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.
Top 5 Long Term Companies To Invest In Right Now: Express Scripts Holding Company(ESRX)
Express Scripts Holding Company operates as a pharmacy benefit management (PBM) company in the United States, Canada, and Europe. The company operates through two segments, PBM and Other Business Operations. The companys PBM segments products and services include clinical solutions to enhance health outcomes; specialized pharmacy care; home delivery pharmacy; specialty pharmacy, including the distribution of fertility pharmaceuticals that require special handling or packaging; and retail network pharmacy administration. It also provides benefit design consultation; drug utilization review; drug formulary management; an array of Medicare, Medicaid, and health insurance marketplace; administration of a group purchasing organization; and consumer health and drug information services. In addition, the company distributes specialty pharmaceuticals and medical supplies to providers, clinics, and hospitals; and offers consulting services, including design, implementation, and project management for pharmaceutical, biotechnology, and device manufacturers to collect scientific evidence to guide the use of medicines. It serves managed care organizations, health insurers, third-party administrators, employers, union-sponsored benefit plans, workers compensation plans, government health programs, providers, clinics, hospitals, and others. As of December 31, 2015, the company operated four automated dispensing home delivery pharmacies; one non-automated dispensing home delivery pharmacy; and one non-dispensing home delivery pharmacy maintained for business continuity purpose, as well as several non-dispensing order processing centers, patient contact centers, specialty drug pharmacies, and fertility pharmacies. The company was formerly known as Aristotle Holding, Inc. and changed its name to Express Scripts Holding Company in April 2012. Express Scripts Holding Company was founded in 1986 and is headqua rtered in St. Louis, Missouri.
- [By Monica Gerson]
Wall Street expects Express Scripts Holding Company (NASDAQ: ESRX) to post its quarterly earnings at $1.22 per share on revenue of $25.20 billion. Express Scripts shares rose 0.30 percent to close at $73.55 on Friday.
Top 5 Long Term Companies To Invest In Right Now: Aon Corporation(AON)
Aon Corporation provides risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing services primarily in the United States, the Americas, the United Kingdom, Europe, the Middle East, Africa, and the Asia Pacific. The company?s Risk Solutions segment offers retail brokerage products and services, including affinity products, general underwriting management services, placement services, and captive management services; and advisory services to technology, financial services, agribusiness, aviation, construction, health care, and energy industries, as well as facilitates various risk management solutions for property liability, general liability, professional liability, directors’ and officers’ liability, workers’ compensation, and various healthcare products. This segment also provides risk consulting services comprising captive management; eSolutions products that enable clients to manage risks, policies, claims, and safet y concerns through an integrated technology platform; reinsurance brokerage services, such as actuarial, enterprise risk management, catastrophe management, and rating agency advisory services; property and casualty reinsurance; and specialty lines, which include professional liability, medical malpractice, accident, life, and health, as well as capital management transaction and advisory services. Its HR Solutions segment offers human capital services in the areas of health and benefits, retirement, compensation, and strategic human capital; and benefits administration and human resource business process outsourcing services. The company was founded in 1919 and is headquartered in Chicago, Illinois.
- [By Javier Hasse]
In other news, Aon plc Class A Ordinary Shares (UK) (NYSE: AON) boosted its quarterly dividend from $0.30 per share to $0.33 per share, and McGraw Hill Financial Inc (NYSE: MHFI) said it would sell its unit J.D. Power to investment firm XIO Group for $1.1 billion.
- [By Reuters]
Wendy Maeda/The Boston Globe via Getty Images NEW YORK — Walgreen is moving 120,000 employees to a private health insurance exchange from coverage provided directly from carriers, the company will announce Wednesday. The pharmacy chain will join 17 other large employers on the Aon Hewitt Corporate Health Exchange as part of a growing movement to offer employees fixed dollar amounts to purchase their own plans on such exchanges. The end-cost to employees depends on the plan chosen, but they typically get more options than under traditional arrangements. Private exchanges mimic the coverage mandated as part of the Affordable Care Act. Enrollment in the public exchanges starts Oct. 1. “What happens to employer contributions over time? Will they put in as much as they put in the past? These are unanswered questions but potential negatives,” says Paul Fronstin, a senior research associate with the Employee Benefit Research Institute. The benefit to Walgreen and other employers is unknown at this point, as their cost-savings aren’t clear. Of the 180,000 Walgreen (WAG) employees eligible for health care insurance, 120,000 opted for coverage for themselves and 40,000 family members. Another 60,000 employees, many of them working part-time, weren’t eligible for health insurance. Aon Hewitt (AON) says other participants in its program include retailer Sears Holding (SHLD) and Darden Restaurants (DRI). These new additions raise enrollment to 330,000 from 100,000 last year, and Aon Hewitt estimates enrollment will jump to 600,000 next year, a fivefold increase from 2012. By 2017, nearly 20 percent of employees nationwide could get their health insurance through a private exchange, according to Accenture Research (ACN). A recent report by the National Business Group on Health said that 30 percent of large employers are considering moving active employees to exchanges by 2015. Other major providers of private exchanges include Mercer, a division of Marsh & Mc
Best Consumer Service Companies To Buy For 2016: Golar LNG Partners LP(GMLP)
Golar LNG Partners LP, incorporated on October 24, 2007, owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers.
The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo. Its FSRU vessels have a total capacity of approximately 846,000 cubic meters. The Company’s LNG carriers include Golar Mazo, Methane Princess, Golar Grand and Golar Maria. Its LNG carriers have a total capacity of over 564,400 cubic meters.
The Company competes with Hoegh LNG, Excelerate, BW Gas, Mitsui OSK Lines, Royal Dutch Shell, BP, Malaysian International Shipping Company, National Gas Shipping Company and Qatar Gas Transport Company.
- [By Roberto Pedone]
Golar LNG Partners LP (GMLP), a limited partnership, owns and operates floating storage and regasification units and LNG carriers under long-term charters. This stock closed up 3.5% at $32.74 in Monday’s trading session.
Monday’s Volume: 432,000
Three-Month Average Volume: 81,559
Volume % Change: 283%
From a technical perspective, GMLP bounced notably higher here right off its 200-day moving average of $31.79 and back above its 50-day moving average of $32.56 with strong upside volume. This move is quickly pushing shares of GMLP within range of triggering a near-term breakout trade. That trade will hit if GMLP manages to take out Monday’s intraday high at $32.96 to some more near-term overhead resistance at $33.15 with high volume.
Traders should now look for long-biased trades in GMLP as long as it’s trending above its 200-day at $31.79 and then once it sustains a move or close above those breakout levels with volume that’s near or above 81,559 shares. If that breakout hits soon, then GMLP will set up to re-test or possibly take out its next major overhead resistance levels at $34.78 to its 52-week high at $36.
Top 5 Long Term Companies To Invest In Right Now: Vera Bradley Inc.(VRA)
Vera Bradley, Inc., through its subsidiary, Vera Bradley Designs, Inc., engages in the design, production, marketing, and retail of functional accessories for women under the ?Vera Bradley? brand. Its products include a range of handbags, accessories, and travel and leisure items. The company sells its products to independent retailers located in the United States, as well as to national retailers and third party e-commerce sites. As of January 29, 2011, Vera Bradley, Inc. sold its products directly through 35 full-price stores, 4 outlet stores, verabradley.com, and an annual outlet sale in Fort Wayne, Indiana. The company was founded in 1982 and is headquartered in Fort Wayne, Indiana.
- [By Monica Gerson]
Wall Street expects Vera Bradley, Inc. (NASDAQ: VRA) to report its quarterly earnings at $0.05 per share on revenue of $106.75 million. Vera Bradley shares declined 0.65 percent to close at $15.32 on Tuesday.
- [By Monica Gerson]
Vera Bradley, Inc. (NASDAQ: VRA) is expected to report its quarterly earnings at $0.05 per share on revenue of $106.75 million.
Box Inc (NYSE: BOX) is estimated to post a quarterly loss at $0.24 per share on revenue of $88.65 million.
Top 5 Long Term Companies To Invest In Right Now: Progress Software Corporation(PRGS)
Progress Software Corporation provides software solutions for various industries worldwide. Its OpenEdge segment offers Progress OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and mobile devices, as well as cloud; and Progress Corticon, a business rules management system that enables applications with decision automation and change process, and decision-related insight capabilities. The companys Data Connectivity and Integration segment provides Progress DataDirect Connect software, which offers data connectivity using industry-standard interfaces to connect applications running on various platforms; and Progress DataDirect Cloud, a software-as-a-service (SaaS) based connection management service that simplifies SQL access to a spectrum of cloud-based data sources through a single standards-based interface. Its Application Development and Deployment s egment offers Telerik Dev Tools, a design, quality assurance, debugging, and reporting suite; Telerik Dev Cloud, a cloud-based application design, deployment, hosting, and testing suite; Telerik Platform, an end-to-end application lifecycle solution; Telerik ALM, an application lifecycle management suite for testing Web, mobile, and desktop applications; Telerik Sitefinity, a Web content management and customer analytics platform; Progress Rollbase, a software that allows the creation of SaaS business applications; and Modulus Node.js and MongoDB cloud platforms that helps in the development of business and consumer applications. The company also provides project management, implementation, custom development, programming, and other services, as well as services to Web-enable applications; and training services. It sells its products directly to end-users, as well as indirectly to application partners, original equipment manufacturers, and system integrators. The company was founded in 1981 and is headquartered in Bedford, Massachuse! tts.
- [By Monica Gerson]
Some of the stocks that may grab investor focus today are:
Wall Street expects ConAgra Foods Inc (NYSE: CAG) to report its quarterly earnings at $0.52 per share on revenue of $2.89 billion. ConAgra shares rose 0.17 percent to $47.68 in after-hours trading. Analysts expect Darden Restaurants, Inc. (NYSE: DRI) to report its quarterly earnings at $1.08 per share on revenue of $1.81 billion. Darden Restaurants shares gained 0.44 percent to $66.25 in after-hours trading. Progress Software Corporation (NASDAQ: PRGS) reported better-than-expected results for its second quarter on Wednesday. Progress Software shares surged 6.19 percent to $26.75 in the after-hours trading session.
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