Month: March 2018

After a blockbuster start to 2018, Wall Street has been caught in a vicious circle of trading over the past two months as volatility and uncertainty have taken the center stage. While a combination of factors like solid earnings, upbeat economic data and new tax legislation have fueled the rally, inflation fears, protectionist and anti-trade Trump policies, Washington turmoil and faster-than-expected rates hike continue to weigh on stock returns. Below we discuss some of the events that dominated the headlines in 1Q and influenced the market: Technology Boom & Bust The technology sector has experienced huge swings in the first quarter. […]

Per a Reuters article, Wells Fargo & Company ’s WFC plea to fully dismiss a lawsuit which accused it of practicing discriminatory mortgage lending practices was dismissed by the U.S. District Judge Gary Feinerman. […]

On Mar 27, we issued an updated research report on Accuray Inc. ARAY . While this Zacks Rank #3 (Hold) is focused on acquisitions and partnerships, stiff competition is a major concern […]

According to a Bloomberg report, Bank of America Corporation BAC will have to defend itself against the lawsuit filed by the Federal Deposit Insurance, accusing the bank of underpaying insurance premiums. The FDIC claims that BofA owes $542 million for deposit insurance. Yesterday, in a court ruling, BofA made a request for the dismissal of the lawsuit, which was probably denied by the judge […]

On Mar 27, we issued an updated research report on Thermo Fisher Scientific Inc. TMO . […]

DexCom, Inc. DXCM recently announced that the FDA has granted a de novo approval for the marketing of the new Dexcom G6 CGM monitoring system to check blood sugar levels in children and adults without pricking fingers for diabetes management. […]

Raytheon Company RTN recently won a delivery order for H-60 spare parts. Work related to the deal is scheduled to be over by Aug 31, 2020. Valued at $84.7 million, the contract was awarded by the Defense Logistics Agency Aviation, Philadelphia, PA. […]

Tyson Foods, Inc. TSN , which has been trying all means to increase focus on protein-rich products, revealed that it is looking for potential buyers for its pizza crust business, TNT Crust. The idea behind this planned divestiture is to focus more on the company’s key growth area — protein-packed offerings. […]

General Electric Company ’s GE shares gained more than 5% in intraday trading yesterday, recording its biggest one-day gain since April 2015, before closing at $13.44 for a 4.3% jump. This followed a dismal trading session on Monday when the shares plummeted to $12.86 — the lowest since July 2009. […]

Companhia de Saneamento Básico do Estado de São Paulo – SABESP SBS yesterday reported its financial results for the fourth quarter and full year 2018. Results were disappointing, with net income declining 35.3% year over year to R$612.6 million ($188.5 million) in the quarter. Earnings per share were R$0.90, down from the year-ago tally of R$1.39 […]

BorgWarner Inc. BWA introduced its Electro-Mechanical On-Demand (EMOD) transfer case in the advanced Ram 1500 pickup truck. Built on the company’s Torque-On-Demand clutching system, the new transfer case offers swift response and advanced torque on both on- and off-road performances. […]

Shares of Marathon Petroleum Corporation MPC have scaled a new 52-week high of $74.92 in yesterday’s trading session, before eventually closing at $72.88, generating a healthy year-to-date rate of more than 10%. The stock displays impressive price movement both in absolute and relative terms. […]

The Boeing Company BA recently won a $34.4-million modification contract for providing F/A-18A-F and EA-18G aircraft’s integrated product support and equipment engineering services. The services will be rendered to the Navy and the governments of Australia, Finland, Kuwait, Malaysia, Switzerland, Canada, and Spain. Details of the Deal Per the contract, Boeing will offer product support management, design interfacing, sustaining engineering, supply support, maintenance planning and provisioning, technical data updates, support equipment engineering as well as training and software integration services […]

It seems like Walmart Inc. WMT is adding a fresh leaf to its growth story every day in a bid to bolster business and enrich consumers’ shopping experience to stay firm amid the intense retail competition. […]

NVIDIA NVDA shares fell almost 8% to close at $225.52 on Mar 27, after the chip-maker announced that it suspended all self-driving car tests across the globe. The announcement follows last week’s Uber crash that killed a woman in Arizona. […]

Universal Forest Products, Inc. UFPI yesterday announced that one of its subsidiaries will acquire majority assets of Marietta, GA-based North American Container Corporation. Financial consideration of the buyout has not been disclosed. […]

Omnicom Health Group, a division of Omnicom Group Inc. OMC , announced that it has inked a definitive agreement to acquire Elsevier's Pharma Communications business, which is part of the RELX Group, RELX PLC RELX , for an undisclosed amount. The acquired business has been a leading healthcare communications business in Japan for 38 years. […]

Bristol-Myers Squibb Company BMY has announced that its supplemental Biologics License Application (sBLA) for its PD-1 immune checkpoint inhibitor, Opdivo (nivolumab), in combination with Yervoy (ipilimumab) has been accepted by the FDA under priority review. The company seeks an approval for label expansion of the combination therapy for addressing patients, previously treated with microsatellite instability-high (MSI-H) or mismatch repair deficient (dMMR) metastatic colorectal cancer (mCRC). A response from the regulatory body is awaited on Jul 10, 2018 […]