The Wall Street Journal reported that government regulators are pushing back against Anthem’s (ANTM) purchase of Cigna (CI). California, however, seems to have few issues with the proposed combination of Aetna (AET) andHumana (HUM). Leerink’s Ana Gupte explains:
The Department of Managed Care (DMHC) has been reported to have approved theAetna-Humana deal, according to a tweet from Chad Terhune of Kaiser Health News. While California is not a critical State for the deal given Humana’s small presence, it is another indication that the merger anti-trust review is on track with only four States remaining for approval. The news is also significant in light of the recent pushback Anthem is being reported to face from California’s Department of Insurance Commissioner David Jones. We would be looking to see if Anthem (OP) also receives approval for the Cigna (OP) deal from the DMHC which is an important catalyst given Anthem and Cigna have meaningful market share overlap in the state. We reiterate our 80+% probability of Aetna-Humana close and our OP rating onAetna and Humana.
Hot Trucking Stocks To Own For 2016: Energy XXI Ltd.(EXXI)
Energy XXI Ltd engages in the acquisition, exploration, development, and operation of oil and natural gas properties onshore in Louisiana and Texas, and on the Gulf of Mexico. As of June 30, 2015, the company had net proved reserves of 183.5 million barrels of oil equivalent. It operated or had an interest in 567 gross producing wells on 388,199 net developed acres, including interests in 52 producing fields. The company was founded in 2005 and is based in Houston, Texas.
- [By Lisa Levin]
Shares of Energy XXI Ltd (NASDAQ: EXXI) were down 72 percent to $0.181 after the company announced that it and some of its subsidiaries have entered into a Restructuring Support Agreement (RSA) with holders of more than 63 percent of its secured second lien 11.0 percent notes. Energy XXI added that in order to implement the terms of the RSA, it has commenced cases under Chapter 11 of the Bankruptcy Code.
Hot Trucking Stocks To Own For 2016: LCA-Vision Inc.(LCAV)
LCA-Vision Inc. provides fixed-site laser vision correction services through its LasikPlus vision centers. Its vision centers offer laser vision correction services for correcting nearsightedness, farsightedness, and astigmatism. As of December 31, 2011, the company operated 53 LasikPlus fixed-site laser vision correction centers located in metropolitan markets in the United States. LCA-Vision Inc. was founded in 1985 and is headquartered in Cincinnati, Ohio.
- [By Lisa Levin]
Medical Practitioners: This industry jumped 2.82% by 10:15 am. The top performer in this industry was LCA-Vision (NASDAQ: LCAV), which rose 2.9%. LCA-Vision’s trailing-twelve-month revenue is $91.12 million.
Top Logistics Companies To Watch In Right Now: Graham Corporation(GHM)
Graham Corporation, together with its subsidiaries, engages in the design, manufacture, and sale of heat transfer and vacuum equipment for the chemical, petrochemical, refining, energy, defense, and electric power generating industries worldwide. The company offers heat transfer equipment, including surface condensers, Heliflows, water heaters, and various types of heat exchangers; and vacuum equipment consisting of steam jet ejector vacuum systems and liquid ring vacuum pumps. It also services and sells spare parts for its equipment; and supplies components used inside reactor vessels and outside containment vessels of nuclear power facilities. The company sells its products directly, as well as through independent sales representatives. Graham Corporation was founded in 1936 and is headquartered in Batavia, New York.
- [By Monica Gerson]
Graham Corporation (NYSE: GHM) is expected to report its quarterly earnings at $0.12 per share on revenue of $23.54 million.
Heico Corp (NYSE: HEI) is estimated to post its quarterly earnings at $0.54 per share.
Hot Trucking Stocks To Own For 2016: Eagle Bulk Shipping Inc.(EGLE)
Eagle Bulk Shipping Inc. engages in the ocean transportation of bulk cargoes in the dry bulk industry. The company primarily transports iron ore, coal, grain, cement, and fertilizer along worldwide shipping routes. As of December 31, 2009, it owned and operated a fleet of 27 oceangoing vessels with a combined carrying capacity of 1,412,535 deadweight tons. The company was founded in 2005 and is headquartered in New York, New York.
- [By Lisa Levin]
Shares of Eagle Bulk Shipping Inc (NASDAQ: EGLE) were down 49 percent to $0.381. Eagle Bulk Shipping announced after Wednesday’s close it has reached an agreement with its lenders and holders of its equity to raise $105 million.
Hot Trucking Stocks To Own For 2016: Marvell Technology Group Ltd.(MRVL)
Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers mobile and wireless products comprising communications and applications processors; thin modems; and connectivity solutions, including Wi-Fi, Bluetooth, near field communication, and FM; and mobile computing products, as wain, Sweden, Switzerland, and Taiwan. Marvell Technology Group Ltd. was founded in 1995 aell as silicon solutions and Kinoma software. The company also provides a range of data storage products, such as hard disk drive and solid-state drive controllers. In addition, it offers networking products comprising Ethernet solutions; embedded communication processors; network processors; and Ethernet passive optical network and gigabit passive optical network products. Further, the company provides printer system-on-a-chip products, as well as custom printer ASICs; and smart home products that are designed to enable the next generation of connected consumer platforms, and to enhance the eco-friendly Connected Lifestyle throughout the home, incluidng platforms for set-top boxes, video dongles, and lighting and smart appliances. It operates in the United States, Canada, China, India, Israel, Italy, Japan, Malaysia, Singapore, South Korea, Spnd is headquartered in Hamilton, Bermuda.
- [By Shauna O’Brien]
On Tuesday, JP Morgan announced that it has raised its rating on Marvell Technology Group Ltd. (MRVL) .
The firm has upgraded MRVL from “Neutral” to “Overweight,” and has given the company a $16 price target. This price target suggests a 19% upside from the stock’s current price of $12.91.
Marvell Technology shares were up 37, or 2.94%, during Tuesday morning trading. The stock is up 78% YTD.
- [By Lisa Levin]
On Wednesday, technology shares climbed by 0.94 percent. Top gainers in the sector included Marvell Technology Group Ltd. (NASDAQ: MRVL) and Medidata Solutions Inc (NASDAQ: MDSO).
Hot Trucking Stocks To Own For 2016: Intuit Inc.(INTU)
Intuit Inc. provides business and financial management solutions for small businesses, consumers, and accounting professionals primarily in the United States, Canada, the United Kingdom, Australia, India, and Singapore. The companys Small Business segment provides QuickBooks financial and business management online services and desktop software; QuickBooks technical support services; financial supplies; and QuickBooks Accountant, QuickBooks Accountant Plus, and QuickBooks Online Accountant, as well as the QuickBooks ProAdvisor Program for the accounting professionals. This segment also offers small business payroll products and services, including online payroll offerings, such as Quickbooks Online Payroll and Intuit Online Payroll; desktop payroll offerings comprising QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; and full service payroll offerings, such as Intuit Full Service Payroll and QuickBooks Assisted Payr oll. In addition, it provides merchant services, including credit and debit card processing; Web-based transaction processing services for online merchants; online payment services; GoPayment mobile payment processing services; and QuickBooks point of sale solutions. Its Consumer segment provides TurboTax income tax preparation products and services; and electronic tax filing services. The companys Professional Tax segment offers Lacerte, ProSeries, ProFile, and Intuit Tax Online professional tax products and services; and electronic tax filing services, bank product transmission services, and training services. The company sells its products and services through various sales and distribution channels, including Websites, promotions, call centers, retail locations, and online mobile application stores, as well as through alliance partners, such as banks, credit unions, and other financial institutions. Intuit Inc. was founded in 1983 and is headquartered in Mountain View, California.
- [By Shauna O’Brien]
Morgan Stanley reported on Wednesday that it has downgraded financial management solution provider Intuit Inc. (INTU).
The firm has cut its rating on INTU to “Underweight,” and has given the company a $62 price target. This price target suggests a 6% decline from the stock’s current price of $66.30. This downgrade reflects the company’s slowing growth of its tax business.
Intuit shares were mostly flat during pre-market trading Wednesday. The stock is up 11% YTD.
- [By Alex Jordon]
A variety of acquisitions ramps up Oracle’s presence in cloud computing, like deals with RightNow, Taleo, and Eloqua. The annual run-rate of their cloud business is already over $1 billion, larger than Workday (WDAY) and SAP (SAP) combined. New customers include British Telecom (BT), BMC Software (BMC), Siemens (SI), Yahoo (YHOO), and Intuit (INTU).
- [By Monica Gerson]
Intuit Inc. (NASDAQ: INTU) reported upbeat results for its third quarter and raised its FY16 guidance. Intuit shares dropped 2.15 percent to $105.00 in the after-hours trading session.