Stocks finished ever so slightly lower today as the election looms, the Federal Reserve geared up for its November meeting beginning tomorrow, and earning season continued apace.
The S&P 500 declined 0.01% to
2,126.15 today, while the Dow Jones Industrial Average declined 18.77 points, or 0.1%, to 18,142.42. The Nasdaq Composite finished off 0.02% at 5,189.13.
If it was just earnings, we probably wouldn’t be stuck in this rut. Deutsche Bank’s David Bianco and team, for one, contend that the so-called earnings recession appears to be ending:
Macro conditions were challenging in 3Q, US and globally, especially for capital goods demand and related manufacturing. Commodity prices were weak, non-res construction flat, very slow trade, soft and promotional retailing, stable but paralyzed global markets. Despite this backdrop, 3rd qtr S&P EPS appears likely to rise 2-3% y/y, thus exiting the profit recession and likely the best S&P EPS growth ex. Energy in a year at ~6%. The drivers of this improvement are not cyclical sectors like Industrials or Con Disc, but rather Financials, encouraging acceleration at Tech (ex AAPL) and continued superior high single-digit growth at Health Care. These 3 sectors are 50%+ of S&P EPS.
Best Health Care Stocks For 2019: Helios and Matheson Analytics Inc(HMNY)
- [By Lisa Levin] Gainers
McDermott International, Inc. (NYSE: MDR) rose 19 percent to $7.20 in pre-market trading. Subsea 7 S.A. confirmed a $7.00 per share proposal to acquire McDermott.
Clarus Corporation (NASDAQ: CLAR) rose 18.5 percent to $8.00 in pre-market trading.
Enbridge Inc. (NYSE: ENB) rose 9.3 percent to $34.09 in pre-market trading after falling 2.41 percent on Friday.
Lannett Company, Inc. (NYSE: LCI) rose 8.4 percent to $18 in pre-market trading. Lannett named Maureen M. Cavanaugh as senior vice president and chief commercial operations officer.
Navios Maritime Midstream Partners L.P. (NYSE: NAP) rose 7.1 percent to $4.55 in pre-market trading after gaining 11.26 percent on Friday.
Corcept Therapeutics Incorporated (NASDAQ: CORT) rose 6.9 percent to $18.80 in pre-market trading after falling 3.19 percent on Friday.
Helios and Matheson Analytics Inc. (NASDAQ: HMNY) rose 5.7 percent to $2.40 in pre-market trading after falling 10.98 percent on Friday.
Vectren Corporation (NYSE: VVC) shares rose 5.6 percent to $69.20 in pre-market trading. CenterPoint Energy, Inc. (NYSE: CNP) announced plans to acquire Vectren for $72 per share in cash
Genprex, Inc. (NASDAQ: GNPX) shares rose 5.2 percent to $4.50 in pre-market trading.
Atossa Genetics Inc. (NASDAQ: ATOS) rose 5.1 percent to $3.70 in pre-market trading after declining 19.35 percent on Friday.
Sangamo Therapeutics, Inc. (NASDAQ: SGMO) shares rose 5 percent to $20 in pre-market trading.
Magellan Midstream Partners, L.P. (NYSE: MMP) shares rose 5 percent to $68.41 in pre-market trading.
Halozyme Therapeutics, Inc. (NASDAQ: HALO) shares rose 4.9 percent to $19.78 in the pre-market trading session.
Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.
- [By Rich Smith]
For the past several weeks, MoviePass owner Helios and Matheson Analytics (NASDAQ:HMNY) has issued press releases describing the health of its business — mostly in terms other than dollars and cents. Some of the news has been good. Some of the news…hasn’t.
- [By Paul Ausick]
Helios and Matheson Analytics Inc. (NASDAQ: HMNY) traded down about 9.7% Monday to post a new 52-week low of $0.28 after closing Friday at $0.31. The stock’s 52-week high is $38.86. Volume was about 10% below the daily average of around 17.6 million shares. The owner of MoviePass continues on a path to self-immolation.
Best Health Care Stocks For 2019: PDC Energy, Inc.(PDCE)
- [By Ethan Ryder]
PDC Energy Inc (NASDAQ:PDCE) EVP Lance Lauck sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $49.09, for a total transaction of $49,090.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
- [By Matthew DiLallo]
Shares of PDC Energy Inc. (NASDAQ:PDCE) lost 15.2% of their value in August, due in part to the oil and gas company’s disappointing second-quarter report.
- [By Matthew DiLallo]
In addition to supporting the growth of its parent, Noble Midstream will also assist third-party producers. One of the drivers is a partnership it formed with a private-equity-backed midstream company last year to buy the Black Diamond Gathering system in the DJ Basin. That system initially supported the production of six customers, including PDC Energy (NASDAQ:PDCE). However, the partners have gone on to expand their relationship with PDC Energy as well as recently adding a new customer into the fold, which has enhanced the system’s growth prospects.
- [By Ethan Ryder]
PDC Energy (NASDAQ:PDCE) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
Best Health Care Stocks For 2019: Flowserve Corporation(FLS)
- [By Joseph Griffin]
Press coverage about Flowserve (NYSE:FLS) has trended somewhat positive on Saturday, according to Accern. The research group identifies positive and negative news coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Flowserve earned a media sentiment score of 0.08 on Accern’s scale. Accern also assigned media coverage about the industrial products company an impact score of 46.7836910204953 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
- [By Lisa Levin]
Companies Reporting After The Bell
NVIDIA Corporation (NASDAQ: NVDA) is estimated to post quarterly earnings at $1.45 per share on revenue of $2.89 billion.
News Corporation (NASDAQ: NWSA) is projected to post quarterly earnings at $0.07 per share on revenue of $1.99 billion.
Symantec Corporation (NASDAQ: SYMC) is estimated to post quarterly earnings at $0.39 per share on revenue of $1.19 billion.
Pilgrim's Pride Corporation (NASDAQ: PPC) is projected to post quarterly earnings at $0.54 per share on revenue of $2.65 billion.
Hawaiian Electric Industries, Inc. (NYSE: HE) is expected to post quarterly earnings at $0.38 per share on revenue of $556.81 million.
Air Lease Corporation (NYSE: AL) is estimated to post quarterly earnings at $1.01 per share on revenue of $383.37 million.
Flowserve Corporation (NYSE: FLS) is expected to post quarterly earnings at $0.27 per share on revenue of $880.89 million.
Civitas Solutions, Inc. (NYSE: CIVI) is projected to post quarterly earnings at $0.12 per share on revenue of $396.25 million.
The Trade Desk, Inc. (NASDAQ: TTD) is estimated to post quarterly earnings at $0.1 per share on revenue of $73.23 million.
Amdocs Limited (NYSE: DOX) is projected to post quarterly earnings at $0.95 per share on revenue of $980.50 million.
Yelp Inc. (NYSE: YELP) is estimated to post quarterly loss at $0.04 per share on revenue of $220.14 million.
Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) is expected to post quarterly earnings at $0.43 per share on revenue of $210.01 million.
TiVo Corporation (NASDAQ: TIVO) is projected to post quarterly earnings at $0.37 per share on revenue of $198.62 million.
Ritchie Bros. Auctioneers Incorporated (NYSE: RBA) is expected to post quarterly earnings at $0.17 per share on revenue of $153.87 million.
Uniti Group Inc. (NASDAQ: UNIT) is estimated to post quarterly earnings at $0.01 per share on revenue of $247.16 million.
Jagged Peak En
- [By Ethan Ryder]
Get a free copy of the Zacks research report on Flowserve (FLS)
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- [By Logan Wallace]
Seaport Global Securities restated their hold rating on shares of Flowserve (NYSE:FLS) in a report released on Monday morning. They currently have a $47.00 target price on the industrial products company’s stock. Seaport Global Securities also issued estimates for Flowserve’s Q4 2018 earnings at $0.57 EPS, FY2018 earnings at $1.70 EPS, Q2 2019 earnings at $0.53 EPS and FY2019 earnings at $2.08 EPS.