Gilead Sciences (GILD) is lower in after hours trading, after its first-quarter earnings came up short.
The company said it earned $3.03 a share on revenue of $7.79 billion.
Analysts were expecting earnings of $3.13 a share on revenue of $8.07 billion.
The companys guidance for the full year was also light. It said it expects revenue between $30 billion and $31 billion, while analysts are modeling for $31.7 billion.
Antiviral sales were down year over year in the U.S. and Europe.
In February, Gilead reported better-than-expected fourth-quarter earnings and revenue.
The shares closed down 3.7% to $97 in regular trading. The shares are off 3% this year.
The stock was down 4.1% to $93 at 4:05.
Last week Leerink argued that Gilead and its biotech peers would benefit from higher drug prices.
Top 5 Shipping Stocks To Invest In 2016: Gulfport Energy Corporation(GPOR)
Gulfport Energy Corporation engages in the exploration, development, and production of oil and natural gas properties. Its principal properties are located in the Louisiana Gulf Coast, in west Texas in the Permian Basin and in western Colorado in the Niobrara Formation. The company also holds acreage position in the Alberta oil sands in Canada; and interests in entities that operate in southeast Asia, including the Phu Horm gas field in Thailand, as well as leasehold interests in the Utica Shale in eastern Ohio. As of December 31, 2011, it had 19.4 million barrels of oil equivalent of proved reserves. The company is headquartered in Oklahoma City, Oklahoma.
- [By Ben Levisohn]
Wells Fargo’s David Tameron and team note that oil exploration & production stocks are “trading well ahead of historical levels” but they find some stocks–includingApache (APA), Anadarko Petroleum (APC), and Gulfport Energy (GPOR)–that still trade at attractive valuations. They explain:
Top 5 Shipping Stocks To Invest In 2016: Canon, Inc.(CAJ)
Canon Inc. (Canon), incorporated on August 10, 1937, is a manufacturer of office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and lithography equipment. Canon sells its products principally under the Canon brand name and through sales subsidiaries. The Company earns revenues primarily from the manufacture and sale of these products domestically and internationally. Canon has manufacturing subsidiaries in a variety of countries, including the United States, Germany, France, the Netherlands, Taiwan, China, Malaysia, Thailand, Vietnam and the Philippines. Canon operates its business in three segments: the Office Business Unit, the Imaging System Business Unit, and the Industry and Others Business Unit.
Office Business Unit
Canon manufactures, markets and services a range of MFDs, printers, copying machines for personal and office use and production print products for print professionals. The Off ice Business Unit includes MFDs, laser multifunction printers (MFPs), laser printers, digital production printing systems, feed printers, wide-format printers and document solutions. The Company also delivers added value to customers through software, services and solutions. Its offerings cover a range of markets from Small Office Home Office (SOHO), and Small and Midsize Business (SMB) to large enterprises and professional graphic arts. Canon has launched its A4-size color device imageRUNNER ADVANCE C350iF/C250iF. Canon has also launched imageRUNNER 2202/2002, which is a low-end A3-size monochrome device tailored to the emerging market.
In software, services and solutions, Canon’s application development platform, the Multifunctional Embedded Application Platform (MEAP), allows the creation of customized applications for Canon MFDs. Canon is engaged in reinforcing its solutions capability through offerings, such as imageWARE software suite, business process aut omation software Enterprise Imaging Platform (EIP) and Canon! MDS, which is a device management solution. Canons consolidated net sales, for the years ended December 31, 2014, were 55.8% for the Office Business Unit.
The Company competes with Xerox Corporation/Fuji Xerox Co., Ltd.; Ricoh Company, Ltd.; Konica Minolta Inc.; Hewlett-Packard Company; Samsung Electronics Co., Ltd., Toshiba TEC Corporation, Sharp Corporation and Lexmark International, Inc.
Imaging System Business Unit
Canon manufactures and markets digital cameras and digital video camcorders, as well as lenses and various related accessories. The Imaging System Business Unit includes interchangeable lens digital cameras, digital compact cameras, digital camcorders, digital cinema cameras, interchangeable lenses, inkjet printers, large-format inkjet printers, commercial photo printers, image scanners, multimedia projectors, broadcast equipment and calculators.
The Company has launched two new digital single-lens reflex camera (SLR) cameras. The Canon EOS 7D Mark II is designed to meet the demands of photographers and videographers who want a camera that can provide a range of artistic opportunities. It shoots up to 10 frames per second and has a 65-point all cross-type AF system. The number of available autofocus (AF) points, and whether single line or cross-type, varies depending on the lens. Canon also launched seven new lens products for digital SLR. The interchangeable lens lineup exceeds 90 products, including Cinema Lenses (EF-Mount).
The Company has introduced fourteen new models to the compact digital camera market across the world. Canon offers a range of products to meet needs based on its core technology Full-photolithography Inkjet Nozzle Engineering (FINE). For home use, Canon offers printer solutions as PIXMA Cloud Link and PIXMA Printing to tighten the connection with cloud computing, smartphone and tablet personal computers (PC). It also offers My Image Garden , enabling a range of photo-print, an Intelligent Touch Syst! em and XL! ink tank & ink cartridge.
Canon launched the brand MAXIFY in the business inkjet printer segment. In the professional printing market, the Company offers three professional photo inkjet printers: the PIXMA PRO-1 with a 12 LUCIA ink system of pigment-based inks, PIXMA PRO-10 with a 10 LUCIA ink system, and the PIXMA PRO-100 with eight dye inks to produce colorful and vivid prints. Canons large-format inkjet printers are based on FINE head technology and employ its image processor, L-COA, developed for LUCIA pigment inks. Canons lineup also includes CanoScan LiDE, the flatbed scanners which use Contact Image Sensor (CIS), and a scanner with Charge-Coupled Devices (CCD) for high resolution. Canons consolidated net sales, for the years ended December 31, 2014, were 36.0% for the Imaging System Business Unit.
The Company competes with Sony Corporation, Samsung Electronics Co., Ltd., Nikon Corporation; Panasonic Corporation; JVC Kenwood Corporat ion, Hewlett-Packard Company and Seiko Epson Corporation.
Industry and Others Business Unit
The Company’s Industry and Others Business Unit segment includes semiconductor lithography equipment, Flat panel display (FPD) lithography equipment, digital radiography systems, ophthalmic equipment, vacuum thin-film deposition equipment, organic light emitting diode (OLED) panel manufacturing equipment, die bonders, micromotors, network cameras, handy terminals and document scanners. Canons consolidated net sales for the years ended December 31, 2014, were 10.7% for the Industry and Others Business Unit.
The Company competes with Nikon Corporation and ASML Holding N.V.
- [By Dan Carroll]
Nikon’s story is similar to what’s plaguing its Japanese rival, Canon (NYSE: CAJ ) . Canon’s stock has nosedived by 20% year to date, but the stock’s recovered nearly 3% over the past month. Don’t let appearances fool you: The company slashed its full-year sales and profit forecasts back in July, as the worldwide camera market has slumped, and as smartphones continue to take over this aging niche. Canon’s route back to respectability looks like a treacherous climb.
- [By Paul R. La Monica]
Miscellaneous shorts. Lamensdorf is also betting against Japanese printer and camera giant Canon (CAJ) since he believes the company still hasn’t figured out a way to compete with smartphones.
Top New Companies To Own For 2016: 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
Top 5 Shipping Stocks To Invest In 2016: iShares MSCI Europe Financials Sector Index Fund(EUFN)
iShares MSCI Europe Financials ETF, formerly iShares MSCI Europe Financials Sector Index Fund (the Fund), is an exchange traded fund. The Fund seeks investment results that correspond generally to the price and yield performance of the MSCI Europe Financials Index (the Index). The Index is a free float-adjusted market capitalization weighted index designed to measure the combined equity market performance of the financials sector of developed market countries in Europe. Component securities include those of banks, diversified financial companies, insurance companies and real estate companies. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index. The Funds investment adviser is BlackRock Fund Advisors. Advisors’ Opinion:
- [By Wayne Duggan]
Investors looking to set up a pair trade to capitalize on the divergent paths of U.S. and European banks should consider going long the iShares Dow Jones US Financial (ETF) (NYSE: IYF) and short the Ishares MSCI Europe Fincls Sctr Indx Fd (NASDAQ: EUFN).
Top 5 Shipping Stocks To Invest In 2016: Myriad Genetics, Inc.(MYGN)
Myriad Genetics, Inc. (Myriad), incorporated on November 6, 1992, is a molecular diagnostic company. The Company is engaged in the discovery, development and marketing of transformative molecular diagnostic tests. The Company operates through two segments: diagnostics and other. The diagnostics segment provides testing and collaborative development of testing that is designed to assess an individual’s risk for developing disease later in life, identify a patient’s likelihood of responding to drug therapy and guide a patient’s dosing to enable optimal treatment, or assess a patient’s risk of disease progression and disease recurrence. The other segment provides testing products and services to the pharmaceutical, biotechnology and medical research industries, research and development, and clinical services for patients, and also includes corporate services, such as finance, human resources, legal and information technology. Myriad offers diagnostic tests for a range of dise ases, such as Myriad myRisk Hereditary Cancer test for hereditary breast cancer, hereditary ovarian cancer, hereditary pancreatic cancer, hereditary uterine (endometrial) cancer and hereditary colon cancer; Myriad myPlan Lung Cancer test for lung cancer; Myriad myPath Melanoma test for melanoma; Prolaris test for prostate cancer, and Vectra DA for rheumatoid arthritis (RA).
Molecular Diagnostic Testing
The Company’s molecular diagnostic tests are designed to analyze genes, their expression levels and corresponding proteins. Myriad’s primary molecular diagnostic tests include myRisk Hereditary Cancer, a deoxyribonucleic acid (DNA) sequencing test for assessing the risks for hereditary cancers, such as breast cancer, ovarian cancer, colon cancer, uterine cancer, melanoma, pancreatic cancer, prostate cancer and gastric cancer; BRACAnalysis, a DNA sequencing test for assessing the risk of developing breast and ovarian cancer; BART, a DNA sequencing test for hereditary breast and ovarian cancer; BRACAnalysis CDx ! , a DNA sequencing test for use as a companion diagnostic with the poly (ADP-ribose) polymerase (PARP) inhibitor LynparzaTM (olaparib); Tumor BRACAnalysis CDx, a DNA sequencing test designed to be utilized to predict response to DNA damaging agents, such as platinum-based chemotherapy agents and PARP inhibitors; COLARIS, a DNA sequencing test for assessing the risk of colorectal and uterine cancer; COLARIS AP, a DNA sequencing test for assessing the risk of colorectal cancer; Vectra DA, a protein detection test for assessing the disease activity of rheumatoid arthritis; Prolaris, a ribonucleic acid (RNA) expression test for assessing the aggressiveness of prostate cancer; EndoPredict, an RNA expression test for assessing the aggressiveness of breast cancer; myPath Melanoma, an RNA expression test for diagnosing melanoma, and myPlan Lung Cancer, an RNA expression test for assessing the aggressiveness of lung cancer.
Pharmaceutical and Clinical Services
The Company provides a range of pharmaceutical and clinical services. Through its subsidiary, Myriad RBM, Inc., Myriad provides biomarker discovery and pharmaceutical and clinical services to the pharmaceutical, biotechnology and medical research industries utilizing its multiplexed immunoassay technology. The Company also owns Privatklinik Dr. Robert Schindlbeck GmbH & Co. KG, located approximately 15 miles from the Company’s European laboratories in Munich, Germany. The Company’s technology enables it to screen sets of well-characterized clinical samples from both diseased and non-diseased populations against its menu of biomarkers.
- [By Ben Levisohn]
We took in Walt Disney (DIS) earnings, Argus’ downgrade of Noble (NE), and Myriad Genetics’ (MYGN) freefall.
We looked at the speculation that International Paper (IP) could be a takeover target, and the progress made at Ralph Lauren (RL), and the slowing same-store sales at Shake Shack (SHAK).