The technicians love the biotech sector–and the iShares Nasdaq Biotechnology ETF (IBB)–today. Earlier today, we discussed Cornerstone Macro’s Carter Worth, who predicts big upside for the health-care sector generally, and some biotech stocks specifically, Regeneron Pharmaceuticals (REGN) and Amgen (AMGN) among them. Now, the folks at Bespoke Investment Group have published their own now–Biotech Breakout?–about the sector. They write:
Kris Tripplaar/Sipa USA
Were seeing some key short-term technical levels get tested in biotech…[The] iShares Nasdaq Biotechnology ETF (market-cap weighted) and theSPDR S&P Biotech ETF (XBI) (equal-weighted) biotech ETFs…have been consolidating basically sideways for the last few months and are now building momentum with multiple closes above their 50-DMAs.
Hot Electric Utility Stocks To Invest In Right Now: Coach, Inc.(COH)
Coach, Inc. provides luxury accessories and lifestyle collections in the United States. The company offers handbags, rings, charms, small leather goods, and novelty accessories for women; and business cases, computer bags, messenger-style bags, totes, wallets, card cases, belts, and time management and electronic accessories for men. It also provides footwear products; seasonal lifestyle apparel collections, including outerwear, ready-to-wear, and cold weather accessories, such as gloves, scarves, and hats; jewelries comprising bracelets, necklaces, rings, and earrings made with sterling silver, leather, and non-precious metals; sunglasses; watches; and fragrances consisting of eau de perfume sprays, eau de toilette sprays, purse sprays, and body lotions. In addition, the company offers weekend and travel accessories, travel bags, and other lifestyle products. Further, it holds licensing rights to market and distribute footwea r, eyewear, watches, and fragrances under the Coach brand name. The company markets its products to consumers through a network of company-operated stores comprising Internet in North America; and Coach-operated stores and concession shop-in-shops in Japan, Mainland China, Hong Kong, Macau, Singapore, Taiwan, Malaysia, South Korea, the United Kingdom, France, Ireland, Spain, Portugal, Germany, Italy, Belgium, and the Netherlands. It also sells its products to wholesale customers and distributors in approximately 45 countries. As of June 27, 2015, the company operated 258 Coach retail and 204 Coach outlet leased stores located in North America; 503 Coach-operated concession shop-in-shops within department, retail, and outlet stores internationally; and 54 Stuart Weitzman stores. Coach, Inc. was founded in 1941 and is based in New York, New York.
- [By Ben Levisohn]
We explained why Coach (COH) fell despite beating earnings forecasts, and why American Airlines (AAL) was able to rise today even as United Continental (UAL) and Delta Air Lines (DAL) fell.
- [By Ben Levisohn]
But in the what-have-you-done-for-me-lately world of the stock market, that was the past, and the present and future, well they don’t look so hot. For the third quarter, the Vera Bradley, which competes against Coach (COH) and Michael Kors (KORS), among others, now expects sales between$128 million to $130 million, below forecasts for about $147 million, and a profit of 30 cents to 35 cents, below forecasts for a 48-cent profit. In 2014, Vera Bradley expects sales of$535 million to $540 million, below forecasts for $575, while its earnings should come in between$1.47 and $1.52, below expectations of $1.72.And did I mention that its margins are expected to decline too?
- [By Teresa Rivas]
Coach (COH) is climbing Tuesday, following its upbeat third-quarter report.
The handbag maker said it earned 44 cents a share on revenue of $1.03 billion. Analysts were looking for earnings of 41 cents on revenue of $1.02 billion.
The company also reiterated its full-year guidance, as it expects low-single-digit revenue growth.
Bulls include Cowen & Co.s Oliver Chen, who reiterated an Outperform rating and $46 price target on the stock:
For Coach brand, N. America sales were $499mm vs. Cowen’s $484mm & Street’s $481mm. Total Coach brand N. America comps were flat y/y vs. Cowen’s -1% in-line with Street. As expected , at POS, sales in N. America department stores declined at a -MSD rate vs. LY given the lack of clearance inventory, while net sales into department stores rose slightly. International sales were $448mm (+7% C/C) vs. Cowen’s $456mm & Street’s $452mm. China sales were -2% (+2% C/C) with +DD growth and positive comp store sales on the Mainland offset in part by continued weakness in Hong Kong & Macau. In Japan, sales rose +7% C/C, despite a decrease in square footage, while dollar sales rose +8%, reflecting the stronger yen. Sales for the remaining directly operated businesses in Asia posted solid growth in C/C but rose slightly in dollars, while Europe remained very strong, growing at a +DD pace driven by both comp store sales and distribution increases .
Wells Fargos Ike Boruchow reiterated an Outperform rating and raised his valuation range from $45 to $47, from $43 to $45:
With expectations creeping up into its Q3 print, COH delivered better North American (NA) comps (0% vs. Streets -1.5%) and EPS ($0.44 vs. Streets $0.41) which keeps the bull case firmly on the table as management continues to gain traction on its turnaround efforts. Digging deeper into the improving domestic performance, some key details coming out of th
Hot Electric Utility Stocks To Invest In Right Now: Imprivata, Inc.(IMPR)
Imprivata, Inc. provides information technology security and identity solutions to the healthcare industry in the United States, the United Kingdom, and internationally. Its security and identity platform provides authentication management, fast access to patient information, secure communication, and positive patient identification products to address critical security and compliance challenges faced by healthcare organizations. The company principally offers Imprivata OneSign, an integrated enterprise single sign-on, authentication management, and workflow automation platform that enables secure access and workflow optimization to workstations and applications. It also provides Imprivata Cortext, a cloud-supported secure communications platform that provides healthcare organizations and healthcare providers with secure SMS texting and messaging capabilities in compliance with applicable data privacy and security regulations. In addition, the company offers Imprivata Confirm ID that simplifies provider identity proofing, enables supervised enrollment, and enforces two factor authentication requirements, as well as integrates with electronic health record systems and offers multiple drug enforcement administration-approved two-factor authentication options for prescription signing. Further, it provides Imprivata PatientSecure, a software-based positive patient identification solution, which helps improve patient safety, revenue cycle efficiency, and patient experience by reducing duplicate medical records and overlays, as well as helps reduce the risk of identity theft and insurance fraud. Additionally, the company offers professional, customer support and education, and customer advocacy services. Imprivata, Inc. was incorporated in 2001 and is headquartered in Lexington, Massachusetts.
- [By Lisa Levin]
Shares of Imprivata Inc (NYSE: IMPR) got a boost, shooting up 31 percent to $19.01 as the company reached a definitive deal to be bought by an affiliate of Thoma Bravo, LLC, a private equity firm, for $544 million
Top 5 Shipping Stocks For 2016: Agenus Inc.(AGEN)
Agenus Inc., a biotechnology company, engages in developing and commercializing technologies to treat cancers and infectious diseases. It offers Oncophage vaccine for the treatment of adjuvant renal cell carcinoma. The company?s products under development include Prophage series of cancer vaccines, which has been tested in Phase III clinical trials for the treatment of renal cell carcinoma (RCC) and metastatic melanoma, as well as has been tested in Phase I and Phase II clinical trials in various indications; and under Phase II clinical trials in glioma, a type of brain cancer, and adjuvant renal cell carcinoma. The Prophage series of cancer vaccines include R-series candidates in RCC, M-series candidates in melanoma, and G-series candidates in glioma. Its product candidate portfolio includes QS-21 Stimulon adjuvant, which is in Phase III clinical trials for the treatment of non-small cell lung cancer, melanoma, malaria, and shingles, as well as in for the treatment of va rious infectious diseases and Alzheimer?s disease; and HerpV that completed Phase 1 clinical trial for the treatment of genital herpes. The company was formerly known as Antigenics Inc. and changed its name Agenus Inc. in January 2011 to reflect its existing product pipeline. Agenus Inc. was founded in 1994 and is headquartered in Lexington, Massachusetts.
- [By Lisa Levin]
Agenus (NASDAQ: AGEN) rose 22.99% to $3.37 after the company reported positive follow-on Phase 2 results for brain cancer vaccine.
Aeropostale (NYSE: ARO) shares jumped 18.23% to $10.18 after private equity firm Sycamore Partners bought a 7.96% stake in the company.
Hot Electric Utility Stocks To Invest In Right Now: BlackRock, Inc.(BLK)
BlackRock, Inc. is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors. It also manages accounts for corporate, public, union and industry pension plans, insurance companies, third-party mutual funds, endowments, foundations, charities, corporations, official institutions, and banks. The firm also provides global risk management and advisory services. It manages separate client-focused equity, fixed income, and balanced portfolios. The firm also launches and manages open-end and closed-end mutual funds, offshore funds, ETFs, unit trusts, and alternative investment vehicles including hedge funds and structured funds. It invests in the public equity, fixed income, real estate, and alternative markets across the globe. The firm primarily invests in growth, value, and core stocks of small-cap, mid-cap, SMID-cap, large-cap and multi-cap companies. It employs a fundamental and quantitative analysis with a bottom-up stock picking approach to make its investments. The firm employs liquidity, asset allocation, balanced, real estate, and alternative strategies to make its investments. In real estate sector, the firm seeks to invest in Poland and Germany. BlackRock, Inc. was founded in 1988 and is based in New York City with additional offices in Boston, Massachusetts, London, United Kingdom, Brazil, Philadelphia, Pennsylvania, Plainsboro, New Jersey, and San Francisco, California.
- [By Shauna O’Brien]
UBS announced on Wednesday that it has cut its rating on investment management firm BlackRock, Inc. (BLK).
The firm has downgraded BlackRock from “Buy” to “Neutral” due to expenses, which are putting pressure on margins. UBS also lowered its price target on BLK to $280, which suggests a 5% upside from the stock’s current price of $266.51.
BlackRock shares were down $2.51, or 0.94%, during pre-market trading Wednesday. The stock is up 29% YTD.
- [By Tom Aspray, Senior Editor, MoneyShow.com]
Some of the emerging market ETFs are already up 7%, so far, this month, as it seems like others are drawing the same conclusions. Robert Kapito, co-founder of BackRock, Inc. (BLK), which has assets of $3.9 trillion, said that “The emerging markets are going to account for about 60 to 65% of the world’s growth over the next 20 years.”