US utility stocks (XLU)(VPU) have rallied nearly 12% year-to-date, only marginally underperforming broader markets.
On August 29, 2017, the FDA approved The Medicines Company’s (MDCO) Vabomere for treating adulating patients suffering with complicated urinary tract infections.
On August 28, 2017, The Medicines Company (MDCO) announced positive data from its Phase 2 trial, ORION-1, evaluating the efficacy of PCSK9 synthesis inhibitor inclisiran.
According to a Monte Carlo simulation performed at Harvard, it’s estimated that 5.0 million patients in the United States stand to benefit from PCSK9 inhibitor therapy.
In 2Q17, The Medicines Company (MDCO) reported a net loss from continuing operations of $397.3 million, which was a significant fall from $181.8 million in 2Q16.
In 2Q17, The Medicines Company (MDCO) reported revenues of $18.7 million, which is a fall of 66.0% on a YoY (year-over-year) basis.
The 3Q17 earnings season for steel investors will start this week with Steel Dynamics’ earnings release on October 18, followed by Nucor’s results on October 19.
Kobe Steel has been engulfed in a crisis after the company admitted that it had falsified data related to some of its products.
On October 10, reports surfaced that Commercial Metals (CMC) was looking to buy rebar mills and some rebar fabrication operations from Gerdau.
US steel stocks have had a tepid year after the spectacular rally last year, and there’s a sense of apprehension in the market that US steel prices could go lower.
Walmart (WMT) stock rose 9.6% last week after the company reaffirmed its fiscal 2018 earnings guidance. It still expects the EPS to be $4.30–$4.40.
On October 10, 2017, Deutsche Bank raised the target price for Walmart (WMT) stock to $84 from $81 with a “hold” rating.
Harley-Davidson (HOG) will announce its fiscal 3Q17 results on October 17, 2017. Analysts expect the company’s earnings to fall 37.5% to $0.39 per share.
On October 6, CNBC reported that Amazon plans to sell prescription drugs online. Walgreens stock fell 7.7%, while CVS stock fell 5.6% last week.
The third quarter earnings season has picked up the pace. The S&P 500 Index finished the week ending October 13 with slight growth of 0.15%.
In the first half of 2017, Neurocine Biosciences (NBIX) generated revenues of $6.3 billion and reported expenses on the cost of product sales of $61.0 million.
The distribution cut might have shocked Genesis Energy’s (GEL) investors, but it shouldn’t have come as a surprise. Investors should have seen it coming.
Genesis Energy (GEL), the Texas-based midstream MLP, shocked its investors with a distribution cut announcement on October 12, 2017.
Southern Company (SO) stock has risen 4% YTD (year-to-date). It significantly underperformed broader utilities.
Axalta expects its 3Q17 adjusted EBITDA to be $205 million–$215 million. For fiscal 2017, the adjusted EBITDA is expected to be $870 million–$900 million.