After the company reported first-quarter results, shares of NovoCure (NASDAQ:NVCR), a medical device company focused on cancer, jumped as much as 10% in afternoon trading on Thursday. Shares closed the day up more than 9%.
Here’s an overview of the key takeaways from the first-quarter report:
Revenue jumped 49% to $52.1 million. That was behind the $56.7 million that Wall Street had expected. Net loss was $20.7 million, or $0.23 per share. That was worse than the $0.13 net loss that analysts had expected. Cash balance at quarter-end was $216 million.
Normally, you’d expect that a high-flying stock like Novocure would plunge after the company reported slower-than-expected growth. However, Wall Street greeted this report with optimism for a few reasons:
The number of prescriptions received during the period jumped 41%, which shows that demand for Optune remains strong. The National Comprehensive Cancer Network (NCCN) recently updated its guidelines to include tumor treating fields as a category 1 form of treatment for newly diagnosed brain cancer. This update should help drive increased demand for Optune, especially among doctors who are still skeptical about the technology. In Japan, 30 prescriptions were received during the quarter, and 20 patients were on Optune at quarter-end. Since Japan is one of the biggest medical device markets in the world, this should be a great new growth avenue for the company. Management announced on its conference call with investors that the company will seek approval from the Food and Drug Administration for Optune in mesothelioma before the end of the year. This marks the first indication outside of the brain for which Novocure will pursue regulatory approval.
In other words, investors have plenty of reasons to believe that Novocure is primed for fast growth for the foreseeable future.
Top 5 Tech Stocks To Own Right Now: Leidos Holdings, Inc.(LDOS)
- [By Lisa Levin]
Here is the list of stocks going ex-dividend on Friday.
Douglas Dynamics Inc (NYSE: PLOW) – $0.2350 dividend, 2.9183 percent yield
Tiffany & Co. (NYSE: TIF) – $0.4500 dividend, 2.6758 percent yield
PulteGroup, Inc. (NYSE: PHM) – $0.0900 dividend, 1.7078 percent yield
Leidos Holdings, Inc. (NYSE: LDOS) – $0.3200 dividend, 3.0851 percent yield
Tupperware Brands Corporation (NYSE: TUP) – $0.6800 dividend, 4.1756 percent yield
Hudson Pacific Properties Inc (NYSE: HPP) – $0.2000 dividend, 2.36
- [By Ben Levisohn]
Where we are concerned: 1. Ex-Joint Strike Fighter portfolio is average. There are few major growth differentiators after F-35; and actually headwinds in Aeronautics specifically, including C-5 and F-16. 2. Consensus EPS and cash flow estimate headwinds. The final Leidos Holdings (LDOS)-Lockheed Martin numbers are likely dilutive to 2016, so guidance will come down. The $1.5bn 2018 cash pension contribution means lower 2018 free cash and a weaker 5-year cash trajectory than peers. 3. Valuation tough. Lockheed Martin trades at 24X CY17E P/E ex pension. While we shy away from valuation concerns at the trough of the Defense cycle, this is more expensive than other Defense stocks.
Top 5 Tech Stocks To Own Right Now: Axcelis Technologies Inc.(ACLS)
- [By Anders Bylund]
Shares of Axcelis Technologies (NASDAQ:ACLS) gained 21.7% in March 2017, according to data from S&P Global Market Intelligence.
The maker of manufacturing equipment for semiconductor factories is largely following the medium-term trajectory of the industry-tracking PHLX Semiconductor index. Being a small-cap player in that large sector, Axcelis saw its share prices falling in early March only to whipsaw back to a strong gain on heavy trading volume.
- [By Chris Dier-Scalise]
"We have three stocks that we have identified, Excelis Technologies Inc (NASDAQ: ACLS), Cohu, Inc. (NASDAQ: COHU), and Entegris Inc (NASDAQ: ENTG). All of these companies spiked up on their recent positive earnings surprises and they’ve now pulled back to the point that we think they‘re attractive"
- [By ]
3. Axcelis Technologies (Nasdaq: ACLS)
It is the technical price pattern that first caught my eye with this $800 million market cap small cap. Shares dropped to a $22.00 low in mid-February but have since been slowly and steadily moving higher toward resistance at both the 50- and 200-day SMAs. In and of itself, this is not enough impetus to get long. However, when combined with the fundamental picture, a compelling long thesis emerges.
Top 5 Tech Stocks To Own Right Now: SK TELECOM ADR EACH REP 1/9 KRW500(CIT)
- [By Ben Levisohn]
We will admit that these latter assumptions are somewhat arbitrary, but nevertheless we cannot help escape the view that in 2017 everything will likely be at least a little adverse to prior expectations. On average our estimate reductions are 8%, and range from 3% at CIT Group (CIT) to 13% at Goldman Sachs. With that, we are lowering our PT of Bank of America,Citigroup andGoldman Sachs from $20, $70 and $243 to $18, $63 and $214, respectively…
- [By Lisa Abramowicz]
There was this maturity wall that people were terrified of, said Neil Wessan, the group head of New York-based CIT Group Inc. (CIT)s capital markets unit. Thats been spread out over a much broader period of time.
Top 5 Tech Stocks To Own Right Now: Plantronics Inc.(PLT)
- [By Lisa Levin]
Shares of Plantronics Inc (NYSE: PLT) were down 25 percent to $33.36. Plantronics reported better-than-expected third-quarter earnings, but the company’s revenue missed analysts’ expectations. The company announced a new 1 million share buyback plan and issued a weak earnings forecast for the fourth quarter.
- [By Joseph Griffin]
TRADEMARK VIOLATION NOTICE: “Brian S. Dexheimer Sells 500 Shares of Plantronics (PLT) Stock” was originally posted by Ticker Report and is the sole property of of Ticker Report. If you are reading this piece on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The original version of this piece can be accessed at https://www.tickerreport.com/banking-finance/3355123/brian-s-dexheimer-sells-500-shares-of-plantronics-plt-stock.html.
Top 5 Tech Stocks To Own Right Now: Cognizant Technology Solutions Corporation(CTSH)
- [By Garrett Baldwin]
Oil prices are at levels we haven’t seen in years. U.S. crude topped $70 for the first since 2014, as U.S. President Donald Trump appeared increasingly likely to pull out of the Iran nuclear deal and reinforce sanctions on Tehran. In addition, OPEC has announced plans to bolster prices and cap production. For oil investors, Money MorningGlobal Energy Strategist Dr. Kent Moors says it’s time to buckle up. According to Moors, revoking the Iran deal would cause “price chaos” around the globe. And that’s right as driving season starts in the United States. Here’s more on the coming chaos for oil. In deal news, Blackstone Group (NYSE: BX) announced it will purchase Gramercy Property Trust (NYSE: GPT) for $7.6 billion in cash. Grammercy manages commercial real estate. While this may seem like a boring deal, Blackstone is buying a business that churns out cold hard cash for its investors. We want to keep this deal on your radar, because there are many other deals like this coming down the pipeline. We’re going to be discussing one of the best real estate opportunities available very soon – so keep an eye out for updates.
Three Stocks to Watch Today: AMZN, AAPL, TSN, SBUX
Shareholders of Amazon.com Inc. (Nasdaq: AMZN) cheered statements made by Warren Buffett over the weekend. The Oracle of Omaha said he messed up by not investing in Amazon and Alphabet Inc. (Nasdaq: GOOGL). “I made the wrong decisions on Google and Amazon,” Buffett said on Saturday. “We’ve looked at it. I made the mistake in not being able to come to a conclusion where I really felt that at the present prices that the prospects were far better than the prices indicated.” Buffett says he now has a “very, very, very high opinion” of Amazon CEO Jeff Bezos. The Oracle believes that Bezos has created something that is “close to a miracle.” Apple Inc. (Nasdaq: AAPL) added another 0.6% Monday, to reach $185.00 per share – a new 52-week high. The uptick came after Warren Buffett announced
- [By Shane Hupp]
Mackay Shields LLC acquired a new stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 220,500 shares of the information technology service provider’s stock, valued at approximately $17,750,000.
- [By Lisa Levin]
Benzinga's newsdesk monitors options activity to notice unusual patterns. These large volume (and often out of the money) trades were initially published intraday in Benzinga Professional . These trades were placed during Thursday's regular session.
- [By Dan Caplinger]
Cognizant Technology Solutions (NASDAQ:CTSH) has been a key player in the technology revolution over the past 25 years. By providing much-needed information technology consulting services, Cognizant has been able to succeed in helping clients join the digital age effectively and competitively. Even with some of its rivals having competitive advantages in the form of lower labor costs, Cognizant nevertheless has found ways to keep expanding and growing its footprint.
- [By Paul Ausick]
Cognizant Technology Solutions Corp. (NASDAQ: CTSH) dropped more than 17% on Friday to post a new 52-week low of $45.44 after closing at $55.00 on Thursday. The stock’s 52-week high is $69.80. Volume was more than 10 times the daily average of around 4.2 million shares. The company’s president has been replaced as an investigation into possible corruption charges begins.
- [By Lisa Levin] Companies Reporting Before The Bell
Tyson Foods, Inc. (NYSE: TSN) is projected to report quarterly earnings at $1.32 per share on revenue of $9.89 billion.
Sysco Corporation (NYSE: SYY) is estimated to report quarterly earnings at $0.64 per share on revenue of $14.34 billion.
Louisiana-Pacific Corporation (NYSE: LPX) is expected to report quarterly earnings at $0.67 per share on revenue of $692.63 million.
Cognizant Technology Solutions Corporation (NASDAQ: CTSH) is estimated to report quarterly earnings at $1.06 per share on revenue of 3.90 billion.
Manchester United plc (NYSE: MANU) is estimated to report quarterly loss at $1.35 per share on revenue of $193.67 million.
Sempra Energy (NYSE: SRE) is expected to report quarterly earnings at $1.66 per share on revenue of $3.24 billion.
Willis Towers Watson Public Limited Company (NYSE: WLTW) is projected to report quarterly earnings at $3.01 per share on revenue of $2.23 billion.
Green Plains Inc. (NASDAQ: GPRE) is estimated to report quarterly loss at $0.28 per share on revenue of $922.42 million.
TravelCenters of America LLC (NASDAQ: TA) is projected to report quarterly loss at $0.16 per share on revenue of $1.59 billion.
Gannett Co., Inc. (NYSE: GCI) is expected to report quarterly earnings at $0.03 per share on revenue of $723.93 million.
Welbilt, Inc. (NYSE: WBT) is estimated to report quarterly earnings at $0.11 per share on revenue of $329.71 million.
Horizon Pharma Public Limited Company (NASDAQ: HZNP) is projected to report quarterly earnings at $0.07 per share on revenue of $234.17 million.