Leerink Partners Would Buy CVS Health (CVS) on Current Weakness

Margin Pressures Could Weigh on CVS Health (CVS) Shares; Oppenheimer Cuts Price Target to $115

November 2, 2015 11:16 AM EST

Oppenheimer maintained an Outperform rating on CVS Health (NYSE: CVS), and cut the price target to $115.00 (from $122.00), following the company's 3Q earnings results. CVS reported 3Q revenue of $38.6B vs. consensus $37.9B. Adj. EPS was $1.29, in line with consensus $1.29. Analyst Mohan Naidu believes that the margin outlook and lack of clarity on organic growth in... More

Pre-Open Stock Movers 10/30: (CRAY) (YRCW) (LNKD) Higher; (AAN) (CTRL) (SCTY) Lower (more...)

October 30, 2015 9:33 AM EDT

VirtualScopics (NASDAQ: VSCP) 50.8% HIGHER; reported Q3 EPS of ($0.02), versus ($0.33) reported last year. Revenue for the quarter came in at $3.22 million, versus $2.74 million reported last year.

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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

CVS 2016 profit forecast hurt by healthcare plans, Target deal

October 30, 2015 6:57 AM EDT

By Sruthi Ramakrishnan

(Reuters) - CVS Health Corp (NYSE: CVS) gave a disappointing profit forecast for 2016, hurt by costs related to the acquisition of Target Corp's pharmacies and as its own pharmacy benefits management (PBM) business expands in low-margin Medicare and Medicaid plans.

The drugstore operator's profit missed analysts' estimates for the first time in six quarters, as its $10-billion Omnicare acquisition failed to offset pressure from lower reimbursement rates and new low-margin generic drugs.

CVS shares were down 4.6 percent at $98.98 in heavy trading on Friday, among the... More

CVS Health (CVS) Reports In-Line Q3 EPS; Issues Light FY16 EPS Outlook

October 30, 2015 6:52 AM EDT

CVS Health (NYSE: CVS) reported Q3 EPS of $1.29, in-line with the analyst estimate of $1.29. Revenue for the quarter came in at $38.5 billion versus the consensus estimate of $37.81 billion.

Same store sales for the retail drugstores increased 1.7% versus the third quarter of last year, with pharmacy same store sales up 4.6% and pharmacy same store prescription volumes up 4.4% on a 30-day equivalent basis. Pharmacy same store sales were negatively... More

Valeant says Philidor pharmacy shutting down as it cuts ties

October 30, 2015 5:42 AM EDT

By Caroline Humer and Svea Herbst-Bayliss

(Reuters) - Valeant Pharmaceuticals International Inc (NYSE: VRX)(NYSE: VRX), seeking to allay investor concerns about its business practices, said Friday it is cutting ties with a specialty pharmacy called Philidor Rx Services accused of helping it inflate revenue.

The news failed to stem Valeant's sliding share price, which lost another 12 percent on Friday even after Bill Ackman, whose hedge fund owns a 6.3 percent stake in Valeant, told investors the shares were "tremendously undervalued."

Valeant said it... More

After-Hours Stock Movers 10/29: (CRAY) (COLM) (LNKD) Higher; (SCTY) (CTRL) (VRX) Lower (more...)

October 29, 2015 6:04 PM EDT

Cray (NASDAQ: CRAY) 22.1% HIGHER; reported Q3 EPS of $0.48, $0.42 better than the analyst estimate of $0.06. Revenue for the quarter came in at $191.4 million versus the consensus estimate of $140.95 million.

SolarCity (NASDAQ: SCTY) 19% LOWER; reported Q3 EPS of ($2.41), $0.46 worse than the analyst estimate of ($1.95). Revenue for the quarter came in at $113.86 million versus the consensus estimate of $111.43 million.

inContact (NASDAQ: SAAS) 15.5% HIGHER; reported Q3 EPS of ($0.09), $0.02 better than the analyst... More

Market Wrap: GDP Inches Higher in Q3; Pending Sales Stall in Sept.; PBMs Severe Ties with Philidor

October 29, 2015 5:28 PM EDT

Market wrap for October 29th

End of the Day: S&P 500 down 0.9 to 2,089.41; Dow Jones down 23.7 to 17,755.80; Nasdaq down 21.4 to 5,074.27

Market Brief: Markets pared some gains from Wednesday following FOMC commentary yesterday and data today showing U.S. GDP growth in Q3, but not at the pace expected.

Pending home sales showed a surprise drop for September.

Valeant shares fell in late trading as CVS Health cut off its relationship with Philidor.

Allergan and Pfizer announced that they were in... More

Valeant Pharma (VRX) Plunges as Philidor Practices Questioned, PBMs Cut Ties

October 29, 2015 5:19 PM EDT

After staging an impressive recovery off last week's lows, Valeant Pharma (NYSE: VRX) is back in the cross-hairs and testing $100 again as two major PBMs dropped specialty pharmacy Philidor, which has deep and questionable links to Valeant.

Today both CVS Health (NYSE:... More

CVS Health (CVS) Comments on Philidor Relationship (VRX)

October 29, 2015 4:00 PM EDT

CVS Health (NYSE: CVS) issued the following statement to StreetInsider.com on its relationship with Philidor, which has seen its relationship with Valeant Pharma (NYSE: VRX) come under intense scrutiny over the past few weeks:

CVS/caremark... More

Valeant Pharma (VRX) Drops to Session Lows; CVS Health (CVS) Cuts Off Pharmacy Used by Valeant - DJ

October 29, 2015 3:39 PM EDT

(Updated - October 29, 2015 3:43 PM EDT)

(Updated - October 29, 2015 3:40 PM EDT)

Valeant Pharma (NYSE: VRX) declined Thursday after Dow Jones said CVS Health (NYSE: CVS) terminated Philidor from its Caremark PBM network. The move is based on... 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

Wall St. slips on tech results, chances of Fed hike

October 29, 2015 7:22 AM EDT

By Lewis Krauskopf

(Reuters) - U.S. stocks ended slightly lower on Thursday as the market digested disappointing tech earnings reports and the potential for an interest rate hike in December.

The Federal Reserve, which kept rates unchanged at its policy meeting that ended Wednesday, downplayed concerns about global growth and indicated confidence in the U.S. job market's recovery.

Stocks had jumped on Wednesday following the Fed statement and, after a strong run from the end of September, were due for a "reprieve," said Jason Ware, chief investment officer at Albion Financial, in Salt Lake... More

Senators call for scrutiny of Walgreens-Rite Aid deal

October 28, 2015 7:13 AM EDT

By Sruthi Ramakrishnan and Diane Bartz

(Reuters) - Two influential U.S. senators called for close scrutiny of Walgreens Boots Alliance Inc's (NASDAQ: WBA) plan to buy Rite Aid Corp (NYSE: RAD) for $9.4 billion, a deal that would unite two of the three biggest U.S. drugstore chains.

Walgreens Chief Executive Stefano Pessina said the company had analyzed the antitrust aspect of the deal but would not speculate on the number of drugstores it might need to divest in order to win regulatory approval.

... More