to be sent to labs. | According to the columnist, labs usually charge at least $80 per test that they evaluate, while Sorrento has said that its test “might cost only $10.” A recent test made by Abbott (NYSE:ABT) and approved by the FDA reportedly yields results in 15 minutes, costs only $5, and does not require lab equipment. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Sorrento (NASDAQ:SRNE) should continue to climb in the very likely case the company’s superior coronavirus test is approved and then becomes widely used in the U.S. and potentially around the world. Sorrento reported that it was able to use SmartPharm’s system, in conjunction with Sorrento’s STI-1499 antibody, to develop “an antibody encoded DNA plasmid candidate” which “has the potential to generate long-lasting anti-viral protection with a single intra-muscular administration.” Sorrento has said that STI-1499 “demonstrated (a) 100% neutralizing effect” of Covid-19 in lab tests and stopped the virus from entering healthy cells in tests in animals. | According to the columnist, labs usually charge at least $80 per test that they evaluate, while Sorrento has said that its test “might cost only $10.” A recent test made by Abbott (NYSE:ABT) and approved by the FDA reportedly yields results in 15 minutes, costs only $5, and does not require lab equipment. Businesses and other organizations will likely be able to use Sorrento’s test without hiring expensive health professionals; with Abbott’s test, that will not be the case. I’m also very pleased by the company’s strategy of using its cash to make promising acquisitions, and I believe that this approach will boost the valuation of SRNE stock over the medium-term to long-term. | 7f2f88a9-92ee-4ffa-9c06-9bbc0dada536 |
32478.0 | 2020-08-30 00:00:00 UTC | Better Coronavirus Stock: Gilead Sciences or Abbott Laboratories? | ABT | https://www.nasdaq.com/articles/better-coronavirus-stock%3A-gilead-sciences-or-abbott-laboratories-2020-08-30 | nan | nan | Gilead Sciences (NASDAQ: GILD) and Abbott Laboratories (NYSE: ABT) don't compete against each other. Gilead is best known for its blockbuster HIV and hepatitis C virus franchises. Abbott sells a line of older drugs, mainly in emerging markets, but makes even more money from its nutritional products, diagnostics systems, and medical devices.
Both Gilead and Abbott have become major players in the fight against novel coronavirus disease COVID-19 this year, albeit in different ways. For much of the year, Gilead's stock performance handily topped Abbott's. However, the dynamics have changed over the last month. Which of these coronavirus stocks is the better pick now?
Image source: Getty Images.
The case for Gilead Sciences
Medical professionals struggled early on to find COVID-19 treatments that would be both safe and effective. One experimental drug stood out from the crowd -- Gilead's remdesivir. Today, remdesivir has won regulatory approvals in several countries. It also is available in the U.S. through an emergency use authorization and awaits full FDA approval.
Remdesivir will almost certainly become a megablockbuster for Gilead in the near term. The biotech has an even greater market opportunity with the drug if its clinical studies evaluating an inhaled version that could be used in outpatient settings are successful.
Gilead's HIV franchise will remain the biggest moneymaker for the company, though. Biktarvy continues to gain momentum and appears to be on track to become the biggest-selling HIV drug to date. Gilead has another promising HIV drug in its pipeline as well with long-acting capsid inhibitor lenacapavir.
The company is also already a leader in cancer cell therapies with Yescarta and Tecartus. Gilead could expand its presence in the oncology market thanks to a string of acquisitions and partnerships orchestrated by CEO Daniel O'Day.
Most biotechs don't offer dividends, but Gilead is an exception. The company's dividend yield of over 4% is likely to capture investors' attention. Gilead has boosted its dividend payout by 58% over the last five years.
The case for Abbott Labs
It wasn't surprising that Abbott Labs quickly emerged as one of the top players in the COVID-19 diagnostics market. The company now has six coronavirus tests on the market in the U.S. In the first half of 2020, the company's COVID-19 tests generated sales of $652 million.
That total will almost certainly increase significantly thanks to Abbott's newest product. The company recently announced FDA emergency use authorization for a rapid COVID-19 antibody test, BinaxNOW. This test is priced at $5, provides results in 15 minutes, and doesn't require any instrumentation.
While BinaxNOW could turbocharge Abbott's coronavirus-related revenue, the healthcare giant claims several other growth drivers. Freestyle Libre 2 ranks at the top of the list. The integrated continuous glucose monitoring system (iCGM) won FDA clearance in June. Its predecessor racked up sales of nearly $1.2 billion in the first half of 2020, up 50% year over year.
Other products are also important to Abbott's growth, including mitral regurgitation device MitraClip and the Alinity line of diagnostics systems. In addition, growth in emerging markets should drive Abbott's nutritional and established pharmaceuticals sales higher over the next decade and beyond.
Abbott belongs to a select group of stocks known as Dividend Aristocrats -- S&P 500 members that have raised their dividends for at least 25 consecutive years. The company's track record is more impressive than most Dividend Aristocrats, with Abbott increasing its dividend payout in each of the last 48 years. Its dividend currently yields around 1.4%.
Better coronavirus stock
Gilead's remdesivir should be a big winner, but it could face significant competition from other treatments in the near future. The availability of COVID-19 vaccines, perhaps as earlier as late 2020, could reduce the market size for remdesivir over time. I'm also less optimistic about Gilead's overall growth prospects after the FDA's recent rejection of approval for filgotinib in treating rheumatoid arthritis.
My view is that Abbott Labs is now clearly the better coronavirus stock of the two. Abbott has a clear path to growth that's diversified across multiple products. The company has demonstrated its ability to innovate quickly. With a solid and steadily increasing dividend thrown in, I think that Abbott should deliver market-beating returns over the next few 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. | Gilead Sciences (NASDAQ: GILD) and Abbott Laboratories (NYSE: ABT) don't compete against each other. Abbott sells a line of older drugs, mainly in emerging markets, but makes even more money from its nutritional products, diagnostics systems, and medical devices. The biotech has an even greater market opportunity with the drug if its clinical studies evaluating an inhaled version that could be used in outpatient settings are successful. | Gilead Sciences (NASDAQ: GILD) and Abbott Laboratories (NYSE: ABT) don't compete against each other. Abbott sells a line of older drugs, mainly in emerging markets, but makes even more money from its nutritional products, diagnostics systems, and medical devices. The case for Abbott Labs It wasn't surprising that Abbott Labs quickly emerged as one of the top players in the COVID-19 diagnostics market. | Gilead Sciences (NASDAQ: GILD) and Abbott Laboratories (NYSE: ABT) don't compete against each other. For much of the year, Gilead's stock performance handily topped Abbott's. The case for Abbott Labs It wasn't surprising that Abbott Labs quickly emerged as one of the top players in the COVID-19 diagnostics market. | Gilead Sciences (NASDAQ: GILD) and Abbott Laboratories (NYSE: ABT) don't compete against each other. For much of the year, Gilead's stock performance handily topped Abbott's. The company now has six coronavirus tests on the market in the U.S. | 0050ac86-4a44-42ae-9bdb-18816cb70c6c |
32479.0 | 2020-08-30 00:00:00 UTC | Here Are Warren Buffett's Favorite Coronavirus Stocks | ABT | https://www.nasdaq.com/articles/here-are-warren-buffetts-favorite-coronavirus-stocks-2020-08-30 | nan | nan | If you asked Warren Buffett which stock he likes best during the coronavirus pandemic, he'd almost certainly reply that it's Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B). After all, the Berkshire chairman and CEO led the company to buy back more than $5 billion of its own shares in the second quarter of 2020.
But what if you asked Buffett which stocks he likes best among companies that are developing diagnostic tests, therapies, and vaccines to fight COVID-19? To my knowledge, no one has presented this question to the billionaire investor. However, it's easy to figure out what his answer would probably be. Here are Warren Buffett's favorite coronavirus stocks -- based on where Berkshire has invested.
Image source: Getty Images.
A very short shortlist
Buffett's shortlist of favorite coronavirus stocks is very short. There are only two stocks in Berkshire's portfolio that are directly involved in developing potential tests, treatments, or vaccines for COVID-19: Biogen (NASDAQ: BIIB) and Johnson & Johnson (NYSE: JNJ).
Vir Biotechnology announced in March that it planned to team up with Biogen to manufacture human monoclonal antibodies that could potentially be used in treating COVID-19. The two companies finalized an agreement in May.
The collaboration with Vir isn't Biogen's only coronavirus-related initiative. In April, the biotech announced a consortium with Broad Institute of MIT and Harvard and Partners HealthCare to build a COVID-19 biobank. The purpose of this biobank was to help scientists in researching potential vaccines and therapies targeting COVID-19.
Johnson & Johnson's COVID-19 efforts have received more attention. The healthcare giant expanded its existing partnership with the Biomedical Advanced Research and Development Authority (BARDA) in February to accelerate research into potential COVID-19 treatments.
The bigger story for J&J, though, is its COVID-19 vaccine program. The company plans to begin large-scale late-stage testing of its COVID-19 vaccine candidate, Ad26.COV2-S, in September. On Aug, 5, J&J signed a deal with the U.S. government to supply 100 million doses of its vaccine pending FDA authorization for $1 billion.
The safer pick
Berkshire owns a much bigger stake in Biogen than it does in Johnson & Johnson. Several years ago, Buffett became disenchanted with J&J after several missteps by the company.
But Johnson & Johnson has handily outperformed Biogen when it comes to stock performance in recent years. The gap is even wider factoring in the reinvestment of dividends that J&J pays.
Biogen could be the bigger winner in the future. However, the fortunes for the biotech largely hinge on FDA approval of aducanumab in treating Alzheimer's disease. There's a good reason to be nervous about this approval: Biogen actually came close to throwing in the towel on aducanumab last year after it flopped in a late-stage study.
Johnson & Johnson is without question the safer pick. It's a blue chip stock with a long track record of success. Unlike Biogen, J&J isn't heavily reliant on one pipeline candidate. The company is diversified across multiple areas within the healthcare sector -- consumer health, medical devices, and pharmaceuticals.
Another coronavirus stock Buffett should like
There's another coronavirus stock that isn't currently in Berkshire's portfolio that Warren Buffett should like. Abbott Labs (NYSE: ABT) markets several COVID-19 diagnostics tests. It recently won FDA emergency use authorization for a potential game-changer with its $5 coronavirus antibody test that can deliver results in only 15 minutes.
Like J&J, Abbott is a blue chip stock with a long and storied history. It should also generate impressive growth over the next decade with products including the Freestyle Libre continuous glucose monitoring system and its COVID-19 tests. If Buffett seriously entertained adding another coronavirus-focused healthcare stock to Berkshire's holdings, Abbott would be an excellent candidate.
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Keith Speights owns shares of Berkshire Hathaway (B shares). The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares) and Biogen. The Motley Fool recommends Johnson & Johnson and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), and short September 2020 $200 calls on Berkshire Hathaway (B shares). The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Labs (NYSE: ABT) markets several COVID-19 diagnostics tests. There's a good reason to be nervous about this approval: Biogen actually came close to throwing in the towel on aducanumab last year after it flopped in a late-stage study. It recently won FDA emergency use authorization for a potential game-changer with its $5 coronavirus antibody test that can deliver results in only 15 minutes. | Abbott Labs (NYSE: ABT) markets several COVID-19 diagnostics tests. There are only two stocks in Berkshire's portfolio that are directly involved in developing potential tests, treatments, or vaccines for COVID-19: Biogen (NASDAQ: BIIB) and Johnson & Johnson (NYSE: JNJ). Another coronavirus stock Buffett should like There's another coronavirus stock that isn't currently in Berkshire's portfolio that Warren Buffett should like. | Abbott Labs (NYSE: ABT) markets several COVID-19 diagnostics tests. There are only two stocks in Berkshire's portfolio that are directly involved in developing potential tests, treatments, or vaccines for COVID-19: Biogen (NASDAQ: BIIB) and Johnson & Johnson (NYSE: JNJ). Another coronavirus stock Buffett should like There's another coronavirus stock that isn't currently in Berkshire's portfolio that Warren Buffett should like. | Abbott Labs (NYSE: ABT) markets several COVID-19 diagnostics tests. The safer pick Berkshire owns a much bigger stake in Biogen than it does in Johnson & Johnson. Another coronavirus stock Buffett should like There's another coronavirus stock that isn't currently in Berkshire's portfolio that Warren Buffett should like. | ed8c6407-7525-4c51-bb36-454975d1ad43 |
32480.0 | 2020-08-28 00:00:00 UTC | Coronavirus Testing Hopes Lift Shares of BJ's, Dave & Buster's, and Bloomin' Brands | ABT | https://www.nasdaq.com/articles/coronavirus-testing-hopes-lift-shares-of-bjs-dave-busters-and-bloomin-brands-2020-08-28 | nan | nan | What happened
On Aug. 26, the Food and Drug Administration authorized a new coronavirus test from Abbott Laboratories that is quicker and cheaper than anything else so far. And investors believe that's good news for beaten-down restaurant stocks like BJ's Restaurants (NASDAQ: BJRI), Dave & Buster's Entertainment (NASDAQ: PLAY) and Bloomin' Brands (NASDAQ: BLMN). Each stock is still down in 2020, but with each new encouraging development in the ongoing COVID-19 saga, investors purchase shares in anticipation of a turnaround.
Today, BJ's Restaurants stock was up 14%, Dave & Buster's shares were up 16%, and Bloomin' Brands was up 9%. It was a continuation of the momentum from the previous day, right after the rapid tests were announced.
PLAY data by YCharts.
So what
All casual-dining restaurants have been challenged in 2020. The pandemic forced dining rooms to limit seating or close altogether, and not many chains were equally equipped to facilitate to-go operations. But these three restaurant companies are particularly challenged.
Bloomin' Brands has a large portfolio of over 1,450 restaurants divided among four brands. Therefore, each brand needs custom adjustments to weather the storm. Dave & Buster's serves food, but it's really the in-store gaming and hanging-out experience that sets it apart -- not very adaptable in the crisis. For its part, BJ's Restaurants has a large percentage of locations (30%) in California, a state with strict dine-in regulations.
While Bloomin' Brands and BJ's Restaurants have grown their respective to-go operations, they haven't come close to replacing the sales they've lost. Dave & Buster's has only experimented with curbside delivery in a couple of stores so far. In short, sales are down for all three because of COVID-19, and they likely won't recover until dining rooms can reopen normally.
That's where the rapid coronavirus tests from Abbott come in. The federal government reportedly ordered 150 million tests to help get the pandemic under control. And the company believes it can ship 50 million a week by October. These could, in theory, be used to safely reopen dining rooms, giving these restaurant stocks a fighting chance to return to normal. And with each stock still down from 52-week highs, investors are betting they'll return to highs once restaurant activity is back to normal.
Image source: Getty Images.
Now what
Investors should tap the brakes on their optimism for two reasons. First, we have no idea how feasible it will be to test people before dining in a restaurant. Will patrons want to be swabbed and wait in line for the 15 minutes it takes to get results? We don't know. Will local legislators even believe the tests are good enough to allow full dine-in seating? We don't know.
Second, these companies have been through the ringer. When athletes break a leg, they're not the same players they were as soon as the cast is removed; rehab takes time. Likewise, BJ's Restaurants, Dave & Buster's, and Bloomin' Brands have taken on debt to varying degrees. And they've received rent relief from landlords, but that'll have to be repaid down the line. In short, even when restaurants are operating at normal capacity, the businesses will still need time to get back to where they were pre-pandemic.
Does that mean they're bad investments? Not necessarily. These three stocks will have to be evaluated on an individual basis to judge the long-term prospects. But consider this: A full 85% of independent restaurants are still at risk of closing permanently in 2020, according to the Independent Restaurant Coalition. Even some chain restaurants like Dunkin' Brands Group and Yum! Brands' Pizza Hut are permanently closing locations.
This most likely means we will have fewer restaurants at the start of 2021 than we had at the beginning of 2020. But this sober reality actually creates an opportunity for restaurants that make it through to the other side. Assuming demand stays the same, there will be fewer options. Therefore, the remaining restaurants will get that business, boosting sales to higher levels.
Personally, I believe consumers are adopting the convenience of third-party delivery, which will benefit quick-service and fast-casual chains more than these casual-dining restaurant stocks. But even if I'm wrong, investors need to keep in mind that the new coronavirus tests aren't immediate fixes for the problems at BJ's Restaurants, Dave & Buster's, and Bloomin' Brands. As always when investing in stocks, you have to take a long-term view, since it may take some time for your investing thesis to prove itself.
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Jon Quast has no position in any of the stocks mentioned. The Motley Fool recommends Dave & Busters Entertainment and Dunkin' Brands Group. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The pandemic forced dining rooms to limit seating or close altogether, and not many chains were equally equipped to facilitate to-go operations. Personally, I believe consumers are adopting the convenience of third-party delivery, which will benefit quick-service and fast-casual chains more than these casual-dining restaurant stocks. But even if I'm wrong, investors need to keep in mind that the new coronavirus tests aren't immediate fixes for the problems at BJ's Restaurants, Dave & Buster's, and Bloomin' Brands. | And investors believe that's good news for beaten-down restaurant stocks like BJ's Restaurants (NASDAQ: BJRI), Dave & Buster's Entertainment (NASDAQ: PLAY) and Bloomin' Brands (NASDAQ: BLMN). Likewise, BJ's Restaurants, Dave & Buster's, and Bloomin' Brands have taken on debt to varying degrees. The Motley Fool recommends Dave & Busters Entertainment and Dunkin' Brands Group. | And investors believe that's good news for beaten-down restaurant stocks like BJ's Restaurants (NASDAQ: BJRI), Dave & Buster's Entertainment (NASDAQ: PLAY) and Bloomin' Brands (NASDAQ: BLMN). Today, BJ's Restaurants stock was up 14%, Dave & Buster's shares were up 16%, and Bloomin' Brands was up 9%. But even if I'm wrong, investors need to keep in mind that the new coronavirus tests aren't immediate fixes for the problems at BJ's Restaurants, Dave & Buster's, and Bloomin' Brands. | Today, BJ's Restaurants stock was up 14%, Dave & Buster's shares were up 16%, and Bloomin' Brands was up 9%. While Bloomin' Brands and BJ's Restaurants have grown their respective to-go operations, they haven't come close to replacing the sales they've lost. But even if I'm wrong, investors need to keep in mind that the new coronavirus tests aren't immediate fixes for the problems at BJ's Restaurants, Dave & Buster's, and Bloomin' Brands. | dc145e4f-c59e-4c15-9e5e-0b105a1e6203 |
32481.0 | 2020-08-28 00:00:00 UTC | Abbott Laboratories Reaches Analyst Target Price | ABT | https://www.nasdaq.com/articles/abbott-laboratories-reaches-analyst-target-price-2020-08-28 | nan | nan | In recent trading, shares of Abbott Laboratories (Symbol: ABT) have crossed above the average analyst 12-month target price of $108.18, changing hands for $111.29/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business developments that may be responsible for driving the stock price higher — if things are looking up for the company, perhaps it is time for that target price to be raised.
There are 11 different analyst targets contributing to that average for Abbott Laboratories, but the average is just that — a mathematical average. There are analysts with lower targets than the average, including one looking for a price of $102.00. And then on the other side of the spectrum one analyst has a target as high as $113.00. The standard deviation is $3.027.
But the whole reason to look at the average ABT price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with ABT crossing above that average target price of $108.18/share, investors in ABT have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $108.18 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? Below is a table showing the current thinking of the analysts that cover Abbott Laboratories:
RECENT ABT ANALYST RATINGS BREAKDOWN
» Current 1 Month Ago 2 Month Ago 3 Month Ago
Strong buy ratings: 11 11 12 12
Buy ratings: 1 1 1 1
Hold ratings: 3 3 3 3
Sell ratings: 0 0 0 0
Strong sell ratings: 0 0 0 0
Average rating: 1.47 1.47 1.44 1.44
The average rating presented in the last row of the above table above is from 1 to 5 where 1 is Strong Buy and 5 is Strong Sell. This article used data provided by Zacks Investment Research via Quandl.com. Get the latest Zacks research report on ABT — FREE.
The Top 25 Broker Analyst Picks 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. | In recent trading, shares of Abbott Laboratories (Symbol: ABT) have crossed above the average analyst 12-month target price of $108.18, changing hands for $111.29/share. But the whole reason to look at the average ABT price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with ABT crossing above that average target price of $108.18/share, investors in ABT have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $108.18 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? | In recent trading, shares of Abbott Laboratories (Symbol: ABT) have crossed above the average analyst 12-month target price of $108.18, changing hands for $111.29/share. But the whole reason to look at the average ABT price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with ABT crossing above that average target price of $108.18/share, investors in ABT have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $108.18 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? | And so with ABT crossing above that average target price of $108.18/share, investors in ABT have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $108.18 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? In recent trading, shares of Abbott Laboratories (Symbol: ABT) have crossed above the average analyst 12-month target price of $108.18, changing hands for $111.29/share. But the whole reason to look at the average ABT price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. | In recent trading, shares of Abbott Laboratories (Symbol: ABT) have crossed above the average analyst 12-month target price of $108.18, changing hands for $111.29/share. But the whole reason to look at the average ABT price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with ABT crossing above that average target price of $108.18/share, investors in ABT have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $108.18 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? | dc2be6d0-8a5a-43ff-b4c6-70156ef4b25a |
32482.0 | 2020-08-28 00:00:00 UTC | Why Royal Caribbean, Carnival Corporation, and Norwegian Cruise Line Stocks All Just Popped 5% (and More) | ABT | https://www.nasdaq.com/articles/why-royal-caribbean-carnival-corporation-and-norwegian-cruise-line-stocks-all-just-popped | nan | nan | What happened
For the second day running, cruise stock investors are having a very good day.
Yesterday as you may recall, Big Pharma company Abbott Laboratories (NYSE: ABT) announced the release of a "fast, $5, 15-minute, easy-to-use COVID-19 test" that promises to quickly permit patients to discover if they have antibodies indicating prior infection with the novel coronavirus (such that they can be confident they're now immune, noninfective, and thus "safe" to travel on cruise ships). Today, investors seem to be reacting to news that could prevent them from getting infected in the first place.
As medical advances emerge, cruise investors think they see a bargain. Image source: Getty Images.
So what
Shares of Royal Caribbean (NYSE: RCL) stock are up 5.7% in 11:20 a.m. EDT trading. Norwegian Cruise Line Holdings (NYSE: NCLH) is up 5.4%, and Carnival Corporation (NYSE: CCL) (NYSE: CUK) has gained 5.3%.
Why are these cruise line stocks going up?
Yesterday, a pair of Wall Street analysts came out with new reports on a pair of vaccine candidates from VBI Vaccines, VBI-2901 and VBI-2902, which initial data (on mice) suggest could be extraordinarily effective in the production of neutralizing antibodies to fight coronavirus. They're apparently so effective that vaccinations with VBI-2901 and VBI-2902 could potentially be administered in a single dose, rather than the more usual two-round vaccination.
In relatively short order, first investment bank Oppenheimer declared they could become "best-in-class" vaccines against COVID-19 (reports TheFly.com), and then Raymond James declared them "the best vaccine of them all."
Now what
Big Pharma is burning both ends of the candle trying to put coronavirus to bed, developing both vaccines to prevent infection with COVID-19 and tests to confirm the presence of protective antibodies. The more progress they make -- or even just promise (VBI's vaccines, after all, haven't even begun Phase 1/2 trials yet) -- the more enthusiasm you can expect to see about cruise line stocks among investors hoping for a recovery in the business.
While I understand the enthusiasm, though, I think a cautionary note is warranted here: It doesn't matter how excited investors get about the prospects for coronavirus vaccines and tests, and it matters even less how excited the PR departments at the companies marketing these products are. Ultimately, the cruise industry still needs the CDC to sign off and lift its no-sail order before there can be any recovery in cruise stocks.
Until then, the recession for cruise investors continues.
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Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends Carnival. 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. | Yesterday as you may recall, Big Pharma company Abbott Laboratories (NYSE: ABT) announced the release of a "fast, $5, 15-minute, easy-to-use COVID-19 test" that promises to quickly permit patients to discover if they have antibodies indicating prior infection with the novel coronavirus (such that they can be confident they're now immune, noninfective, and thus "safe" to travel on cruise ships). Now what Big Pharma is burning both ends of the candle trying to put coronavirus to bed, developing both vaccines to prevent infection with COVID-19 and tests to confirm the presence of protective antibodies. The more progress they make -- or even just promise (VBI's vaccines, after all, haven't even begun Phase 1/2 trials yet) -- the more enthusiasm you can expect to see about cruise line stocks among investors hoping for a recovery in the business. | Yesterday as you may recall, Big Pharma company Abbott Laboratories (NYSE: ABT) announced the release of a "fast, $5, 15-minute, easy-to-use COVID-19 test" that promises to quickly permit patients to discover if they have antibodies indicating prior infection with the novel coronavirus (such that they can be confident they're now immune, noninfective, and thus "safe" to travel on cruise ships). What happened For the second day running, cruise stock investors are having a very good day. While I understand the enthusiasm, though, I think a cautionary note is warranted here: It doesn't matter how excited investors get about the prospects for coronavirus vaccines and tests, and it matters even less how excited the PR departments at the companies marketing these products are. | Yesterday as you may recall, Big Pharma company Abbott Laboratories (NYSE: ABT) announced the release of a "fast, $5, 15-minute, easy-to-use COVID-19 test" that promises to quickly permit patients to discover if they have antibodies indicating prior infection with the novel coronavirus (such that they can be confident they're now immune, noninfective, and thus "safe" to travel on cruise ships). The more progress they make -- or even just promise (VBI's vaccines, after all, haven't even begun Phase 1/2 trials yet) -- the more enthusiasm you can expect to see about cruise line stocks among investors hoping for a recovery in the business. 10 stocks we like better than Carnival When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | Yesterday as you may recall, Big Pharma company Abbott Laboratories (NYSE: ABT) announced the release of a "fast, $5, 15-minute, easy-to-use COVID-19 test" that promises to quickly permit patients to discover if they have antibodies indicating prior infection with the novel coronavirus (such that they can be confident they're now immune, noninfective, and thus "safe" to travel on cruise ships). Why are these cruise line stocks going up? Yesterday, a pair of Wall Street analysts came out with new reports on a pair of vaccine candidates from VBI Vaccines, VBI-2901 and VBI-2902, which initial data (on mice) suggest could be extraordinarily effective in the production of neutralizing antibodies to fight coronavirus. | b4c8e25f-392c-4452-a183-aa9659308b31 |
32483.0 | 2020-08-28 00:00:00 UTC | XpresSpa Group’s Stock Drop Ignores the Potential of Pivot to Virus Testing | ABT | https://www.nasdaq.com/articles/xpresspa-groups-stock-drop-ignores-the-potential-of-pivot-to-virus-testing-2020-08-28 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
XpresSpa Group (NASDAQ:XSPA) announced a $35.3 million direct offering Aug. 25 that gave investors one share of XSPA stock and short-term warrants to purchase another at $3.05.
Source: Maridav / Shutterstock
The news sent the share price for the provider of Covid-19 screening and testing services at JFK International Airport and Newark Liberty International Airport down 20% at the Aug. 26 market open. It’s now lower than it’s been since the beginning of June.
Last month, I predicted that if the company’s pilot program to provide screening and testing to JFK employees was successful, XSPA would surely revisit $7. Down below $3 on the offering, nothing’s changed, in my opinion, to alter my view.
At less than $3, XSPA stock is a screaming speculative buy. Here’s why.
XSPA Stock Offering is Dilutive
The company reported second-quarter earnings on Aug. 19. As of Aug. 14, 56.78 million shares were outstanding. Add in 22.44 million shares for the direct offering (assumes the exercise of warrants within 24 months), and you get 79.22 million shares outstanding.
According to Morningstar, XpresSpa has an enterprise value of $164.2 million. Add in the $35.3 million in cash, $14.6 million in total debt, and a current share price as I write this of $2.72, and you get a revised enterprise value of $194.8 million.
So, on a per-share basis, the company’s enterprise value falls by 15%. On the surface, that would be bad as it means a buyer of the entire company would theoretically have to pay 15% less to buy XpresSpa.
9 Gold Stocks to Buy That Still Have Room to Run
However, in the big picture, XpresSpa is now worth $30.6 million more than it was before the announcement. If it can take the proceeds of the direct offering and turn it into revenue, the odds of its share price falling too much further diminish significantly.
While your one share of stock now owns slightly less than it did before the announcement, in six months that won’t matter if XpresSpa continues to make inroads with its Covid-19 testing.
How’s It Doing So Far?
XpresSpa plans to use the proceeds of the direct offering for future locations, working capital, and general corporate purposes. The company made the offering because it needs the money to move beyond the two Covid-19 XpresCheck testing facilities (JFK, Newark) that it’s opened in 2020. JFK opened in June while Newark opened Aug. 17.
In its Q2 2020 press release, the company pointed out there are approximately 30 major U.S. airports. These airports employ an average of 30,000 people. They’re considered “Large Hubs.” There are an additional 30 airports that are considered “Medium Hubs.” They average 15,000 staff.
XpresSpa has existing facilities at 19 of the large-hub airports and four of the medium-hubs. At present, it only has XpresCheck locations at two of the large hubs. It is in active discussions with most of these airports.
The potential near-term and medium-term opportunities are significant. The JFK facility can do up to 500 tests a day while Newark can do 350.
However, on Aug. 24, XpresSpa announced that it had signed a contract with Abbott Labs (NYSE:ABT) to secure 100 ID NOW testing instruments. These instruments reduce the waiting time for results from 48 hours or more to less than 15 minutes.
“Securing the use of the Abbott devices is part of XpresCheck’s strategy to deliver transformative testing and healthcare services to airports across the country. This first mover advantage in the airport space will roll out in September at its flagship locations in JFK International Airport and Newark Liberty International Airport,” the company’s press release stated.
In any long-term return to regular business and personal air travel, a 15-minute test makes it far safer for airport employees and travelers. Sure, a whole bunch could go wrong, but even if a vaccine is created, testing is still going to remain an excellent way to reduce the possible transmission of Covid-19.
XpresSpa seems to be doing all that it can to ensure airports are safe, and yet there remain people who want to see them fail.
My question is, why?
Spend Money to Make Money
Do you know the saying, “You have to spend money to make money?” Well, I believe this applies to XpresSpa.
To pivot from spa treatments — on hold since March and not likely to resume operations until the fourth quarter or later — to Covid-19 takes a big step up in capital requirements. Given it’s generating very little cash flow, traditional financing would be difficult to obtain. A share offering at attractive terms was the only way.
Under this scenario, for CEO Doug Satzman and the rest of the board to not pull the trigger on a direct offering, would, in my opinion, be a breach of their fiduciary duty. To let the company die rather than dilute the shareholders would have been irresponsible and reckless.
Should you buy on the dip?
As I wrote in July, it’s a speculative buy. It was trading around $3.50. Down 22% since the latest news about a 15-minute test combined with $35 million in cash provides investors with an even better risk to reward ratio.
Buy away.
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 XpresSpa Group’s Stock Drop Ignores the Potential of Pivot to Virus Testing 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. | However, on Aug. 24, XpresSpa announced that it had signed a contract with Abbott Labs (NYSE:ABT) to secure 100 ID NOW testing instruments. Last month, I predicted that if the company’s pilot program to provide screening and testing to JFK employees was successful, XSPA would surely revisit $7. To pivot from spa treatments — on hold since March and not likely to resume operations until the fourth quarter or later — to Covid-19 takes a big step up in capital requirements. | However, on Aug. 24, XpresSpa announced that it had signed a contract with Abbott Labs (NYSE:ABT) to secure 100 ID NOW testing instruments. InvestorPlace - Stock Market News, Stock Advice & Trading Tips XpresSpa Group (NASDAQ:XSPA) announced a $35.3 million direct offering Aug. 25 that gave investors one share of XSPA stock and short-term warrants to purchase another at $3.05. Source: Maridav / Shutterstock The news sent the share price for the provider of Covid-19 screening and testing services at JFK International Airport and Newark Liberty International Airport down 20% at the Aug. 26 market open. | However, on Aug. 24, XpresSpa announced that it had signed a contract with Abbott Labs (NYSE:ABT) to secure 100 ID NOW testing instruments. InvestorPlace - Stock Market News, Stock Advice & Trading Tips XpresSpa Group (NASDAQ:XSPA) announced a $35.3 million direct offering Aug. 25 that gave investors one share of XSPA stock and short-term warrants to purchase another at $3.05. Source: Maridav / Shutterstock The news sent the share price for the provider of Covid-19 screening and testing services at JFK International Airport and Newark Liberty International Airport down 20% at the Aug. 26 market open. | However, on Aug. 24, XpresSpa announced that it had signed a contract with Abbott Labs (NYSE:ABT) to secure 100 ID NOW testing instruments. InvestorPlace - Stock Market News, Stock Advice & Trading Tips XpresSpa Group (NASDAQ:XSPA) announced a $35.3 million direct offering Aug. 25 that gave investors one share of XSPA stock and short-term warrants to purchase another at $3.05. The company made the offering because it needs the money to move beyond the two Covid-19 XpresCheck testing facilities (JFK, Newark) that it’s opened in 2020. | 465ea91d-20dd-44a7-b412-33e3bcd9cf4b |
32484.0 | 2020-08-28 00:00:00 UTC | GLOBAL MARKETS-Japan markets roiled by Abe resignation news, stocks choppy after Fed shift | ABT | https://www.nasdaq.com/articles/global-markets-japan-markets-roiled-by-abe-resignation-news-stocks-choppy-after-fed-shift | nan | nan | By Stanley White and Katanga Johnson
TOKYO/WASHINGTON, Aug 28 (Reuters) - Japanese financial markets were roiled in afternoon trade on Friday after news that Japanese Prime Minister Shinzo Abe will resign for health reasons later on in the day.
The Abe development hit markets as investors were still coming to terms with an overnight move by U.S. Federal Reserve to shift its policy framework by placing more emphasis on boosting economic growth and less on worries about letting inflation run too high.
The Fed's move pushed up longer dated U.S. paper and largely supported stocks, while the Japanese share market sold off sharply and the yen rose in the wake of the Abe news.
The 10-year U.S. Treasury US10YT=RR yield rose to 0.7870%, the highest since June 10, which caused the yield curve to steepen, reflecting the Fed's tolerance for higher inflation.
The dollar fell against most major currencies on the Fed's new policy framework. Gold prices XAU= erased early gains and edged higher.
The yen JPY=D3 pulled back from a two-week low and rose to 106.36 against the dollar.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.25% in choppy trade. U.S. stock futures ESc1 rose 0.6%.
Australian stocks .AXJO fell 0.62%. Shares in China .CSI300 rose 1.04%, while Tokyo stocks .N225 erased losses and fell 1.14%
Eurostoxx 50 futures STXEc1 rose 0.54%, German stock futures FDXc1 gained 0.6% and FTSE futures FFIc1 rose 0.49%.
U.S. oil futures fell due to easing concern about the impact of a hurricane that struck the centre of the U.S. oil industry, but Brent futures were marginally higher.
Markets swirled after Fed Chairman Jerome Powell laid out a policy that aims for 2% inflation on average so that too low a pace would be followed by an effort to lift inflation "moderately above 2% for some time."
Powell's comments were widely expected, but some traders in Asia were disappointed that the Fed did not reveal more details about how the new framework will work or provide any clues to what it will do at its next policy meeting.
"Average inflation had been talked up quite a bit, so we knew this was coming," said Yukio Ishizuki, foreign exchange strategist at Daiwa Securities in Tokyo.
"But Powell really didn't reveal much beyond that. Some people who were expecting a clearer steer on policy or some kind of cap on bond yields are left disappointed."
Dallas Fed President Robert Kaplan later said the new policy framework is not a commitment to future action, which contributed to confusion about how it will work, Daiwa's Ishizuki said.
On Wall Street, the Dow Jones Industrial Average .DJI rose 0.57%, the S&P 500 .SPX gained 0.17%, both setting new intraday highs.
The Nasdaq Composite .IXIC dropped 0.34%.
Stocks also rose on news that Abbott Laboratories ABT.N won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results in 15 minutes and will sell for $5. Abbott's shares rose 7.9%.
The yen jumped on a bout of risk aversion as the reports of Abe's resignation rattled traders.
Japan's national broadcaster NHK said Abe was set to resign to avoid causing problems to the government due to a worsening of a chronic health condition. A source subsequently told Reuters he Abe has decided to resign.
There has been speculation about his health all week.
"This is a negative for Japanese stocks because it raises questions about what polices come next. We do see the familiar pattern of falling stocks pushing up the yen," said Junichi Ishikawa, senior foreign exchange strategist at IG Securities in Tokyo.
"But the important point is U.S. stock futures remain in positive territory, showing sentiment is holding up."
Spot gold XAU= advanced 0.72% to $1,942.71 as traders considered the Fed's new stance on inflation.
U.S. crude CLc1 futures fell 0.14% to $42.98 a barrel after U.S. refiners avoided the worst of a storm that struck the U.S. Gulf Coast. Brent crude LCOc1 futures rose 0.2% to $45.10 a barrel.
Global assetshttp://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging marketshttp://tmsnrt.rs/2ihRugV
MSCI All Country Wolrd Index Market Caphttp://tmsnrt.rs/2EmTD6j
(Reporting by Stanley White in Tokyo and Katanga Johnson in Washington; Editing by Richard Chang & Shri Navaratnam)
((stanley.white@tr.com; +81 (0)3 4563 2799; twitter.com/stanleywhite1 ;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks also rose on news that Abbott Laboratories ABT.N won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results in 15 minutes and will sell for $5. The Abe development hit markets as investors were still coming to terms with an overnight move by U.S. Federal Reserve to shift its policy framework by placing more emphasis on boosting economic growth and less on worries about letting inflation run too high. The Fed's move pushed up longer dated U.S. paper and largely supported stocks, while the Japanese share market sold off sharply and the yen rose in the wake of the Abe news. | Stocks also rose on news that Abbott Laboratories ABT.N won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results in 15 minutes and will sell for $5. Shares in China .CSI300 rose 1.04%, while Tokyo stocks .N225 erased losses and fell 1.14% Eurostoxx 50 futures STXEc1 rose 0.54%, German stock futures FDXc1 gained 0.6% and FTSE futures FFIc1 rose 0.49%. "Average inflation had been talked up quite a bit, so we knew this was coming," said Yukio Ishizuki, foreign exchange strategist at Daiwa Securities in Tokyo. | Stocks also rose on news that Abbott Laboratories ABT.N won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results in 15 minutes and will sell for $5. The Fed's move pushed up longer dated U.S. paper and largely supported stocks, while the Japanese share market sold off sharply and the yen rose in the wake of the Abe news. Shares in China .CSI300 rose 1.04%, while Tokyo stocks .N225 erased losses and fell 1.14% Eurostoxx 50 futures STXEc1 rose 0.54%, German stock futures FDXc1 gained 0.6% and FTSE futures FFIc1 rose 0.49%. | Stocks also rose on news that Abbott Laboratories ABT.N won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results in 15 minutes and will sell for $5. The dollar fell against most major currencies on the Fed's new policy framework. U.S. stock futures ESc1 rose 0.6%. | 414d3c67-f240-433a-902b-232b46f8960c |
32485.0 | 2020-08-27 00:00:00 UTC | S&P 500 Airline Stocks, Cruise Stocks Surge on Abbott Labs FDA Approval, Federal Reserve Policy Change | ABT | https://www.nasdaq.com/articles/sp-500-airline-stocks-cruise-stocks-surge-on-abbott-labs-fda-approval-federal-reserve | nan | nan | After spending the first half of the trading session down as much as 0.3%, the S&P 500 Index (SNPINDEX: ^GSPC) rallied in the afternoon, closing up 0.2% on August 27, following news that the U.S. Federal Reserve was making what looks like the biggest change in its policy-setting framework in decades. The change bodes well for stocks, if not so great for many consumers or investors who own bonds.
Additionally, news that broke yesterday is having a positive lift for the market: Abbott Laboratories (NYSE: ABT) was expected to receive emergency use authorization from the U.S. Food and Drug Administration for its 15-minute coronavirus test. It has now officially received that authorization.
Between the continuation of the Fed's low-rate policy focus and the prospects for a low-cost, fast-result test, investors are piling into stocks expected to be beneficiaries of both. Five of the nine biggest-gaining S&P stocks today were airline and cruise stocks, while Abbott Labs was the second-biggest gainer, up 8.2%. Today's best-performing S&P 500 component was Live Nation International (NYSE: LYV), with shares up 8.9%.
Image source: Getty Images.
Abbott Labs tests a major breakthrough for rapid testing
Abbott's BinaxNOW COVID-19 Ag Card test could prove a real game changer. At only $5 and taking about 15 minutes to deliver results, this test is both cheap and fast. First responders and essential workers -- the groups most at risk of exposure to the coronavirus on a daily basis -- will be among the first to undergo the test.
But the prospects for wider use are even greater. It's possible that cruise ships, commercial air travel, concerts, and other public events could also be opened up to larger numbers of people.
Abbott says it will ship tens of millions of tests starting within a few weeks and will be able to make as many as 50 million per month by October. At $5 a pop, that's $250 million per month in revenue the company could pick up for as long as COVID-19 remains a public health risk.
There are limitations. The test must be administered by a healthcare professional, so there's additional expense to have trained professionals ready to administer the test that businesses will have to cover. Moreover, there are accuracy concerns: Data suggest 3% of those who are positive will test negative, and about 1.5% of people who test positive will actually be negative.
Investors see huge upside for cruise, airline, hospitality stocks
Live Nation, one of the world's largest promoters and producers of live entertainment events, has seen its business all but shut down this year, so the prospects of being able to bring more in-person events back before the end of the year would be huge. Investors certainly like the prospects, sending its shares, which are still down 25% from the 2020 high, up sharply today.
Royal Caribbean (NYSE: RCL), Norwegian Cruise Line Holdings (NYSE: NCLH), United Airlines (NASDAQ: UAL), Carnival (NYSE: CCL), and Alaska Air (NYSE: ALK) shares all gained at least 5% today.
In addition to the potential prospects of being able to move a little closer to normal operations via rapid, low-cost testing, these companies all would benefit from the Fed making low interest rates a priority. As a group, these five companies carry more than $70 billion in debt, mostly in junk bonds, and they have all added significantly to their debt loads this year, raising cash just to remain solvent.
RCL Total Long Term Debt (Quarterly) data by YCharts
Today's big gains are on something that could prove meaningful and material, but it's very unclear how quickly -- or slowly -- rapid, low-cost testing could be rolled out in a significant way.
Fifty-million tests per month may sound like a lot, but there are tens of millions of essential workers in the U.S. who would likely get priority and will be tested regularly, not to mention the tens of millions of students, teachers, and other staff who would get priority for test access before any airline's orders were filled.
Broad gains offset tech giant sell-off
Four of the five largest S&P 500 stocks -- by market cap -- fell today, with Apple, Amazon, and Alphabet losing 1% or more and Facebook falling 3.5%. Microsoft (NASDAQ: MSFT) was the only member of the trillion-dollar club to gain in value today, closing up 2.5%.
These heavyweights are usually the tail that wags the market dog, so to speak, and it takes a very broad movement by the market as a whole to counter their direction. That happened today, with well over 300 of the S&P 500 component stocks moving higher today, helping the index close in positive territory.
Walmart and Microsoft up on TikTok deal prospects
Microsoft shares moved higher while its fellow mega-cap tech giant's shares fell, after CNBC broke the news that it, along with Walmart (NYSE: WMT) were now the leading bidders to acquire TikTok's North American and some other geographical operations. While Microsoft has long been considered a top bidder for the Chinese video-sharing platform, the surprising addition of Walmart in a partnership, which the company has confirmed, has excited investors. Walmart shares gained 4.5% today.
Whether the tech and retail giants' partnership will result in a winning bid remains to be seen. ByteDance, the Chinese company that owns TikTok, has filed suit against the Trump Administration over the President's executive order that would essentially ban TikTok in the U.S., and it's not clear whether a sale will happen or not.
Moreover, investors need to consider whether buying TikTok at all even makes sense for the two companies or will deliver meaningful value for shareholders. Stay tuned for more as the story develops.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. Jason Hall owns shares of Alphabet (A shares). The Motley Fool owns shares of and recommends Alphabet (A shares), Amazon, Apple, Facebook, Live Nation Entertainment, and Microsoft. The Motley Fool recommends Alaska Air Group and Carnival and recommends the following options: long January 2021 $85 calls on Microsoft, short January 2021 $115 calls on Microsoft, short January 2022 $1940 calls on Amazon, and long January 2022 $1920 calls on Amazon. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Additionally, news that broke yesterday is having a positive lift for the market: Abbott Laboratories (NYSE: ABT) was expected to receive emergency use authorization from the U.S. Food and Drug Administration for its 15-minute coronavirus test. After spending the first half of the trading session down as much as 0.3%, the S&P 500 Index (SNPINDEX: ^GSPC) rallied in the afternoon, closing up 0.2% on August 27, following news that the U.S. Federal Reserve was making what looks like the biggest change in its policy-setting framework in decades. RCL Total Long Term Debt (Quarterly) data by YCharts Today's big gains are on something that could prove meaningful and material, but it's very unclear how quickly -- or slowly -- rapid, low-cost testing could be rolled out in a significant way. | Additionally, news that broke yesterday is having a positive lift for the market: Abbott Laboratories (NYSE: ABT) was expected to receive emergency use authorization from the U.S. Food and Drug Administration for its 15-minute coronavirus test. Royal Caribbean (NYSE: RCL), Norwegian Cruise Line Holdings (NYSE: NCLH), United Airlines (NASDAQ: UAL), Carnival (NYSE: CCL), and Alaska Air (NYSE: ALK) shares all gained at least 5% today. The Motley Fool owns shares of and recommends Alphabet (A shares), Amazon, Apple, Facebook, Live Nation Entertainment, and Microsoft. | Additionally, news that broke yesterday is having a positive lift for the market: Abbott Laboratories (NYSE: ABT) was expected to receive emergency use authorization from the U.S. Food and Drug Administration for its 15-minute coronavirus test. Fifty-million tests per month may sound like a lot, but there are tens of millions of essential workers in the U.S. who would likely get priority and will be tested regularly, not to mention the tens of millions of students, teachers, and other staff who would get priority for test access before any airline's orders were filled. Walmart and Microsoft up on TikTok deal prospects Microsoft shares moved higher while its fellow mega-cap tech giant's shares fell, after CNBC broke the news that it, along with Walmart (NYSE: WMT) were now the leading bidders to acquire TikTok's North American and some other geographical operations. | Additionally, news that broke yesterday is having a positive lift for the market: Abbott Laboratories (NYSE: ABT) was expected to receive emergency use authorization from the U.S. Food and Drug Administration for its 15-minute coronavirus test. Fifty-million tests per month may sound like a lot, but there are tens of millions of essential workers in the U.S. who would likely get priority and will be tested regularly, not to mention the tens of millions of students, teachers, and other staff who would get priority for test access before any airline's orders were filled. Walmart shares gained 4.5% today. | d9cedb6f-24fd-4a4c-a5e6-f0ccc9a6a096 |
32486.0 | 2020-08-27 00:00:00 UTC | GLOBAL MARKETS-Treasury yields, dollar gain after Fed's historic policy shift | ABT | https://www.nasdaq.com/articles/global-markets-treasury-yields-dollar-gain-after-feds-historic-policy-shift-2020-08-27 | nan | nan | By Stanley White and Katanga Johnson
TOKYO/WASHINGTON, Aug 28 (Reuters) - Longer-dated Treasury yields and the dollar rose in Asia on Friday after the U.S. Federal Reserve shifted its policy framework to place more emphasis on boosting economic growth and less on worries about letting inflation run too high.
The 10-year U.S. Treasury US10YT=RR yield rose to 0.7870%, the highest since June 10, which caused the yield curve to steepen, reflecting the Fed's tolerance for higher inflation.
The dollar hit a two-week high against the yen JPY=D3 but held steady against most other major currencies. Gold prices XAU= erased early gains and edged higher.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS bounced between gains and losses in choppy trade. U.S. stock futures ESc1 rose 0.25%.
Australian stocks .AXJO fell 0.85%. Shares in China .CSI300 rose 0.33%, while Tokyo stocks .N225 gained 0.16%.
Oil futures fell due to easing concern about the impact of a hurricane that struck the centre of the U.S. oil industry.
Markets swirled after Fed Chairman Jerome Powell laid out a policy that aims for 2% inflation on average so that too low a pace would be followed by an effort to lift inflation "moderately above 2% for some time."
Powell's comments were widely expected, but some traders in Asia were disappointed that the Fed did not reveal more details about how the new framework will work or provide any clues to what it will do at its next policy meeting.
"Average inflation had been talked up quite a bit, so we knew this was coming," said Yukio Ishizuki, foreign exchange strategist at Daiwa Securities in Tokyo.
"But Powell really didn't reveal much beyond that. Some people who were expecting a clearer steer on policy or some kind of cap on bond yields are left disappointed."
Dallas Fed President Robert Kaplan later said the new policy framework is not a commitment to future action, which contributed to confusion about how it will work, Daiwa's Ishizuki said.
On Wall Street, the Dow Jones Industrial Average .DJI rose 0.57%, the S&P 500 .SPX gained 0.17%, both setting new intraday highs.
The Nasdaq Composite .IXIC dropped 0.34%.
Stocks also rose on news that Abbott Laboratories ABT.N won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results in 15 minutes and will sell for $5. Abbott's shares rose 7.9%.
The dollar rose against the yen but weakened slightly against the Australian dollar AUD=D3, the British pound GBP=D3 and the yuan CNY=CFXS.
Spot gold XAU= advanced 0.32% to $1,935.07 as traders considered the Fed's new stance on inflation.
U.S. crude CLc1 futures fell 0.1% to $42.98 a barrel. Brent crude LCOc1 futures fell to $45.07 a barrel after U.S. refiners avoided the worst of a storm that struck the U.S. Gulf Coast.
Global assetshttp://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging marketshttp://tmsnrt.rs/2ihRugV
MSCI All Country Wolrd Index Market Caphttp://tmsnrt.rs/2EmTD6j
(Reporting by Stanley White in Tokyo and Katanga Johnson in Washington; Editing by Richard Chang & Shri Navaratnam)
((stanley.white@tr.com; +81 (0)3 4563 2799; twitter.com/stanleywhite1 ;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks also rose on news that Abbott Laboratories ABT.N won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results in 15 minutes and will sell for $5. By Stanley White and Katanga Johnson TOKYO/WASHINGTON, Aug 28 (Reuters) - Longer-dated Treasury yields and the dollar rose in Asia on Friday after the U.S. Federal Reserve shifted its policy framework to place more emphasis on boosting economic growth and less on worries about letting inflation run too high. Powell's comments were widely expected, but some traders in Asia were disappointed that the Fed did not reveal more details about how the new framework will work or provide any clues to what it will do at its next policy meeting. | Stocks also rose on news that Abbott Laboratories ABT.N won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results in 15 minutes and will sell for $5. By Stanley White and Katanga Johnson TOKYO/WASHINGTON, Aug 28 (Reuters) - Longer-dated Treasury yields and the dollar rose in Asia on Friday after the U.S. Federal Reserve shifted its policy framework to place more emphasis on boosting economic growth and less on worries about letting inflation run too high. Shares in China .CSI300 rose 0.33%, while Tokyo stocks .N225 gained 0.16%. | Stocks also rose on news that Abbott Laboratories ABT.N won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results in 15 minutes and will sell for $5. By Stanley White and Katanga Johnson TOKYO/WASHINGTON, Aug 28 (Reuters) - Longer-dated Treasury yields and the dollar rose in Asia on Friday after the U.S. Federal Reserve shifted its policy framework to place more emphasis on boosting economic growth and less on worries about letting inflation run too high. Markets swirled after Fed Chairman Jerome Powell laid out a policy that aims for 2% inflation on average so that too low a pace would be followed by an effort to lift inflation "moderately above 2% for some time." | Stocks also rose on news that Abbott Laboratories ABT.N won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results in 15 minutes and will sell for $5. Shares in China .CSI300 rose 0.33%, while Tokyo stocks .N225 gained 0.16%. Powell's comments were widely expected, but some traders in Asia were disappointed that the Fed did not reveal more details about how the new framework will work or provide any clues to what it will do at its next policy meeting. | 5bba059e-a7f1-4006-bc65-861097de4cd3 |
32487.0 | 2020-08-27 00:00:00 UTC | GLOBAL MARKETS-Asian stocks may be choppy despite U.S. Fed inflation shift, COVID outlook | ABT | https://www.nasdaq.com/articles/global-markets-asian-stocks-may-be-choppy-despite-u.s.-fed-inflation-shift-covid-outlook | nan | nan | By Katanga Johnson
WASHINGTON, Aug 27 (Reuters) - Asian equities are likely to have a bumpy ride on Friday after U.S. stocks scaled new peaks for a third straight day and bond yields surged on the Federal Reserve's average-inflation strategy, as well as a promising development in curbing the coronavirus pandemic.
Markets swirled after Fed Chairman Jerome Powell laid out a policy that aims for 2% inflation on average so that too low a pace would be followed by an effort to lift inflation "moderately above 2% for some time."
As investors tried to digest its ramifications, gold rose, and then fell. Yields gained on longer-dated government bonds fell, and then rose.
The dollar rebounded after an initial drop and gold prices flipped in choppy trade, retreating from early gains on Powell's comments, which investors had widely expected.
"There seems to be a bit of rotation with regards to the news today and how the market has responded, giving the markets a value bump," said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts.
"The steepening of the yield curve is a welcome addition, particularly on a day when the market is rising," Keator added.
Australian S&P/ASX 200 futures YAPcm1 lost 0.15% in early trading.
Japan's Nikkei 225 futures NKc1 added 0.09%, while the Nikkei 225 index .N225 closed the overnight session down 0.35% Hong Kong's Hang Seng index futures .HSI, HSIc1 rose 0.05%.
On Wall Street, the Dow Jones Industrial Average .DJI rose 160.35 points, or 0.57%, to 28,492.27, the S&P 500 .SPX gained 5.82 points, or 0.17%, at 3,484.55, both setting new intraday highs.
The Nasdaq Composite .IXIC dropped 39.72 points, or 0.34%, to 11,625.34.
MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.14%.
Emerging market stocks lost 0.19%. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.14% lower, while Japan's Nikkei .N225 %.
Stocks also rose on news that Abbott Laboratories ABT.N won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results in 15 minutes and will sell for $5. Abbott shares rose 7.9%.
But as negotiations between the Republicans and Democrats on another coronavirus aid package have stalled, some analysts worry this will eventually threaten the equity-market rally
Crude oil declined 0.28% to $42.90 per barrel as Hurricane Laura, which initially made landfall in the heart of the U.S. oil industry and forced oil rigs and refineries to shut down, began to weaken.
The dollar index =USD rose 0.217%, with the euro EUR= down 0.03% to $1.1818 and spot gold prices XAU= dropped 0.1% to $1,927.81 an ounce.
The number of Americans filing new claims for unemployment benefits hovered around 1 million last week, while the U.S. economy suffered its sharpest contraction in at least 73 years in the second quarter, two government entities said.
The 10-year U.S. Treasury US10YT=RR note rose to yield 0.7538% from 0.746%.
Global assetshttp://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging marketshttp://tmsnrt.rs/2ihRugV
MSCI All Country Wolrd Index Market Caphttp://tmsnrt.rs/2EmTD6j
(Reporting by Katanga Johnson; Editing by Richard Chang)
((Katanga.Johnson@thomsonreuters.com; 202-898-8403; Reuters Messaging: Katanga.Johnson.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. | Stocks also rose on news that Abbott Laboratories ABT.N won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results in 15 minutes and will sell for $5. By Katanga Johnson WASHINGTON, Aug 27 (Reuters) - Asian equities are likely to have a bumpy ride on Friday after U.S. stocks scaled new peaks for a third straight day and bond yields surged on the Federal Reserve's average-inflation strategy, as well as a promising development in curbing the coronavirus pandemic. The dollar rebounded after an initial drop and gold prices flipped in choppy trade, retreating from early gains on Powell's comments, which investors had widely expected. | Stocks also rose on news that Abbott Laboratories ABT.N won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results in 15 minutes and will sell for $5. The dollar rebounded after an initial drop and gold prices flipped in choppy trade, retreating from early gains on Powell's comments, which investors had widely expected. Japan's Nikkei 225 futures NKc1 added 0.09%, while the Nikkei 225 index .N225 closed the overnight session down 0.35% Hong Kong's Hang Seng index futures .HSI, HSIc1 rose 0.05%. | Stocks also rose on news that Abbott Laboratories ABT.N won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results in 15 minutes and will sell for $5. Japan's Nikkei 225 futures NKc1 added 0.09%, while the Nikkei 225 index .N225 closed the overnight session down 0.35% Hong Kong's Hang Seng index futures .HSI, HSIc1 rose 0.05%. Global assetshttp://tmsnrt.rs/2jvdmXl Global currencies vs. dollar http://tmsnrt.rs/2egbfVh Emerging marketshttp://tmsnrt.rs/2ihRugV MSCI All Country Wolrd Index Market Caphttp://tmsnrt.rs/2EmTD6j (Reporting by Katanga Johnson; Editing by Richard Chang) ((Katanga.Johnson@thomsonreuters.com; 202-898-8403; Reuters Messaging: Katanga.Johnson.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. | Stocks also rose on news that Abbott Laboratories ABT.N won U.S. marketing authorization for a COVID-19 portable antigen test that can deliver results in 15 minutes and will sell for $5. Yields gained on longer-dated government bonds fell, and then rose. The Nasdaq Composite .IXIC dropped 39.72 points, or 0.34%, to 11,625.34. | 8704a1c9-5326-473c-afa1-6f0967a1b1d1 |
32488.0 | 2020-08-27 00:00:00 UTC | Why a New COVID-19 Test Is Giving Shake Shack and Other Restaurants a Big Boost | ABT | https://www.nasdaq.com/articles/why-a-new-covid-19-test-is-giving-shake-shack-and-other-restaurants-a-big-boost-2020-08-27 | nan | nan | With Abbott Laboratories (NYSE: ABT) developing a $5 COVID-19 test that takes 15 minutes to produce results with no additional equipment required, dozens of restaurant stocks climbed today, including Shake Shack (NYSE: SHAK), up 6%, The Cheesecake Factory (NASDAQ: CAKE), with 4.91% gains, Bloomin' Brands, Inc. (NASDAQ: BLMN), up 3%, and Darden Restaurants (NYSE: DRI), up 3.66%, among others.
Those restaurants with a significant dine-in business model often posted larger gains than quick-service restaurants, which frequently saw modest stock market gains or even slight losses in trading today. Restaurant Brands International (NYSE: QSR) gained just 0.02%, for example, while McDonald's Corporation (NYSE: MCD) lost 0.73% of its value. Another loser was food delivery service Grubhub (NYSE: GRUB), which sank 2.05%.
Image source: Getty Images.
A quick, cheap COVID-19 test capable of being rapidly administered to millions of people, and providing same-day results, could benefit the dine-in restaurant sector in several ways. Such a test offers the possibility of rapid, complete containment of the pandemic as the infected are quarantined and the healthy are "cleared" to resume normal work, dining, entertainment, and other activities. Even if this scenario doesn't fully play out and the coronavirus continues to spread at a reduced level, a cheap, fast test could theoretically facilitate testing of restaurant personnel on arrival if enough tests are made available, allowing ongoing assurance of service staff health.
According to Fast Company, Abbott's test cards work rapidly because they detect proteins from the virus' outer shell rather than requiring DNA analysis. The same source quotes Abbott as claiming the test is 97.1% to 98.5% accurate. The Chicago Business Journal adds the Trump administration is expected to order 150 million test cards, providing Abbott with a $750 million up-front order and enabling further production of its breakthrough technology.
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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. | With Abbott Laboratories (NYSE: ABT) developing a $5 COVID-19 test that takes 15 minutes to produce results with no additional equipment required, dozens of restaurant stocks climbed today, including Shake Shack (NYSE: SHAK), up 6%, The Cheesecake Factory (NASDAQ: CAKE), with 4.91% gains, Bloomin' Brands, Inc. (NASDAQ: BLMN), up 3%, and Darden Restaurants (NYSE: DRI), up 3.66%, among others. A quick, cheap COVID-19 test capable of being rapidly administered to millions of people, and providing same-day results, could benefit the dine-in restaurant sector in several ways. Such a test offers the possibility of rapid, complete containment of the pandemic as the infected are quarantined and the healthy are "cleared" to resume normal work, dining, entertainment, and other activities. | With Abbott Laboratories (NYSE: ABT) developing a $5 COVID-19 test that takes 15 minutes to produce results with no additional equipment required, dozens of restaurant stocks climbed today, including Shake Shack (NYSE: SHAK), up 6%, The Cheesecake Factory (NASDAQ: CAKE), with 4.91% gains, Bloomin' Brands, Inc. (NASDAQ: BLMN), up 3%, and Darden Restaurants (NYSE: DRI), up 3.66%, among others. According to Fast Company, Abbott's test cards work rapidly because they detect proteins from the virus' outer shell rather than requiring DNA analysis. The Chicago Business Journal adds the Trump administration is expected to order 150 million test cards, providing Abbott with a $750 million up-front order and enabling further production of its breakthrough technology. | With Abbott Laboratories (NYSE: ABT) developing a $5 COVID-19 test that takes 15 minutes to produce results with no additional equipment required, dozens of restaurant stocks climbed today, including Shake Shack (NYSE: SHAK), up 6%, The Cheesecake Factory (NASDAQ: CAKE), with 4.91% gains, Bloomin' Brands, Inc. (NASDAQ: BLMN), up 3%, and Darden Restaurants (NYSE: DRI), up 3.66%, among others. Even if this scenario doesn't fully play out and the coronavirus continues to spread at a reduced level, a cheap, fast test could theoretically facilitate testing of restaurant personnel on arrival if enough tests are made available, allowing ongoing assurance of service staff health. See the 10 stocks *Stock Advisor returns as of August 1, 2020 Rhian Hunt has no position in any of the stocks mentioned. | With Abbott Laboratories (NYSE: ABT) developing a $5 COVID-19 test that takes 15 minutes to produce results with no additional equipment required, dozens of restaurant stocks climbed today, including Shake Shack (NYSE: SHAK), up 6%, The Cheesecake Factory (NASDAQ: CAKE), with 4.91% gains, Bloomin' Brands, Inc. (NASDAQ: BLMN), up 3%, and Darden Restaurants (NYSE: DRI), up 3.66%, among others. Restaurant Brands International (NYSE: QSR) gained just 0.02%, for example, while McDonald's Corporation (NYSE: MCD) lost 0.73% of its value. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | f09ec5fa-936c-48c2-b7ab-e99ee81938d9 |
32489.0 | 2020-08-27 00:00:00 UTC | Why Fluidigm Stock Plunged Today | ABT | https://www.nasdaq.com/articles/why-fluidigm-stock-plunged-today-2020-08-27 | nan | nan | What happened
Shares of Fluidigm (NASDAQ: FLDM) plummeted on Thursday after a powerful rival announced a major development in the COVID-19 diagnostic race.
So what
What a difference a day makes. After soaring 30% on Wednesday following news that its saliva-based coronavirus test had received an emergency use authorization from the U.S. Food and Drug Administration (FDA), Fluidigm gave up all of those gains today.
Fluidigm's stock made a round trip over the past two days. Image source: Getty Images.
Yesterday, investors were excited about the potentially massive market opportunity for Fluidigm's new test. Today, however, they're decidedly less so, following news that healthcare giant Abbott Laboratories (NYSE: ABT) had also been granted an emergency use authorization by the FDA.
Now what
Abbott's test reportedly costs only $5 and can deliver results in just 15 minutes. It also requires no special lab equipment. And its results can be displayed via a free app that Abbott says could potentially be used as a "temporary digital health pass." The healthcare titan expects demand to be strong for its new test, and it's ramping up production to be able to provide 50 million tests per month beginning in October.
For these reasons -- and although it's not a saliva-based test, like that of Fluidigm -- Abbott's test is considered to be a major breakthrough in the battle against COVID-19. In turn, investors reset their growth expectations for Fluidigm, and its stock price fell in kind.
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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. | Today, however, they're decidedly less so, following news that healthcare giant Abbott Laboratories (NYSE: ABT) had also been granted an emergency use authorization by the FDA. What happened Shares of Fluidigm (NASDAQ: FLDM) plummeted on Thursday after a powerful rival announced a major development in the COVID-19 diagnostic race. After soaring 30% on Wednesday following news that its saliva-based coronavirus test had received an emergency use authorization from the U.S. Food and Drug Administration (FDA), Fluidigm gave up all of those gains today. | Today, however, they're decidedly less so, following news that healthcare giant Abbott Laboratories (NYSE: ABT) had also been granted an emergency use authorization by the FDA. For these reasons -- and although it's not a saliva-based test, like that of Fluidigm -- Abbott's test is considered to be a major breakthrough in the battle against COVID-19. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | Today, however, they're decidedly less so, following news that healthcare giant Abbott Laboratories (NYSE: ABT) had also been granted an emergency use authorization by the FDA. For these reasons -- and although it's not a saliva-based test, like that of Fluidigm -- Abbott's test is considered to be a major breakthrough in the battle against COVID-19. 10 stocks we like better than Fluidigm When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | Today, however, they're decidedly less so, following news that healthcare giant Abbott Laboratories (NYSE: ABT) had also been granted an emergency use authorization by the FDA. For these reasons -- and although it's not a saliva-based test, like that of Fluidigm -- Abbott's test is considered to be a major breakthrough in the battle against COVID-19. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | 33fe6f19-0bad-45a9-ae70-6e3e2e891a74 |
32490.0 | 2020-08-27 00:00:00 UTC | 4 Top Stock Trades for Friday: WMT, ULTA, ABT, QDEL | ABT | https://www.nasdaq.com/articles/4-top-stock-trades-for-friday%3A-wmt-ulta-abt-qdel-2020-08-27 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The market was a bit wobbly today, but several indices still found a way to hit new all-time highs. With that in mind, let’s look at a few top stock trades for Friday.
Top Stock Trades for Tomorrow No. 1: Walmart (WMT)
Click to Enlarge
Source: Chart courtesy of StockCharts.com
Walmart (NYSE:WMT) caught a major bid on Thursday as reports swirled that it’s working with Microsoft (NASDAQ:MSFT) on a deal for TikTok’s U.S. operations.
Shares ended the day up about 4.5%, but are being sold from the highs. It’s got WMT stock stuck right at the 161.8% extension, a level that denied Walmart earlier this month.
Let’s see if shares can close above this mark. If they can, it puts Thursday’s high back in play at $139.15. Above that, and investors may very well turn their attention to the two-times range extension up at $145.75.
30 Dividend Stocks to Buy Now for 20 Years of Income Growth
A close below the 161.8% extension, however, could cause WMT to lose some air. In that case, see that the $133 area acts as support. Below uptrend support (blue line) puts the 50-day moving average on the table.
Top Stock Trades for Tomorrow No. 2: Ulta Beauty (ULTA)
Click to Enlarge
Source: Chart courtesy of StockCharts.com
From May through the first part of August, the $188 to $190 area was dependable support in Ulta Beauty (NASDAQ:ULTA).
And after a rally to the 200-day moving average, the stock found this to be resistance. However, it also found the 20-day and 50-day moving averages as support as the stock put in a higher low.
These are positive developments, as shares now sit just below the 200-day moving average and stiff downtrend resistance (blue line). This action has us watching a few main levels with earnings due up after the close.
On a move higher, see that Ulta clears the $230 area, putting it above the 200-day and downtrend resistance. That puts the $250 to $255 area in play, which is the high from June. Keep in mind, the 200-week moving average is up at $258.
On a bearish reaction, though, I want to again see the 20-day and 50-day moving averages hold as support, as well as last week’s low at $203.90. It’s worth mentioning that Ulta’s 10-week and 20-week moving averages are also nearby, at $212 and $214, respectively.
Below all of these marks, and the $188 to $190 area will again be in focus.
Top Stock Trades for Tomorrow No. 3: Abbott Labs (ABT)
Click to Enlarge
Source: Chart courtesy of StockCharts.com
Abbott Labs (NYSE:ABT) caught a nice boost on Thursday, rising almost 8% on news of its new rapid test for the novel coronavirus.
After breaking out over downtrend resistance in July, this name has slowly but surely been grinding higher. While the 138.2% extension was acting as resistance, shares burst over this mark on Thursday, opening and holding above the 161.8% extension.
I really like the price action here — it’s constructive without being obnoxious.
10 S&P 500 Stocks to Buy for Growth and Value
In any regard, look for ABT to hold up above the 161.8% extension now. Below puts Thursday’s low in play. Below that and shares could fill the gap back toward $100. Above Thursday’s high puts the two-times range extension in play near $122.
Top Stock Trades for Tomorrow No. 4: Quidel (QDEL)
Click to Enlarge
Source: Chart courtesy of StockCharts.com
Quidel (NASDAQ:QDEL) shares were obliterated on Thursday, falling almost 40% at its lows.
However, that’s also where the stock found support, as its 200-day moving average came into play. Given the session’s wide range, it makes it difficult for those that didn’t buy the dip down into support.
If you missed it, let’s consider giving QDEL a few more days to consolidate. Perhaps it will give us a shot near prior support around $148 to $150 or another test-and-hold of the 200-day moving average.
Stretching out the entire 2020 range, bulls who are long can target $190 on the upside, which is roughly the 50% retracement. Should it get there, we can re-evaluate the stock from there.
Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret did not hold a position in any of the aforementioned securities.
The post 4 Top Stock Trades for Friday: WMT, ULTA, ABT, QDEL appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Click to Enlarge Source: Chart courtesy of StockCharts.com Abbott Labs (NYSE:ABT) caught a nice boost on Thursday, rising almost 8% on news of its new rapid test for the novel coronavirus. 3: Abbott Labs (ABT) 10 S&P 500 Stocks to Buy for Growth and Value In any regard, look for ABT to hold up above the 161.8% extension now. | Click to Enlarge Source: Chart courtesy of StockCharts.com Abbott Labs (NYSE:ABT) caught a nice boost on Thursday, rising almost 8% on news of its new rapid test for the novel coronavirus. 3: Abbott Labs (ABT) 10 S&P 500 Stocks to Buy for Growth and Value In any regard, look for ABT to hold up above the 161.8% extension now. | The post 4 Top Stock Trades for Friday: WMT, ULTA, ABT, QDEL appeared first on InvestorPlace. 3: Abbott Labs (ABT) Click to Enlarge Source: Chart courtesy of StockCharts.com Abbott Labs (NYSE:ABT) caught a nice boost on Thursday, rising almost 8% on news of its new rapid test for the novel coronavirus. | The post 4 Top Stock Trades for Friday: WMT, ULTA, ABT, QDEL appeared first on InvestorPlace. 3: Abbott Labs (ABT) Click to Enlarge Source: Chart courtesy of StockCharts.com Abbott Labs (NYSE:ABT) caught a nice boost on Thursday, rising almost 8% on news of its new rapid test for the novel coronavirus. | 2b0b074e-ddb2-4fc3-8bb5-bacf26fc5091 |
32491.0 | 2020-08-27 00:00:00 UTC | Noteworthy Thursday Option Activity: ABT, BYND, GS | ABT | https://www.nasdaq.com/articles/noteworthy-thursday-option-activity%3A-abt-bynd-gs-2020-08-27 | nan | nan | Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Abbott Laboratories (Symbol: ABT), where a total of 209,008 contracts have traded so far, representing approximately 20.9 million underlying shares. That amounts to about 610.2% of ABT's average daily trading volume over the past month of 3.4 million shares. Particularly high volume was seen for the $120 strike call option expiring September 04, 2020, with 28,186 contracts trading so far today, representing approximately 2.8 million underlying shares of ABT. Below is a chart showing ABT's trailing twelve month trading history, with the $120 strike highlighted in orange:
Beyond Meat Inc (Symbol: BYND) options are showing a volume of 208,332 contracts thus far today. That number of contracts represents approximately 20.8 million underlying shares, working out to a sizeable 590.4% of BYND's average daily trading volume over the past month, of 3.5 million shares. Especially high volume was seen for the $140 strike call option expiring August 28, 2020, with 22,802 contracts trading so far today, representing approximately 2.3 million underlying shares of BYND. Below is a chart showing BYND's trailing twelve month trading history, with the $140 strike highlighted in orange:
And Goldman Sachs Group Inc (the (Symbol: GS) saw options trading volume of 78,968 contracts, representing approximately 7.9 million underlying shares or approximately 305.6% of GS's average daily trading volume over the past month, of 2.6 million shares. Especially high volume was seen for the $210 strike call option expiring August 28, 2020, with 13,050 contracts trading so far today, representing approximately 1.3 million underlying shares of GS. Below is a chart showing GS's trailing twelve month trading history, with the $210 strike highlighted in orange:
For the various different available expirations for ABT options, BYND options, or GS 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 $120 strike call option expiring September 04, 2020, with 28,186 contracts trading so far today, representing approximately 2.8 million underlying shares of ABT. Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Abbott Laboratories (Symbol: ABT), where a total of 209,008 contracts have traded so far, representing approximately 20.9 million underlying shares. That amounts to about 610.2% of ABT's average daily trading volume over the past month of 3.4 million shares. | Below is a chart showing ABT's trailing twelve month trading history, with the $120 strike highlighted in orange: Beyond Meat Inc (Symbol: BYND) options are showing a volume of 208,332 contracts thus far today. Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Abbott Laboratories (Symbol: ABT), where a total of 209,008 contracts have traded so far, representing approximately 20.9 million underlying shares. That amounts to about 610.2% of ABT's average daily trading volume over the past month of 3.4 million shares. | Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Abbott Laboratories (Symbol: ABT), where a total of 209,008 contracts have traded so far, representing approximately 20.9 million underlying shares. That amounts to about 610.2% of ABT's average daily trading volume over the past month of 3.4 million shares. Particularly high volume was seen for the $120 strike call option expiring September 04, 2020, with 28,186 contracts trading so far today, representing approximately 2.8 million underlying shares of ABT. | Particularly high volume was seen for the $120 strike call option expiring September 04, 2020, with 28,186 contracts trading so far today, representing approximately 2.8 million underlying shares of ABT. Below is a chart showing GS's trailing twelve month trading history, with the $210 strike highlighted in orange: For the various different available expirations for ABT options, BYND options, or GS options, visit StockOptionsChannel.com. Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Abbott Laboratories (Symbol: ABT), where a total of 209,008 contracts have traded so far, representing approximately 20.9 million underlying shares. | a3d96268-5d5b-467b-9d74-384b68d8a233 |
32492.0 | 2020-08-27 00:00:00 UTC | S&P, Dow close higher on new Fed inflation stance, COVID test hopes | ABT | https://www.nasdaq.com/articles/sp-dow-close-higher-on-new-fed-inflation-stance-covid-test-hopes-2020-08-27-0 | nan | nan | By Stephen Culp
NEW YORK, Aug 27 (Reuters) - The S&P 500 and the Dow advanced but the Nasdaq closed lower on Thursday as investors digested the U.S. Federal Reserve's new strategy to adopt an average inflation target and restore the United States to full employment, as well as a promising development in the fight to contain the coronavirus pandemic.
The Fed's new strategy sent Treasury yields higher, which gave a lift to interest rate-sensitive financials .SPSY.
"The steepening of the yield curve is a welcome addition, particularly on a day where the market is rising," said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts.
The financial sector provided the biggest boost to the S&P 500 and the Dow, pushing the former to its fifth straight record closing high and the latter within a hair's breadth of reclaiming positive territory for the year so far.
The Dow remains more than 3.6% below its record high reached in February.
Stocks lost steam late in the session following House of Representatives Speaker Nancy Pelosi issued a statement saying Democrats and Republicans remain far apart over the next stimulus bill.
Declines in market-leading momentum stocks capped gains in the S&P and Dow and held the Nasdaq in the red.
"There seems to be a bit of rotation with regards to the news today and how the market has responded, giving the markets a value bump," Keator added.
Shares of Abbott Laboratories ABT.Njumped 7.8% after the company won U.S. approval to market a cheap, portable, rapid COVID-19 antigen test, which could be a step toward containing the pandemic that sent the U.S. economy spiraling into recession.
Economic recovery was forefront in Fed Chairman Jerome Powell's remarks made as part of the Kansas City Fed's virtual Jackson Hole symposium. In the speech Powell outlined the central bank's aggressive new strategy to support the economy by lifting inflation and returning the economy to full employment.
"The statement by Powell in some regards is telegraphing a continued dovish stance for quite some time," Keator said.
But with last week's initial jobless claims stubbornly hovering above the 1 million mark, according to the Labor Department, a return to full employment currently appears to be a long haul.
The Dow Jones Industrial Average .DJIrose 160.35 points, or 0.57%, to 28,492.27, the S&P 500 .SPXgained 5.82 points, or 0.17%, to 3,484.55 and the Nasdaq Composite .IXICdropped 39.72 points, or 0.34%, to 11,625.34.
Of the 11 major sectors in the S&P 500, financials enjoyed the biggest percentage gain while communications services .SPLRCL, weighed down by Netflix Inc NFLX.O and Facebook Inc FB.O, lagged.
Shares of Walmart Inc WMT.N and Microsoft Corp MSFT.O rose 4.5% and 2.5%, respectively after announcing a joint bid for TikTok's U.S. assets.
Boeing Co BA.N rose 1.3% after the European Union Aviation Safety Agency announced plans to begin flight tests of its grounded 737 MAX plane.
Cosmetics maker Coty Inc COTY.N plunged 8.1% after retail closures and weak demand led to a bigger-than-expected quarterly loss.
Advancing issues outnumbered declining ones on the NYSE by a 1.16-to-1 ratio; on Nasdaq, a 1.18-to-1 ratio favored decliners.
The S&P 500 posted 39 new 52-week highs and no new lows; the Nasdaq Composite recorded 62 new highs and 27 new lows.
Volume on U.S. exchanges was 9.16 billion shares, compared with the 9.37 billion average over the last 20 trading days.
(Reporting by Stephen Culp; Editing by Cynthia Osterman)
((stephen.culp@thomsonreuters.com; 646-223-6076;))
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 ABT.Njumped 7.8% after the company won U.S. approval to market a cheap, portable, rapid COVID-19 antigen test, which could be a step toward containing the pandemic that sent the U.S. economy spiraling into recession. By Stephen Culp NEW YORK, Aug 27 (Reuters) - The S&P 500 and the Dow advanced but the Nasdaq closed lower on Thursday as investors digested the U.S. Federal Reserve's new strategy to adopt an average inflation target and restore the United States to full employment, as well as a promising development in the fight to contain the coronavirus pandemic. The financial sector provided the biggest boost to the S&P 500 and the Dow, pushing the former to its fifth straight record closing high and the latter within a hair's breadth of reclaiming positive territory for the year so far. | Shares of Abbott Laboratories ABT.Njumped 7.8% after the company won U.S. approval to market a cheap, portable, rapid COVID-19 antigen test, which could be a step toward containing the pandemic that sent the U.S. economy spiraling into recession. The financial sector provided the biggest boost to the S&P 500 and the Dow, pushing the former to its fifth straight record closing high and the latter within a hair's breadth of reclaiming positive territory for the year so far. In the speech Powell outlined the central bank's aggressive new strategy to support the economy by lifting inflation and returning the economy to full employment. | Shares of Abbott Laboratories ABT.Njumped 7.8% after the company won U.S. approval to market a cheap, portable, rapid COVID-19 antigen test, which could be a step toward containing the pandemic that sent the U.S. economy spiraling into recession. By Stephen Culp NEW YORK, Aug 27 (Reuters) - The S&P 500 and the Dow advanced but the Nasdaq closed lower on Thursday as investors digested the U.S. Federal Reserve's new strategy to adopt an average inflation target and restore the United States to full employment, as well as a promising development in the fight to contain the coronavirus pandemic. "The steepening of the yield curve is a welcome addition, particularly on a day where the market is rising," said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. | Shares of Abbott Laboratories ABT.Njumped 7.8% after the company won U.S. approval to market a cheap, portable, rapid COVID-19 antigen test, which could be a step toward containing the pandemic that sent the U.S. economy spiraling into recession. The Fed's new strategy sent Treasury yields higher, which gave a lift to interest rate-sensitive financials .SPSY. The financial sector provided the biggest boost to the S&P 500 and the Dow, pushing the former to its fifth straight record closing high and the latter within a hair's breadth of reclaiming positive territory for the year so far. | 5ce0e42f-ffbd-4266-a884-b9f0d0926be9 |
32493.0 | 2020-08-27 00:00:00 UTC | Here's Why Quidel, Hologic, and Quest Diagnostics Shares Fell Today | ABT | https://www.nasdaq.com/articles/heres-why-quidel-hologic-and-quest-diagnostics-shares-fell-today-2020-08-27 | nan | nan | What happened
Shares of Quidel (NASDAQ: QDEL) were down a whopping 27% at 2:27 p.m. EDT on Thursday after rival Abbott Laboratories (NYSE: ABT) gained emergency use authorization from the Food and Drug Administration for its 15-minute, $5 test for the novel coronavirus. Fellow test makers Hologic (NASDAQ: HOLX) and Quest Diagnostics (NYSE: DGX) were down 6% and 7%, respectively.
So what
Quidel fell the most because its COVID-19 test, the Sofia SARS Antigen FIA, is in the same class as Abbott's BinaxNOW COVID-19 Ag Card test. Both are so-called antigen tests that detect the coronavirus by looking for the viral proteins rather than genetic material from the coronavirus, which molecular tests detect.
The advantage of testing for proteins versus genetic material is that the latter generally has to be amplified, which takes time and requires a machine to run the molecular amplification steps.
Quidel's test can also generate results in 15 minutes, rivaling Abbott's test, but it requires the testing location to own one of Quidel's Sofia instruments, which can run tests for a wide range of diseases from strep throat to the flu. Abbott's test, on the other hand, is a stand-alone product capable of giving a readout without a separate device..
The FDA has authorized 181 molecular tests, but Abbott's test was only the fourth antigen test to be given an emergency use authorization. In addition to Abbott and Quidel, privately held LumiraDx has a test, as does Becton, Dickinson (NYSE: BDX). The latter's stock was down a modest 3% today, which seems reasonable given that it's a substantially diversified healthcare company with a $71 billion market cap.
Neither Hologic nor Quest has an antigen test, but their FDA authorized molecular tests (Hologic has two and Quest has four) will compete directly with Abbott's BinaxNOW COVID-19 Ag Card test.
Image source: Getty Images.
Now what
While competition is rarely good for any company, Abbott's test may end up substantially expanding the COVID-19 testing market rather than directly taking market share from Quidel, Hologic, and Quest. Testing in the U.S. has certainly been supply-constrained over the last few weeks with reports of patients receiving results weeks after being given the test.
Abbott is also promoting its test as helping to "facilitate return to daily activities." The test will be linked to a new mobile app that patients can use to prove they're not infected with the coronavirus. If the U.S. is at the point where it's testing a lot of asymptomatic people just to make sure they're not positive, the testing market will naturally have to be substantially larger than it is currently.
Even if Abbott cuts into the market share of Quidel, Hologic, and Quest, the three companies are well diversified and should come out of the pandemic ready to get back to promoting the rest of their offerings.
Quidel, for example, should benefit greatly from the increased placements of Sofia instruments, which doctors' offices have been buying primarily so they can offer in-house COVID-19 tests. There were about 50,000 Sofia analyzers installed as of the company's earnings report at the end of July, with the company able to manufacture 2,500 machines per month, which could increase to 7,500 to 10,000 instruments by September. Once the pandemic is over, the company can promote all the other tests that can be run on the Sofia machines, generating recurring revenue that wasn't available previously.
Hologic is in a similar situation. Its COVID-19 molecular tests run on its Panther systems, which can test for other infectious diseases as well. In the most recently completed quarter, the company placed 208 Panther systems, quite a feat considering it was averaging 228 system placements per year over the last several years.
Finally Quest is arguably more diversified than either of the other companies, offering a wide range of diagnostic tests that are routinely ordered by doctors. The company may not experience a post-pandemic boost from new customers, but it should eventually see increased revenue from all the tests that patients have put off as they've avoided doctors' offices during 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. | What happened Shares of Quidel (NASDAQ: QDEL) were down a whopping 27% at 2:27 p.m. EDT on Thursday after rival Abbott Laboratories (NYSE: ABT) gained emergency use authorization from the Food and Drug Administration for its 15-minute, $5 test for the novel coronavirus. The advantage of testing for proteins versus genetic material is that the latter generally has to be amplified, which takes time and requires a machine to run the molecular amplification steps. Even if Abbott cuts into the market share of Quidel, Hologic, and Quest, the three companies are well diversified and should come out of the pandemic ready to get back to promoting the rest of their offerings. | What happened Shares of Quidel (NASDAQ: QDEL) were down a whopping 27% at 2:27 p.m. EDT on Thursday after rival Abbott Laboratories (NYSE: ABT) gained emergency use authorization from the Food and Drug Administration for its 15-minute, $5 test for the novel coronavirus. Quidel's test can also generate results in 15 minutes, rivaling Abbott's test, but it requires the testing location to own one of Quidel's Sofia instruments, which can run tests for a wide range of diseases from strep throat to the flu. Neither Hologic nor Quest has an antigen test, but their FDA authorized molecular tests (Hologic has two and Quest has four) will compete directly with Abbott's BinaxNOW COVID-19 Ag Card test. | What happened Shares of Quidel (NASDAQ: QDEL) were down a whopping 27% at 2:27 p.m. EDT on Thursday after rival Abbott Laboratories (NYSE: ABT) gained emergency use authorization from the Food and Drug Administration for its 15-minute, $5 test for the novel coronavirus. Quidel's test can also generate results in 15 minutes, rivaling Abbott's test, but it requires the testing location to own one of Quidel's Sofia instruments, which can run tests for a wide range of diseases from strep throat to the flu. The FDA has authorized 181 molecular tests, but Abbott's test was only the fourth antigen test to be given an emergency use authorization. | What happened Shares of Quidel (NASDAQ: QDEL) were down a whopping 27% at 2:27 p.m. EDT on Thursday after rival Abbott Laboratories (NYSE: ABT) gained emergency use authorization from the Food and Drug Administration for its 15-minute, $5 test for the novel coronavirus. The FDA has authorized 181 molecular tests, but Abbott's test was only the fourth antigen test to be given an emergency use authorization. Neither Hologic nor Quest has an antigen test, but their FDA authorized molecular tests (Hologic has two and Quest has four) will compete directly with Abbott's BinaxNOW COVID-19 Ag Card test. | 1d3ed335-b11f-4044-b932-d87485ea000c |
32494.0 | 2020-08-27 00:00:00 UTC | Trump administration to purchase 150 mln Abbott COVID-19 tests for $750 mln | ABT | https://www.nasdaq.com/articles/trump-administration-to-purchase-150-mln-abbott-covid-19-tests-for-%24750-mln-2020-08-27 | nan | nan | Adds details on test, background, share price
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 portable test from Abbott 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.
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.
Becton Dickinson and Co BDX.N and Quidel Corp QDEL.O already market antigen tests.
Abbott shares rose 8% to $111.54 in afternoon trading, and the company declined to comment on the latest development.
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
REFILE-UPDATE 1-Abbott wins U.S. authorization for $5 rapid COVID-19 antigen test
(Reporting by Jeff Mason in Washngton; Additional reporting by Ankur Banerjee in Bengaluru; Editing by Dan Grebler and Shounak Dasgupta)
((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. | Adds details on test, background, share price 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. Abbott shares rose 8% to $111.54 in afternoon trading, and the company declined to comment on the latest development. | Adds details on test, background, share price 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 REFILE-UPDATE 1-Abbott wins U.S. authorization for $5 rapid COVID-19 antigen test (Reporting by Jeff Mason in Washngton; Additional reporting by Ankur Banerjee in Bengaluru; Editing by Dan Grebler and Shounak Dasgupta) ((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. | Adds details on test, background, share price 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. 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. So why is it falling so short?https://reut.rs/3b2c1yZ REFILE-UPDATE 1-Abbott wins U.S. authorization for $5 rapid COVID-19 antigen test (Reporting by Jeff Mason in Washngton; Additional reporting by Ankur Banerjee in Bengaluru; Editing by Dan Grebler and Shounak Dasgupta) ((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. | Adds details on test, background, share price 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 portable test from Abbott 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. | f087daee-e5d3-4e75-a796-d452b806b490 |
32495.0 | 2020-08-27 00:00:00 UTC | S&P, Dow head higher on new Fed stance, COVID progress | ABT | https://www.nasdaq.com/articles/sp-dow-head-higher-on-new-fed-stance-covid-progress-2020-08-27 | nan | nan | By Stephen Culp
NEW YORK, Aug 27 (Reuters) - The S&P 500 and the Dow advanced on Thursday as investors digested the U.S. Federal Reserve's new strategy to adopt an average inflation target and restore the United States to full employment, as well as a promising development in the fight against COVID-19.
The Fed's new strategy sent Treasury yields higher, which gave a lift to interest rate-sensitive financials .SPSY.
The sector provided the biggest boost to the S&P 500 and the Dow, helping to put the former on track for a new record closing high and edging the latter closer to reclaiming positive territory for the year so far.
The Dow remains more than 3% below its record high reached in February.
Declines in market-leading momentum stocks capped the S&P's gains and held the Nasdaq in the red.
Shares of Abbott Laboratories ABT.N jumped 7.9% after the company won U.S. approval to market a cheap, portable, rapid COVID-19 antigen test, which could be a step toward containing the pandemic that sent the U.S. economy spiraling into recession.
Economic recovery was forefront in Fed Chairman Jerome Powell's remarks made as part of the Kansas City Fed's virtual Jackson Hole symposium. In the speech Powell outlined the central bank's aggressive new strategy to support the economy by lifting inflation and returning the economy to full employment.
"We're going to have low interest rates as far as we can see and COVID is on the way out because of the inexpensive test that Abbot is introducing soon," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. "It gives investors two reasons to be positive about equities."
But with last week's initial jobless claims stubbornly hovering above the 1 million mark, according to the Labor Department, a return to full employment currently appears to be a long haul.
The Dow Jones Industrial Average .DJI rose 211.78 points, or 0.75%, to 28,543.7, the S&P 500 .SPX gained 10.01 points, or 0.29%, to 3,488.74 and the Nasdaq Composite .IXIC dropped 21.48 points, or 0.18%, to 11,643.58.
Of the 11 major sectors in the S&P 500, financials enjoyed the biggest percentage gain while communications services .SPLRCL, weighed down by Netflix Inc NFLX.O and Facebook Inc FB.O, lagged.
Shares of Walmart Inc WMT.N and Microsoft Corp MSFT.O rose 5.3% and 2.7%, respectively after announcing a joint bid for TikTok's U.S. assets.
Luxury retailer Tiffany & Co TIF.N advanced 1.9% after reporting stronger-than-expected profit just days after delaying its $16.2 billion sale to France's LVMH LVMH.PA.
On the other end of the retail scale, discount stores Dollar General Corp DG.N and Dollar Tree Inc DLTR.O also beat quarterly profit expectations.
Boeing Co BA.N rose 1.4% after the European Union Aviation Safety Agency announced plans to begin flight tests of its grounded 737 MAX plane.
Cosmetics maker Coty Inc COTY.N plunged 8.7% after retail closures and weak demand led to a bigger-than-expected quarterly loss.
Advancing issues outnumbered declining ones on the NYSE by a 1.05-to-1 ratio; on Nasdaq, a 1.30-to-1 ratio favored decliners.
The S&P 500 posted 37 new 52-week highs and no new lows; the Nasdaq Composite recorded 58 new highs and 20 new lows.
(Reporting by Stephen Culp; Editing by Cynthia Osterman)
((stephen.culp@thomsonreuters.com; 646-223-6076;))
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 ABT.N jumped 7.9% after the company won U.S. approval to market a cheap, portable, rapid COVID-19 antigen test, which could be a step toward containing the pandemic that sent the U.S. economy spiraling into recession. By Stephen Culp NEW YORK, Aug 27 (Reuters) - The S&P 500 and the Dow advanced on Thursday as investors digested the U.S. Federal Reserve's new strategy to adopt an average inflation target and restore the United States to full employment, as well as a promising development in the fight against COVID-19. The sector provided the biggest boost to the S&P 500 and the Dow, helping to put the former on track for a new record closing high and edging the latter closer to reclaiming positive territory for the year so far. | Shares of Abbott Laboratories ABT.N jumped 7.9% after the company won U.S. approval to market a cheap, portable, rapid COVID-19 antigen test, which could be a step toward containing the pandemic that sent the U.S. economy spiraling into recession. In the speech Powell outlined the central bank's aggressive new strategy to support the economy by lifting inflation and returning the economy to full employment. The Dow Jones Industrial Average .DJI rose 211.78 points, or 0.75%, to 28,543.7, the S&P 500 .SPX gained 10.01 points, or 0.29%, to 3,488.74 and the Nasdaq Composite .IXIC dropped 21.48 points, or 0.18%, to 11,643.58. | Shares of Abbott Laboratories ABT.N jumped 7.9% after the company won U.S. approval to market a cheap, portable, rapid COVID-19 antigen test, which could be a step toward containing the pandemic that sent the U.S. economy spiraling into recession. By Stephen Culp NEW YORK, Aug 27 (Reuters) - The S&P 500 and the Dow advanced on Thursday as investors digested the U.S. Federal Reserve's new strategy to adopt an average inflation target and restore the United States to full employment, as well as a promising development in the fight against COVID-19. The Dow Jones Industrial Average .DJI rose 211.78 points, or 0.75%, to 28,543.7, the S&P 500 .SPX gained 10.01 points, or 0.29%, to 3,488.74 and the Nasdaq Composite .IXIC dropped 21.48 points, or 0.18%, to 11,643.58. | Shares of Abbott Laboratories ABT.N jumped 7.9% after the company won U.S. approval to market a cheap, portable, rapid COVID-19 antigen test, which could be a step toward containing the pandemic that sent the U.S. economy spiraling into recession. The sector provided the biggest boost to the S&P 500 and the Dow, helping to put the former on track for a new record closing high and edging the latter closer to reclaiming positive territory for the year so far. In the speech Powell outlined the central bank's aggressive new strategy to support the economy by lifting inflation and returning the economy to full employment. | 69069af4-eb23-486c-a094-4b9331b9af22 |
32496.0 | 2020-08-27 00:00:00 UTC | Abbott to Receive Order for 150 Million Rapid COVID-19 Tests | ABT | https://www.nasdaq.com/articles/abbott-to-receive-order-for-150-million-rapid-covid-19-tests-2020-08-27 | nan | nan | Rapid COVID-19 testing in the U.S. might finally get up to speed this fall. According to Politico, the Trump administration struck a $750 million deal with Abbott (NYSE: ABT) to acquire 150 million rapid tests.
On Wednesday, the FDA issued an emergency use authorization (EUA) to Abbott for its BinaxNow COVID-19 Ag Card. This is a $5 test that doesn't require any special equipment and delivers results in 15 minutes from a simple nasal swab.
Image source: Getty Images.
In addition to a humongous government order and ease of use, Abbott's new test has another advantage over the competition. The BinaxNow COVID-19 Ag Card works in concert with NAVICA, a new application for iPhone and Android devices that gives people with negative tests an encrypted digital health pass.
In theory, organizations large and small that insist on recent negative tests before admitting customers and employees can use the app to facilitate building access. The 150 million tests acquired by the U.S. government are set to be used in nursing homes, schools, and other high-risk locations.
According to Abbott, around 2.9% of patients taking the test receive a false negative when they're actually infected. About 1.5% of people who aren't infected will receive a false positive.
Abbott is manufacturing BinaxNow COVID-19 Ag Cards at scale in two new U.S. facilities. The company will begin shipping the test cards in September and expects to deliver at a rate of 50 million tests per month by October.
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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. | According to Politico, the Trump administration struck a $750 million deal with Abbott (NYSE: ABT) to acquire 150 million rapid tests. This is a $5 test that doesn't require any special equipment and delivers results in 15 minutes from a simple nasal swab. The BinaxNow COVID-19 Ag Card works in concert with NAVICA, a new application for iPhone and Android devices that gives people with negative tests an encrypted digital health pass. | According to Politico, the Trump administration struck a $750 million deal with Abbott (NYSE: ABT) to acquire 150 million rapid tests. About 1.5% of people who aren't infected will receive a false positive. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | According to Politico, the Trump administration struck a $750 million deal with Abbott (NYSE: ABT) to acquire 150 million rapid tests. The company will begin shipping the test cards in September and expects to deliver at a rate of 50 million tests per month by October. 10 stocks we like better than Abbott Laboratories When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | According to Politico, the Trump administration struck a $750 million deal with Abbott (NYSE: ABT) to acquire 150 million rapid tests. About 1.5% of people who aren't infected will receive a false positive. The Motley Fool has no position in any of the stocks mentioned. | bc0085f4-8e6f-4d19-bbcb-b864a23f6908 |
32497.0 | 2020-08-27 00:00:00 UTC | Pacific Ethanol Stock Jumped 24% Today: What Investors Need To Know | ABT | https://www.nasdaq.com/articles/pacific-ethanol-stock-jumped-24-today%3A-what-investors-need-to-know-2020-08-27 | nan | nan | What happened
Shares of Pacific Ethanol (NASDAQ: PEIX) rocketed higher when the market opened on Aug. 27, surging more than 24% in the first half hour of trading. At this writing around 12:13 p.m. EDT, shares have cooled off but are still up more than 9%.
This is a reversal for the company's stock price over the past week; even with today's gains, shares are down 28% since Aug. 18. But it's a return to the huge upward trajectory over the duration of the coronavirus crisis. Shares are up 462% since the beginning of 2020, as investors have chased gains in any stock that looks likely to benefit from the pandemic.
Image source: Getty Images.
For Pacific Ethanol, that's the huge growth in demand for high-quality alcohol for cleaning and sanitation supplies. Pictures of empty store shelves in the cleaning aisle over the past few months are a visceral reminder that consumers and healthcare professionals have scrambled to get adequate supplies of these products.
So what
Today's gains seem to be the same thing that has some other stocks moving higher today: The Fed's approval of a strategy that will likely keep interest rates low for some time to come, and the fact that the central bank's putting less emphasis on keeping inflation in check.
Additionally, the news that Abbott Labs (NYSE: ABT) has been given emergency use authorization for a COVID-19 test that costs $5 and delivers a result in 15 minutes is likely having some impact, too.
Now what
The idea here is that the Fed's actions will keep interest rates low, which is great for consumers and businesses but not great for bond investors. On paper, this will keep more investors in stocks.
And the Abbott test could allow more parts of the economy and more businesses to open up to larger groups of people. More people interacting would likely increase the demand for cleaning and sanitation supplies in public places and businesses, as well as potentially boost the demand for ethanol as a fuel as transportation increases.
At least that's the basic idea. Put it all together, and that's a whole lot of speculation on what could happen, without much measurable predictability. Whether it's really going to help drive Pacific Ethanol's bottom line remains to be seen. Either way, investors should count on the stock remaining very volatile for months to come.
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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. | Additionally, the news that Abbott Labs (NYSE: ABT) has been given emergency use authorization for a COVID-19 test that costs $5 and delivers a result in 15 minutes is likely having some impact, too. What happened Shares of Pacific Ethanol (NASDAQ: PEIX) rocketed higher when the market opened on Aug. 27, surging more than 24% in the first half hour of trading. Pictures of empty store shelves in the cleaning aisle over the past few months are a visceral reminder that consumers and healthcare professionals have scrambled to get adequate supplies of these products. | Additionally, the news that Abbott Labs (NYSE: ABT) has been given emergency use authorization for a COVID-19 test that costs $5 and delivers a result in 15 minutes is likely having some impact, too. What happened Shares of Pacific Ethanol (NASDAQ: PEIX) rocketed higher when the market opened on Aug. 27, surging more than 24% in the first half hour of trading. Now what The idea here is that the Fed's actions will keep interest rates low, which is great for consumers and businesses but not great for bond investors. | Additionally, the news that Abbott Labs (NYSE: ABT) has been given emergency use authorization for a COVID-19 test that costs $5 and delivers a result in 15 minutes is likely having some impact, too. 10 stocks we like better than Pacific Ethanol 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 Pacific Ethanol wasn't one of them! | Additionally, the news that Abbott Labs (NYSE: ABT) has been given emergency use authorization for a COVID-19 test that costs $5 and delivers a result in 15 minutes is likely having some impact, too. For Pacific Ethanol, that's the huge growth in demand for high-quality alcohol for cleaning and sanitation supplies. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Pacific Ethanol wasn't one of them! | 70b2db2a-765c-48a4-a773-ca77d3dbd5bf |
32498.0 | 2020-08-27 00:00:00 UTC | Why Overstock.com Sank 12% Today | ABT | https://www.nasdaq.com/articles/why-overstock.com-sank-12-today-2020-08-27 | nan | nan | What happened
The share price of online retailer Overstock.com (NASDAQ: OSTK) dropped 17% earlier today, before closing down just over 12%. And the reason may have nothing directly to do with the retail sector.
So what
Overstock.com is one of the companies that has benefited from the impacts of the coronavirus pandemic. Americans who have been stuck at home have been spending money to spruce up and improve their living spaces. Like Home Depot (NYSE: HD), Lowe's (NYSE: LOW), and Target (NYSE: TGT), Overstock.com has seen sales jump during the stay-at-home phase of the pandemic.
Image source: Getty Images.
In its second-quarter report for the period ending June 30, the company reported sales more than double those of the prior-year period. But today's news that Abbott Laboratories (NYSE: ABT) received emergency use authorization for its rapid COVID-19 test has investors taking profits and buying the "reopen" stocks like airlines and cruise operators instead.
Now what
Overstock CEO Jonathan Johnson commented after the second-quarter earnings release, "Importantly, our customers are buying our core products -- home furnishings -- from the safety of their homes as part of the country's new normal."
But investors have already benefited from that surge in business. Even with today's drop, shares are up more than 1,200% in 2020. That's the kind of gain that has some investors wanting to take profits when there is any news of a potential shift in consumer behavior.
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Howard Smith owns shares of Home Depot. The Motley Fool owns shares of and recommends Home Depot. The Motley Fool recommends Lowe's and recommends the following options: long January 2021 $120 calls on Home Depot and short January 2021 $210 calls on Home Depot. 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. | But today's news that Abbott Laboratories (NYSE: ABT) received emergency use authorization for its rapid COVID-19 test has investors taking profits and buying the "reopen" stocks like airlines and cruise operators instead. What happened The share price of online retailer Overstock.com (NASDAQ: OSTK) dropped 17% earlier today, before closing down just over 12%. That's the kind of gain that has some investors wanting to take profits when there is any news of a potential shift in consumer behavior. | But today's news that Abbott Laboratories (NYSE: ABT) received emergency use authorization for its rapid COVID-19 test has investors taking profits and buying the "reopen" stocks like airlines and cruise operators instead. Like Home Depot (NYSE: HD), Lowe's (NYSE: LOW), and Target (NYSE: TGT), Overstock.com has seen sales jump during the stay-at-home phase of the pandemic. The Motley Fool owns shares of and recommends Home Depot. | But today's news that Abbott Laboratories (NYSE: ABT) received emergency use authorization for its rapid COVID-19 test has investors taking profits and buying the "reopen" stocks like airlines and cruise operators instead. See the 10 stocks *Stock Advisor returns as of August 1, 2020 Howard Smith owns shares of Home Depot. The Motley Fool recommends Lowe's and recommends the following options: long January 2021 $120 calls on Home Depot and short January 2021 $210 calls on Home Depot. | But today's news that Abbott Laboratories (NYSE: ABT) received emergency use authorization for its rapid COVID-19 test has investors taking profits and buying the "reopen" stocks like airlines and cruise operators instead. That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of August 1, 2020 Howard Smith owns shares of Home Depot. | 4729e654-a706-43ce-9d0b-2dfc98e3a7fe |
32499.0 | 2020-08-27 00:00:00 UTC | Nasdaq Falls 40; Fulgent, Fluidigm Collapse on COVID-19 Competition | ABT | https://www.nasdaq.com/articles/nasdaq-falls-40-fulgent-fluidigm-collapse-on-covid-19-competition-2020-08-27 | nan | nan | The Nasdaq Composite (NASDAQINDEX: ^IXIC) has been the standout winner in the U.S. stock market so far in 2020, but it can't keep up the pace every single day. With market participants paying close attention to the Federal Reserve's latest pronouncement on how it intends to manage monetary policy, the blue chip stocks in the Dow Jones Industrials found themselves in the ascendancy on Thursday. After trying to eke out a small gain, the Nasdaq got stuck in the red by the end of the day.
The COVID-19 pandemic has been a source of great difficulty throughout the business world, but it's also given some companies an opportunity to show what they can do to solve medical problems. Both Fulgent Genetics (NASDAQ: FLGT) and Fluidigm (NASDAQ: FLDM) have enjoyed huge gains this year because of their roles in helping to evaluate coronavirus patients. However, both companies fell sharply today in the face of new competition.
Failing the test
Both stocks were sharply lower on Thursday. Fluidigm's losses amounted to 27%, while Fulgent took a 28% hit.
Image source: Getty Images.
The source of the bad news for both companies was Abbott Laboratories (NYSE: ABT). The healthcare giant unveiled a new mass-market test for COVID-19, boasting its low $5 cost and its quick 15-minute results. That upped the ante for the standard of care for testing, and it'll require both Fluidigm and Fulgent to show that their own test products can make the grade.
A quick reversal for Fluidigm
The decline in Fluidigm shares comes just a day after the stock soared on its own news. Early Wednesday, Fluidigm found out that its saliva-based COVID-19 test had received emergency use authorization from the FDA. Investors and patients alike were ecstatic about an acceptable test that would avoid the uncomfortable nasal swabs that have become infamous among those tested.
That sent the share price up 30% Wednesday. After Thursday's drop, Fluidigm's share price is right back where it was trading on Monday before the flurry of news.
Yet even before Abbott's news, some had been nervous about competition for Fluidigm. A diagnostic test from the Yale School of Public Health came with a $10 price and got FDA emergency use authorization of its own. Other healthcare stocks have also been exploring testing alternatives.
Threatening Fulgent's growth
Meanwhile, the news had even more immediate implications for Fulgent. The company has seen its revenue soar because of the demand for COVID-19 tests, and in its most recent quarterly report, Fulgent set a high bar for its expectations of rising testing volume.
At this point, there's more than enough demand for COVID-19 testing to leave room for just about everyone in the industry. It'll take time for Abbott to ramp up availability of its test, and in the meantime, health professionals won't hesitate to use whatever capacity Fulgent, Fluidigm, and others can provide.
In the long run, though, there will probably be winners and losers. Early reports indicate that the federal government has already agreed to spend $750 million to purchase 150 million of Abbott's rapid tests. It won't necessarily take orders of that size to move the needle at much smaller companies like Fulgent and Fluidigm. However, some of the gains in those stocks have come from taking commanding market share. With complete dominance likely off the table, investors will have to take more realistic views on how Fulgent and Fluidigm can grow from here.
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Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Fulgent Genetics, Inc. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The source of the bad news for both companies was Abbott Laboratories (NYSE: ABT). The Nasdaq Composite (NASDAQINDEX: ^IXIC) has been the standout winner in the U.S. stock market so far in 2020, but it can't keep up the pace every single day. With market participants paying close attention to the Federal Reserve's latest pronouncement on how it intends to manage monetary policy, the blue chip stocks in the Dow Jones Industrials found themselves in the ascendancy on Thursday. | The source of the bad news for both companies was Abbott Laboratories (NYSE: ABT). Both Fulgent Genetics (NASDAQ: FLGT) and Fluidigm (NASDAQ: FLDM) have enjoyed huge gains this year because of their roles in helping to evaluate coronavirus patients. Early Wednesday, Fluidigm found out that its saliva-based COVID-19 test had received emergency use authorization from the FDA. | The source of the bad news for both companies was Abbott Laboratories (NYSE: ABT). That upped the ante for the standard of care for testing, and it'll require both Fluidigm and Fulgent to show that their own test products can make the grade. A quick reversal for Fluidigm The decline in Fluidigm shares comes just a day after the stock soared on its own news. | The source of the bad news for both companies was Abbott Laboratories (NYSE: ABT). That sent the share price up 30% Wednesday. Yet even before Abbott's news, some had been nervous about competition for Fluidigm. | 6549be8f-c1b0-46a6-adfa-bc323bde2bae |
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