AbbVie (ABBV) Reports Strong 3Q and Long term outlook; Cowen Reiterates Outperform

UBS Reiterates Buy on AbbVie (ABBV) Following Conference Call

November 2, 2015 9:58 AM EST

UBS reiterated a Buy rating and $78.00 price target on Abbvie (NYSE: ABBV) following the company's conference call. Management assumes no biosimiliars before 2022, and low mid-single digit annual price increases. On Humira biosimilar, management believes US biosimilars will likely infringe its dosing patents as they have to demonstrate efficacy at equal dosing.

Analyst... More

Stocks slip but post best month in four years

October 30, 2015 7:32 AM EDT

By Lewis Krauskopf

(Reuters) - U.S. stock indexes finished with their strongest monthly performances in four years on Friday, even as they dipped for the day amid a mixed bag of earnings reports.

For October, all three major indexes posted their biggest percentage increases since October 2011, with the S&P 500 rising 8.3 percent, led by energy and materials, while a measure of volatility fell.

On Friday, CVS Health (NYSE: CVS) fell 4.8 percent to $98.78 after a disappointing profit forecast for 2016.

The S&P 500 energy index was the best performing sector, rising... More

AbbVie (ABBV) Raises Quarterly Dividend 11.8% to $0.57; 4.2% Yield

October 30, 2015 6:57 AM EDT

AbbVie (NYSE: ABBV) declared a quarterly dividend of $0.57 per share, or $2.28 annualized. This is an 11.8% increase from the prior dividend of $0.51.

The dividend will be payable on February 16, 2016, to stockholders of record on January 15, 2016, with an ex-dividend date of January 13,... More

AbbVie (ABBV) Tops Q3 EPS by 7c; Guides FY15 EPS Above Views

October 30, 2015 6:56 AM EDT

AbbVie (NYSE: ABBV) reported Q3 EPS of $1.13, $0.07 better than the analyst estimate of $1.06. Revenue for the quarter came in at $4.94 billion versus the consensus estimate of $5.9 billion.

Third-quarter sales growth was driven by the continued strength of HUMIRA and other promoted... More

AbbVie (ABBV) Issues Long-Term Outlook; Boosts Qtr. Dividend

October 30, 2015 6:55 AM EDT

AbbVie (NYSE: ABBV) outlined the company's long-term strategic and financial objectives, including expectations for growth and other financial metrics over its long-range plan, through 2020.

"AbbVie is well-positioned to deliver strong top- and bottom-line performance through 2020 and beyond," said Richard A. Gonzalez, chairman and chief executive officer, AbbVie. "We have built a strong foundation, establishing growth platforms in some of the largest and most attractive market segments. And, we have a robust and compelling pipeline which will contribute significantly to our performance over our long-range-plan."

Based on continued strong performance from its existing... More

Global stocks slip, but post best month in four years; oil gains

October 29, 2015 8:39 PM EDT

By Rodrigo Campos and Herbert Lash

NEW YORK (Reuters) - Oil gained on Friday while stocks on Wall Street closed lower even as major U.S. and European stock indices posted their best month in at least four years, boosted in part by accommodative monetary policies in the euro zone and Japan.

Oil prices rose after the U.S. oil rig count fell for a ninth straight week, indicating potentially lower crude output in coming months in the face of a global supply glut.

The dollar slipped after data showing U.S. consumer spending in September... More

Trading Radar for 10/30: ExxonMobil (XOM), Seagate (STX), Newell Rubbermaid (NWL), Wayfair (W) Report

October 29, 2015 2:16 PM EDT

The Trading Radar highlights key earnings and economic announcements for the next trading session:

Before Markets Open:
Economics:
8:30am EDT

Personal Spending - Street sees 0.2%Personal Income - Street sees (0.1%)PCE Prices: Core - Street sees 0.1%Employment Cost Index - Street sees 0.5%

Earnings:

Aaron's (NYSE: AAN) - consensus EPS $0.48
AbbVie (NYSE: ABBV) - consensus EPS $1.06
ArcBest (Nasdaq: ARCB) - consensus EPS $0.82
BankFinancial (Nasdaq:... More