Month: November 2016

Share prices of generic drugmakers tumbled yesterday following a Bloomberg article that the Department of Justice (DoJ) could file price collusion charges against these companies by year end. According to the article, the DoJ investigation started a couple of years back and covers more than 12 companies and about 24 drugs. A grand jury is examining whether some of the executives colluded with each other to raise prices. […]

The earnings season is well into the later stage of the reporting cycle with over 364 S&P 500 companies having already reported results as of Nov 2. The Q3 numbers of the hitherto declared companies in the benchmark index reveal that earnings are up 1.6% year over year on 1.6% growth in revenues, with 72.3% coming ahead of EPS estimates and 54.7% beating revenue expectations. […]

New York-based International Flavors & Fragrances Inc. IFF recently announced that it has agreed to acquire the privately-held fragrance company, Fragrance Resources. Financial terms of the deal were not disclosed. […]

Penumbra, Inc. PEN , that went public in Sep 2015, reported third-quarter 2016 loss per share of 4 cents, way narrower than the Zacks Consensus Estimate of a loss of 11 cents. Revenues in Details Revenues in the reported quarter surged 33.3% year over year (up 32.5% at constant exchange rate or CER) to $67.2 million, steering past the Zacks Consensus Estimate of $63 million […]

Leading Canadian telecom operator BCE Inc. BCE reported mixed financial results in the third quarter of 2016. While the top line missed the Zacks Consensus Estimate, the bottom line surpassed the same […]

The major part of the Q3 earnings season is over, with 364 S&P 500 members (as of Nov 2) – accounting for 72.6% of the index’s total market capitalization – having already reported results, according to the latest Earnings Outlook . Total earnings for these index members were up 1.6% from the year-ago quarter and revenues were up 1.6% year over year. The beat ratio was 72.3% for earnings and 54.7% for revenues […]

A couple of chemical companies are lined up to report their quarterly results on Nov 7. As per the Zacks Industry classification, the chemical industry is grouped under the broader Basic Materials sector. Based on the earnings scorecard as of Nov 2, 75% of the sector participants on the S&P 500 index have already reported their quarterly numbers. […]

The third-quarter 2016 earnings season nears the last lap, with numbers from the majority of the sectors already on board. However, we are yet to see a large chunk of earnings results from the Retail and Consumer Discretionary sectors. So far, nearly 364 S&P 500 members or 72.6% of the index’s total membership, have come up with third-quarter results […]