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WMB | Rapper Meek Mill to appeal sentence that drew activists ire | By David DeKok PHILADELPHIA Reuters Lawyers for Meek Mill on Tuesday asked a Pennsylvania appeals court to overturn a 2008 drugs and gun conviction that has kept the rapper on probation for a decade and made him a celebrity advocate for U S criminal justice reform Defense lawyers said the Philadelphia judge who has long overseen Meek Mill s case is no longer impartial and has become overly involved in his life once visiting a homeless shelter to check he was doing mandated community service Attorney Kim Watterson also said the sole witness against Meek Mill at his 2008 trial was a discredited drug squad officer who is no longer with the Philadelphia police force A city prosecutor agreed with Watterson supporting her request for a new trial and new judge for the artist known for hits like All Eyes on You and Going Bad There is more than a substantial record that this judge acted as prosecutor advocate cross examined witnesses and made herself a fact witness said Watterson calling for the recusal of judge Genece Brinkley Prosecutor Paul George arguing for the Philadelphia District Attorney s Office said it was standard practice to hold a new trial when an officer deemed a critical witness was subsequently deemed untrustworthy by a police force He urged the three judge panel to replace Brinkley The standard is to disqualify a judge when a significant majority of the community might question a judge s impartiality George said Meek Mill 32 whose legal name is Robert Williams NYSE WMB appeared in court wearing a dark suit and did not speak during the hearing The three judges made few comments but appeared favorable to both defense and prosecution positions Judge Jack Panella pointed out that there were other officers present at the time of Meek Mill s alleged drug offenses who could testify In November 2017 Brinkley sentenced the rapper to up to four years in prison saying a pair of arrests violated probation conditions she set following his 2008 convictions The arrests one for popping a wheelie while shooting a New York City music video did not result in convictions The hefty sentence became a cause celebre for musicians celebrities and criminal justice reform campaigners who said it was typical of a U S legal system that treats minorities unjustly
Meek Mill was jailed for five months before the state s top court granted him bail |
BMY | Zacks com Featured Highlights B G Foods J M Smucker Bristol Myers Squibb Pretium Resources And FTI Consulting | For Immediate Release
Chicago IL June 17 2016 Stocks in this week s article include B G Foods Inc J M Smucker Company Bristol Myers Squibb Company NYSE BMY Pretium Resources Inc and FTI Consulting Inc
Screen of the Week of Zacks Investment Research Combat Volatility with These 5 Low Beta Stocks
For investors looking to cut their portfolio risk low beat stocks are great A lower level of market exposure means that losses will be minimized in case of a downturn This is why an investor with a long term horizon prefers to invest in stocks carrying lower risks One of the most popular metrics used to measure such risk is beta
Understanding Beta
Beta indicates the volatility of a particular stock with respect to the market In other words beta measures the extent of stock price movement relative to the market we are considering S P 500 here
If a company has a beta of 1 it means that the volatility of the stock is the same as that of the S P 500 In the same way if the stock s beta is greater than 1 then it is more volatile compared to the market Conversely a beta below 1 signifies less volatility
Now if a portfolio s beta is 3 it is three times more volatile than the market Hence if the market is projected to give 20 return the portfolio will then definitely contribute 60 return which is amazing
However the opposite case also holds true If the market slips 20 then the portfolio return plummets 60 which is surely a matter of concern The Winning Strategy
In our screening criteria we included beta in the range of 0 to 0 6 for short listing low risk stocks But this can t be the only criterion for betting on stocks The other parameters that need to be added to create a winning portfolio are Percentage Change in Price in the Last 4 Weeks greater than zero This ensures that the stocks saw positive price movement over the last one month Average 20 Day Volume greater than 50 000 A substantial trading volume ensures that the stocks are easily tradable Price greater than or equal to 5 They must all be trading at a minimum of 5 or higher Zacks Rank equal to 1 Whether good market conditions or bad stocks with a Zacks Rank 1 Strong Buy have a proven history of success
Here are five of the 11 stocks that qualified the screening B G Foods Inc is involved in manufacturing and distributing frozen and shelf stable foods along with household products across U S Canada and Puerto Rico The company has surpassed the Zacks Consensus Estimate in three of the last four quarters with a positive average surprise of 5 67 For 2016 B G Foods earnings are projected to improve 38 8 year over year The J M Smucker Company is a leading marketer and manufacturer of consumer food and beverage products and pet food and pet snacks in North America J M Smucker has surpassed Zacks Consensus Estimate in all the last four quarters with an average earnings beat of 19 93 For the coming quarter the company s earnings are expected to grow 29 over the prior year quarter Bristol Myers Squibb Company is a global specialty biopharmaceutical company with focus on discovering developing and delivering innovative treatments for serious diseases It is to be noted that the company surpassed expectations in each the last four quarters with an average positive earnings surprise of 27 67 Bristol Myers projected earnings growth for this year is impressive at 29 5 year over year Pretium Resources Inc is involved in the exploitation and development of precious metal resources that include gold silver and copper deposits in the U S The company posted a positive average earnings surprise of 35 42 for the last four quarters FTI Consulting Inc provides specialized consulting services across 26 foreign countries with a total headcount of more than 4 200 employees In three of the last four quarters the company posted positive earnings surprises with an average beat of 30 96 Moreover the company s year over year projected earnings growth rate for 2016 is 27 7
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Past performance is no guarantee of future results Inherent in any investment is the potential for loss This material is being provided for informational purposes only and nothing herein constitutes investment legal accounting or tax advice or a recommendation to buy sell or hold a security No recommendation or advice is being given as to whether any investment is suitable for a particular investor It should not be assumed that any investments in securities companies sectors or markets identified and described were or will be profitable All information is current as of the date of herein and is subject to change without notice Any views or opinions expressed may not reflect those of the firm as a whole Zacks Investment Research does not engage in investment banking market making or asset management activities of any securities These returns are from hypothetical portfolios consisting of stocks with Zacks Rank 1 that were rebalanced monthly with zero transaction costs These are not the returns of actual portfolios of stocks The S P 500 is an unmanaged index Visit for information about the performance numbers displayed in this press release |
BMY | Medivation s MDVN Pidilizumab Positive In Phase I II Study | Medivation Inc NASDAQ MDVN announced preliminary data from a phase I II study on pidilizumab also referred as MDV9300 for the treatment of pediatric patients with diffuse intrinsic pontine glioma DIPG The study evaluated the safety and tolerability of pidilizumab as well as key outcomes such as event free and overall survival in the pediatric population suffering from DIPG In the study patients were treated with the candidate following the completion of standard radiation therapy Data from the study revealed that pidilizumab demonstrated potential clinical benefit and safety in DIPG pediatrics patients In addition the reported mean event free and overall survival estimates were 12 and 15 6 months respectively Results were presented at the International Symposium on Pediatric Neuro Oncology Meanwhile Medivation is still enrolling patients in the study According to the National Cancer Institute approximately 300 400 pediatric brain stem tumors are diagnosed every year in the U S out of which approximately 75 80 are DIPGs We note that in Dec 2014 Medivation in licensed exclusive worldwide rights to pidilizumab for all potential indications from CureTech Ltd As per the terms of the agreement Medivation is responsible for the development approval manufacturing and commercialization activities related to pidilizumab We remind investors that the company was evaluating MDV9300 in a phase II study for the treatment of patients with relapsed or refractory diffuse large B cell lymphoma which was put on clinical hold after the company announced that the mechanism of action of the candidate was not an inhibitor of PD 1 Although the FDA lifted its clinical hold later the company is planning to submit an amendment to its Investigational New Drug IND applications for MDV9300 to modify the production process to support its planned activities on the candidate It also intends to treat patients with MDV9300 manufactured in accordance to the amended IND Medivation currently carries a Zacks Rank 3 Hold Some better ranked stocks in the health care sector are Bristol Myers Squibb Company NYSE BMY ANI Pharmaceuticals Inc NASDAQ ANIP and Pfizer Inc NYSE PFE each sporting a Zacks Rank 1 Strong Buy |
BMY | Emergent EBS BioThrax SBLA Accepted For FDA Review | Emergent BioSolutions Inc NYSE EBS announced that its supplemental Biologics License Application sBLA for manufacturing BioThrax anthrax vaccine adsorbed in Building 55 has been accepted for review by the FDA The agency has provided a Prescription Drug User Fee Act PDUFA action date of Aug 15 2016 Notably Building 55 is located at the company s manufacturing facility in Lansing MI The company believes that Building 55 has the potential to expand BioThrax manufacturing capacity to an estimated 20 25 million doses a year In addition manufacturing BioThrax at Building 55 will enable the company to meet government s goal of stockpiling 75 million doses of a licensed anthrax vaccine The company said that the program is funded at 104 million by the Biomedical Advanced Research and Development Authority within the Office of the Assistant Secretary for Preparedness and Response under the U S Department of Health and Human Services We note that BioThrax is the only FDA licensed vaccine for anthrax In the U S it is indicated for the treatment of both pre exposure and post exposure prophylaxis of anthrax Last week the FDA granted Orphan Drug status to BioThrax for post exposure prophylaxis of anthrax resulting from exposure suspected or confirmed to bacillus anthracis thereby providing it seven years of marketing exclusivity through Nov 2022 We remind investors that the company has initiated a tax free spin off of its Biosciences business into a separate publicly traded company Aptevo Therapeutics Aptevo will focus on cancer and hematology treatments while Emergent BioSolutions will continue to operate as a specialty biopharmaceutical company The spin off is anticipated to close shortly Emergent BioSolutions currently carries a Zacks Rank 3 Hold Some better ranked stocks in the health care sector are Bristol Myers Squibb Company NYSE BMY ANI Pharmaceuticals Inc NASDAQ ANIP and Pfizer Inc NYSE PFE each sporting a Zacks Rank 1 Strong Buy |
BMY | Auris EARS Begins Phase III Study For Sudden Deafness | Auris Medical Holding AG NASDAQ EARS announced the commencement of patient enrollment in a second pivotal phase III study ASSENT on its pipeline candidate AM 111 for the treatment of idiopathic sudden sensorineural hearing loss ISSNHL which is also known as sudden deafness
The randomized double blind placebo controlled study is being conducted to evaluate the efficacy safety and tolerability of a single dose intratympanic administration of AM 111 in patients suffering from severe to profound ISSNHL within 72 hours from onset
We note that the first pivotal phase III study HEALOS on AM 111 is currently underway in several European and Asian countries In addition the company plans to conduct a phase II study REACH on the candidate for the treatment of surgery induced hearing loss in the U S
We are encouraged by the company s progress with AM 111 The candidate enjoys orphan drug status both in the U S and EU for the treatment of acute sensorineural hearing loss
The company also has another candidate Keyzilen in a couple of phase III studies TACTT2 and TACTT3 for the treatment of acute inner ear tinnitus While top line data from TACTT2 are expected in Aug 2016 TACTT3 top line results are expected in the fourth quarter of 2016
We note that both acute inner ear tinnitus and hearing loss are conditions that represent significantly unmet medical need Considering the lack of approved treatments targeting these conditions both Keyzilen and AM 111 could become the first treatment to be approved for these indications upon successful development and subsequent approval
Auris is a Zacks Rank 3 Hold stock Some better ranked stocks in the health care sector include ANI Pharmaceuticals Inc NASDAQ ANIP Retrophin Inc NASDAQ RTRX and Bristol Myers Squibb Company NYSE BMY All three stocks sport a Zacks Rank 1 Strong Buy |
BMY | Glaxo Innoviva s Closed Triple Combination Tops Phase III | GlaxoSmithKline plc NYSE GSK with its partner Innoviva Inc NASDAQ INVA announced positive top line data from the phase III FULFIL study on the closed triple combination therapy fluticasone furoate FF umeclidinium UMEC vilanterol VI for chronic obstructive pulmonary disease COPD The randomized double blind double dummy parallel group study evaluated the once daily FF UMEC VI 100mcg 62 5mcg 25mcg inhalation powder in comparison to twice daily Symbicort Turbohaler budesonide formoterol 400mcg 12mcg administered through the Turbohaler dry powder inhaler The study revealed superiority of the closed triple combination over Symbicort Turbohaler in improving lung function and health related quality of life in COPD patients Data also demonstrated statistically significant improvements compared to Symbicort Turbohaler thereby meeting the two co primary endpoints In addition the safety profile of the combination at 24 weeks as well as 52 week extension was consistent with the known profile of the individual medicines and their combinations Full results from the FULFIL study including data on the secondary endpoints and the 52 week extension study will be presented at a future scientific congress Glaxo intends to submit regulatory applications for the combination therapy in both the U S and the EU by the end of 2016 We remind investors that earlier this month following discussions with the FDA Glaxo announced that it has accelerated the timeline of a New Drug Application NDA filling in the U S to the end of 2016 from the first half of 2018 We note that a successful development and commercialization of the combination would allow Theravance Biopharma Inc NASDAQ TBPH to receive an 85 economic interest in the royalties paid by Glaxo on worldwide net sales pursuant to its agreement with Innoviva for certain drug development programs The royalties are upward tiering from 6 5 to 10 Apart from the FULFIL study the closed triple combination therapy is also being evaluated in the phase III IMPACT study to evaluate the safety and effectiveness of the combination in comparison to existing COPD therapies Data from the study are expected in 2017 Glaxo currently carries a Zacks Rank 2 Buy while Innoviva is a Zacks Rank 3 Hold stock Bristol Myers Squibb Company NYSE BMY is another favorably placed stock in the health care sector sporting a Zacks Rank 1 Strong Buy Want the latest recommendations from Zacks Investment Research Today you can download 7 Best Stocks for the Next 30 Days |
BMY | Vical VICL Reports Phase I II Data On Genital Herpes Vaccine | Vical Incorporated NASDAQ VICL presented data from a phase I II study on its genital herpes vaccine at a meeting of the American Society for Microbiology The randomized double blind placebo controlled study evaluated the genital herpes vaccine candidate in symptomatic herpes simplex virus type 2 HSV 2 infected patients The study evaluated two formulations of the vaccine a monovalent gD vaccine and a bivalent gD UL46 vaccine Data from a nine month analysis of the bivalent vaccine demonstrated a statistically significant reduction in the lesion rate compared to baseline The bivalent vaccine also revealed a favorable trend in the recurrence rate time to first recurrence and the proportion of recurrence free patients Vical said that it will evaluate the bivalent vaccine in a follow on study to measure a clinically relevant endpoint The company is currently in discussion with the FDA to determine the next step A phase II study on the bivalent vaccine is expected to begin in the second half of 2016 Meanwhile the company reiterated its 2016 guidance for net cash burn of 8 11 million Vical said that it is also working on developing its pipeline The company expects to complete enrolment in a phase III study on ASP0113 in hematopoietic cell transplant recipients in the third quarter of 2016 It also expects to top line data readout from the phase II study on ASP0113 in kidney transplant recipients in the third quarter of 2016 ASP0113 is Vical s therapeutic vaccine designed to prevent cytomegalovirus disease Vical currently carries a Zacks Rank 3 Hold Some better ranked stocks in the health care sector include Bristol Myers Squibb Company NYSE BMY ANI Pharmaceuticals Inc NASDAQ ANIP and Pfizer Inc NYSE PFE each sporting a Zacks Rank 1 Strong Buy Want the latest recommendations from Zacks Investment Research Today you can download 7 Best Stocks for the Next 30 Days |
WMB | Transco Expansion Projects To Aid Williams WMB Q4 Earnings | We expect The Williams Companies Inc NYSE WMB to beat expectations when it reports fourth quarter 2018 results after the closing bell on Wednesday Feb 13 The current Zacks Consensus Estimate for the quarter under review is a profit of 22 cents per share on revenues of 2 5 billion In the preceding three month period the Tulsa OK based energy infrastructure provider the consensus mark by 33 3 as higher volumes in the Northeast and Transco expansion projects led to increase in service revenues As far as earnings surprises are concerned the midstream player has a good record having gone past met the Zacks Consensus Estimate thrice in the last four reports This is depicted in the graph below Williams Companies Inc The Price and EPS Surprise Investors are keeping their fingers crossed and hoping that the company can continue winning ways by surpassing earnings estimate this time around too Thankfully our model indicates that Williams might beat on earnings in the fourth quarter Let s delve deeper and find out the factors impacting the results Why a Likely Positive Surprise Our proven model shows that Williams is likely to beat the Zacks Consensus Estimate this quarter as it has the right combination of two key ingredients A stock needs to have both a positive and Zacks Rank 3 Hold or higher for increasing the odds of an earnings beat You can uncover the best stocks to buy or sell before they re reported with our Earnings ESP Earnings ESP which represents the difference between the Most Accurate estimate and the Zacks Consensus Estimate is 10 08 A favorable Zacks ESP serves as a meaningful and leading indicator of a likely positive earnings surprise Zacks Rank Williams currently has a Zacks Rank of 3 which when combined with a positive ESP makes us confident of earnings beat Note that we caution against stocks with a Zacks Ranks 4 or 5 Sell rated going into an earnings announcement especially when the company is seeing a negative estimate revision What is Driving the Better Than Expected Earnings Williams Atlantic Gulf and Northeast G P segments which collectively represents around 65 of the company s adjusted EBITDA could post strong results in the upcoming quarter This would magnify Williams chances of notching up a quarterly beat Thanks to the expansion projects around Transco the country s largest gas transmission system and Williams core project being placed into service in over the past two years and the additional volumes from these takeaway infrastructures on the back of record drilling activity the company is likely to experience continued strength in revenues In particular the of the Atlantic Sunrise project the biggest expansion project in the history of Transco is expected to provide substantial incremental fee based revenue and drive EBITDA growth On the other hand the Northeast G P unit is set to benefit from higher volumes triggered by rising natural gas production from Marcellus and Utica shales Other Stocks to ConsiderWilliams is not the only company looking up this earnings season Here are some firms from the space you may want to consider on the basis of our model which shows that they have the right combination of elements to post earnings beat this quarter Sunoco LP NYSE SUN has an Earnings ESP of 1 56 and a Zacks Rank 1 Strong Buy The partnership is slated to release earnings on Feb 20 You can see Concho Resources Inc NYSE CXO has an Earnings ESP of 2 97 and a Zacks Rank 3 The company is slated to release earnings on Feb 19 Diamondback Energy Inc NASDAQ FANG has an Earnings ESP of 1 29 and a Zacks Rank 3 The company is slated to release earnings on Feb 19 The Hottest Tech Mega Trend of All Last year it generated 8 billion in global revenues By 2020 it s predicted to blast through the roof to 47 billion Famed investor Mark Cuban says it will produce the world s first trillionaires but that should still leave plenty of money for regular investors who make the right trades early |
WMB | 5 Oil Gas Stocks Poised To Beat Earnings Estimates In Q4 | Markets are more than halfway through the Q4 earnings season with 66 4 S P 500 members having reported results as of Friday Feb 8 Energy Earnings SoarThe sector has been off to a spectacular start For the 45 2 sector components on the S P 500 Index that have reported Q4 results total earnings surged 110 1 on 12 3 higher revenues While 64 3 of the companies have been successful in beating earnings estimates 57 1 outperformed the top line Let s take a look at how oil and natural gas prices behaved during the fourth quarter of 2018 and what makes the Energy sector a material factor this earnings season Q4 Report Card Volatile Oil Gas PricesA steady increase in the price of U S oil over the last two years culminated in the benchmark popping above 76 per barrel in early October the highest level in nearly four years Supply side shocks out of Iran Venezuela and Libya in the face of growing global consumption levels especially in emerging markets such as China and India put the oil market in a fundamentally tight spot Then in a stunning reversal oil faced a two pronged attack rising supply from major producers and fear that an economic slowdown will dampen the outlook for demand Oil s troubles helped send the index into a tailspin leading to a 40 drop from October highs The fourth quarter saw oil benchmark in the United States plunge to a 17 month low of 42 53 a barrel on Christmas Eve To be precise the commodity finished December at 45 41 per barrel A year ago crude futures hovered around the 60 per barrel mark According to the US Energy Information Administration or EIA the plethora of jumps and drops meant that eked out handsome year over year gain in October and a loss in December while average monthly prices in November were essentially flat compared to a year ago Meanwhile natural gas rose to a four year high of 4 929 per MMBtu in mid November The early onset of winter together with the lowest level of stocks in 15 years and demand from power plants and growing LNG shipments lifted the commodity to its highest level since November 2014 The fuel ended the quarter at 2 94 per MMBtu essentially where it was a year ago However as the EIA figures point out in October November and December rose 10 34 and 41 respectively from their respective year ago averages Average Monthly Price Gains Leads to Bullish ExpectationsA look back at the Q3 earnings season reflects that the overall results of the Energy sector were spectacular driving the aggregate growth picture for the S P 500 index The July September period turned out to be a rather good one with earnings for the sector recording a massive 106 jump from the same period last year by far the most among all 16 broad Zacks sectors by a long way on 21 2 higher revenues The picture looks rather encouraging for the Q4 earnings season as well and are validated by the sector s healthy earnings picture so far in the quarter A relatively solid backdrop is likely to aid the sector components Consequently the fourth quarter numbers should be good on the corporate earnings front Per the latest report the energy sector is poised to record the highest growth among all sectors in the fourth quarter Per our expectations the sector s earnings are expected to grow 100 3 from fourth quarter 2017 and the top line is likely to improve 14 4 from the year ago level How to Identify the Outperformers The encouraging figures suggest that there are a number of companies likely to beat our fourth quarter earnings estimates Investing in such companies can fetch handsome returns for investors This is because a stock generally surges upon earnings beat But with a wide range of energy firms thronging the investment space it is by no means an easy task for investors to arrive at stocks that have the potential to deliver better than expected earnings While it is impossible to be sure about such outperformers our proprietary methodology makes it relatively simple You can uncover the best stocks to buy or sell before they re reported with our Earnings ESP is our proprietary methodology for identifying stocks that have high chances of surprising with their next earnings announcement It shows the percentage difference between the Most Accurate estimate and the Zacks Consensus Estimate You could further narrow down the list of choices by looking at stocks that have a favorable Zacks Rank 1 Strong Buy 2 Buy or 3 Hold You can see Our research shows that for stocks with this combination the chance of a positive earnings surprise is as high as 70 Our ChoicesConcho Resources Inc NYSE CXO is an independent energy explorer with producing properties mainly in the Permian Basin of southeast New Mexico and west Texas It is based in Midland TX The company delivered a positive earnings surprise of 25 7 in the last reported quarter Concho Resources has an earnings ESP of 1 07 and a Zacks Rank 3 The company is slated to release its final quarter results on Feb 19 Concho Resources Inc Price and EPS Surprise TransCanada Corporation TO TRP is a premier energy infrastructure provider in North America primarily focused on natural gas transmission in Canada the United States and Mexico It is based in Calgary Alberta The company delivered a positive earnings surprise of 28 8 in the last reported quarter TransCanada has an earnings ESP of 1 56 and a Zacks Rank 3 The company s fourth quarter earnings release is due on Feb 14 TransCanada Corporation Price and EPS Surprise The Williams Companies Inc NYSE WMB is one of the largest domestic transporters of natural gas by volume It is based in Tulsa OK The company delivered a positive earnings surprise of 33 3 in the last reported quarter Williams has an earnings ESP of 11 63 and a Zacks Rank 3 The company is slated to release its final quarter results on Feb 13 Williams Companies Inc The Price and EPS Surprise ProPetro Holding Corp NYSE PUMP is an oilfield services company that primarily offers hydraulic fracturing to major oil and gas operators It is based in Midland TX The Zacks Consensus Estimate for fourth quarter earnings has been revised 8 5 upward in the last 30 days ProPetro has an earnings ESP of 27 52 and a Zacks Rank 3 The company s fourth quarter earnings release is due on Feb 26 ProPetro Holding Corp Price and EPS Surprise Whiting Petroleum Corporation NYSE WLL is an independent oil and gas exploration and production company whose asset base is concentrated in the Williston Basin of North Dakota and the Niobrara play in Colorado It is based in Denver CO The company delivered a positive earnings surprise of 58 6 in the last reported quarter Whiting Petroleum has an earnings ESP of 4 38 and a Zacks Rank 3 The company is slated to release its final quarter results on Feb 26 Whiting Petroleum Corporation Price and EPS Surprise 3 Medical Stocks to Buy NowThe greatest discovery in this century of biology is now at the flashpoint between theory and realization Billions of dollars in research have poured into it Companies are already generating revenue and cures for a variety of deadly diseases are in the pipeline So are big potential profits for early investors Zacks has released an updated Special Report that explains this breakthrough and names the best 3 stocks to ride it |
WMB | Williams Companies Inc The WMB Q4 Earnings And Revenues Lag Estimates | Williams Companies Inc The NYSE WMB came out with quarterly earnings of 0 19 per share missing the Zacks Consensus Estimate of 0 22 per share This compares to earnings of 0 20 per share a year ago These figures are adjusted for non recurring items
This quarterly report represents an earnings surprise of 13 64 A quarter ago it was expected that this pipeline operator would post earnings of 0 18 per share when it actually produced earnings of 0 24 delivering a surprise of 33 33
Over the last four quarters the company has surpassed consensus EPS estimates two times
Williams Companies Inc The which belongs to the Zacks Oil and Gas Production and Pipelines industry posted revenues of 2 20 billion for the quarter ended December 2018 missing the Zacks Consensus Estimate by 12 94 This compares to year ago revenues of 2 23 billion The company has topped consensus revenue estimates three times over the last four quarters
The sustainability of the stock s immediate price movement based on the recently released numbers and future earnings expectations will mostly depend on management s commentary on the earnings call
Williams Companies Inc The shares have added about 21 2 since the beginning of the year versus the S P 500 s gain of 9 5
What s Next for Williams Companies Inc The
While Williams Companies Inc The has outperformed the market so far this year the question that comes to investors minds is what s next for the stock
There are no easy answers to this key question but one reliable measure that can help investors address this is the company s earnings outlook Not only does this include current consensus earnings expectations for the coming quarter s but also how these expectations have changed lately
Empirical research shows a strong correlation between near term stock movements and trends in earnings estimate revisions Investors can track such revisions by themselves or rely on a tried and tested rating tool like the Zacks Rank which has an impressive track record of harnessing the power of earnings estimate revisions
Ahead of this earnings release the estimate revisions trend for Williams Companies Inc The was mixed While the magnitude and direction of estimate revisions could change following the company s just released earnings report the current status translates into a Zacks Rank 3 Hold for the stock So the shares are expected to perform in line with the market in the near future You can see the complete list of today s Zacks 1 Rank Strong Buy stocks here
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead The current consensus EPS estimate is 0 20 on 2 46 billion in revenues for the coming quarter and 0 94 on 9 99 billion in revenues for the current fiscal year
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well In terms of the Zacks Industry Rank Oil and Gas Production and Pipelines is currently in the bottom 25 of the 250 plus Zacks industries Our research shows that the top 50 of the Zacks ranked industries outperform the bottom 50 by a factor of more than 2 to 1 |
WMB | Williams WMB Q4 Earnings Lag Amid High Impairment Costs | Williams Companies Inc NYSE WMB reported fourth quarter 2018 adjusted earnings from continuing operations of 19 cents per share missing the Zacks Consensus Estimate of 22 cents The weaker than expected results can be attributed to impairment charges of 1 8 billion which adversely affected its overall profits The reported EPS was a penny lower than the prior year figure of 20 cents per share For the quarter ended Dec 31 2018 Williams reported revenues of 2 204 million lagging the Zacks Consensus Estimate of 2 531 million Further the top line was a tad lower than the year ago figure of 2 228 million Williams Companies Inc The Price Consensus and EPS Surprise Key TakeawaysDistributable cash flows came in at 748 million up 19 from the year ago quarter Adjusted EBITDA came in at 1 197 million in the quarter under review compared with 1 160 million in the corresponding period of 2017 Cash flow from operations totaled 962 million compared with 858 million in the prior year period Higher revenues from Transco projects drove cash flow in the quarter Other expansionary projects namely Atlantic Sunrise project and Gulf Connector will keep up the cash flow momentum in the coming periods Segmental AnalysisAtlantic Gulf This segment comprising Williams Transco Pipeline and properties in the Gulf Coast region generated adjusted EBITDA of 529 million compared with 433 million recorded in the year ago quarter Transco s Big 5 expansion projects Gulf Trace Hillabee Phase 1 Dalton New York Bay and Virginia Southside II which became functional in 2017 and 2018 drove the improved performance of the company West The segment including Northwest pipeline and operations in various regions such as Colorado Mid Continent Haynesville Shale among others delivered adjusted EBITDA of 358 million lower than 481 million recorded in the year ago quarter Impairment charges incurred in some of the gathering assets in the Barnett shale impacted the results Northeast G P This segment engages in natural gas gathering and processing along with NGL fractionation business in Marcellus and Utica shale regions The segment generated adjusted EBITDA of 304 million up 2 from the corresponding quarter of last year Higher volumes from Susquehanna Utica and Ohio River systems led to the improved results Others The segment posted adjusted EBITDA of 6 million compared with 8 million reported in the fourth quarter of 2017 Expenses SummaryTotal costs and expenses increased 19 from 2 383 million a year ago to 2 838 million in the reported quarter The increased costs were primarily driven by impairment charges and higher product expenses Capital Expenditure Balance SheetDuring the reported quarter Williams capital expenditure was 597 million Full year capex amounted to 3 256 million The company had cash and cash equivalents of 168 million as of Dec 31 2018 Its long term debt was 22 367 million representing a debt to capitalization ratio of 60 5 GuidanceWilliams anticipates adjusted EBITDA for 2019 in the band of 4 850 5 150 million with distributable cash flow within 2 900 3 300 million The coverage ratio is expected to be around 1 68 Growth capex is expected in the band of 2 7 2 9 billion Zacks Rank Key PicksCurrently Williams has a Zacks Rank 3 Hold Some better ranked players in the energy space are Sunoco LP NYSE SUN Golar LNG Partners LP NASDAQ GMLP and YPF Sociedad Anonima NYSE YPF You can see Sunoco which currently carries a Zacks Rank 2 Buy pulled off average positive earnings surprise of 18 39 in the trailing four quarters Golar currently sporting a Zacks Rank 1 surpassed earnings estimates in each of the trailing four quarters with average of 92 75 YPF Sociedad which currently holds a Zacks Rank of 2 delivered average positive earnings surprise of 210 38 in the trailing four quarters Will You Make a Fortune on the Shift to Electric Cars Here s another stock idea to consider Much like petroleum 150 years ago lithium power may soon shake the world creating millionaires and reshaping geo politics Soon electric vehicles EVs may be cheaper than gas guzzlers Some are already reaching 265 miles on a single charge With battery prices plummeting and charging stations set to multiply one company stands out as the 1 stock to buy according to Zacks research It s not the one you think |
WMB | Weak Data Day Puts Winning Streak In Jeopardy | Soft economic data put stocks under pressure right from the beginning of Thursday s session and hopes for a trade deal out of Washington weren t enough to repair the damage However late day buying in the major indices kept the losses rather tame
The Dow declined 0 40 to 25 850 63 while the NASDAQ was off 0 39 to 7459 71 The S P slipped 0 35 to 2774 88
Some of the reports that disappointed the market today included existing home sales durable goods the Philly Fed manufacturing index as well as a downward revision for fourth quarter GDP from the Atlanta Federal Reserve The data comes exactly one week after a surprising drop in retail sales for December We re still waiting to see how much these numbers are impacted by the sharp correction at the end of 2018 and the country s longest government shutdown in history
With the March 1 deadline quickly approaching though with the possibility of being extended U S and China negotiators are back at work in Washington trying to get a deal done According to Reuters they are putting together six memorandums of understanding for structural issues including IP services tech transfer agriculture currency and non tariff barriers
Such positive news was enough to give the major indices a very solid performance last week with the Dow up 3 and the other two up more than 2 each But it didn t get the job done today
So now we head into Friday s session with the market s eight week winning streak in jeopardy The first two days were positive but only barely so as we wait for some clarity on trade The indices were only down by about 0 4 today but that s actually one of the steeper declines we ve seen of late Given the holiday on Monday the Big 3 move into the final day with slight losses for the week
However it s nothing that even a modestly positive closing session can t fix Today s Portfolio Highlights Stocks Under 10 The portfolio took a break from tech for its newest addition Instead Brian Bolan added Del Frisco s Restaurant Group DFRG a Zacks Rank 2 Buy that owns steakhouses The company has topped the Zacks Consensus Estimate for two straight quarters now with beats of more than 75 and 100 DFRG will report again next month The editor likes the 43 topline growth from its last quarterly report and the diversification that it brings to the portfolio Read the complete commentary for more Insider Trader The portfolio bought a couple names on Thursday after finally getting some insider signals but first Tracey sold a few positions for solid returns Specialty chemical company Chemours CC exits with a return of 43 1 in just two months as the editor believes most of the stock s rebound has already happened Meanwhile shares of small cap bank Live Oak LOB have rebounded since getting shellacked from the government shutdown but Tracey doesn t know how much longer this volatile name can rise She sold half of LOB for a 16 7 return in less than three weeks Finally Williams NYSE WMB was also sold for a 9 5 gain in a little over three months
The new buys include Summit Materials SUM a construction materials company that has jumped 42 so far this year Usually Tracey doesn t like investing in stocks after such a run up but a recent buy by the CEO has her intrigued She added SUM with a 10 allocation The addition of Calix CALX is a bit more typical as this small cap tech company plunged 30 after its quarterly report earlier this month However three insiders bought shares after the selloff Tracey added CALX with a 10 position as well but warns that this one could be a wild ride Read the complete commentary for more on all of today s moves Options Trader Shares of Rogers Communications RCI have come all the way back from a negative reaction to an otherwise fine report Unfortunately the rebound came too late for the portfolio s previous 55 00 strike calls which quietly expired out of the money But Kevin still likes RCI and wants to get back in now that the stock has recovered The editor bought to open 3 Jul19 55 00 Calls in RCI on Thursday Read the full write up for more specifics on this addition Surprise Trader When it comes to gambling there s an old saying that goes the house always wins Well Dave plans to win right along with the house by adding Churchill Downs CHDN with a 12 5 allocation In addition to owning the track that hosts the Kentucky Derby the company also has four other tracks six casinos and several OTB facilities CHDN reports after the bell next Wednesday and has a positive Earnings ESP of 12 87 Read the full write up for more Technology Innovators In what Brian Bolan considers to be a potential Brexit play the portfolio picked up OSI Systems OSIS on Thursday The basic idea here is that Brexit will severely slow down activity at ports of trade which will make this company s cargo scanning systems all the more important In addition this Zacks Rank 1 Strong Buy posted a solid beat and raise quarter in late January Learn a lot more about this new buy in the complete commentary
All the Best
Jim Giaquinto
Recommendations from Zacks Private Portfolios Believe it or not this article is not available on the Zacks com website The commentary is a partial overview of the daily activity from Zacks private recommendation services If you would like to follow our Buy and Sell signals in real time we ve made a special arrangement for readers of this website Starting today you can see all the recommendations from all of Zacks portfolios absolutely free for 7 days Our services cover everything from value stocks and momentum trades to insider buying and positive earnings surprises which we ve predicted with an astonishing 80 accuracy Click here to test drive Zacks Ultimate for FREE |
WMB | Canada s struggling energy industry takes stock at annual Stampede party | By Nia Williams NYSE WMB Rod Nickel and Devika Krishna Kumar CALGARY Alberta Reuters Frustration is palpable among Canadian energy executives who have flocked to the annual Calgary Stampede celebrations in Canada s oil capital this week even though a recent pipeline approval gives them something to celebrate amid the rodeo competitions corporate parties and pancake breakfasts The federal government s approval of the Trans Mountain expansion last month was a boost for the battered industry On top of that crude oil prices have stabilized an aggressively pro energy party has come to power in Alberta and overall production in the country is around 5 million barrels per day making Canada the world s fourth largest producer Yet millions of barrels of crude remain in storage because of stubborn delays in pipeline expansion caused by legal challenges from environmental and indigenous groups The transportation problems have forced the Alberta government to curtail crude production to prop up Canadian oil prices which trade at a discount to U S barrels Foreign investment in Canada s energy industry is down sharply and unemployment remains stubbornly high All this has dampened the mood at Stampede the Canadian energy industry s biggest party a 10 day extravaganza of drinking western dress up and networking in tents lined with straw bales The unpredictability of getting pipelines built has kept capital out of Canada and it s not getting any better RS Energy analyst Samir Kayande told Reuters in a phone interview Canadian energy companies rely on pipelines to get crude from the oil sands province of Alberta to markets Canadian energy capital investment in 2019 is forecast to be C 37 billion less than half its level of C 81 billion in 2014 Many foreign oil companies have exited Canada leaving the industry largely in the hands of domestic producers For some this could be an opportunity but only if market access is worked out Canada is on sale The question is whether this is a temporary sale or a permanent loss Rob Dionne vice president at fund manager Scheer Rowlett Associates referring to low valuations of Canadian companies In the Wildhorse Saloon Stampede tent pitched on a parking lot in downtown Calgary the atmosphere was quieter than in past years according to one oil trader at a corporate event on Monday night even as hundreds of revelers in cowboy hats and plaid shirts filled the dance floor High unemployment in the industry put a noticeable damper on festivities the trader said with Repsol MC REP SA the latest foreign firm to cut jobs Many feel if Alberta could increase market access by building more pipelines producers could unlock billions more barrels of bitumen and boom times would return to Canada home to the world s third largest oil reserves TC Energy s Keystone XL Enbridge Inc s Line 3 and the Canadian government owned Trans Mountain expansion have all been delayed for years by legal and regulatory challenges Enbridge s existing Line 5 pipeline is also facing legal challenges in Michigan over its underwater crossing in the Great Lakes The really important thing in the short to medium term is getting these development pipeline projects completed and in service Cenovus Energy Chief Executive Officer Alex Pourbaix told Reuters on the sidelines of a conference held here this week If all of those projects go this industry probably has a significant runway before we have to worry about market access again The key word is if One Calgary based source at a major Canadian midstream company noted that he was in junior high when Keystone XL was first proposed so he is skeptical about the recent Trans Mountain approval BIGGER IS BETTER The Trans Mountain expansion will triple pipeline capacity to the Pacific coast but supporters are braced for legal challenges after a previous government approval was overturned The industry is accustomed to having its hopes raised and dashed making investors gun shy about Canada Those who do invest focus on big oil sands companies while smaller companies get ignored said Laura Lau senior portfolio manager with Brompton Group Investors want construction to start on Trans Mountain and progress on the Royal Dutch Shell led LNG Canada project in northern British Columbia Lau added Still the outlook for the Canadian oil sector is better now than it was in late 2018 when well organized environmental activists helped overturn the original Trans Mountain approval and oil production outpaced pipeline capacity pushing the discount on Canadian oil to record levels surpassing 50 a barrel The Alberta government curtailments announced late last year helped margins for struggling local producers but until transportation improves Canadian crude prices will be squeezed Since December oil prices have strengthened and western Canadian crude inventories have shrunk modestly to just over 30 million barrels from around 35 million last year In Calgary there is still hope that global appetite for Canadian oil will increase at the expense of less stable jurisdictions like Venezuela while pipelines will expand Canada needs all the stars to align to get people s attention They have been disappointed for so long Lau said
1 1 3039 Canadian dollars |
WMB | Williams back at Silverstone in his 50th year as team boss | By Alan Baldwin
SILVERSTONE England Reuters The British Grand Prix at Silverstone has always been a season s highlight for Frank Williams NYSE WMB and this weekend is no exception even if his 50th year in the sport sees his team last and without a point
Formula One s longest serving team boss now 77 is back in the team garage for the first time since last year s race at Silverstone
He doesn t travel as he used to so he comes to Silverstone said daughter Claire who effectively runs the team but carries the title of deputy principal There has never been any question of her father stepping down
We re hoping he will come to Spa this year as well because you can drive there So we re putting those plans in at the moment
Williams has been quadriplegic and in a wheelchair since a road accident after leaving a test in southern France in 1986 a year that ended with his team as constructors champions and heading for an era of dominance in the 1990s
The glory days are far in the past for the winners of nine constructors and seven drivers titles between 1980 and 1997 but Silverstone has a special place in the team s history
The current Williams team winners of 114 races were founded by Frank Williams and Patrick Head in 1977 and took their first grand prix triumph at Silverstone in 1979 with the late Swiss Clay Regazzoni
For Frank it s all about the future but that was the start of what has been a phenomenal career in this sport said Claire
Williams had first made the step up to Formula One with British brewing scion Piers Courage racing one of his cars in 1969
FROM NOTHING
He started his own career racing himself realized quite quickly he wasn t any good at it didn t quite understand where the brakes were and decided to be a constructor continued Claire
It took him a decade to get that first grand prix win here He fought incredibly hard He had no money he came from nothing He had to sell the team at one point and then he had to again start from nothing
But he never gave up and we talked a lot about that yesterday with the team Frank s resilience his tenacity and he really deserved that victory in 1979
The team have not won a race since Spain in 2012 and the team have veered from third overall as recently as 2015 to their current lows of 10th in 2018 and even worse performance this season
In the early 1990s however Williams were the team to beat with their 1992 champion Nigel Mansell attracting huge crowds to Silverstone at the height of Mansell Mania
Claire Williams said bringing back such emotions and achievements was still the main motivation for the team
Formula One has obviously changed dramatically since that time but nothing is unachievable in this life if you fight hard enough she said
Those were the glory days of Williams and they were wonderful and it s lovely to be able to celebrate Frank here this weekend and remind everybody of Frank s role not just in Williams but in Formula One as a whole
He was part of the generation that made this sport what it is today and what we all benefit from and are so privileged to be a part of |
WMB | Motor racing Rosberg happy to see Hamilton break all records | By Alan Baldwin
SILVERSTONE England Reuters Nico Rosberg can see Lewis Hamilton smashing Michael Schumacher s records to become Formula One s most successful driver and the Briton s former Mercedes team mate says he feels pretty good about it
The German is the only man to beat Hamilton over a season in the V6 turbo hybrid era that started in 2014 and the more success Hamilton has the more luster it adds to his own achievement
It is definitely not a bad thing when I see him Hamilton going on to become the best of all time and beating Schumacher s records the 2016 champion told Reuters at the British Grand Prix on Saturday
It makes me think OK Nico you have done quite a good job
If Valtteri Bottas Hamilton s current team mate and battered title rival wants any tips not that Rosberg feels the Finn needs any help from him then he can expect plenty of sacrifice and suffering
Rosberg revealed that he spent up to eight hours a week with a sports psychologist during that 2016 season undergoing the mental equivalent of boot camp to beat the one man with the same machinery
Two hours every second day of mental training It was a huge process and just gave me so much and that s one of the big reasons why I ended up being world champion said the German who retired days after winning his title
Son of 1982 world champion Keke Rosberg started working with the psychologist in 2007 after a debut season with Williams NYSE WMB but ramped it up significantly for that final campaign
I just dedicated my whole every single breathing second of my life to winning that next race and becoming world champion he said
Lewis drove me to go searching for ways to be better than I ever thought I could be because he s the best of all time or going toward the best of all time
So of course to beat him you need to rise above everything you have It s the only way to win
And at the end of the weekend there is no switching off and forgetting either
That is the tough thing about F1 It affects your wife your mum and dad It is not like you go home and it is all done said Rosberg happy to have closed that chapter in his life
It affects everybody That is why it is so intense The suffering and the joy goes all the way to your home That never stops
MOTIVATION
Hamilton is heading for a sixth championship one short of Schumacher s career tally and has 79 career wins compared to the Ferrari NYSE RACE great s 91
The Briton already holds the record for pole positions and has won more than half the races since the V6s were introduced in 2014
Compatriot Jenson Button the 2009 champion told reporters he could see Hamilton winning 10 titles before he was done but Rosberg said that would depend on the 34 year old s other interests
Equalling Schumacher s record has to be a motivation He has this historic chance and he realistically knows he can do it He has the car he has the team and the regulations are not changing before 2021 said the German
He can equal him next year in terms of championships and beat him on race wins and become the best of all time That has to be hugely motivating It has to be It is such an opportunity
Rosberg at Silverstone to promote a behavioral science program with beer brand Heineken s When You Drive Never Drink campaign said Bottas had come back strongly from a poor 2018 season but could not afford to let the momentum slip
He s been struggling as of late a little bit back to the Valtteri of last year lately so he always needs to be careful he said
If there s too many of these last year Valtteris then you re going to be out
And Lewis just gets more and more confidence and then he s off and away again He needs to try to keep fighting and not allow Lewis to get that self confidence
Rosberg said the real Hamilton rarely turned up in practice Lewis just can t really be bothered on Fridays but Saturday and Sunday was another story
I always used to work so hard on Friday and do the setup of the car and then this guy comes and finally commits himself and with his natural talent very often also taking all the setup work that I ve done and just out qualifying me
It s horrible |
WMB | Exclusive Comaneci hails history maker Halep s Wimbledon triumph | By Pritha Sarkar
LONDON Reuters Nadia Comaneci predicted no one in Romania will be working for a few days as they would be too busy celebrating Simona Halep s amazing victory over Serena Williams NYSE WMB in Saturday s Wimbledon final
Thirteen months ago Comaneci was the first person Halep hugged when she clambered up into the stands on Court Philippe Chatrier after she won her first Grand Slam title at the French Open
A scheduling conflict meant Comaneci could not fly in from her home in Oklahoma for Saturday s Wimbledon finale so she resorted to an early wake up call to follow the action on television
Halep made sure it was not a wasted cause
The former world number one produced what she called the best tennis of my life to become Romania s first Wimbledon singles champion
That was an amazing performance It s fantastic It s not a surprise she won because mentally she was ready for this win and it s now time for all of Romania to celebrate Comaneci told Reuters in a telephone interview moments after a beaming Halep walked off Center Court clutching the Venus Rosewater Dish
There will be no one working in Romania for a few days because people will be celebrating Simona s great victory
While Comaneci had total faith that her friend would triumph on Saturday others were not so sure considering Halep had won only one of her previous 10 meetings against Williams and that almost five years ago
But with the words of her mother ringing in her ears when a 10 year old Halep was told that if she wanted to do something in tennis she would need to play in a Wimbledon final the 27 year old took only 56 spellbinding minutes to fulfil her own ambition of securing a lifetime membership at the All England Club
So is the 6 2 6 2 Wimbledon triumph a bigger deal to Romanians than the Roland Garros win
Roland Garros was the ice breaker and this win is now making history Comaneci said with a laugh
July is a month that will forever bind Romania s two most famous sportswomen because it was in July 1976 that Comaneci became the first gymnast to score a perfect 10 at the Olympics
Forty three years later on another glorious summer s day Halep could not stop smiling as she kept caressing the purple All England Club membership badge that had been pinned on to her gray hooded top
It s woman power said the 57 year old Comaneci July 18 1976 was when I got my perfect 10 So July is a beautiful month in the history of Romanian sports
Forty three years ago we had our last Wimbledon finalist Ilie Nastase and today Simona went one step further She is making history as she is the only Romanian woman who has two grand slam titles
When Halep returned to her homeland following her French Open triumph more than 20 000 people turned up to hail their new hero at Bucharest s National Arena and Comaneci believes the Wimbledon triumph will once again allow Romanians from all corners to unite
When I came back from Montreal in 1976 there were 10 000 people who had turned up to greet me and I didn t know what hit me recalled Comaneci about the welcome she received as a 14 year old
But Simona is showing the young generation that if you put your mind to it and work hard you can be the best not only in Romania but in the world |
WMB | Halep beats Serena Williams to win Wimbledon singles title | By Martyn Herman LONDON Reuters Serena Williams NYSE WMB remained tantalisingly one short of a record equalling 24 Grand Slam singles titles as Simona Halep thrashed the off key American in a one sided Wimbledon final on Saturday Halep began the week halting American 15 year old Coco Gauff s dream run and will end it at the Champions Ball after dismantling seven times winner Williams 6 2 6 2 with an inspired display on Centre Court She is Romania s first Wimbledon singles champion The 27 year old set the tone by breaking the Williams serve in the opening game and raced into a 4 0 lead in front of 15 000 incredulous fans She remained rock solid throughout making only three unforced errors in a remarkable display of defence mixed with clinical counter punching Williams simply could not respond Even when Williams fired herself up at the start of the second set and began thumping the ball with her customary power seventh seed Halep refused to back off Halep weathered the squall then reeled off the last five games of what she described as the match of her life Williams has now lost three Grand Slam finals without winning a set since returning to action last March following the birth of daughter Olympia in September 2017 But this was the most chastening as she lasted only 56 minutes before biffing a forehand into the net her 26th unforced error to end the contest It was the second shortest Wimbledon final since Martina Navratilova thrashed Andrea Jaeger in 1983 one minute longer than Petra Kvitova s trouncing of Eugenie Bouchard five years ago She played out of her mind Williams who had won nine of her previous 10 matches against Halep said on court after picking up the runners up salver for the second straight year having ran into a similarly inspired Angelique Kerber last year It was a little bit a deer in headlights for me Whenever a player plays like that you just have to take your hat off Until Saturday the only other Romanian to reach a Wimbledon final was Ilie Nastase who finished runner up in 1972 and 1976 Halep went one better as she added the Wimbledon crown to the French Open she won in 2018 MOTHER S DREAM Halep said it had been her mother s dream for her to hold aloft the Venus Rosewater Dish Victory means she becomes a lifetime Wimbledon member I wanted this badly she said When I started the tournament I talked to the people from the locker room that my dream is to become a member here So today it s real I m very sure that was the best match of my life After losing to Kerber a year ago then to Naomi Osaka in a stormy U S Open final Williams 37 hoped it would be third time lucky to finally move level with Australian Margaret Court on the all time list of Grand Slam title collectors Despite having only five tournaments under her belt this year Williams who won her first Wimbledon title in 2002 had looked calm and composed en route to her 11th Wimbledon final If she thought she could put down an early marker she was mistaken as three unforced errors in the opening game handed Halep an unexpected gift of an early break Halep grew in stature and could not miss Williams on the other hand looked tight and lacked feel There was strong support for Williams including of the royal variety with friend Meghan Markle joining the Duchess of Cambridge in a crammed Royal Box But it was Halep who wowed the fans haring across the turf to whip a superb backhand on her way to a second break which she sealed with a flashing backhand return winner Williams served 45 aces en route to the final but it was Halep who served the first one on Saturday to move 4 0 ahead It was 13 minutes before Williams even got the scoreboard ticking Wake up Serena someone yelled as Halep served for the first set at 5 2 It fell on deaf ears as a shanked forehand return ended the set after 26 minutes Halep knew there would be a backlash and Williams raised the decibel level at the start of the second set bent double fists clenched and bellowing after a volleyed winner Williams led 2 1 but Halep s scampering was making her play an extra shot in every rally many of which were wild ones At 2 2 Halep scooped up a ball she had no right to reach and Williams lurched forward to blaze a backhand long
The end came quickly Halep broke again for 5 2 and showed no nerves as she calmly held to claim the title Williams craved |
WMB | Israeli education minister favours gay conversion therapy | By Dan Williams NYSE WMB
JERUSALEM Reuters Israel s education minister voiced support on Saturday for so called gay conversion therapy drawing a disavowal from Prime Minister Benjamin Netanyahu whose government s religious rightist tilt has worried liberals a home and backers abroad
Conversion therapy an attempt to alter sexual orientation or gender identity through psychological spiritual and in extreme cases physical means has been widely discredited in the West and condemned by professional health associations such as the American Medical Association as potentially harmful
Rafael Peretz an Orthodox rabbi and head of the ultranationalist United Right party who assumed the education portfolio in the Netanyahu led coalition last month said in a television interview he believed conversion therapy can work
I have a very deep familiarity with the issue of education and I have also done this he told Israel s Channel 12 TV
Giving an example of a gay person he said he had tended to Peretz said First of all I embraced him I said very warm things to him I told him Let s think Let s study And let s contemplate The objective is first of all for him to know himself well and then he will decide
The remarks sparked furor in Israel s center left opposition which ahead of a September election has sought to cast Netanyahu as enabling Orthodox indoctrination in a country whose majority Jews mostly identify as secular or of less stringent religious observance
Israel s LGBT Task Force an advocacy group demanded Peretz be fired saying in a statement his views were benighted
Shortly after the interview aired at the end of the Jewish Sabbath Netanyahu said he spoke to Peretz for clarification
The education minister s remarks regarding the pride community are unacceptable to me and do not reflect the position of the government that I head the premier said in a statement
It was the second flap Peretz had caused in less than a week after Israeli media reported that he had told fellow Cabinet members on Tuesday that the intermarriage of Jews and gentiles in the Diaspora amounted to a second Holocaust
The comparison stirred up anger among U S Jews who are mostly non Orthodox and drew a rebuke from the Anti Defamation League which said such statements cheapened the Holocaust
Speaking to Channel 12 Peretz described himself as striving to balance respect for others no matter their sexual orientation with his duties as a religious leader
I honor everyone as people I admit that I personally I am a rabbi of Israel Our Torah tells us other things But that does not mean that I look about now and give them grades he said |
WMB | Serena to fight for equality until the grave | Reuters Beaten Wimbledon finalist Serena Williams NYSE WMB has said she has no plans to give up fighting for equality to focus solely on her tennis
Williams s hopes of matching Margaret Court s all time record of 24 Grand Slam titles were dashed again on Saturday with a crushing straight sets defeat by Romanian Simona Halep
Women s great Billie Jean King said she felt Williams was spreading herself too thin in an interview midway through the tournament and urged the American to stop being a celebrity for a year and a half
She s got a baby she s trying to help gender equity particularly women of color But it makes it much harder 12 times Grand Slam champion King told the BBC
I would like her to put everything else aside because she s got people working on those things
I wish she would just make a commitment for the next year and a half to two years and say I m going to absolutely focus on what s necessary for my tennis so when I look in the mirror when I m older then I can go back in my mind and know I gave it everything I had
Williams who has been outspoken in pushing for gender and racial equality was asked in her post match media conference whether she should focus more on her tennis than on social issues and being a celebrity
The day I stop fighting for equality and for people that look like you and me will be the day I am in my grave the 37 year old said
King herself a celebrated pioneer in gender equality and social justice later clarified her comments on Twitter
I would never ask anyone to stop fighting for equality the American 75 year old wrote
In everything she does Serena shines a light on what all of us must fight for in order to achieve equality for all |
WMB | Bond Traders Locked In for July Seek Answers About Rest of 2019 | Bloomberg Bond traders appear certain that the Federal Reserve is on the brink of its first rate cut since 2008 The biggest question as the market girds for a barrage of speeches by policy makers is what comes next
Chairman Jerome Powell last week opened the door to a July cut stressing a cooling global economy and trade friction as drivers That leaves investors monitoring U S retail sales figures this week and the latest economic data out of Europe and Asia to fine tune wagers on the extent of cuts for the rest of 2019
Futures imply a quarter point July Fed cut and a total of almost 70 basis points of easing for all of 2019 Last week showed how shifting expectations for the Fed s path amid thin summer trading can jolt markets The yield curve from 2 to 10 years steepened the most since October as rate cut bets gained momentum while June inflation data beat forecasts
Global growth and domestic inflation is really the key for the Fed now said Gennadiy Goldberg a senior U S rates strategist at TD Securities There s a very low bar for the Fed to cut once or twice but there s a lot of possible permutations after that
This week is the last chance for policy makers to sway the market before the Fed s standard quiet period begins in the lead up to its July 30 31 meeting Powell speaks in Paris and New York Fed President John Williams NYSE WMB is among others scheduled to appear
Steeper Curve
The prospect of imminent Fed easing and reports showing above forecast U S inflation drove the curve steeper last week The gap between two and 10 year notes expanded about 10 basis points to 27 back toward the year s peak levels Two year yields fell to 1 85 while 10 year rates rose to 2 12
TD predicts further steepening in the next three to six months It forecasts quarter point cuts in July September and October followed by 75 basis points of reductions in 2020
There s another reason to expect longer maturities to lag Auctions last week showed investors starting to balk at yields near the lowest this year as the Fed signals it s preparing to add stimulus
Front end yields can t really rise given a July cut is baked in the cake said John Briggs head of Americas strategy at NatWest But given positioning and the recently poor 30 year auction we could see more selling pressure in the long end that causes more steepening
The 10 year yield may rise this week to the next support level at about 2 2 he said NatWest forecasts quarter point cuts in July and September and then for the Fed to stand pat
It s not all about the Fed this week Traders are also assessing the looming risk around the nation s debt limit after Treasury Secretary Steven Mnuchin warned that the government may run out of cash in early September if Congress doesn t raise the U S borrowing authority
Investors are signaling concern Treasury bills maturing around mid September through early October yield more than later maturities as buyers avoid securities that could be at risk of non payment if Congress doesn t lift or suspend the debt cap
What to Watch
Powell s appearance and June retail sales are among the week s highlights Here s the economic calendar
July 15 Empire manufacturing
July 16 Import export prices retail sales industrial production NAHB housing business inventories Treasury International Capital flows
July 17 MBA mortgage applications housing starts building permits Fed Beige Book
July 18 Philadelphia Fed business outlook jobless claims Bloomberg consumer comfort leading index
July 19 University of Michigan sentiment
It s a busy week for Fed speakers
July 15 New York Fed s Williams speaks at a Libor briefing
July 16 Atlanta Fed s Raphael Bostic Fed Governor Michelle Bowman Dallas Fed s Robert Kaplan Powell at Bank of France dinner Chicago Fed s Charles Evans
July 18 Bostic again and Williams on monetary policy
July 19 St Louis Fed s James Bullard Boston Fed s Eric Rosengren
It s a week of bills and TIPS auctions
July 15 36 billion of 3 month bills 36 billion of 6 month bills
July 16 26 billion 52 week bills
July 18 4 8 week bills 10 year Treasury Inflation Protected Securities |
WMB | Strycova and Hseih take Wimbledon women s doubles title | By Martyn Herman LONDON Reuters Czech Barbora Strycova completed a memorable Wimbledon as she partnered Hsieh Su wei to the women s doubles title on Sunday beating Canada China duo Gabriela Dabrowski and Xu Yifan 6 2 6 4 After the spine tingling drama of the earlier men s singles final the longest in the tournament s history Strycova and her Taiwanese partner finally got on court to bring the curtain down on the fortnight with a straightforward victory Oh my God there is no word to describe the feeling said a beaming Strycova who lost to Serena Williams NYSE WMB in the women s singles semi finals They became the first team to lift the doubles crown at Wimbledon without dropping a set since Serena and Venus Williams in 2009 I felt like this tournament especially Wimbledon from the first moment we stepped on the court together we just laughed and we just enjoyed the Czech said We kept it through the whole tournament I think that was the biggest key to the fact we were playing the way we played We are very different but both of us handle stress differently She Hsieh is really calm person and I m very emotional But I keep trying to enjoy it with a smile That helps me also to relax on the court Strycova 33 had also become the oldest Wimbledon singles semi final debutant when she lost to Serena on Thursday It was great day for Taiwanese players with Latisha Chan teaming up with Croatian Ivan Dodig to win the mixed doubles beating Latvian Jelena Ostapenko and 42 year old Swede Robert Lindstedt 6 2 6 3 in the final The story fixes typo in headline order of Hsieh Su wei Xu Yifan names |
BMY | ARIAD ARIA Presents Long Term Phase II Data On Iclusig | ARIAD Pharmaceuticals Inc NASDAQ ARIA presented long term follow up data from the pivotal phase II PACE study on its leukemia drug Iclusig at the Conference of the European Hematology Association
The PACE study evaluated the efficacy and safety of Iclusig in chronic myeloid leukemia CML and Philadelphia chromosome positive acute lymphoblastic leukemia patients who are resistant or intolerant to Bristol Myers Squibb Company s NYSE BMY Sprycel or Novartis AG s NYSE NVS Tasigna or patients with the T3151 mutation
Data from the study revealed that patients when treated with Iclusig continued to experience anti leukemic activity with a median follow up of four years for chronic phase CML CP CML In addition 96 of the CP CML patients who underwent dose reductions for Iclusig while in response maintained their major cytogenetic responses at the four year time point Moreover overall survival at four years was estimated at 77
Apart from the PACE study ARIAD has two additional ongoing studies evaluating Iclusig OPTIC dose ranging study and OPTIC 2L study in second line CP CML
We note that Iclusig is ARIAD s only marketed drug approved both in the U S and EU Meanwhile the company has a couple of candidates in its pipeline including brigatinib phase II for the treatment of certain patients with a form of non small cell lung cancer NSCLC and AP32788 phase I II for the treatment of patients with NSCLC with specific mutations in EGFR or HER2
ARIAD is a Zacks Rank 3 Hold stock A better ranked stock in the health care sector is Bio Blast Pharma Ltd NASDAQ ORPN sporting a Zacks Rank 1 Strong Buy |
BMY | Zacks Industry Rank Analysis Highlights Pfizer Bristol Myers Squibb And H Lundbeck | For Immediate Release
Chicago IL June 15 2016 Stocks featured in this week s Zacks Industry Rank analysis include Pfizer Bristol Myers Squibb and H Lundbeck
Zacks Industry Rank Analysis is written by John Blank PhD Chief Equity Strategist Zacks com
Don t Make It Complicated Own Drug Stocks
Don t make it complicated The Large Cap Pharma Industry usually looks like a solid investor niche Place a few of your stock picking bets here
Here s the latest top down data which shows what I mean In mid June the 15 company strong industry has a Zacks Industry Rank of 44 out of 265 that s the top 17 In recent weeks covering analysts made 10 positive earnings estimate revisions and just 5 negative revisions to large cap drug stocks Broad top down tailwinds like this I see them nearly every time I look into the pharma industry
Furthermore each time I write up the investor report the Health Care sector lands in the top 3 or 4 attractive spots out of the 10 S P500 sectors No other S P 500 sector is as consistently ranked so favorably
Finally the portfolio I run at Zacks the always attempts to have an overweight position in Health Care Lots of these drug companies are based outside the USA for tax purposes Many base operations in Ireland where the corporate profit tax rates are favorable Due to patent protection cash flows are strong and positive on successful drug stocks
As an investor not a trader there are 3 good fundamental reasons to own a drug stock
1 Aging demographics in advanced countries like the USA
Final demand growth is everything behind the sustainability of industry revenue growth If there is no rain and sun there will be no green grass The basic ingredients for rising drug demand the frailties that accompany aging are going to be there for the next 2 decades
2 Drug stocks can pay a healthy dividend
Two of the 3 stocks I list below offer dividends of 3 7 and 2 07 annually When the U S 10 year Treasury trades at record lows that adds a fixed income incentive to these stocks
3 Bigger pharma companies in the space buy smaller companies all the time
That is more often than not how the large cap drug companies grow There is a real chance to score a sizeable merger stock premium when you hold the right shares of an acquired smaller drug company The final stock I picked is a smaller though not too small drug growth stock based in Denmark
3 major Pharma stocks the Zacks Rank system identified for you
Pfizer This 210 billion market cap monster drug company gets a Zacks 1 Rank Strong Buy and a Zacks VGM score of C The Zacks Value is C and the Zacks Growth is C The PEG ratio is high at 2 67 here This is a well bid stock
They report again on July 26th The Zacks Consensus estimate is for 2 46 a share in 2016 and 2 66 a share in 2017 In the last 60 days there have been 9 positive EPS revisions and no negative revisions The company has met or barely beat on quarterly EPS reports the last 4 times at bat with an average surprise of 3 7
Hospira Warner Lamber Upjohn Parke Davis and more are rolled up into this M A built drug conglomerate The stock offers a 3 40 dividend
Pfizer Inc NYSE PFE is a research based global pharmaceutical company The Company s diversified global healthcare portfolio includes human and animal biologic and small molecule medicines and vaccines as well as nutritional products and consumer healthcare products Pfizer s Animal Health business unit discovers develops and sells products for the prevention and treatment of diseases in livestock and companion animals
Pfizer Inc is headquartered in New York City NY
Bristol Myers Squibb This 120 billion large cap pharma stock gets a Zacks 1 Rank Strong Buy and has a Zacks VGM score of D The Zacks Value score of D and Growth score of F shows that this stock like all big pharma plays is already well bid However the PEG ratio is only 1 30 Anything below 2 is OK on a forward look incorporating growth into the valuation
They report again on July 28th The Zacks Consensus estimate is for 2 60 a share in 2016 and 3 33 a share in 2017 In the last 60 days there have been 12 positive EPS revisions and no negative revisions on this stock The last 4 quarterly reports have produced 4 positive surprises averaging a nice 28 each time The stock offers a 2 09 dividend
Bristol Myers Squibb Company NYSE BMY is a global leader in the research and development of innovative lifesaving and life enhancing treatments for heart disease high blood pressure stroke diabetes cancer HIV AIDS and other infectious diseases depression schizophrenia and other mental disorders pain and other conditions
Bristol Myers Squibb is headquartered in New York City NY
H Lundbeck This is a 7 billion market cap pharma company It holds a Zacks 1 Rank Strong Buy and has a Zacks VGM score of D The Zacks Value score is F and the Growth score is A That shows you this stock is very well bid Only buy this one on a pullback down the road somewhere
They report on June 15th As a European stock the analyst coverage is very light The one analyst in our system thinks EPS will be 0 95 this year and a 2 03 whopper next year This smaller growth stock predictably offers no dividend It prefers to use its cash to fund its strong growth
H Lundbeck A S is an international pharmaceutical company engaged in the research and development production marketing and sale of pharmaceuticals across the world Its products are targeted at disorders like depression and anxiety schizophrenia insomnia Huntington s epilepsies Alzheimer s and Parkinson s diseases The Company is involved in the development of new and improved drugs for the treatment of psychiatric and neurological disorders
H Lundbeck A S is headquartered in Copenhagen Denmark
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BMY | Jazz Pharmaceuticals Offers HAL Study Data On JZP 110 | Jazz Pharmaceuticals Public Limited Company NASDAQ JAZZ presented new data from a Human Abuse Liability HAL study on its investigational wake promoting agent JZP 110 at the annual meeting of the Associated Professional Sleep Societies APSS JZP 110 is currently in phase III development for the treatment of excessive sleepiness ES in adult patients with narcolepsy or with obstructive sleep apnea OSA The randomized double blinded placebo controlled six sequence crossover study evaluated the abuse potential of JZP 110 relative to the Schedule IV stimulant phentermine in adults with a recent history of recreational polydrug use including stimulants Subjects were randomized in the six test sequences and they received a single treatment that included JZP 110 at 300 mg 600 mg and 1200 mg phentermine at 45 mg and 90 mg and placebo with a two day washout period between each treatment The primary endpoint of the study was Liking at the Moment across the first 12 hours after drug administration while the key secondary endpoints was Overall Next Day Drug Liking and willingness to Take the Drug Again at 24 hours after drug administration Results from the study demonstrated that each dose of JZP 110 had consistently lower ratings on both the primary and the secondary endpoints compared to the Schedule IV stimulant phentermine 90 mg However JZP 110 300 mg and JZP 110 600 mg and at 1200 mg did not have any statistical difference in the Overall Next Day Drug Liking measure compared to phentermine 45 mg and placebo respectively We note that JZP 110 has Orphan Drug designation in the U S for narcolepsy We remind investors that in Jan 2014 Jazz acquired worldwide development manufacturing and commercial rights to JZP 110 from Aerial BioPharma Jazz currently carries a Zacks Rank 3 Hold Some better ranked stocks in the health care sector are Bristol Myers Squibb Company NYSE BMY ANI Pharmaceuticals Inc NASDAQ ANIP and Pfizer Inc NYSE PFE each sporting a Zacks Rank 1 Strong Buy |
BMY | Infinity INFI At 52 Week Low On Disappointing Duvelisib Data | Infinity Pharmaceuticals Inc s NASDAQ INFI shares plunged 69 2 to hit a new 52 week low after the company announced unfavorable data from the phase II DYNAMO study on its lead candidate duvelisib for the treatment of refractory indolent non Hodgkin lymphoma iNHL The DYNAMO study was evaluating the safety and efficacy of duvelisib 25 mg administered twice daily as monotherapy in patients with follicular lymphoma FL small lymphocytic lymphoma SLL or marginal zone lymphoma whose disease has progressed and who are refractory to Rituxan rituximab and to either chemotherapy or radioimmunotherapy Data revealed that duvelisib demonstrated an overall response rate of 46 all partial responses and below expectations Side effects were however reportedly reversible and clinically manageable INFINITY PHARMA Price Infinity Pharma said that it is planing to seek feedback from the FDA to determine the path forward with respect to duvelisib in the iNHL indication We note that Infinity Pharma has a collaboration and license agreement with AbbVie Inc NYSE ABBV for the development and commercialization of duvelisib in oncology indications Currently the companies are in discussions to explore the next steps for the parties collaboration As a result of the pending resolution the companies have decided to halt a phase Ib II study on duvelisib which was evaluating the candidate in combination with Venclexta venetoclax for the treatment of relapsed or refractory indolent or aggressive NHL chronic lymphocytic leukemia CLL or SLL Meanwhile Infinity Pharma said that it will initiate a restructuring process under which it has decided to shut down its discovery research organization The move is estimated to impact 21 or 46 members of the company s workforce In addition Infinity Pharma stated that its previously announced financial guidance for 2016 is no longer applicable The company plans to provide an updated guidance following the resolution of its strategic activities Our TakeThe results of the DYNAMO study are highly disappointing as the company is heavily dependent on duvelisib for growth Further we remain concerned on the Infinity Pharma s future alliance with AbbVie Note that Infinity Pharma is not new to pipeline setbacks Earlier the company had to discontinue the development of duvelisib in the rheumatoid arthritis indication after the candidate failed to meet the primary endpoint in the phase II ASPIRA study Currently duvelisib is being evaluated for the treatment of previously treated FL DYNAMO R phase III and relapsed refractory CLL DUO phase III Going ahead we expect investors to focus on further details related to the development of duvelisib in other indications Infinity Pharma currently carries a Zacks Rank 3 Hold A couple of better ranked stocks in the health care sector are Bristol Myers Squibb Company NYSE BMY and Pfizer Inc NYSE PFE both sporting a Zacks Rank 1 Strong Buy Want the latest recommendations from Zacks Investment Research Today you can download 7 Best Stocks for the Next 30 Days |
BMY | Will Bristol Myers Squibb BMY Crush Estimates At Its Next Earnings Report | Looking for a stock that might be in a good position to beat earnings at its next report Consider Bristol Myers Squibb Company NYSE BMY a firm in the Large Cap Pharma industry which could be a great candidate for another beat This company has seen a nice streak of beating earnings estimates especially when looking at the previous two reports In fact in these reports BMY has beaten estimates by at least 10 in both cases suggesting it has a nice short term history of crushing expectations Earnings in FocusTwo quarters ago BMY expected to earn 28 cents per share while it actually produced earnings of 38 cents per share a beat of 35 7 Meanwhile for the most recent quarter the company looked to deliver earnings of 66 cents per share when it actually saw earnings of 74 cents per share instead representing a 12 1 positive surprise BRISTOL MYERS Price and EPS Surprise Thanks in part to this history recent estimates have been moving higher for Bristol Myers Squibb In fact the for BMY is positive which is a great sign of a coming beat After all the Zacks Earnings ESP compares the most accurate estimate to the broad consensus looking to find stocks that have seen big revisions as of late suggesting that analysts have recently become more bullish on the company s earnings prospects This is the case for BMY as the firm currently has a Zacks Earnings ESP of 1 52 so another beat could be around the corner This is particularly true when you consider that BMY has a great Zacks Rank 1 Strong Buy which can be a harbinger of outperformance and a signal for a strong earnings profile And when you add this solid Zacks Rank to a positive Earnings ESP of the time so it seems pretty likely that BMY could see another beat at its next report especially if recent trends are any guide |
BMY | Endo s ENDP Pain Drug Opana ER To Face FDA Panel In Fall | Endo International plc NASDAQ ENDP announced that it has been informed that the FDA s Advisory Committee will meet in the fall of 2016 to review its supplemental new drug application sNDA for Opana ER Previously the FDA was expected to render its decision on Opana ER by Jul 29 2016 But now the regulatory agency will give its verdict following the Advisory Committee meeting The sNDA for Opana ER included studies to evaluate the abuse deterrence of the formulation We note that Opana ER is an opioid agonist approved for the management of pain severe enough to require daily around the clock opioid treatment and for which alternative treatment options are inadequate The drug registered net sales of 175 8 million in 2015 down 11 Sales continue to be impacted by generic versions of the non crush resistant formulation of Opana ER In Feb 2016 Endo launched Belbuca in the U S which is also approved for the same indication Although early healthcare provider feedback has been positive the first few weeks of sales were slower than expected Endo has a license and development agreement with BioDelivery Sciences International Inc NASDAQ BDSI for Belbuca Endo is a Zack Rank 4 Sell stock A couple of better ranked stocks in the health care sector are ANI Pharmaceuticals Inc NASDAQ ANIP and Bristol Myers Squibb Company NYSE BMY Both stocks sport a Zacks Rank 1 Strong Buy Want the latest recommendations from Zacks Investment Research Today you can download 7 Best Stocks for the Next 30 Days |
BMY | Emergent EBS BioThrax Gets Orphan Status In The U S | Emergent BioSolutions Inc NYSE EBS announced that the FDA has granted Orphan Drug status to BioThrax anthrax vaccine adsorbed for post exposure prophylaxis of anthrax resulting from exposure suspected or confirmed to bacillus anthracis The status offers seven years of marketing exclusivity to BioThrax in the U S through Nov 2022 It is granted to drugs that have the potential to treat diseases that affect less than 200 000 people in the U S Currently BioThrax is the only FDA licensed vaccine for anthrax It is indicated in the U S for the treatment of both pre exposure and post exposure prophylaxis of anthrax We note that in Apr 2016 Emergent BioSolutions submitted a supplemental Biologics License Application sBLA in the U S seeking a regulatory nod for manufacturing BioThrax in Building 55 the company s large scale manufacturing facility The company believes that Building 55 has the potential to expand manufacturing capacity to an estimated 20 25 million doses a year from the 7 9 million doses produced out of the current licensed facility We remind investors that the company has initiated a tax free spin off of the Biosciences business into a separate publicly traded company Aptevo Therapeutics Aptevo will focus on cancer and hematology treatments while Emergent BioSolutions will continue to operate as a specialty biopharmaceutical company This spin off is anticipated to close shortly Emergent BioSolutions currently carries a Zacks Rank 3 Hold Some better ranked stocks in the health care sector are Bristol Myers Squibb Company NYSE BMY ANI Pharmaceuticals Inc NASDAQ ANIP and Pfizer Inc NYSE PFE each sporting a Zacks Rank 1 Strong Buy Want the latest recommendations from Zacks Investment Research Today you can download 7 Best Stocks for the Next 30 Days |
WMB | Will Williams Companies Continue To Surge Higher | As of late it has definitely been a great time to be an investor in Williams Companies Inc NYSE WMB The stock has moved higher by 2 5 in the past month while it is also above its 20 Day SMA too This combination of strong price performance and favorable technical could suggest that the stock may be on the right path We certainly think that this might be the case particularly if you consider WMB s recent earnings estimate revision activity From this look the company s future is quite favorable as WMB has earned itself a Zacks Rank 2 Buy meaning that its recent run may continue for a bit longer and that this isn t the top for the in focus company You can see Zacks Top 10 Stocks for 2019In addition to the stocks discussed above wouldn t you like to know about our 10 finest buy and holds for the year From more than 4 000 companies covered by the Zacks Rank these 10 were picked by a process that consistently beats the market Even during 2018 while the market dropped 5 2 our Top 10s were up well into double digits And during bullish 2012 2017 they soared far above the market s 126 3 reaching 181 9 This year the portfolio features a player that thrives on volatility an AI comer and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs |
WMB | Golds Price Finished Up At 1303 Last Week | Twas one week ago wherein we bemoaned that a lifeless Gold had fallen out of bed Today twould appear Gold s getting banged on the floor has brought some life back to price and moreover some volatility
To be sure the year is thus far young Nevertheless after making a year to date low at 1275 just 48 hours ago on Thursday Gold then made a year to date high at 1303 less than 24 hours ago on Friday indeed settling at that price yesterday for the week And from the Oh Goody Goody Dept with Gold s trading volume this ensuing week rolling from the February contract into that for April in a week s time we ll have added another five to six points of premium into the price Life is good Course we ought to point out that twas in the final hour of Friday s GLOBEX trading from 21 00 22 00 GMT that Gold got a good dose of pop from 1299 1303 on volume far higher than tis normal for that period Perhaps twas you coming through
Still Friday alone was Gold s best intra day low to high percentage move 1 9 since 20 December and further twas the best intra day low to high points move 25 since 12 October However said move flew in the face of one of our most favoured technical readings the Baby Blues with which we start straight away Regular readers know these blue dots as portrayed by the day from three months ago to date for Gold on the left and Silver on the right represents the consistency of price s linear regression trend And at present the dots are in full cascade for both precious metals Friday s wunderbars notwithstanding
Either way in turning to Gold s weekly bars a tip of the cap is due to the present parabolic Long trend now sporting 20 weeks of duration it ties for the fifth such lasting trend with that ending 09 January 2004 millennium to date Notable Technical Note for the prior five trends of like or longer duration following their then subsequent Short malaises the low to high price ranges in two cases for their next Long trends exceeded 30 Whilst we don t how low Gold s next Short trend may go and let s say tis modest if then arbitrarily measuring from the top of The Box 1240 1280 such that a 30 move be realized we re talkin Gold well north of 1600 Impressive Sorta Of late Gold has yet to fully escape The Box nor has the Gold Silver ratio departed the lofty 80s levels And as we ve said a bazillion times ya ain t really goin anywhere til ya clear Base Camp 1377
Now as we turn to the Economic Barometer coincident with the StateSide partial government shutdown having been partially resolved i e for these next three weeks tis time once again for a brief stint of Facts Hercule Facts
Fact Un The shutdown ran from 22 December through 25 January 35 calendar days Fact Deux Sans weekends and holidays the shutdown was 22 days Fact Trois 3 of 4 federal civilian employees stayed on the job Office of Personnel Management Fact Quatre The S P 500 posted a net change throughout of 10 3 Fact Cinq Gold posted a net change throughout of 3 4 Silver 7 2 and Oil 17 9 Fact Six Four weeks into the shutdown found first time jobless claims posting a 50 year low Fact Sept Hence the mildly albeit barely up turning Econ Baro
Course the real EconStinkers this past week was a slowing in December s Existing Home Sales to a reading below 5 million for the first time since December 2016 along with a negative change in the month s lagging Leading Indicators no surprise there given the Baro s overall downtrend
Elsewhere across the pond European Central Bank President Mario Draghi put the kibosh on anticipation for growth in the EuroZone FinMedia accounts thereto initially confusing us that risks have moved to the downside is not less risk better Tis a double negative Then in China their Q4 Gross Domestic Product annualized rate came in at 6 4 the weakest in some 28 years but by StateSide measures a level not achieved here since Q4 of 2000 indeed half that rate today is considered pretty darn good
Pretty darn good as well are the precious metals price positions in their 10 day Market Profiles respectively for Gold below left and Silver below right A week ago at this time the price was buried at the bottom of both stacks now present price tops both stacks
Speaking of which here is the state of The Gold Stack with price positioned just above the Whiny 1290s
The Gold StackGold s Value per Dollar Debasement from our opening Scoreboard 2873Gold s All Time High 1923 06 September 2011 The Gateway to 2000 1900 Gold s All Time Closing High 1900 22 August 2011 The Final Frontier 1800 1900 The Northern Front 1750 1800On Maneuvers 1579 1750The Floor 1466 1579Le Sous sol Sub 1466Base Camp 1377 The 1360s Double Top 1362 in Sep 17 and 1369 in Apr 18 2019 s High 1303 25 January 10 Session directional range up to 1303 from 1275 28 points or 2 2 Gold Currently 1303 expected daily trading range EDTR 11 points Neverland The Whiny 1290sTrading Resistance none per the profile Trading Support 1298 1291 128210 Session volume weighted average price magnet 12882019 s Low 1275 24 January The 300 Day Moving Average 1272 and flatThe Weekly Parabolic Price to flip Short 1271 The Box 1240 1280
Next week already welcomes February Tis also the busiest week year to date for the Econ Baro which looks to receive some 15 metrics and add to which comes the Federal Open Market Committee s first do nothing policy foray for 2019 Remember as in sports this season s FOMC lineup is somewhat altered with Clearly Richard Clarida moving up into the No 2 slot as Vice Chairman bumping Jumpin Johnny Williams NYSE WMB Tis also expected the team mascot may morph a bit from a hawk into a dove Course separate from the government as the Fed may be the way Washington is these days we ll probably end up with a pigeon So best to end up with Gold |
WMB | Weak Oil Refining Margins To Mar Shell RDS A Q4 Earnings | Royal Dutch Shell LON RDSa plc is set to announce fourth quarter 2018 results on Jan 31 before the opening bell In the preceding three month period the Hague based supermajor reported weaker than expected results owing to lackluster performance from its downstream segment The Anglo Dutch energy company has a mixed earnings surprise history It surpassed earnings estimates in two of the last four quarters with average negative surprise of 5 07 Royal Dutch Shell PLC Price and EPS Surprise Let s see which way are the company s top and bottom line estimates headed this time The Zacks Consensus Estimate for revenues is pegged at 86 9 billion compared with 85 4 billion in the prior year quarter The Zacks Consensus Estimate for fourth quarter earnings of 1 30 per share also reflects a year over year increase of 25 However earnings estimates for the to be reported quarter have been revised downward by six cents in the past seven days Let s delve deeper into the factors that are likely to influence Shell s earnings in the quarter to be reported Factors at PlayDuring fourth quarter 2018 the West Texas Intermediate WTI crude plunged from a multi year high of 76 40 a barrel in early October to below 45 in late December per the U S Energy Information Administration Oil prices took a beating during the quarter amid supply glut U S Sino trade tensions weakening demand outlook and concerns related to economic slowdown This will keep the company s 60 liquids weighted portfolio under pressure As it is Shell is bearing the brunt of contracting oil production since the last few quarters owing to the company s asset sales program The weakness in oil prices and lower oil production volumes are likely to have an adverse impact on the company s upstream revenues Shell s downstream segment is also likely to get impacted as crack spreads have narrowed in the quarter vis a vis the prior year period As it is the company s downstream profits fell 25 in the last reported quarter owing to weaker refining margins and the trend is likely to continue this time as well Markedly crack spreads in the United States are at a five and a half month low and spreads are even lower in the negative in Europe This is likely to lower year over year refining margins thereby weakening downstream income of the company The average monthly spot prices of the commodity in the respective months of third quarter 2018 were 3 21 4 11 and 3 90 per Million Btu representing healthier prices than fourth quarter 2017 While higher natural gas prices may aid the integrated gas segment of the firm Shell is likely to come up with weaker results amid tepid upstream and downstream performance Earnings WhispersOur proven model also shows that Shell is unlikely to beat estimates this earnings season That is because a stock needs to have both a positive and a Zacks Rank 1 Strong Buy 2 Buy or 3 Hold for this to happen That is not the case here as you will see below Earnings ESP Earnings ESP which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate is 0 00 This is because the Most Accurate Estimate and the Zacks Consensus Estimate are both pegged at 1 30 You can uncover the best stocks to buy or sell before they re reported with our Zacks Rank Shell currently carries a Zacks Rank 5 Strong Sell As it is we caution investors against stocks with a Zacks Rank 4 Sell or 5 going into the earnings announcement especially when the company is seeing negative estimate revisions Stocks to ConsiderThough an earnings beat looks uncertain for Shell here are a few firms from the energy space that you may want to consider on the basis of our model These have the right combination of elements to post an earnings beat in the quarter to be reported Patterson UTI Energy Inc NASDAQ PTEN has an Earnings ESP of 0 54 and a Zacks Rank 3 The firm is expected to release fourth quarter earnings on Feb 7 Philips 66 NYSE PSX has an Earnings ESP of 18 19 and holds a Zacks Rank 3 The firm is expected to report fourth quarter earnings on Feb 8 Williams Companies NYSE WMB has an Earnings ESP of 7 24 and a Zacks Rank 3 The firm is expected to release fourth quarter earnings on Feb 13 You can see Zacks Top 10 Stocks for 2019In addition to the stocks discussed above would you like to know about our 10 finest buy and holds for the year Who wouldn t Our annual Top 10s have beaten the market with amazing regularity In 2018 while the market dropped 5 2 the portfolio scored well into double digits overall with individual stocks rising as high as 61 5 And from 2012 2017 while the market boomed 126 3 Zacks Top 10s reached an even more sensational 181 9 |
WMB | What s In Store For Phillips 66 Partners PSX Q4 Earnings | Phillips 66 Partners LP NYSE PSXP is set to release fourth quarter 2018 results before the opening bell on Feb 8 In the last reported quarter the company s earnings of 1 10 per share beat the Zacks Consensus Estimate of 93 cents In the trailing four quarters the company delivered a positive earnings surprise of 6 beating estimates thrice This can be attributed to improved volumes at the partnership s wholly owned pipelines For the fourth quarter the company is expected to report earnings of 1 10 per share Phillips 66 Partners LP Price and EPS Surprise Let s see how things are shaping up for this announcement Which Way are Estimates Trending Let s take a look at estimate revisions to get a clear picture of what analysts are thinking about the company before the earnings release The Zacks Consensus Estimate of 1 10 for the fourth quarter has seen two upward and no downward revisions by firms in the past 30 days This reflects year over year growth of about 32 5 The Zacks Consensus Estimate for fourth quarter revenues is pegged at 383 3 million reflecting an improvement of 15 8 from the year ago period Factors at PlayHouston TX based Phillips 66 Partners provides midstream services through its fee based crude oil refined petroleum products and natural gas liquids pipelines terminals as well as other midstream assets The infrastructure provider with 6 3 billion market capitalization operates pipeline systems in Borger Ponca City Billings Lake Charles Sweeny and Wood River These pipeline assets provide shipping services in North America where production has currently surpassed the transportation capacity Phillips 66 Partners pipeline assets face strong demand in the market and generate long term steady cash flow from operations Also with several projects coming online in the past few months the partnership is poised to benefit amid the bottleneck situation Notably fourth quarter results are expected to record a year over year improvement on the back of the Sacagawea raw natural gas pipeline project which came online in the third quarter of 2018 Moreover the expansion of the Bayou Bridge Pipeline connecting Lake Charles to St James LA originally estimated to be completed in fourth quarter 2018 will support year over year earnings growth Additionally the extension of the Sand Hills NGL Pipeline came into service on Dec 1 While Phillips 66 Partners holds one third of ownership stakes in the project DCP Midstream LP NYSE DCP owns the rest The pipeline supports the rising demand for takeaway capacity in the Permian Basin Also Phillips 66 Partners terminal rail rack and storage assets located in Illinois Kansas Louisiana Missouri Montana New Jersey Oklahoma Texas and Washington as well as marine assets in Lake Charles and Wood River will support fourth quarter results However in the first nine months of 2018 its total costs and expenses have risen 8 4 from the last year s corresponding period to 516 million The partnership s bottom line will likely be hurt if this trend continues in the fourth quarter as well What Does Our Model Unveil Our proven model does not conclusively show that Phillips 66 Partners is likely to beat the Zacks Consensus Estimate in the to be reported quarter This is because a stock needs to have both a positive and a Zacks Rank 1 Strong Buy 2 Buy or 3 Hold for this to happen Unfortunately this is not the case here as elaborated below Earnings ESP Earnings ESP represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate Phillips 66 Partners has an ESP of 3 47 as the Most Accurate Estimate stands at 1 07 lower than the Zacks Consensus Estimate of 1 10 You can uncover the best stocks to buy or sell before they re reported with our Zacks Rank Phillips 66 Partners currently carries a Zacks Rank 2 Though a Zacks Rank of 2 increases the predictive power of ESP a negative ESP makes surprise prediction difficult We caution against Sell rated stocks Zacks Ranks 4 and 5 going into the earnings announcement especially when the company is seeing negative estimate revisions Energy Stocks With Favorable CombinationThough an earnings beat looks uncertain for Phillips 66 Partners here are a few firms from the energy space that you may want to consider on the basis of our model These have the right combination of elements to post an earnings beat in the quarter to be reported Tulsa OK based The Williams Companies Inc NYSE WMB has a Zacks Rank 3 and an Earnings ESP of 10 08 The company is slated to report fourth quarter earnings on Feb 13 You can see Houston TX based Phillips 66 NYSE PSX carries a Zacks Rank 3 and has an Earnings ESP of 7 80 The company is anticipated to report quarterly results on Feb 8 Zacks Top 10 Stocks for 2019In addition to the stocks discussed above would you like to know about our 10 finest buy and holds for the year Who wouldn t Our annual Top 10s have beaten the market with amazing regularity In 2018 while the market dropped 5 2 the portfolio scored well into double digits overall with individual stocks rising as high as 61 5 And from 2012 2017 while the market boomed 126 3 Zacks Top 10s reached an even more sensational 181 9 |
WMB | Williams Companies Inc The WMB Reports Next Week Wall Street Expects Earnings Growth | Williams Companies Inc The NYSE WMB is expected to deliver a year over year increase in earnings on higher revenues when it reports results for the quarter ended December 2018 This widely known consensus outlook gives a good sense of the company s earnings picture but how the actual results compare to these estimates is a powerful factor that could impact its near term stock price
The earnings report which is expected to be released on February 13 2019 might help the stock move higher if these key numbers are better than expectations On the other hand if they miss the stock may move lower
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management s discussion of business conditions on the earnings call it s worth handicapping the probability of a positive EPS surprise
Zacks Consensus Estimate
This pipeline operator is expected to post quarterly earnings of 0 22 per share in its upcoming report which represents a year over year change of 10
Revenues are expected to be 2 53 billion up 13 6 from the year ago quarter
Estimate Revisions Trend
The consensus EPS estimate for the quarter has been revised 8 99 lower over the last 30 days to the current level This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change
Price Consensus and EPS Surprise
Earnings Whisper
Estimate revisions ahead of a company s earnings release offer clues to the business conditions for the period whose results are coming out This insight is at the core of our proprietary surprise prediction model the Zacks Earnings ESP Expected Surprise Prediction
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate The idea here is that analysts revising their estimates right before an earnings release have the latest information which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier
Thus a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate However the model s predictive power is significant for positive ESP readings only
A positive Earnings ESP is a strong predictor of an earnings beat particularly when combined with a Zacks Rank 1 Strong Buy 2 Buy or 3 Hold Our research shows that stocks with this combination produce a positive surprise nearly 70 of the time and a solid Zacks Rank actually increases the predictive power of Earnings ESP
Please note that a negative Earnings ESP reading is not indicative of an earnings miss Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and or Zacks Rank of 4 Sell or 5 Strong Sell
How Have the Numbers Shaped Up for Williams Companies Inc The
For Williams Companies Inc The the Most Accurate Estimate is higher than the Zacks Consensus Estimate suggesting that analysts have recently become bullish on the company s earnings prospects This has resulted in an Earnings ESP of 10 08
On the other hand the stock currently carries a Zacks Rank of 3
So this combination indicates that Williams Companies Inc The will most likely beat the consensus EPS estimate
Does Earnings Surprise History Hold Any Clue
Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings So it s worth taking a look at the surprise history for gauging its influence on the upcoming number
For the last reported quarter it was expected that Williams Companies Inc The would post earnings of 0 18 per share when it actually produced earnings of 0 24 delivering a surprise of 33 33
Over the last four quarters the company has beaten consensus EPS estimates two times
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors Similarly unforeseen catalysts help a number of stocks gain despite an earnings miss
That said betting on stocks that are expected to beat earnings expectations does increase the odds of success This is why it s worth checking a company s Earnings ESP and Zacks Rank ahead of its quarterly release Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they ve reported
Williams Companies Inc The appears a compelling earnings beat candidate However investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release |
WMB | Serena Halep cruise into Wimbledon final | Serena Williams NYSE WMB and Simona Halep dominated their semifinal matches at Wimbledon on Thursday setting up their 12th lifetime meeting Saturday in the women s final
Williams a seven time Wimbledon winner will make her 11th appearance in the singles finals at the All England Club Halep a former World No 1 has one Grand Slam championship to her credit the French Open in 2018
A win by Williams would give her 24 Grand Slam tournament titles tying Australian legend Margaret Court for the most all time
It took Williams just 59 minutes to topple Barbora Strycova of the Czech Republic 6 1 6 1 and advance to her second straight Wimbledon final and her 32nd final of a Grand Slam Angelique Kerber defeated her in the 2018 final
It definitely feels good to be back in the final Williams told ESPN after the match I love what I do I wake up every morning I get to be fit I get to play a sport I have a great job and I m still pretty good at what I do I guess
Halep the seventh seed in the women s draw surged into the final with a 6 1 6 3 win over Elina Svitolina of Ukraine in just 73 minutes
It is one of the best moments of my life Halep said in her post match interview I m really excited but also nervous I m just trying to enjoy it as much as possible It was not as easy as the score shows I fought really hard is an amazing player and it s always tough to play against her
Halep advanced to the Wimbledon semifinals in 2014
Williams is 9 2 all time against the 27 year old Halep including their only meeting at Wimbledon 2011 in the round of 64 The past two meetings were also on the Grand Slam stage Williams won in three sets in the 2019 Australian Open and took another three setter at the 2016 US Open
In her post match news conference Williams addressed the potential of tying Court s record in Grand Slam tournaments Williams has been stuck on 23 since she won the Australian Open in January 2017 before the birth of her daughter later that year
It s really not about 24 or 23 or 25 it s really just about going out there and giving my best effort no matter what Williams 37 said No matter what I do I will always have a great career I don t know I just kind of let it go this morning I feel really calm about it
With Thursday s win Williams tied Martina Navratilova for the second most finals in tennis history with 32 trailing only Chris Evert s 34
Field Level Media |
WMB | Halep rolls over Svitolina to reach first Wimbledon final | By Pritha Sarkar LONDON Reuters In years to come when tennis fans flick through the hefty 500 page Wimbledon Compendium they will note that in 2019 Simona Halep rolled over Ukrainian Elina Svitolina in the semi finals for the loss of just four games What the 6 1 6 3 scoreline will not reveal however was that Halep took nine minutes to hold serve in the opening game of the encounter played out in glorious sunshine on Centre Court or that Svitolina earned and squandered three break points Readers will also have no idea that the first two games alone lasted 20 exhilarating minutes featuring 10 break points and that Svitolina could have been 2 0 up if she had capitalised on the numerous opportunities that fell her way Instead it was Halep who grabbed the 2 0 lead before running away with a victory that put her one win from becoming the first Romanian to lift a Wimbledon singles trophy It is an amazing feeling I am very excited and nervous It was one of the best moments of my life and I am trying to enjoy it said a beaming Halep after her 73 minute destruction set up a final against Serena Williams NYSE WMB I am going to fight to the end because I really want to win this championship As both Halep and Svitolina stretched every sinew running to chase down everything their opponent could throw at them in rallies that went on for over 20 shots fans who had settled into their 200 seats thought they were about to witness a show stopping battle that could become an all time classic But just when Williams and Barbora Strycova who were waiting in the wings ready to contest the second semi final might have been contemplating if they would need to change their dinner plans Halep was broken to love in the very next game It was that sort of a strange match A clash that had looked close on paper with eighth seed Svitolina holding a 4 3 advantage in head to head meetings with seventh seed Halep ended up being thin on drama BASELINE TACTICS Before Svitolina had a chance to daydream about what it would be like to become the first Ukrainian to feature in a Wimbledon singles final she had lost the first set without holding her serve even once It might have taken Halep 20 minutes to win the first two games but the rest of the set lasted only another 23 minutes to the disappointment of not only Svitolina but also her tennis playing boyfriend Gael Monfils who sat frowning in the players box The daughter of a former wrestler Svitolina simply struggled to grapple with Halep s solid baseline tactics and the crowd also found it hard to make much sense of what they were witnessing In the beginning you want to make a statement that you are there for the fight I didn t take my chances That s was disappointing said Svitolina When Svitolina finally held serve for the first time to open the second set the sympathy clap that usually follows such occasions was also missing It appeared as if the 15 000 spectators had lost interest in a match that was heading for only one conclusion Halep stormed through her first three service games in the second set without dropping a point and within a blink of an eye she held two match points at 5 3 up on Svitolina s serve A forehand error on the first delayed her celebrations but she made no mistake on the second when the Ukrainian netted a backhand Sticking her tongue out Halep looked up to the heavens with arms held aloft as she soaked up the standing ovation from the cheering fans having completed a win she described as one of my best on grass While Halep tried to play down the demolition job by suggesting it is not like the scoreline looks each game went long and deep Svitolina summed up the 27 year old Romanian s performance by saying She played unbelievable today She was moving really good striking the ball perfectly It was a little bit me making poor decisions in some important moments and her playing unbelievably which made the score like that |
WMB | Fed s Williams says U S economy is in a good place but picture is complex | By Trevor Hunnicutt ALBANY N Y Reuters The case for cutting rates has grown stronger because of uncertainties weighing on the U S economy and weaker inflation New York Federal Reserve President John Williams NYSE WMB said on Thursday If anything relative to earlier in the year the conditions the arguments for adding policy accommodation have strengthened over time Williams told reporters on the sidelines of an event at the University at Albany State University of New York We ve got the uncertainties especially related to trade and global growth We have issues around inflation expectations being soft and obviously inflation data continuing to run below 2 A single strong jobs report and a commitment by Washington and Beijing to return to active trade negotiations did not remove the issues that the Fed found concerning at its last meeting Williams said echoing comments by Chairman Jerome Powell in his congressional testimony this week At its June 18 19 meeting many policymakers expressed the view that stimulus would be needed soon according to the minutes from that meeting released on Wednesday But some policymakers have also cautioned that the case is not yet strong enough to cut rates at their next meeting on July 30 31 a move markets regard as a near certainty Williams said the economy is still in a good place and set to grow above its long run potential this year with no recession in sight He told reporters that markets expectations are already supporting lower interest rates on corporate bonds and mortgages stimulating economic activity Yet he highlighted worrisome trends including that manufacturing production is in decline global growth and domestic job gains are slowing and inflation below the central bank s target may be negatively affecting people s decisions when they spend and set prices The headline data mask a more nuanced economic picture Williams said of the longest U S economic expansion on record The New York based central banker has a vote on the committee that sets rates The Fed has kept its current benchmark overnight interest rate in a range of between 2 25 and 2 50 since December Monetary policy is an important tool but it alone cannot address all the economic issues that we face Williams told students here
Williams remarks represent a sharp shift from his assessment in May when he was asked whether a rate cut was needed to support inflation At that time he said I don t think we re at that point today and I don t think we ll be at that point in the very near future |
WMB | Fed s Bostic say U S in good position on both inflation and employment | By Howard Schneider and Ann Saphir ATLANTA VICTOR Idaho Reuters As Federal Reserve Chair Jerome Powell kept the focus Thursday on global risks that could trigger a Fed rate cut in coming weeks his colleagues from regional Fed districts painted a rosier picture of continued U S economic growth and a solid business outlook The contrasting remarks show the dilemma the Fed faces as it heads toward an end of month monetary policy meeting now broadly expected to end with a rate reduction On one hand emphasized by Powell in Congressional hearings Wednesday and Thursday and seconded by the influential chief of the New York Fed and Fed Governor Lael Brainard global trade and economic risks have put a dent in investment inflation is well below the Fed s 2 target and the U S expansion may need a shot in the arm But as they polled businesses in their districts Atlanta Federal Reserve Bank President Raphael Bostic and Richmond Federal Reserve Bank President Thomas Barkin saw an economy still humming and no clear need for the Fed to ease monetary policy I am not seeing the storm clouds actually generate a storm yet said Bostic who described himself as skeptical of the need to cut interest rates right now With very few exceptions businesses are telling me the economy is performing as strong as it was They are not seeing weaknesses in consumer engagement And they are not materially changing their plans I ve been out in the last couple weeks and I m talking to business people Barkin said on Thursday They are not yet leaning back They are not cutting jobs They are not cutting investments that have already been underway But they are cautious They haven t stopped they ve just slowed More detail about on the ground business sentiment may come next week when the Fed releases its latest Beige Book compendium of anecdotal information from the 12 Fed districts Powell has pointed to a number of national surveys as evidence business confidence took a hit recently particularly in May after President Donald Trump threatened to impose tariffs on Mexican imports unless his demands about tougher immigration enforcement were met The tariffs were not levied but it was a bit of a confidence shock Powell told the Senate Banking Committee In Albany New York Thursday New York Fed President John Williams NYSE WMB added his voice in support of a rate cut citing uncertainties around trade and global growth and soft inflation The arguments for adding policy accommodation have strengthened over time Brainard in a separate appearance in Scranton Pennsylvania piled on Taking into account the downside risks at a time when inflation is on the soft side would argue for softening the expected path of monetary policy according to basic principles of risk management she told a community banking group Neither Barkin nor Bostic have a vote this year on the Fed s rate setting committee But they will participate in the debate when the Fed meets in three weeks in a session widely expected to reduce the Fed s overnight target interest rate by at least a quarter of a percentage point Investors expect that cut with near 100 certainty Powell in appearances on Capitol Hill this week bolstered expectations such a cut is coming and focused on the need to protect the United States against fallout from a weak global economy Neither Barkin nor Bostic ruled out supporting a rate cut which according to minutes of the Fed s June meeting has drawn support for a variety of different reasons both the global tensions Powell has focused upon as well as weak inflation and a sense that the Fed had unintentionally set policy too tight with its four interest rate increases last year At least a couple regional Fed bank presidents do support a rate cut including St Louis Fed Bank President James Bullard and Minneapolis Fed President Neel Kashkari who on Thursday said he is advocating the stronger medicine of a half percent rate cut Both men say a rate cut is needed to boost inflation expectations But other regional bank presidents have in recent days said they were struggling to justify lower rates at a time when unemployment is near a historic low at 3 7 and job growth continues apace Bostic said that even recent weak inflation data may not be as worrisome as it might seem With the Fed s current preferred measure of inflation running at 1 6 below the 2 target some policymakers argue the central bank needs to do more or risk losing public trust that it takes the target seriously If the public comes to believe that a persistent downside miss to the 2 goal means the FOMC is not committed to that goal then there is a problem Bostic said But he added that his analysis of inflation expectations based on surveys of professional forecasters and business executives left him unconvinced that expectations are slipping In addition less noisy measures of actual inflation which strip out the most volatile terms indicate that right now we are very close to our 2 price stability mandate
This story has been refiled to add dropped word in headline |
WMB | Serena keeps calm and carries on in pursuit of number 24 | By Martyn Herman LONDON Reuters There were no intimidating roars of c mon few fist pumps and the volume was turned down on the grunting that often accompanies her matches as Serena Williams NYSE WMB marched into her 11th Wimbledon singles final on Thursday Perhaps the imperious American did not need to amp it up against out matched Czech Barbora Strycova in a 6 1 6 2 trouncing on a sunny Centre Court It was that easy Maybe she is saving the growl for the final against tenacious Romanian former world number one Simona Halep when for the third time she will stand one win away from matching Margaret Court s 24 Grand Slams singles titles But then again perhaps not The 37 year old has appeared relaxed and stress free throughout the fortnight in which she has elevated her status as the queen of Wimbledon to greater heights amongst British fans by partnering home hero Andy Murray in the mixed doubles There have been a few anxious moments along the way a couple of dropped sets but for the most part it has been a smooth ride for Williams who has settled into the groove that has earned her seven Wimbledon singles titles The serve is functioning like clockwork the booming forehand looks potent and her movement is as good as fluid as at any time since she returned to the Tour last March having given birth to daughter Olympia in 2017 The pressure will ramp up in the next 24 hours especially after falling short in her last two Grand Slam finals here last year against Angelique Kerber and then infamously in New York where Serena lost her cool in defeat by Naomi Osaka But Williams who will become the oldest woman in the professional era to contest a Grand Slam final on Saturday is taking it all in her stride Looking back to even be in those two finals last year was unbelievable the 37 year old told reporters Now I m in a different place Like I just am more calm Instead of having nothing to lose I feel like I have things to lose but I also have nothing to lose It s like I m in the middle I m in a different place because I wasn t really playing a month ago at all So it s all kind of coming together I m not getting over pumped but at the same time not getting under wound I have to be in that right space MEDIA OBSESSION Williams also said the number 24 is becoming an obsession for the media who talk of little else I actually didn t think about it since it s really not about 24 or 23 or 25 It s really just about going out there and giving my best effort no matter what she said No matter what I do I will always have a great career Williams has served 45 aces on her way to the final and won three quarters of points on her first serve Ominously for Halep who has lost nine of her 10 previous matches against Williams the American 11th seed says there is more to come from her weapon of choice I don t know if I ve had my best serves this tournament I ve had some big ones said Williams whose fastest delivery so far stands at 122mph Two weeks ago in the tournament I was like oh my God I forgot about my serve
It was kind of back It felt good |
WMB | Long road back to singles competition says Murray | Reuters Former world number one Andy Murray has said it could take up to a year for him to regain the strength in his hip needed for a return to singles action
The 32 year old claimed the doubles title with Feliciano Lopez at Queen s Club on his return to competitive tennis late last month after undergoing career saving hip resurfacing surgery in January
The Scot lost in the second round of the men s doubles at Wimbledon with Pierre Hugues Herbert and in the third round of mixed doubles with Serena Williams NYSE WMB but said there was still a long way to go before a return to singles competition
During a hip resurfacing operation a lot of muscles are severed and stitched back up so it takes a lot of time and needs hard physical work to recover properly Murray wrote in his column for the BBC
That strength is not going to come back in just three or four months it could take nine or 12 months
I need to get those muscles back to a certain level before I can go on a singles court and try to play best of five sets otherwise I could do damage if the strength isn t there
The three times Grand Slam winner said he would focus on physical conditioning to improve the strength in his hip over the next four to six weeks
I m happy to be pain free and want to get my hip as good as it can be Once it is strong again I can get back to competing Murray added |
WMB | Williams say Kubica safe for 2019 will fight to retain Russell | By Alan Baldwin
SILVERSTONE England Reuters Williams NYSE WMB are determined to keep British Formula One rookie George Russell for the long term and have no plans to replace Polish driver Robert Kubica this season deputy principal Claire Williams said at the British Grand Prix
Addressing rumors swirling around the former champions who have fallen far from their glorious past Williams also dismissed speculation the team could switch from Mercedes to Renault PA RENA engines
We haven t had any conversations about George potentially leaving the team in the short term because he s on a long term contract with us she told reporters
Personally I feel he is world champion material and why would I want to lose George from our team I would do everything in my power to keep George Russell at Williams
My ambition is that one day we would be able to provide George with a car where he can start competing at the top of the midfield and then hopefully for podiums added Williams George is a big part of Williams future
Russell last year s Formula Two champion has a contract with Formula One champions Mercedes who supply Williams with engines as well as their own factory team and Racing Point
Both Mercedes the team of five times champion Lewis Hamilton and Racing Point could potentially have vacancies at the end of the year
Williams winners of nine constructors titles between 1980 and 1997 are the only team yet to score a point in nine races this season
Their car lacks downforce and is routinely lapped in races with Kubica making a comeback this season after a near fatal rally crash in 2011 and Russell usually racing only against each other
We are almost getting the mickey taken out of us with our performance but it s a longer term project for the team Russell said on Thursday
Williams said there would be no decision about the 2020 driver lineup until much later in the year
Our relationship with Robert is as strong as it was he s doing what he needs to do she said
As far as I m concerned there are no frustrations certainly from our side I m sure he has a level of frustration because he doesn t have the equipment that he would like at the moment
There is no thought about replacing Robert at all during this season Absolutely not
Williams said the team hoped to conclude a new partnership with Mercedes for 2021 and beyond
She would not be drawn on reports that former McLaren and Ferrari NYSE RACE head of engineering Pat Fry was in line to replace the now departed Paddy Lowe at Williams
We are in a position to look at our structure on the engineering side and decide what s the best option she said If that means bringing in a new TD technical director then we will do so but we are still in the evaluation process |
WMB | Asian shares veer between gains and losses before key China data | By Ritvik Carvalho LONDON Reuters World shares came within a whisker of posting their first weekly loss since May on Friday and the dollar was down for a third day running as even stronger than expected U S inflation failed to shake bets on Federal Reserve interest rate cuts European shares ticked higher after a run of modest falls this week and as investors also digested an end of week blizzard of Chinese data The pan European STOXX 600 index STOXX was up 0 2 by midday in London MSCI s All Country World Index which tracks shares in 47 countries was flat on the day and close to breaking a 5 week streak of gains E mini futures for the S P 500 index were up 0 2 Data out of China showed that Beijing s exports fell in June as the United States ramped up trade pressure while imports shrank more than expected pointing to further strains on the world s second largest economy China trade imports and exports The export data was really weak and it s one signal that the trade war has started to bite Chinese exporters and that companies are starting to re route their supply chains said Stefan Koopman senior market economist at Rabobank in Utrecht Netherlands European markets are waiting for a cue on what is happening between the United States and China on trade The data comes after a string of disappointing economic reports from around the globe which showed that the global economy suffered from a protracted U S China trade war that forced major central banks to take a more accommodative stance China is also due to release second quarter GDP figures on Monday which are expected to show the world s second largest economy slowing to its weakest pace in at least 27 years Euro zone industrial production rising more than expected in May offsetting declines in the past two months and defying gloomy forecasts caused by prolonged trade tensions The positive reading could undermine European Central Bank policymakers who favor more stimulus to counter weak growth and low inflation in the euro zone although economists warn the improvement may only be temporary ECB policymakers gathering last month agreed on the need to be ready to provide more stimulus to the euro zone economy in an environment of heightened uncertainty official minutes of the meeting showed on Thursday In Asia MSCI s broadest index of Asia Pacific shares outside Japan was down 0 2 Against a basket of currencies the dollar was lower for a third straight day down 0 1 A stronger than expected reading of failed to shake convictions that the Federal Reserve will start cutting interest rates at a policy meeting later this month The core U S consumer price index excluding food and energy rose 0 3 in June the largest increase since January 2018 data on Thursday showed The reading pushed U S Treasury yields higher but money markets still indicated one rate cut at the end of July and a cumulative 64 basis points in cuts by the end of 2019 Comments by Chicago Fed President Charles Evans scheduled later on Friday and New York Fed President John Williams NYSE WMB on Monday will provide a chance to gauge how dovish the central bank is said Masafumi Yamamoto chief forex strategist at Mizuho Securities If these Fed officials are not as dovish as Powell and if the New York Fed s manufacturing survey on Monday proves stronger than forecast they could show that the dollar weakening in response to Powell s congressional testimony was overdone Elsewhere in currencies the euro EUR EBS got a boost from a selloff in the German bond market rising 0 1 to 1 1270 Safe haven German government bonds were set for their biggest weekly selloff in nearly one and a half years as signs of economic strength in the United States and parts of Europe suggested fears of a downturn may be overdone Oil prices hovered near six week highs and were on track for a weekly gain as U S oil producers in the Gulf of Mexico cut more than half their output because of a tropical storm and as tensions continued to simmer in the Middle East Global benchmark Brent crude gained 0 24 to 66 68 per barrel U S West Texas Intermediate WTI crude was up 0 03 to 60 22 a barrel Gold prices dulled by the stronger than expected U S consumer inflation data regained their shine thanks to renewed trade worries and rate cut expectations Spot gold last traded up 0 3 at 1 407 61 per ounce
Shanghai nickel prices recorded their strongest weekly gain since June 2018 as investors bet on the potential demand for the metal in the electric vehicle EV battery sector |
WMB | Serena and Halep chase milestones in Wimbledon final | By Pritha Sarkar
LONDON Reuters Serena Williams NYSE WMB no longer wants to obsess about elusive Grand Slam number 24 and Simona Halep is desperate to win Wimbledon more than to stop the American reaching that milestone but there will be no place for either to hide in Saturday s final
No matter who wins the title decider on Centre Court the one thing for certain is that it will be a historic occasion
The 37 year old Williams is chasing an eighth All England Club singles crown which would see her match Australian Margaret Court s all time record of 24 major singles titles
National pride will be at stake for Halep as she bids to become the first Romanian to win a singles title at the spiritual home of grasscourt tennis
Halep said if she dwelt on Williams records over the past 21 years it might be game over before she stepped on court for a contest compatriot and gymnastics great Nadia Comaneci said would be watched by every Romanian alive on the planet
I will focus on myself I m not thinking about her record Her records are huge already It s nothing about that It s just a tennis match big challenge a great match So I will try just to give my best said Halep who has lost just one set so far
A quick study of their rivalry would also suggest Williams will probably be the one holding aloft the Venus Rosewater dish considering she has won nine of their previous 10 meetings
The 27 year old Halep s only victory over Williams was almost five years ago while the American has won all three of their Grand Slam clashes including at Wimbledon in 2011
So which memory from those tussles will Williams rely on as she gets ready for what could be one of the most memorable days in the history of women s tennis
BIGGEST KEY
The biggest key with our matches is the 6 0 6 2 loss that I had I never forgot it said the 11th seed who is also bidding to become the first mother to triumph at Wimbledon since Australian Evonne Goolagong beat American Chris Evert in 1980
She played unbelievable That makes me know that she can get there again So I have to be better than that
There s so many impressive things about her Obviously her tenacity her ability to find power Can t underestimate her She s like a little powerhouse I feel like she s back She wants to prove that she can do it again
Halep will also take heart from their battle at this year s Australian Open being a close one and the fact that she has more than just an A game in her repertoire
I have a better game these days I can play everywhere against anyone When I go on court I know how to change some things when other things don t work very well said the 2018 French Open champion
Now I believe that I have my chance to win against her I respect a lot what she has done and what she s doing But I feel mentally stronger facing her
A Plan B or even Plan C could come in handy for Halep as Williams was at her devastating best in a 59 minute destruction of unseeded Czech Barbora Strycova in the semi finals
Moving as smoothly and striking the ball as crisply and as powerfully as at any time in her career the American has so far unleashed 45 aces and won 83 percent of her service games
Playing mixed doubles with Andy Murray albeit in a losing cause this week has also helped her to sharpen her volleys an ominous sight for anyone on the opposite side of the net
Williams has already had two failed attempts in finals to win that 24th major after contesting last year s Wimbledon and U S Open showpiece matches and regardless of what she says everyone knows the American wants that record
I just trained and I trained and I trained to get physically more fit So I m definitely at a different place said Williams
It s really not about 24 or 23 or 25 It s really just about going out there and giving my best effort no matter what No matter what I do I will always have a great career |
BMY | Agios Reports Favorable Phase II PK Deficiency Study Data | Agios Pharmaceuticals Inc NASDAQ AGIO announced encouraging initial data from an ongoing open label phase II study DRIVE PK on one of its pipeline candidates AG 348 for the treatment of patients suffering from pyruvate kinase PK deficiency Data were presented at the Congress of the European Hematology Association
The study is being conducted to evaluate the safety and efficacy of AG 348 in adult transfusion independent patients with PK deficiency Results showed that AG 348 achieved proof of concept with nine of 18 total patients nine of 13 patients with at least one missense mutation witnessing rapid robust and sustained hemoglobin increases of 1 0 g dL as of the data cut off Mar 27 2016 In patients who had such hemoglobin increases the mean maximum hemoglobin increase was 3 4 g dL and ranged from 2 3 g dL to 4 9 g dL
Moreover pharmacokinetics were favorable and consistent with those observed in healthy volunteers On the safety front AG 348 was found to be well tolerated with none of the patients discontinuing treatment early and the majority of adverse events were mild to moderate Grade 1 2 and temporary
On the back of the favorable phase II study results the company plans to move the candidate into late stage development Per the company s press release PK deficiency is a rare debilitating congenital anemia Currently there is no approved therapy to treat the underlying cause of PK deficiency
We note that late last week the company s shares took a beating when it reported initial data from a phase I integrated single ascending dose and multiple ascending dose study on its another PK deficiency candidate AG 519 in healthy volunteers Results showed that one patient who received AG 519 experienced a low blood platelet count Grade 2 thrombocytopenia The study is presently ongoing to collect additional clinical safety pharmacokinetic and pharmacodynamics data
Agios is a Zacks Rank 3 Hold stock Some better ranked stocks in the health care sector include Retrophin Inc NASDAQ RTRX Bristol Myers Squibb Company NYSE BMY and Pfizer Inc NYSE PFE All three stocks carry a Zacks Rank 1 Strong Buy |
BMY | Forget Growth Focus On Earnings Beat With These 4 Stocks | Equity investors hold their breath before an earnings release This is because earnings supposedly determine the company s financial health No wonder solid earnings growth speaks about business well being but there is another metric which works better in determining the future direction of stock price i e positive earnings surprise or earnings beat Let s tell you why it is so important
What is Earnings Beat
Investors always try to position themselves ahead of time and look for stocks that are likely to come up with a stellar performance After much brainstorming Wall Street analysts project earnings of companies These estimates act as investment leads
A positive earnings surprise or earnings beat is typically the case when actual or reported earnings come in above the consensus estimate Historically if a company s earnings manage to beat market expectations its stock surges post release
Why Earnings Beat is Superior to Earnings Growth
A 20 earnings rise though apparently looks good doesn t tell you everything about the company s performance This might represent a decelerating earnings growth momentum over the years or quarters raising questions over the company s fundamentals
Also seasonal fluctuations come into the play sometimes If a company s Q1 is seasonally weak and Q4 is strong then it is likely to report a sequential earnings decline In such cases growth rates are misleading while judging the true health of a company
On the other hand analysts put together their insights and a company s guidance when giving an earnings estimate Thus outperforming that estimate is almost equivalent to beating the company s own expectation as well as market perception Of course this gives you a clear picture of the company s bottom line And if the margin of earnings surprise is big it typically drives the stock higher right after the release
How to Find Stocks that Can Beat
Now since it is difficult to predict if a company will beat or miss in the upcoming earnings season investors can check the earnings surprise history An impressive track in this regard generally acts as a catalyst in sending a stock higher It indicates the company s ability to surpass estimates And investors generally believe that the company will have the same trick up its sleeve or in other words is smart enough to beat on earnings in its next release
The Winning Strategy
In order to shortlist stocks that are likely to come up with an earnings surprise we chose the following as our primary screening parameters
Last EPS Surprise greater than or equal to 10 Stocks delivering positive surprise in the last quarter tend to surprise again
Average EPS Surprise in the last four quarters greater than 20 We lifted the bar for outperformance slight higher by setting the average EPS surprise for the last four quarters at 20
Average EPS Surprise in the last two quarters greater than 20 This points to a more consistent surprise history and makes the case for another surprise even stronger
In addition we place a few other criteria that push up the chance of a surprise
Zacks Rank equal to 1 Only companies with a Strong Buy rating can get through
greater than zero A stock needs to have both a positive Earnings ESP and a Zacks Rank of 1 2 or 3 for an earnings beat to happen as per our proven model
In order to zero in on those that have long term growth potential and high trading liquidity we have added the following parameters too
Next 3 5 Years Estimated EPS Growth Per Year greater than 10 Solid expected earnings growth exhibits the stock s long term growth prospects
Average 20 day Volume greater than 100 000 High trading volume implies that the stocks have adequate liquidity
Just these few criteria narrows down the universe from over 7 700 stocks to around six
Here are four of the six stocks that passed the screen
Tallgrass Energy GP LP NYSE TEGP The partnership is a contributor of crude transportation services in Wyoming and adjoining areas It has a VGM score of A and expected EPS growth rate of 90 6 for this year
PharMerica Corporation NYSE PMC This is an institutional pharmacy services company that sports a VGM score of A The company s estimated earnings growth rate for this year is 31 9
Dave Buster s Entertainment Inc NASDAQ PLAY The company with a VGM score of A owns and operates dining and entertainment venues Its estimated earnings growth rate for this year is 29 21
Bristol Myers Squibb Company NYSE BMY The company with a VGM score of F makes markets and sells biopharmaceutical products globally Its estimated earnings growth rate for this year is 29 5
You can get the rest of the stocks on this list by signing up now for your 2 week free trial to the Research Wizard and start using this screen in your own trading Further you can also create your own strategies and test them first before taking the investment plunge
The Research Wizard is a great place to begin It s easy to use Everything is in plain language And it s very intuitive Start your Research Wizard trial today And the next time you read an economic report open up the Research Wizard plug your finds in and see what gems come out
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BMY | Marinus Stock Down On Dismal Phase III Data On Ganaxolone | Shares of Marinus Pharmaceuticals Inc NASDAQ MRNS plunged 69 7 after the company announced disappointing top line results from a phase III study on ganaxolone for the treatment of adults with drug resistant focal onset seizures Data from the study revealed that ganaxolone failed to demonstrate a statistically significant difference when compared with placebo Consequently the study did not meet the primary endpoint of a percent change in the 28 day seizure frequency from baseline The safety profile of ganaxolone was however reportedly consistent with the previously conducted studies The candidate was safe and generally well tolerated Marinus said that it plans to discontinue the development of ganaxolone in adult focal onset seizures Instead the company now plans to focus on evaluating the candidate in other indications such as status epilepticus and pediatric orphan indications Marinus is developing ganaxolone in three different dose forms intravenous IV capsule and liquid The candidate is currently being evaluated in two phase II proof of concept studies for the treatment of PCDH19 epilepsy in the pediatric population and for the treatment of Fragile X syndrome Top line data from both the studies are expected shortly Meanwhile the company expects to initiate a phase I study on the candidate for the treatment of status epilepticus in 2016 Ganaxolone IV was granted Orphan Drug designation by the FDA in Apr 2016 for the treatment of status epilepticus The decision to stop evaluating ganaxolone for adult focal onset seizures is a huge setback for Marinus as the company is highly dependent on ganaxolone for growth Positive data from the study would have enabled the company to file regulatory application and gear up for the launch of its first drug in the market Going ahead we expect investor focus to remain on further details pertaining to the development of ganaxolone in other indications Marinus currently carries a Zacks Rank 3 Hold Some better ranked stocks in the health care sector are Bristol Myers Squibb Company NYSE BMY ANI Pharmaceuticals Inc NASDAQ ANIP and Pfizer Inc NYSE PFE each sporting a Zacks Rank 1 Strong Buy Want the latest recommendations from Zacks Investment Research Today you can download 7 Best Stocks for the Next 30 Days |
BMY | Revance s Lead Candidate Fails In Phase III Crow s Feet Study | Revance Therapeutics Inc NASDAQ RVNC reported disappointing news that its lead pipeline candidate daxibotulinumtoxinA topical gel RT001 failed to meet the co primary and other endpoints in a phase III study REALISE 1 We expect investors to react negatively to the news
The randomized double blind parallel group placebo controlled study was conducted to evaluate the safety and efficacy of the candidate for the treatment of patients suffering from moderate to severe lateral canthal lines popularly known as crow s feet
Based on unfavorable study results Revance has decided to discontinue the development of the candidate for the treatment of crow s feet Also the company plans to stop the development of RT001 for the treatment of axillary hyperhidrosis
Meanwhile Revance intends to focus its efforts and financial resources on the development of an injectable formulation of daxibotulinumtoxinA RT002 based on positive six month phase II active comparator study BELMONT results for the treatment of glabellar frown lines that were presented in Mar 2016 The company intends to initiate a phase III program on RT002 injectable for this indication in the second half of 2016
In addition enrollment is currently underway in cohort 2 of a phase II dose escalating study on RT002 injectable for the treatment of cervical dystonia The company expects interim data from this study in the second half of 2016
Revance noted in its press release that it now anticipates its cash and investments to fund its operations into the second quarter of 2018 The company had cash and investments of 236 6 million at the end of Mar 2016
We are disappointed with the late stage pipeline setback pertaining to RT001 topical at Revance We expect investor focus to remain on the company s progress with RT002 injectable
Revance is a Zacks Rank 3 Hold stock Some better ranked stocks in the health care sector include Retrophin Inc NASDAQ RTRX Bristol Myers Squibb Company NYSE BMY and Pfizer Inc NYSE PFE All three stocks carry a Zacks Rank 1 Strong Buy |
BMY | Don t Make It Complicated Own Drug Stocks | Don t make it complicated The Large Cap Pharma Industry usually looks like a solid investor niche Place a few of your stock picking bets here
Here s the latest top down data which shows what I mean In mid June the 15 company strong industry has a Zacks Industry Rank of 44 out of 265 that s the top 17 In recent weeks covering analysts made 10 positive earnings estimate revisions and just 5 negative revisions to large cap drug stocks Broad top down tailwinds like this I see them nearly every time I look into the pharma industry
Furthermore each time I write up the investor report the Health Care sector lands in the top 3 or 4 attractive spots out of the 10 S P500 sectors No other S P 500 sector is as consistently ranked so favorably
Finally the portfolio I run at Zacks the always attempts to have an overweight position in Health Care Lots of these drug companies are based outside the USA for tax purposes Many base operations in Ireland where the corporate profit tax rates are favorable Due to patent protection cash flows are strong and positive on successful drug stocks
As an investor not a trader there are 3 good fundamental reasons to own a drug stock
1 Aging demographics in advanced countries like the USA
Final demand growth is everything behind the sustainability of industry revenue growth If there is no rain and sun there will be no green grass The basic ingredients for rising drug demand the frailties that accompany aging are going to be there for the next 2 decades
2 Drug stocks can pay a healthy dividend
Two of the 3 stocks I list below offer dividends of 3 7 and 2 07 annually When the U S 10 year Treasury trades at record lows that adds a fixed income incentive to these stocks
3 Bigger pharma companies in the space buy smaller companies all the time
That is more often than not how the large cap drug companies grow There is a real chance to score a sizeable merger stock premium when you hold the right shares of an acquired smaller drug company The final stock I picked is a smaller though not too small drug growth stock based in Denmark
3 major Pharma stocks the Zacks Rank system identified for you
Pfizer PFE This 210 billion market cap monster drug company gets a Zacks 1 Rank Strong Buy and a Zacks VGM score of C The Zacks Value is C and the Zacks Growth is C The PEG ratio is high at 2 67 here This is a well bid stock
They report again on July 26th The Zacks Consensus estimate is for 2 46 a share in 2016 and 2 66 a share in 2017 In the last 60 days there have been 9 positive EPS revisions and no negative revisions The company has met or barely beat on quarterly EPS reports the last 4 times at bat with an average surprise of 3 7
Hospira Warner Lamber Upjohn Parke Davis and more are rolled up into this M A built drug conglomerate The stock offers a 3 40 dividend
Pfizer Inc NYSE PFE is a research based global pharmaceutical company The Company s diversified global healthcare portfolio includes human and animal biologic and small molecule medicines and vaccines as well as nutritional products and consumer healthcare products Pfizer s Animal Health business unit discovers develops and sells products for the prevention and treatment of diseases in livestock and companion animals
Pfizer Inc is headquartered in New York City NY
Bristol Myers Squibb BMY This 120 billion large cap pharma stock gets a Zacks 1 Rank Strong Buy and has a Zacks VGM score of D The Zacks Value score of D and Growth score of F shows that this stock like all big pharma plays is already well bid However the PEG ratio is only 1 30 Anything below 2 is OK on a forward look incorporating growth into the valuation
They report again on July 28th The Zacks Consensus estimate is for 2 60 a share in 2016 and 3 33 a share in 2017 In the last 60 days there have been 12 positive EPS revisions and no negative revisions on this stock The last 4 quarterly reports have produced 4 positive surprises averaging a nice 28 each time The stock offers a 2 09 dividend
Bristol Myers Squibb Company NYSE BMY is a global leader in the research and development of innovative lifesaving and life enhancing treatments for heart disease high blood pressure stroke diabetes cancer HIV AIDS and other infectious diseases depression schizophrenia and other mental disorders pain and other conditions
Bristol Myers Squibb is headquartered in New York City NY
H Lundbeck HLUYY This is a 7 billion market cap pharma company It holds a Zacks 1 Rank Strong Buy and has a Zacks VGM score of D The Zacks Value score is F and the Growth score is A That shows you this stock is very well bid Only buy this one on a pullback down the road somewhere
They report on June 15th As a European stock the analyst coverage is very light The one analyst in our system thinks EPS will be 0 95 this year and a 2 03 whopper next year This smaller growth stock predictably offers no dividend It prefers to use its cash to fund its strong growth
H Lundbeck A S is an international pharmaceutical company engaged in the research and development production marketing and sale of pharmaceuticals across the world Its products are targeted at disorders like depression and anxiety schizophrenia insomnia Huntington s epilepsies Alzheimer s and Parkinson s diseases The Company is involved in the development of new and improved drugs for the treatment of psychiatric and neurological disorders
H Lundbeck A S is headquartered in Copenhagen Denmark |
WMB | Why Williams Companies Inc The WMB Is Poised To Beat Earnings Estimates Again | Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report Williams Companies Inc The NYSE WMB which belongs to the Zacks Oil and Gas Production and Pipelines industry could be a great candidate to consider
This pipeline operator has an established record of topping earnings estimates especially when looking at the previous two reports The company boasts an average surprise for the past two quarters of 19 79
For the last reported quarter Williams Companies Inc The came out with earnings of 0 24 per share versus the Zacks Consensus Estimate of 0 18 per share representing a surprise of 33 33 For the previous quarter the company was expected to post earnings of 0 16 per share and it actually produced earnings of 0 17 per share delivering a surprise of 6 25
Price and EPS Surprise
Thanks in part to this history there has been a favorable change in earnings estimates for Williams Companies Inc The lately In fact the Zacks Earnings ESP Expected Surprise Prediction for the stock is positive which is a great indicator of an earnings beat particularly when combined with its solid Zacks Rank
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank 3 Hold or better produce a positive surprise nearly 70 of the time In other words if you have 10 stocks with this combination the number of stocks that beat the consensus estimate could be as high as seven
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change The idea here is that analysts revising their estimates right before an earnings release have the latest information which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier
Williams Companies Inc The currently has an Earnings ESP of 11 45 which suggests that analysts have recently become bullish on the company s earnings prospects This positive Earnings ESP when combined with the stock s Zacks Rank 3 Hold indicates that another beat is possibly around the corner We expect the company s next earnings report to be released on February 13 2019
When the Earnings ESP comes up negative investors should note that this will reduce the predictive power of the metric But a negative value is not indicative of a stock s earnings miss
Many companies end up beating the consensus EPS estimate but that may not be the sole basis for their stocks moving higher On the other hand some stocks may hold their ground even if they end up missing the consensus estimate
Because of this it s really important to check a company s Earnings ESP ahead of its quarterly release to increase the odds of success Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they ve reported |
WMB | RPC RES To Report Q4 Earnings Disappointment In The Cards | RPC Inc NYSE RES is set to release fourth quarter 2018 financial results before the opening bell on Jan 23 2019 The company failed to beat the Zacks Consensus Estimate for earnings in each of the last four reported quarters recording a negative earnings surprise of 20 2 Let s see how things are shaping up for this announcement RPC Inc Price and EPS Surprise
Which Way are Estimates Trending Let s take a look at estimate revisions to get a clear picture of what analysts are thinking about the company before the earnings release The Zacks Consensus Estimate for revenues of the company is pegged at 387 4 million for the to be reported quarter reflecting a decrease of 9 3 from the year ago quarter The Zacks Consensus Estimate of 10 cents for the fourth quarter has seen one upward but two downward revisions by firms in the past 30 days It reflects a year over year decline of about 44 4 Factors Likely to Influence the Upcoming Quarterly Results The intensified competition in the domestic market has left limited rooms for the oilfield services companies to charge premium prices for the services being offered In fact RPC has no immediate intention for ordering more pressure pumping equipment reflecting the possibility of slowdown of demand for pressure pumping services in the shale plays Moreover drillers and explorers are redirecting their focus from the crowded Permian to other plays In the Permian Basin there is a dearth of pipeline capacity for transporting oil to Gulf Coast export facilities major refinery terminals and principal hubs like Cushing Since RPC gets the largest oilfield services contracts from the Permian constrained drilling activities in the basin can affect its results Let s see where these factors can lead the Q4 results to Technical Services Segment The Zacks Consensus Estimate for revenues from the segment is pegged at 373 million down from 411 million in the year ago period and 421 3 million in the last reported quarter Moreover the Zacks Consensus Estimate for operating profit from the segment is pegged at 29 5 million down from 56 2 million and 67 million on a sequential and year over year basis respectively Support Services Segment The Zacks Consensus Estimate for the segment s revenues is pegged at 17 9 million up from 16 3 million in the year ago period but down from 18 7 million in the last reported quarter Moreover the Zacks Consensus Estimate for the segment s operating profit is pegged at 1 2 million up from operating loss of 1 6 million in the year ago quarter but down from 1 8 million profit sequentially Earnings WhispersOur proven model does not conclusively show that RPC is likely to beat the Zacks Consensus Estimate in the quarter to be reported This is because a stock needs to have both a positive and a Zacks Rank 1 Strong Buy 2 Buy or 3 Hold for this to happen Unfortunately this is not the case here as elaborated below Earnings ESP Earnings ESP represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate RPC s Earnings ESP is pegged at 5 06 You can uncover the best stocks to buy or sell before they re reported with our Zacks Rank RPC s Zacks Rank 4 Sell further decreases the predictive power of ESP making us less confident of an earnings surprise call As it is we caution against Sell rated stocks Zacks Ranks 4 and 5 going into the earnings announcement especially when the company is seeing negative estimate revisions Energy Stocks With Favorable CombinationHere are some companies from the energy space which according to our model have the right combination of elements to post an earnings beat in their respective quarters to be reported Tulsa OK based The Williams Companies Inc NYSE WMB has a Zacks Rank 2 and an Earnings ESP of 9 09 The company will report fourth quarter earnings on Feb 13 You can see Leawood KS based Tallgrass Energy LP NYSE TGE holds a Zacks Rank 2 and has an Earnings ESP of 2 44 The company is scheduled to report fourth quarter earnings on Jan 31 Houston TX based Targa Resources Corp NYSE TRGP carries a Zacks Rank 3 and has an Earnings ESP of 38 46 The company is anticipated to report quarterly results on Feb 21 Looking for Stocks with Skyrocketing Upside Zacks has just released a Special Report on the booming investment opportunities of legal marijuana Ignited by new referendums and legislation this industry is expected to blast from an already robust 6 7 billion to 20 2 billion in 2021 Early investors stand to make a killing but you have to be ready to act and know just where to look |
WMB | Danske Daily The End Of The Trade War May Be Near | Market movers
Watch out for any headlines on US China trade talks after The Wall Street Journal s story that the US administration is considering reduce tariffs on Chinese imports
UK retail sales for December are set to provide an insight into whether consumer spending in the UK stayed robust at the end of 2018 despite the Brexit turmoil
Despite the sharp fall in ISM manufacturing US industrial production probably registered another increase in December according to consensus In light of the ongoing US government shutdown it will also be interesting to see whether consumer confidence from the University of Michigan for January shows the first signs of any negative repercussions The weekly consumer confidence index from Bloomberg has moved lower recently
New York Fed President John Williams NYSE WMB is also scheduled to speak in the afternoon and we will again look out in particular for any hints on the future strategy around the balance sheet
There are no Scandi market movers today but in Sweden Social Democratic leader Stefan L fven will probably be approved as Prime Minister today four months after the election took place
Selected market news
Market sentiment was initially lifted by headlines that the US administration is considering rolling back some of the tariffs on Chinese imports but the rally was short lived as the US Treasury denied the story soon after In addition the story was probably not as interesting as the headlines suggested as the story states that the proposal comes from Treasury Secretary Steven Mnuchin a China dove while the US Trade Representative Robert Lighthizer China hawk opposes the idea Nonetheless we still interpret the story as another sign that a US China trade deal is moving closer and markets probably do as well S P 500 ended 0 8 higher and Asian markets are also up this morning Oil and yields are too
In the UK it was announced yesterday that the voting on Prime Minister Theresa May s motion on her Brexit plan B and amendments to the motion will take place on 29 January the motion will still be presented on Monday A poll from YouGov has shown that support for the UK remaining in the EU is increasing According to the poll 56 now want to remain in the EU versus 44 leave which is the highest gap since the EU referendum Polls like these increase the pressure on pro EU politicians to call for a second EU referendum
In Sweden HOX index Valueguard home prices came in at 0 8 in December with single family home prices leading the decrease Sweden s residential market remains shaky and right now it is a buyer s market
Scandi markets
There are no Scandi market movers today but in Sweden Social Democratic leader Stefan L fven will probably be approved as Prime Minister today four months after the election took place
Fixed income markets
Core EU and semi core yields rose modestly yesterday while the periphery gained modestly Hence the spread between the periphery and core EU yields continues to tighten This was driven partly by solid demand at yesterday s Spanish tap auction which was well received by the market If there is progress in the trade talks between China and the US it would be positive for the equity markets as well as risky assets and thus core yields would be likely to rise
Greece S P France Fitch and Austria Fitch are up for review We expect France and Austria to be on hold but there is a chance that Greece could be upgraded as S P has Greece on positive outlook This would bring the rating back to the BB level and increase the possibility of a syndicated deal in Greek government bonds
If we look at the Bund spread it is finally tightening although it is a modest tightening Looking at the Bund Schatz and Bund Bobl boxes they continue to be at an elevated level where the Bund spread is too expensive relative to the Schatz and Bobl spreads We recommend a tighter box spread in both Bund Schatz and Bund Bobl spread boxes Yesterday we published New 10Y DGB DGB 0 5 11 29 ahead of the new 10Y Danish government bond auction taking place next week We expect it to be priced some 11 12bp above DBR 02 29 We expect the Debt Office to sell up to DKK5bn at the auction on 23 January
FX markets
Headlines that the US is mulling over lifting tariffs on China roiled FX markets late yesterday The USD AUD NZD NOK SEK and CAD among others jumped while JPY weakened on the news with the news seeing USD JPY rise above 1 09
The rebound in oil prices looks to be taking a breather with the price on Brent crude stabilising in the USD59 61 bbl range this week We note that yesterday s bullish comments from Russia that it will accelerate output cuts did not catch the markets attention As a result we took profit on our short NZD CAD top trade yesterday This yielded a 1 8 return and was mainly a way to position for a higher oil price See Danske Bank FX Top Trades 2019 We take profit on short NZD CAD 17 January We still look for a higher oil price over the course of 2019 |
WMB | USDJPY Surged On Growing Optimism About US China Trade Truce Dow Jumped | USDJPY is currently trading around 109 78 in the US session Friday surged by almost 0 50 on growing optimism about US China trade truce Dow jumped over 350 points and the risk on mood got a boost further on Friday after a report that China has extended an olive branch to the US and offered a 6 year import boost over more than 1T
As per reports Chinese officials made the offer during negotiations in Beijing earlier in January China would increase its annual import of US goods by a combined value of over 1 trillion China pegged its proposal to buy more US goods through 2024 to President Trump s hopes of being re elected in 2020 The US had a trade deficit of 323B with China in 2018 This deal would aim to reduce that annual trade difference to Nil by 2024 China would ramp up imports of US products by almost 4 times to 600B by 2024 from 155B currently
The report also suggested that the US trade negotiators said to be skeptical of China s offer and want a faster reduction in the trade gap The US officials asked China to do even better demanding the imbalance be cleared in the next two years
The China offer reports followed by another report late Thursday that Trump may dial back his China tariffs to hasten trade deals and calm markets turmoil Dow jumped over 250 points on the China tariffs roll back reports but soon slips after the US Treasury denial and closed around 100 points down from the session high
As per the report The US officials are debating ratcheting back tariffs on Chinese imports as a way to calm markets and give Beijing an incentive to make deeper concessions in a trade battle that has rattled global economies The idea of lifting some or all tariffs was proposed by Treasury Secretary Steven Mnuchin in a series of strategy meetings according to people close to internal deliberations They say the aim is to advance trade talks and win China s support for longer term reforms
The report also suggested that Mnuchin suggests the new gambit rollback of tariffs to break the stalemate while the USTR a known China hawk has resisted easing tariffs The report also claimed that the proposal has not reached Trump till now
The report said Mnuchin faces resistance from the USTR Lighthizer who is concerned that any concession could be seen as a sign of weakness The debate is occurring as trade officials try to figure out the best way to try concessions from China It hasn t yet reached President Trump and the outcome of the discussions isn t possible to forecast In past China discussions Trump has sided with Lighthizer on tariffs rather than Mnuchin But this time the president has made clear he wants a deal and is pressing Lighthizer to deliver one
The report also clarified the US Treasury position A Treasury spokesman said bargaining positions are all at the discussion stage and that neither Secretary Mnuchin nor Ambassador Lighthizer has made any recommendations to anyone with respect to tariffs or other parts of the negotiation with China Talks are nowhere near completion
After the above report a Treasury spokesman denied the contents of the report and said Secretary Mnuchin USTR s Lighthizer have not made any recommendations with respect to China tariffs or negotiations
Meanwhile another news reporter tweeted soon after the report and subsequent Treasury denial I just spoke briefly to Treasury Secretary Steven Mnuchin in the West Wing He appeared to be heading into the Oval Office I asked him about the WSJ story that he has proposed lifting tariffs on China He said he is not going to make any statements at this time
A Treasury Department spokesperson working with the trade team said Neither Secretary Mnuchin nor Ambassador Lighthizer has made any recommendations to anyone with respect to tariffs or other parts of the negotiation with China This is an ongoing process with the Chinese that is nowhere near completion
A senior administration official who participated in a trade meeting with the president on Wednesday later said that there is no discussion of lifting tariffs now The official also said President Donald Trump has no interest in making decisions now it would put him in a weaker position
Overall the whole story is not fake news at all but a simple effort of Trial balloon on the part of Trump Co to test market reaction and a strong signal to China ahead of the Jan 30 31 trade meeting There is no smoke without fire as China s recent Yuan action shows the story may be correct
The recent trade data is showing that China s growing import has not benefited the US for Trump s bellicose trade policies whereas China s exports to the US grew by above 11 For China there are many alternatives for US products and services whereas for the US alternatives for Chinese goods are quite limited Thus despite Trump tariffs of generalized 10 China s exports to the US are growing but imports are suffering for China s retaliatory tariffs or simply the refusal of China to buy US goods Thus Trump is under pressure from domestic exporters like Agri Soybeans and is compelled to blink first After Trump Xi meets at G20 at December end China clearly said that it could import more US goods as per demand from Chinese consumers
In economic data the US industrial production for December edged down to 0 3 from prior 0 4 revised downwards from 0 6 but was higher than the expectations of 0 2 The UM consumer sentiment for January slumped to 90 7 from prior 98 3 and lower than the expectations of 97 0 The UM consumer expectations for January slumped 78 3 from prior 87 0 lower than expectations of 86 0
Technical view USDJPY
Technically whatever may be the narrative USDJPY now has to sustain over 109 30 for a further rally to 110 00 110 50 111 10 111 35 and 111 55 112 10 112 85 113 70 in the near term under bullish case scenario
On the flip side sustaining below 109 05 USDJPY may fall to 108 50 108 00 107 80 107 15 and 106 60 105 60 104 60 103 70 in the near term under bear case scenario
USD JPY
In Fed talks Williams NYSE WMB the so called neutral guru said The Fed needs prudence patience and good judgment data dependence Europe and Asia lead to less optimism about world growth and I don t see worrying signs of inflation pressure We will reassess balance sheet policy if conditions change but high growth would warrant somewhat higher rates The tailwinds have lost gust rates closer to normal The US government shutdown geopolitical uncertainties are emerging headwinds The US GDP growth about 2 0 2 5 in 2019 vs 3 0 in 2018 and the motto of data dependence more relevant than ever The US labor market is strong
Williams further added The uncertainty in the economy has risen dramatically and the yield curve has flattened quite a bit The fiscal stimulus basically working how we d expected and the tax cut will probably boost investment and productivity But the Fed relies on data that are impacted by the shutdown and we re just not going to get 3 growth each year as fiscal stimulus wanes The slowing growth in China is a concern
Williams said The inflation pressures remain mild yet the economic tailwinds that boosted the economy in 2019 have lost their gust including due to an ongoing partial shutdown of the US government If those pressures cause the economic outlook to deteriorate the Fed could pause rate hikes or adjust the path of balance sheet normalization
Williams said The approach we need is one of prudence patience and good judgment the motto of data dependence is more relevant than ever If growth continues to come in well above sustainable levels somewhat higher interest rates may well be called for at some point However if conditions turn out to be less robust then I will adjust my policy views accordingly I still expect a strong and healthy economy that will grow by 2 to 2 5 this year That s a step down from 2018 but still consistent with a healthy growing economy
Williams added that the Fed also needs to keep an eye on how its balance sheet tapering program is going and his review of Fed action will include the path of balance sheet normalization Williams said Data dependence applies to all that we do And as always if the outlook deteriorates in a material way we stand prepared to deploy all our policy tools as appropriate in support of the economy
Williams said the challenge facing policymakers in recent years is that inflation has been too low not too high suggesting that rate hikes used to slow price pressures may not be warranted Williams said he expects inflation to be right at the Fed s 2 target with no signs the economy has pressure building in it that would push prices higher despite a strong labor market and rising wages but there is increasing anxiety in the markets about economic growth this year
Overall Williams is very close to Powell s inner circle and his comments are in line with the recent deluge of Fed talks including that of Powell indicating the Fed is on the way for pause in Q1 2019 March but may hike in Q2 2019 June with another pause in Q3 2019 and may again hike in Q4 2019 for the mean neutral rate of 3 00
Pivot 109 3 Support 108 5 107 8 107 15 Resistance 110 1 110 5 111 35 Scenario 1 STRONG ABOVE 109 30 AND SUSTAINING ABOVE 110 10 111 35 USDJPY MAY FURTHER SURGE TO 111 55 112 10 112 85 113 70 IN THE NEAR TERM Scenario 2 WEAK BELOW 109 05 AND SUSTAINING BELOW 108 50 107 15 USDJPY MAY FURTHER PLUNGE TO 106 60 105 60 104 60 103 70 IN THE NEAR TERM Comment SHORT TERM RANGE 104 60 106 60 110 10 113 70 |
WMB | Euro Drifting On Lack Of Key Indicators | EUR USD is showing little movement in the Friday session Currently the pair is trading at 1 1404 up 0 14 on the day In economic news the eurozone current account surplus narrowed to EUR 20 3 billion down from EUR 23 0 billion This was well off the estimate of EUR 24 1 billion In the U S today s key event is UoM Consumer Sentiment The indicator has slowed over the past three months and the downward trend is expected to continue with an estimate of 97 0 points
The eurozone economy has softened in recent months although the economy grew in 2018 The U S China trade war has taken a bite out of economic activity and the eurozone export and manufacturing sectors have slowed Germany the largest economy in the bloc has also been affected and growth for 2019 has been revised downwards If the trade war continues or the U S economy slows down in 2019 the eurozone could lapse into a recession Bottom line The ECB which finally terminated its massive stimulus program last month is unlikely to raise rates before the fourth quarter of 2019 Just a few months ago analysts were predicting a rate hike in the third quarter This means that the euro will have to contend against the dollar without the benefit of higher rates which would make the euro more attractive to investors
With the eurozone growth down there are plenty of headaches for ECB policymakers ECB President Mario Draghi shared some of his concerns on Tuesday at a plenary session on the ECB annual report Draghi highlighted Brexit and the U S China trade war as significant concerns and noted that eurozone economic conditions have been weaker than expected adding that the eurozone was undergoing a slowdown but was not heading into recession The ECB holds its next policy meeting on January 24 with no change in monetary policy expected
EUR USD Fundamentals
Friday January 18
4 00 Eurozone Current Account Estimate 24 1B Actual 20 3B
9 05 US FOMC Member Williams NYSE WMB Speaks
9 15 US Capacity Utilization Rate Estimate 78 6
9 15 US Industrial Production Estimate 0 2
10 00 US Preliminary UoM Consumer Sentiment Estimate 97 0
10 00 US Preliminary UoM Inflation Expectations
Key events are in bold
EUR USD for Friday January 18 2019
EUR USD for January 18 at 5 20 EST
Open 1 1389 High 1 1409 Low 1 1386 Close 1 1404
EUR USD Technical
EUR USD has shown limited movement in the Asian and European sessions
1 1300 is providing support
1 1434 is the next resistance line
Current range 1 1300 to 1 1434
Further levels in both directions
Below 1 1300 1 1212 and 1 1120
Above 1 1434 1 1553 1 1685 and 1 1803
Original post |
WMB | USD CAD Canadian Dollar Steady Ahead Of CPI | USD CAD has posted small gains in the Friday session recovering the losses from Thursday Currently the pair is trading at 1 3265 down 0 12 on the day On the release front Canada releases CPI which is expected to post its third decline of 0 4 in the past four months In the U S today s key event is UoM Consumer Sentiment The indicator has slowed over the past three months and the downward trend is expected to continue with an estimate of 97 0 points
Risk appetite remains steady which has been good news for the Canadian dollar The currency has sparkled in January posting gains of 2 7 percent The U S China trade war which is one of the biggest threats to the global economy has triggered a slowdown of the Chinese economy and there are concerns that U S growth will slow if the sides don t resolve the conflict Senior Chinese and U S officials are meeting for another round of trade talks on January 30 and investors remain hopeful that the U S will not impose new tariffs on March 1
The U S government shutdown has meant that the flow of economic data has been reduced This has magnified the importance of the Beige Book which was released on Wednesday The report found that businesses across the country had become less optimistic due to higher interest rates swings in the financial markets and global trade tensions At the same time most of the regional Feds said that growth in their region was modest to moderate The report reiterates the recent dovish stance we are seeing from the Federal Reserve which has sent strong signals to the markets that rate hikes could be on hold for the near future
USD CAD Fundamentals
Friday January 18
8 30 Canadian CPI Estimate 0 4
8 30 Canadian Common CPI Estimate 1 9
8 30 Canadian Median CPI Estimate 1 9
8 30 Canadian Trimmed CPI Estimate 1 9
8 30 Canadian Core CPI
8 30 Canadian Foreign Securities Purchases Estimate 2 05B
9 05 US FOMC Member Williams NYSE WMB Speaks
9 15 US Capacity Utilization Rate Estimate 78 6
9 15 US Industrial Production Estimate 0 2
10 00 US Preliminary UoM Consumer Sentiment Estimate 97 0
10 00 US Preliminary UoM Inflation Expectations
All release times are EST
Key events are in bold
USD CAD for Friday January 18 2019
USD CAD January 18 at 7 50 EST
Open 1 3280 High 1 3284 Low 1 3250 Close 1 3266
USD CAD Technicals
USD CAD showed little movement in the Asian session and has posted small losses in European trade
1 3200 is providing support
1 3290 is the next resistance line
Current range 1 3200 to 1 3290
Further levels in both directions
Below 1 3200 1 3125 and 1 3049
Above 1 3290 1 3383 1 3461 and 1 3552
Original post |
WMB | U S Considers Lifting China Tariffs To Push Trade Deal Through | Index Futures Net Changes and Settlements
Foreign Markets Fair Value and Volume
In Asia 11 out of 11 markets closed higher Shanghai Comp 1 42 Hang Seng 1 25 Nikkei 1 29
In Europe 13 out of 13 markets are trading higher CAC 1 60 DAX 1 77 FTSE 1 60
Fair Value S P 0 17 NASDAQ 9 46 Dow 27 62
Total Volume 1 5mil ESH 430 SPH traded in the pit
Today s Economic Calendar
Today s economic calendar includes John Williams NYSE WMB Speaks 9 05 AM ET Industrial Production 9 15 AM ET Consumer Sentiment 10 00 AM ET and the Baker Hughes Rig Count 1 00 PM ET
S P 500 Futures ES Shake Bake
On yesterday s cash open the S P 500 futures printed 2605 75 made a low of day a tick beneath and never looked back The ES pushed up to a first hour high at 2618 75 then after a 7 5 handle pullback the markets reloaded and began to grind higher through the late morning making a high of 2623 00
The ES went on to make a midday low of 2617 75 and once again buyers came in to push the benchmark futures up to 2625 75 As news hit that some people in the Trump administration were suggesting a lift on the China tariffs the ES rallied hard up to 2645 50 before coming back down to 2625 25 The futures continued to climb into the close settling the day at 2635 75 up 22 50 handles or 0 86
Disclaimer Trading Futures Options on Futures and retail off exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors You should carefully consider whether trading is suitable for you in light of your circumstances knowledge and financial resources Any decision to purchase or sell as a result of the opinions expressed in the forum will be the full responsibility of the person s authorizing such transaction s BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE S AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS
Original post |
WMB | Gold up Awaiting Fed Chief s Testimony | Investing com One down two to go with Jay Powell
Gold prices edged higher despite the Fed Chair not making any references to interest rates in a speech he delivered on Tuesday It was after all a conference on stress tests sponsored by the Fed s Boston regional bank and perhaps not the best venue to discuss quantitative easing
That leaves the central bank chief to his all important two day testimony to Congress beginning tomorrow to shed some light on how dovish he and his FOMC team might be at their July 30 31 monthly meeting
Spot gold reflective of trades in bullion traded at 1 398 46 per ounce by 2 15 PM ET 18 15 GMT up 3 20 or 0 2 on the day The session high was 1 400 04
Gold futures for August delivery traded on the Comex division of the New York Mercantile Exchange settled Tuesday s trade just 50 cents higher at 1 400 50 per ounce
As Powell speaks we ll see if we get any insight into longer term Fed thoughts as well as a July rate cut confirmation J J Kinahan Chief Market Strategist at TD Ameritrade said in a Forbes commentary
The futures market still puts 100 odds on a rate cut of at least 25 basis points at the next meeting later this month Kinahan added
Yet some market participants have scaled back expectations that a July cut is almost a certainty after a 224 000 strong jobs growth in June signaled the economy may be too strong for an easing The forecast jobs expansion was only 160 000
Other Fed bankers lined up to speak this week are New York Fed President John Williams NYSE WMB St Louis Fed president James Bullard Fed Atlanta President Raphael Bostic Fed Vice Chair for Supervision Randal Quarles Richmond Fed President Thomas Barkin and Minneapolis Fed President Neel Kashkari
Of these the most closely watched would be Bullard who was the only dissenting voice at the June Fed meeting when the central bank decided to hold rates The St Louis Fed president is one of the more dovish members of the central bank s policy setting Federal Market Open Committee or FOMC
While Powell did not touch on monetary policy in his Tuesday speech he will almost certainly clarify his current outlook when he testifies to Congress on Wednesday and Thursday
Powell could either reinforce market expectations for a rate cut or rein them in Investing com analyst Jesse Cohen said The level of certainty that the Fed will cut rates in July is far from justified so I d be looking for Powell to push back against the dovish message that markets have priced in
The U S Commodity Futures Trading Commission s latest Commitments of Traders report released on Monday a day later than usual due to the July 4 holiday and covering data through July 2 showed that long positions in gold had reached their highest level since Sept 2017 ahead of the U S jobs report
Elsewhere the World Gold Council said on Tuesday that holdings in global gold backed ETFs and similar products registered their largest monthly increase in seven years in June as investors priced in a new round of easing from central banks The inflows helped drive gold to a six year high of just under 1 440 |
WMB | Serena thrills as Dream Team turn mean machine at Wimbledon | By Toby Davis LONDON Reuters Wimbledon s Centre Court is the property of the All England Club but on Tuesday it belonged to Serena Williams NYSE WMB After reaching her 37th Grand Slam singles semi final the American returned with Britain s Andy Murray in a fist pumping high fiving forehand slapping frenzy as the mixed doubles Dream Team put on a show for the thousands of fans who had hung around into the evening to watch SerAndy or Murrena as the multiple Grand Slam winning duo have been dubbed eased into the third round with a 7 5 6 3 win over America s Raquel Atawo and France s Fabrice Martin Having beaten compatriot Alison Riske in three sets in the singles quarter finals earlier in the day Williams looked like she wanted to be anywhere but out on court again Not in a sulky sort of way Far from it She was in a fired up frenzy to get off court as fast as possible as the evening drew in smashing winners left and right roaring fist pumping and pirouetting in celebration as each one flew off her racket I am having a blast she said Obviously it has been a great atmosphere playing out there with Andy so it is great Any doubt over whether Williams would be in the mood for the mixed doubles was dispelled in the first game as she smashed a volley straight at Martin apologising profusely after the ball cannoned off his body Playing with home favourite Murray a twice Wimbledon singles champion means Williams had the Centre Court crowd firmly in her corner and they loudly roared their approval throughout as she fired a string of superb return winners I do not expect that to ever happen again I m convinced that was once in a lifetime I just never hit returns like that in my life said Williams The result of the match was never really in doubt even if the first set was tight but this partnership was never meant to be just about results Both players are using the mixed doubles as an opportunity to play matches in an effort to return from injuries with Williams feeling her way back after a niggling knee problem and Murray feeling his way after hip surgery Williams focus will return to her main task on Thursday when the 11th seeded American faces unseeded Czech Barbora Strycova in the semi finals as she bids to claim a record equalling 24th Grand Slam singles title Murray however is playing the long game having made no immediate decision about when he will be ready to battle again with the likes of Novak Djokovic Rafa Nadal and Roger Federer A truer test of their doubles credentials will come in the next round when they face top seeds Brazilian Bruno Soares and American Nicole Melichar
Soares won Grand Slam doubles titles with Andy s older brother Jamie at the U S and Australian Opens in 2016 |
WMB | Brain beats brawn as Strycova ends Konta s hopes | By Martyn Herman LONDON Reuters Johanna Konta played almost perfect tennis for the opening five games of her Wimbledon quarter final against unseeded Czech Barbora Strycova on an expectant Centre Court on Tuesday Her power game was locked and loaded and there appeared little Strycova could do to prevent the Briton steaming into a semi final showdown with seven time champion Serena Williams NYSE WMB An hour or so later however face red thoughts scrambled and racket arm flailing away like a robot gone rogue the 19th seed faced match point after an astonishing collapse What happened next was not a surprise Konta over cooked a backhand for her 34th unforced error and the 33 year old Strycova put her hands to her face perhaps in shock that she was into her first Grand Slam semi final at the 53rd attempt Her 7 6 5 6 1 triumph means she is the oldest first time Grand Slam singles semi finalist It was always my dream to play good at this tournament Strycova told reporters after completing a memorable day by reaching the doubles quarter finals with Hsieh Su wei It s happening at this age now it s incredible It shows if you believe it it s happening Her victory was one of brains over brawn and a painful lesson once again for Konta that it pays to have something other than Plan A at the business end of majors Strycova ranked three in the world in doubles but no slouch at singles having made the last eight here in 2014 never panicked and rode the early blows as she fell 4 1 behind Heavyweight boxing great Muhammad Ali coined the phrase rope a dope when he beat George Foreman in the infamous Rumble in the Jungle in 1974 having drawn his great rival s sting DESPERATE KONTA It was a similar scenario at the more sedate setting of the All England Club and by the end a desperate Konta so potent early on was swinging and missing with monotonous regularity Plan B should not be beating yourself three time Wimbledon champion John McEnroe remarked on the BBC If you start doing it you must pull back and dig in Against twice Wimbledon champion Petra Kvitova on Monday Konta fought power with power subtlety was not required Less celebrated Czech Strycova has a bag of tricks though and when she began to mix up the pace and spin and change the angle of attack the local favourite failed to respond Two years ago Konta raised hope of a first British women s champion since Virginia Wade s triumph in 1977 only to lose to Venus Williams This defeat a round earlier should hurt more Following the match however just as after her recent French Open semi final defeat by another tricky Czech Marketa Vondrousova she slipped back into the no regrets mantra Every decision I made every thought process every opportunity that I gave myself I have no regrets in doing I did the best that I could she said She gives her opponents every opportunity to not feel great out there I couldn t find an answer for it today GOOD START It had all begun so well Konta pulverised a backhand to save a break point in the opening game then broke with another baseline bomb She even fired down a second serve ace as she moved 3 0 ahead with Strycova looking vulnerable in every rally The change came with the Czech serving at 1 4 though She served and volleyed in the following game and in the next a low sliced return teased an error from Konta as she broke back Every time the British hope erred the crowd ahhhed and it gradually sapped Konta s confidence The tiebreak summed up her display She went 3 1 down with a dreadful volley but responded to lead 5 4 with two sizzling backhands that had the crowd erupting Strycova levelled with a cool volley then a brave second serve forced an error When Konta s next forehand thumped the net the set was over and effectively so was her challenge I was playing a lot of slice She didn t really know what to expect Strycova said
Serena be warned |
WMB | New McLaren contract is smart move for Norris | By Alan Baldwin
DUNSFOLD AERODROME England Reuters Formula One rookie Lando Norris greeted the announcement of his McLaren contract extension on Tuesday by saying he might buy himself a suit And maybe a smart shirt as well
The 19 year old Britain s youngest ever grand prix driver has been impressive in his debut F1 season while remaining remarkably unfazed by it all
He was certainly not about to run wild with the fruits of his success
The only thing I really need to try and buy is a suit I don t have a suit he told Reuters on a track day with the team when asked what he might treat himself to
Just a normal suit And a shirt I don t really have a suit and shirt Sometimes I think I should wear one the teenager added
The only thing I have is a tuxedo which McLaren got I think sometimes maybe I should dress smarter But apart from that there s nothing I have my eyes on
Norris is a youngster completely focused on his racing both real and virtual and with very little time or inclination for anything else
A multi millionaire s son with simple tastes Norris lives in an apartment near the team s Woking factory and has a simulator in his living room
The McLaren sportscar in his garage mostly stays there with a regular Renault PA RENA his more usual runabout His basic wages in the range of 400 000 pounds 498 520 00 a year are likely to remain unchanged
Personally I don t think so much about any of the contract stuff he said of his confirmation alongside Spanish team mate Carlos Sainz for 2020
It s good news that I m going to be here again next year but at the same time it wasn t something I was worried about or pushing for or anything It wasn t like I needed the confidence to be able to drive better
I was having good fun I was relaxed I m not going to act any differently to what I was I wasn t nervous like am I going to be here next year or anything he added
SENSE OF HUMOR
Confidence is not something Norris is short of and nor is a playful sense of humor
He and Spaniard Sainz still only 24 but on his third Formula One team after Toro Rosso and Renault get on remarkably well while Norris has also cultivated a jokey image on social media
Fans have been known to approach him with cartons of milk asking him to autograph them after he opened his fridge and explained his love of the dairy product on social media earning him the nickname Milkman
Silverstone this weekend will be his first British Grand Prix as a Formula One driver and he will be one of three home racers on the grid along with five times champion Lewis Hamilton and Williams NYSE WMB rookie George Russell
Hamilton will get most of the attention but Norris can expect plenty of support as well after a season that he acknowledged had started better than he expected
In Australia in the season opener he qualified eighth and finished 12th Since then he has started as high as fifth in Austria last month and taken a sixth place
I wasn t expecting that he said I didn t expect anything at all I wanted to see how it was going to go I would say it s gone better than I anticipated I m very happy with how I ve done so far
But there s still a lot of progress I need to do and make until I m where I should be |
WMB | Serena returned to tennis to hunt down Slam No 24 says coach | By Toby Davis
LONDON Reuters Patrick Mouratoglou has steered Serena Williams NYSE WMB to some of her greatest achievements but the coach has never seen the American work as hard as she has to battle back from injury and illness in pursuit of a record equalling 24th Grand Slam singles title
Williams will face unseeded late bloomer Barbora Strycova on Thursday for a place in the Wimbledon final having begun the tournament short on match practice and with question marks hanging over her prospects
The 37 year old had barely played since the Australian Open in January after a niggling knee injury limited her court time and the rust was all too visible as she began her campaign at the All England Club
Yet after suppressing tigerish American Alison Riske on Tuesday in the last eight only Czech Strycova the oldest first time Grand Slam singles semi finalist at 33 stands between Williams and another shot at Margaret Court s record 24 slams
It is a number that has dominated Williams late career especially after she returned to the sport following the birth of her daughter in 2017 when she suffered a pulmonary embolism that left her bedridden for six weeks
Twenty four will mean that she will equal the record of all time and that s why she came back to playing tennis after having a baby and so many medical complications The effort she has put in I have never seen something like this Mouratoglou told reporters on Wednesday
You have no idea how much she worked how hard she worked to come back to that level and she came back for that record so it will probably mean a lot if she makes it
Mouratoglou started coaching Williams in 2012 and has guided the American to her fifth sixth and seventh Wimbledon titles an Olympic gold medal three further U S Opens titles and two more French and Australian Opens
In the run up to Wimbledon however injuries and illness had limited Williams to just seven matches since the Australian Open in January
According to Mouratoglou Williams has been playing without any pain for three weeks and is feeling so much lighter in spirit an ominous warning to Strycova who has played the American on three occasions and lost every time
She is in a good place at the moment she is happy has a house her husband is here her daughter is here and she is pain free he said
In the last match you could see that she has been able to raise her level when it was necessary which is one of her trademarks and this is back so everything is positive |
WMB | Strycova has no fear ahead of Serena clash | By Martyn Herman LONDON Reuters Unseeded Czech Barbora Strycova believes she has the weapons to upset seven times champion Serena Williams NYSE WMB in Thursday s Wimbledon semi final and will walk on Centre Court with no fear Conventional wisdom suggests the canny 33 year old through to her first Grand Slam singles semi final at the 53rd attempt will be overpowered by the record hunting American It looked like that was about to happen on Tuesday when she fell 4 1 behind in the face of a withering Johanna Konta onslaught but Strycova soaked it all up and eventually drove the home favorite to distraction with her superior craft Williams represents a far stiffer challenge not just physically but mentally but Strycova will trust the game that won her so many plaudits against Konta and in an earlier victory at Wimbledon against big serving Dutchwoman Kiki Bertens Realizing she was never going to win a slug fest she cleverly changed the pace bamboozled the Briton with her skidding double fisted backhand sliced returns wicked drop shots and stealthy net raids By the end a panic ridden Konta appeared to have no idea what to do and was left yanking at her visor in frustration Looking ahead to the semi final when Williams will start a huge favorite Strycova said I don t have fear I just will go there Thursday and I will try to play my game Of course I don t have such power like Serena but I have another weapons I will try to use them as much as I can I will enjoy I have really at this point nothing to lose So I am not really scared to play her I just really will try my best and I will fight as much as I can Williams has twice fallen at the final hurdle as she tries to move level with Margaret Court s record 24 Grand Slam singles titles Having got to within three wins of equaling it again it is only to be expected that a little anxiety will creep in DEXTEROUS GAME Strycova has the dexterous game to take advantage and drag Williams into the awkward rallies in which she looks at her most uncomfortable I don t know many players that can play like that her coach Lucas Dloughy told reporters I never saw a player so talented like Barbora touch for the ball covering the court She is playing so good on grass Always loves to be in Wimbledon she loves this tournament In reaching the quarter finals here for the second time Strycova served and volleyed 54 times more than the other seven players put together I was doing this since I am very young I love to play volleys I was playing at home against the wall she said When I m confident I like to play a lot of balls from the net It s my territory there Seven times Grand Slam champion and Eurosport analyst Mats Wilander believes her variety gives her hope even if she has lost all six sets she has played against the 37 year old I wouldn t say this match is a formality he said You can try and overpower her but it won t be one way traffic
Barbora will force Serena to try many things and move away from Plan A She might serve and volley loop the forehand play drop shots Serena will face many scenarios during the match |
WMB | Murray Williams ousted by top seeds in mixed doubles | The mixed doubles duo of Andy Murray and Serena Williams NYSE WMB were knocked out of Wimbledon on Wednesday with the team of Brazilian Bruno Soares and American Nicole Melicharas beating them 6 3 4 6 6 2 in the third round
Williams is due to play in the women s singles semifinals for the 12th time on Thursday Murray who recently returned after recovering from surgery on his right hip is not playing singles
The unseeded partners saved only one break in four opportunities as they bowed out in one hour 30 minutes
They did rally in the second set to earn their only service break and force a third set against Soares and Melicharas
Murray and Williams made a last minute decision to team up in the mixed doubles competition
I think it s a great thing for the fans and for sport Serena said of mixed doubles
But at the end of the day so many of us are obviously focused on doing the best that we can in singles It just kind of worked out for me in particular because I was literally looking for some match play So was Andy It just kind of worked out
Murray in 2013 became the first Brit to win the men s singles title since Fred Perry in 1936 Williams is a seven time singles champ at the All England Club
Field Level Media |
WMB | Haas F1 title sponsor Rich Energy terminates contract | By Alan Baldwin LONDON Reuters Rich Energy a drink brand that recently lost a copyright infringement case over its logo said on Wednesday it had cancelled a title sponsorship of the Haas Formula One team due to poor performance There was no immediate comment from the U S owned team Branding for the energy drink has been prominent on the team s black and gold cars since the start of the season while the company has also made waves with a combative presence on social media We aim to beat redbullracing being behind WilliamsRacing in Austria is unacceptable Rich said on its Twitter feed ahead of this weekend s British Grand Prix at Silverstone The politics and PC attitude in F1 is also inhibiting our business We wish the team well it added Former champions Red Bull Racing are third in the championship and won the Austrian grand prix at the end of last month Ferrari powered Haas are ninth out of the 10 teams albeit only six points behind sixth placed Alfa Romeo Danish driver Kevin Magnussen finished behind George Russell s Williams NYSE WMB at Spielberg after a drive through penalty Williams are last and yet to score a point this year Questions have been asked by the Formula One media about the energy drink brand s finances and statements by company boss William Storey In May Rich lost a court case brought against it by Whyte Bikes for copyright infringement of its stag s head logo which was removed from the Formula One cars Judge Melissa Clarke said in a written judgement that she found Rich Energy boss William Storey and Sean Kelly founder of the digital marketing company Staxoweb Ltd to be poor witnesses He had a tendency to make impressive statements which on further investigation or consideration were not quite what they seemed she said of Storey
The judge cited as an example that when cross examined about a claim to the media in February that 90 million cans had been produced Storey explained that Rich had produced 90 million cans but had not yet filled and sold them |
WMB | Serena powers past Strycova into Wimbledon final | By Martyn Herman LONDON Reuters Mixed doubles with Andy Murray was fun but Serena Williams NYSE WMB got back to the serious business as she powered into her 11th Wimbledon final by overwhelming unseeded Czech Barbora Strycova in a brutal 6 1 6 2 victory on Centre Court on Thursday Clobbering huge serves and forehands the veteran American was always in control as she set up a showdown with Romanian former world number one Simona Halep in Saturday s final The 37 year old will become the oldest woman to contest a Grand Slam final in the professional era and will have another chance to equal Margaret Court s record 24 singles majors having lost in the Wimbledon and U S Open finals last year It s good especially after my year It definitely feels good to be back in the final Williams who has played sparingly this year because knee problems said It s definitely a lot better I just needed some matches I know I m improving and I just needed to feel good and then I can do what I do best which is play tennis Strycova the oldest first time Grand Slam semi finalist at 33 boasts a tricky game that scrambled the mind of Britain s Johanna Konta in the quarter finals But seven times Wimbledon champion Williams still seeking her first title since becoming a mother in 2017 is made of much sterner stuff and simply bulldozed her way through her opponent s lightweight resistance Strycova held for 1 1 in the first set but any notion that a contest would break out disappeared in the blink of an eye as she was overwhelmed by the Williams power to trail 5 1 She had a chance to slow the Williams advance when she got to 0 40 on the 11th seed s serve with the help of a netcord but Williams raised the tempo to reel off five points ending the first set in 27 minutes with a booming ace Strycova bashed down an ace of her own as she held serve at the start of the second set and held firm until 2 2 TEMPORARY LULL It was only a temporary lull in the onslaught Williams was prowling like a hungry tiger and piled on the pressure in Strycova s next service game Having just watched a forehand winner whistle past her Strycova double faulted and fluffed an attempted drop shot to hand over the break of serve The end came quickly Eyes narrowing on the target Williams made it 4 2 with a love service game and broke again for a 5 2 lead Strycova emitting a piercing scream as she wafted a straightforward volley into the tramlines The crowd were willing Strycova to hang in for a little longer and roared their approval when she showed great defensive skills to win the first point as Williams served for the match the 54th ranked Czech raising her arms in salute But Williams who delighted home fans by partnering Murray in the mixed here was in no mood for nonsense She fired down a huge serve on match point and when Strycova clawed it back she stroked away the simplest of forehands to seal her place in the final After tricky moments during the fortnight dropping sets against qualifier Kaja Juvan in round two and compatriot Alison Riske in the quarter finals Williams is in the groove as her biggest test looms I love what I do I wake up every morning and I get to be fit and play sport and play in front of crowds like here at Wimbledon not everyone can do that she said
I love what I do I m still pretty good at what I do and it s always an amazing experience |
WMB | Gold Pushes Well Above 1 400 on Powell s Rate Cut Hint | By Barani Krishnan
Investing com Jay Powell uttered the magic words Will act as appropriate to counter slowing business investments and growing economic uncertainties
The only question now is will the Fed chairman convert those words which he s been uttering for the last month or so into an interest rate rate cut at the central bank s meeting later in the month
Gold investors think the rate cut is surely coming and pushed gold prices forcefully above 1 400 an ounce on Wednesday after Powell s testimony on business and economic conditions to the House Financial Services Committee
Spot gold reflective of trades in bullion traded at 1 413 65 per ounce by 1 13 PM ET 16 35 GMT up 13 15 or 0 9 on the day The session high was 1 414 95
Gold futures for August delivery traded on the Comex division of the New York Mercantile Exchange settled up 12 or 0 9 to 1 412 50
Investors have rushed into gold over the past two months pushing the yellow metal from 1 200 levels to 1 400 as talk of a rate cut came into play A rate cut will weaken the U S dollar and boost gold In fact the Dollar Index which pits the greenback against a basket of currencies fell 0 4 its most in a day since June 21
Powell s testimony came ahead of a key event awaited by gold investors release of the June meeting minutes of the Federal Reserve that would give an insight on why the central bank abstained from a rate cut last month and how different things could be this time
The Fed chief has been under tremendous pressure from President Donald Trump who has all but threatened to fire him if he doesn t authorize a rate cut soon Powell has maintained that he will not be politically cowed and will not resign even if Trump demands it
Powell knows that if he pushes rate cuts expectations out until September then that could trigger a furious response from both Donald Trump and the dollar while stocks could fall further said Fawad Razaqzada analyst on precious metals and currencies at FOREX com in London
Thus he will probably err on the side of caution and offer little in the way of strong hints about policy direction in the upcoming meetings Razaqzada said citing pending consumer inflation figures as another key indicator for Fed action
Business investments across the United States have slowed recently as uncertainties over the economic outlook linger Powell said in prepared testimony to the House Financial Services Committee
Inflation has been running below the Federal Open Market Committee s FOMC symmetric 2 percent objective and crosscurrents such as trade tensions and concerns about global growth have been weighing on economic activity and the outlook he said reiterating the central bank will act as appropriate to sustain the current economic expansion
Investing com s Fed Rate Monitor Tool continutes to suggest a 100 chance the Fed will cut its key federal funds rate from 2 25 2 5 to 2 2 25 in July Powell also said in a recent speech an ounce of prevention is worth more than a pound of cure a hint that the central bank might lean toward a so called insurance cut to head off a potential economic slowdown
Yet some market participants had scaled back expectations that a July cut is almost a certainty after a 224 000 strong jobs growth in June signaled the economy may be too strong for an easing The forecast jobs expansion was only 160 000
Other Fed bankers lined up to speak this week are New York Fed President John Williams NYSE WMB St Louis Fed president James Bullard Fed Atlanta President Raphael Bostic Fed Vice Chair for Supervision Randal Quarles Richmond Fed President Thomas Barkin and Minneapolis Fed President Neel Kashkari
Of these the most closely watched would be Bullard who was the only dissenting voice at the June Fed meeting when the central bank decided to hold rates The St Louis Fed president is one of the more dovish members of the central bank s policy setting Federal Market Open Committee or FOMC |
BMY | AstraZeneca Presents Tagrisso Leptomeningeal Disease Data | AstraZeneca plc NYSE AZN presented clinical and safety data from a phase I study BLOOM on its lung cancer drug Tagrisso osimertinib in patients with leptomeningeal LM disease at the annual meeting of the American Society of Clinical Oncology
Updated results showed that Tagrisso 160 mg once daily demonstrated activity through assessments with MRI imaging intracranial response irrespective of the T790M mutation status of patients Additionally Tagrisso crossed the blood brain barrier The drug resulted in a decline in central nervous system lesions in patients with LM disease in addition to neurological improvement Moreover Tagrisso demonstrated a manageable tolerability profile over a treatment period of up to 11 months
Per the company s press release LM disease is a complication of epidermal growth factor receptor EGFR mutation positive advanced non small cell lung cancer NSCLC where cancer cells spread to the cerebrospinal fluid LM disease affects roughly 5 of patients with NSCLC and nearly 9 of those with EGFRm NSCLC
Considering that the treatment of LM disease is difficult the safety tolerability and activity profile that Tagrisso has demonstrated is promising
We note that Tagrisso 80 mg once daily gained accelerated approval in Nov 2015 for the treatment of patients with metastatic EGFR T790M mutation positive NSCLC as detected by an FDA approved test who have progressed on or after EGFR tyrosine kinase inhibitor therapy It is also approved for the treatment of patients with EGFR T790M mutation positive locally advanced metastatic NSCLC in the EU
Currently Tagrisso is also being evaluated in the adjuvant setting and in the metastatic first line setting including patients with brain metastases as well as in combination with other treatments
AstraZeneca is working on strengthening its oncology product portfolio and has several candidates in its pipeline The company s target is to launch at least six new medicines between 2014 and 2020
AstraZeneca is a Zacks Rank 3 Hold stock Some better ranked stocks in the health care sector include ANI Pharmaceuticals Inc NASDAQ ANIP Retrophin Inc NASDAQ RTRX and Bristol Myers Squibb Company NYSE BMY All three stocks sport a Zacks Rank 1 Strong Buy |
BMY | Teva s Pain Drug Vantrela Recommended For FDA Approval | Teva Pharmaceutical Industries Limited NYSE TEVA received encouraging news with the FDA s Anesthetic and Analgesic Drug Products Advisory Committee and Drug Safety and Risk Management Advisory Committee voting in favor 14 to 3 of an approval of Vantrela ER Teva is looking to get Vantrela approved for the management of pain severe enough to require daily around the clock long term opioid treatment and for which alternative treatment options are inadequate
The advisory committees also backed Vantrela s labeling as an abuse deterrent product by the oral 14 to 3 nasal 14 to 3 and intravenous 16 to 1 routes of abuse subject to approval
Vantrela which is an extended release formulation of hydrocodone bitartrate has been developed utilizing the company s proprietary abuse deterrence technology Teva expects that Vantrela s label upon approval will carry a description regarding the product s abuse deterrent properties that are likely to reduce but not fully prevent abuse of the drug when the tablets are manipulated based on the committees votes
We note that the FDA generally takes the advisory committees recommendation into consideration when reviewing candidates but is not bound by the same With the panels in favor of approving Vantrela we believe chances of gaining FDA approval are high
We note that Pfizer Inc NYSE PFE which is also seeking FDA approval for its pain drug Troxyca ER oxycodone and naltrexone is expected to come up before the advisory committees today
Teva is a Zacks Rank 4 Sell stock Some better ranked stocks in the health care sector include Pfizer Retrophin Inc and Bristol Myers Squibb Company NYSE BMY All three stocks sport a Zacks Rank 1 Strong Buy |
BMY | Theravance Biopharma Signs Licensing Deal With Takeda | Theravance Biopharma Inc NASDAQ TBPH announced that it has entered into a global license development and commercialization agreement with Takeda Pharmaceutical Company Limited OTC TKPYY for its 5 HT4 receptor agonist TD 8954 for the treatment of gastrointestinal motility disorders including enteral feeding intolerance EFI We note that TD 8954 is being developed for the short term use with EFI to achieve early nutritional adequacy in critically ill patients at high nutritional risk Currently Theravance Biopharma has completed evaluating TD 8954 in a study that assessed the safety tolerability and pharmacodynamics of a single dose administered intravenously in comparison to metoclopramide in critically ill patients with EFI Terms of the AgreementUnder the terms of the deal Theravance Biopharma will receive an upfront cash payment of 15 million from Takeda The company is also eligible to receive development and sales milestone payments and double digit royalties on global sales The first 110 million in milestone payments will be related to the development regulatory and commercial launch for EFI or other intravenously dosed indications The transaction is expected to close shortly Our TakeWe believe that Theravance Biopharma s strategic decision to license TD 8954 comes as a big positive as Takeda specializes in manufacturing and commercialization of treatments that improve the health of patients with gastroenterological disorders Being an industry leader the addition of TD 8954 to Takeda s portfolio will drive the continued development of the compound Successful development and commercialization of TD 8954 which has a Fast Track Designation in the U S will help to fulfill the unmet need in the EFI indication Currently EFI is said to affect approximately one million individuals in the U S Both Theravance Biopharma and Takeda currently carry a Zacks Rank 3 Hold A couple of better ranked stocks in the health care sector are Bristol Myers Squibb Company NYSE BMY and Pfizer Inc NYSE PFE both sporting a Zacks Rank 1 Strong Buy Want the latest recommendations from Zacks Investment Research Today you can download 7 Best Stocks for the Next 30 Days |
WMB | Bloodbath In Global Equity Markets Continues | Market movers today
From all of us at Danske Research we would like to wish everybody a merry Christmas and a happy new year Note that there will be no Danske Daily between Christmas and New Year s Eve
Today focus turns to US PCE inflation the Fed s preferred measure on inflation We expect core PCE inflation to stay unchanged at 1 8 y y close to the Fed s inflation target of 2 However it is still below the peak in this cycle of 2 0 y y reached in July The New York Fed s John Williams NYSE WMB is slated to appear on CNBC today at 10 00 ET
US durable goods orders are set to attract attention as this figure is a good indicator of US investment growth After a steady increase throughout most of 2018 investment orders have levelled off in recent months
In emerging markets we are due to get Polish retail sales and unemployment rate numbers For more on emerging markets see Emerging Markets Briefer Buying opportunities set to arise after Q1 19 19 December
In Scandinavia it is time for Swedish retail sales and Norwegian unemployment see overleaf
Selected market news
Asian stocks fell and Japanese equities decreased deeper into a bear market with regional shares on course for the worst week since October The downward move in Asian equities followed US equity markets which had a tough session with the S P 500 declining 1 5 to 2467 its lowest close since late September 2017 The so called market fear gauge the VIX index rose 2 8 points to 28 38 its highest closing level since early February The negative sentiment follows a week when the Fed appeared more hawkish than the market had hoped for holding on to further tightening of monetary policy despite the market volatility for more details see FOMC Review Fed to markets Just a couple of more hikes 20 December
The negative market sentiment was also prompted by renewed US China tensions which flared up after the US Justice Department filed charges overnight that alleged Chinese officials co ordinated a decade long espionage campaign to steal intellectual property and other data from dozens of companies Treasury Secretary Steven Mnuchin said the indictments are a separate track from trade talks which are scheduled to pick up again in January However China nevertheless demanded that the Justice Department withdrew the comments highlighting the continuing tension between the world s top two economies
Meanwhile the lower house of Congress passed funding for Donald Trump s border wall However we expect the proposal to be rejected by the Senate before Friday s midnight deadline increasing the chance of a partial federal government shutdown
To read the entire report Please click on the pdf File Below |
WMB | Partial Government Shutdown | Index Futures Net Changes and Settlements
Foreign Markets Fair Value and Volume
In Asia 7 out of 11 markets closed higher Shanghai Comp 0 43 Hang Seng 0 40 Nikkei 1 11
In Europe 11 out of 13 markets are trading lower CAC 1 14 DAX 0 21 FTSE 0 52
Fair Value S P 1 50 NASDAQ 17 40 Dow 6 13
Total Volume 3 00mil ESH 1 311 SPH traded in the pit
Today s Economic Calendar
Today s economic calendar includes Chicago Fed National Activity Index 8 30 AM ET NYSE Early Close and SIFMA Rec Early Close 2 00 ET
S P 500 Futures These are not our fathers markets
On Friday the S P 500 futures opened the cash session at 2476 50 and traded down to an early morning low at 2470 00 in the first hour Then as the feds Williams NYSE WMB hit the wire making dovish statements the futures rallied sharply up to what would be the high of day at 2508 00 When Williams finished his comments the futures reversed and never looked back as they tanked down to a morning low of 2435 25
After a 23 75 handle rally the afternoon again saw weakness as the ES pulled back down to a new low eventually trading down to 2409 25 in the final hour and then rallied to print 2417 50 at 3 00 before settling the day at 2412 25 down 74 75 handles or 2 85
It was an astonishing day and it s been an astonishing last few months The ES is down 20 from its contract highs and despite the Christmas holiday as being one of the most cheerful times of the year the investing community is in a state of shock The headlines read that the Nasdaq has fallen into bear market territory and give or take a percentage point or two so has the ES
Lets just say it like it is the overall price action of the ES is some of the worst on record I know people want to compare the current selloff to something like 1987 or 2000 but it ain t happening After all the S P index arb I did for UBS in the S P s and all the big orders I executed all the big ups all the big downs the current sustained jump in volatility and the size of the ranges is not something we have ever seen The funny thing is the Dow being down 800 is the new normal
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WMB | Macro Events Will Anchor Euro And Dollar Into New Year | The 1 1475 1 1550 level is an important area for the euro Many bulls see a rounded bottom being carved and a break above it would be embraced as a confirmation The lower end corresponds to the 100 day moving average Such a bottom pattern if confirmed would project toward 1 1800 the high in H2 18 On the downside the low from H2 18 was near 1 1200 This is just above a key 61 8 retracement of the January 2017 February 2018 rally A convincing break of it would signal a new leg down in the euro that could potentially carry it into the 1 05 1 08 range
The bull case for the euro rests on three premises The bad news has been discounted fiscal policy will be less of a drag and US problems are mounting The first is questionable The Spanish and Germany November inflation reported before the weekend fell more than expected largely reflecting the drop in oil prices And this is after the November PMIs disappointed as well The continuing slowdown of the Chinese economy is also bound to hit the export oriented economies and especially Germany On the other hand the market has already pushed out what was thought to be a late 2019 hike into H2 2020
What else can the market do It can price in a cut rather than a hike In effect that is what the market has done in the US From pricing in a couple of hikes next year the market appears to have mostly discounted a Fed cut in 2020 Of course at first and perhaps with some guidance by the ECB the market can push out the rate hike further into 2020 and then beyond However if the economy continues to soften more action may be required There is already some speculation that another Targeted Long Term Repo Operation TLTRO a three year low rate loan to banks for lending to non financial businesses and households The problem though may not be the supply of funds but demand
The question may become what should it do Resume asset purchases or cut interest rates where the deposit rate already sits at minus 40 bp It may depend on the timing of the issue and the personnel on the ECB Executive Board but we suspect the ECB would be more inclined to deal with the unintended consequences of a more negative deposit rate than the renew the asset purchases especially so quickly after winding them down
It is fair that fiscal policy may be less of a drag on growth in the euro area next year but it should not be exaggerated We are talking tenths of percentage points and even then it needs to be cyclically adjusted While France and Italy appear set to get by with slightly larger budget deficits than planned a year ago ahead of the weekend the Senate rejected Spain s minority government s 1 8 projected increase in spending forcing it to live within the 1 3 goal of the previous government Germany and Italy contracted in Q3 The French composite PMI fell below the 50 boom bust level in December Softer growth can push up deficit GDP ratios through the automatic stabilizers e g unemployment compensation and also denominator growth can slow or reverse Any growth disappointments will also be reflected in larger fiscal shortfalls
The most compelling argument for the euro is that the situation in the US is deteriorating The federal government limps into the new year with a partial shutdown because Congress controlling the purse strings is not earmarking as much money as the President wants that can be used to build a wall on the border with Mexico The Mueller investigation proceeds and is expected to come to a head in a few months Q2 The agreement not to escalate the tariffs between the US and China has a March 1 deadline Of course it can be changed and that is the point Uncertainty In April the exemptions granted on Iranian oil sales expire This too will produce uncertainty and disruption
The President s fiscal policy ran counter to his trade policy The extent of the current account deterioration may have been masked by the tax incentivized repatriation of foreign earnings This suggests some catch up next year And at the same time as the external deficit is growing so too is the budget deficit In order to attract foreign investment the US has to offer higher rates a lower dollar or more likely some combination
Indeed the dollar looks vulnerable as US yields remain soft despite the tentative break in the equity market s slide and the easing of the sharp downside momentum in oil The US 10 year yield reached a ten month low before the weekend The premium over Germany so much for the so called exorbitant privilege has fallen 30 basis point since early November and at a little below 250 bp it is the least since August The US is paying the smallest premium over Germany to borrow two year money in seven months The 312 bp premium compares with a peak on November 8 around 355 bp We often find direction is more important than the level for impact on the exchange rate
Robust economic data could help ease recession worries but with the government shutdown may take some time to sort out Even though the Labor Department has been funded during past shutdowns the nonfarm payroll report has been delayed Economists expect a rebound after a soft November and average hourly earnings to hover around 3 A sense of investor both foreign and domestic demand at the US Treasury auctions will be important to monitor at the start of the New Year
Comments by Fed officials and in particular the leadership Powell Clarida and Williams NYSE WMB Williams may be helpful for investors While we accept that the signaling impact of the asset purchases was more important than the increased central bank balance sheet we understand the confusion that the Fed helped sow about it At the same time we recognize that it is awkward and arguably counterproductive for the Fed to admit that it is a confidence game That said we suspect Fed officials can say a bit more about why reducing its balance sheet is not tantamount to tightening policy
On trade the President cannot appease both investors and his political base which ostensibly shares his penchant for protecting American industry China continues to make concessions but given the divergence between its declaratory and operational policies it will take time to see results And even when if the results would be evident would they be meaningful or sufficiently meaningful to the Administration who comes the closest to demanding regime change to normalize relations
The divergence between the economy and markets may be more apparent than real and the divergence between the Fed and the market will close The threat of escalating trade tensions in 2019 as deals with Japan Europe and China are sought is likely to be a recurring theme
If the euro is going to rally it is hard to see it being driven by good things in Europe The political center is weak and this turns small challenges into crisis The traditional elites in many countries are being challenged This will likely be evident in the new European Parliament and in numerous national elections The incomplete union with a weakening economy and softening inflation amid a change in the guard at the European Commission and European Central Bank with a negative deposit rate means the euro is an awkward alternative to the dollar
It sometimes seems that the US dollar does well in particularly bad times and particularly good times but during the ho hum period investors prefer other currencies Perhaps the euro has an upside down smile frown whereby it does poorly when it is under stress and when the US economy is strong and interest rates are rising Only in those periods in which Europe is doing well and the US is doing poorly does the euro seem to benefit The problem is the US business cycle is longer and flatter e g Great Moderation still intact despite the Great Financial Crisis and Europe typically underperforms |
WMB | Williams Receives FERC Nod To Gulf Connector Expansion | The Williams Companies Inc NYSE WMB recently received green signal from the Federal Energy Regulatory Commission FERC of the United States to commence full service on the Gulf Connector Expansion Project This provided the company the opportunity to ship 475 000 dekatherm gas per day Dt d through the Transco pipeline system in Texas and Louisiana The project is expected to support Cheniere Energy Inc s NYSE LNG liquified natural gas export terminal at Corpus Christi bay and Freeport LNG s terminal at Brazoria County TX Both Cheniere and Freeport have plans to bring their LNG export terminals in Texas online in a bid to offer commercial services within 18 months The approval from the FERC marks a significant landmark for Williams as midstream asset developers in the United States are trying hard to connect their existing networks to the expanding natural gas export markets The demand for liquified natural gas is expected to grow rapidly in 2019 as the search for cleaner energy sources is still on Williams expects the project to benefit producers in the United States where natural gas is produced in abundance Recent expansion work including the installation of three new compressor stations in Wharton Victoria and San Patricio counties boosted shipping capacity along the Transco pipeline Price PerformanceTulsa OK based Williams has lost 30 6 in the past year compared with 20 7 fall of the it belongs to Zacks Rank Stocks to ConsiderWilliams currently has a Zacks Rank 3 Hold If you are interested in the energy sector you can opt for some better ranked stocks as given below Houston TX based Shell LON RDSa Midstream Partners L P NYSE SHLX is a midstream energy company For 2019 its bottom line which has witnessed three upside revisions over the past 60 days is expected to grow 27 7 year over year The company currently sports a Zacks Rank 1 Strong Buy You can see Calgary Canada based Gran Tierra Energy Inc NYSE GTE is an international oil and gas exploration and production company Its bottom line for 2018 is expected to surge more than 300 year over year The company delivered a positive average earnings surprise of 24 in the trailing four quarters The stock currently has a Zacks Rank 2 Buy The Hottest Tech Mega Trend of All Last year it generated 8 billion in global revenues By 2020 it s predicted to blast through the roof to 47 billion Famed investor Mark Cuban says it will produce the world s first trillionaires but that should still leave plenty of money for regular investors who make the right trades early |
WMB | Riske rewarded in Barty battle at Wimbledon | By Toby Davis LONDON Reuters In knocking Australia s world number one Ash Barty out of Wimbledon Alison Riske showed that when your dad is a former secret service agent and FBI investigator you learn how to turn the screw on even the most intimidating opponents Riske created one of the biggest shocks of the tournament with her 3 6 6 2 6 3 victory over French Open champion Barty who was on the sort of run that made losing to a player of the American s lowly 55th ranking appear almost impossible Yet Riske who once described herself as 100 percent paranoid and in a state of fear brought about by her dad s line of work set about ending Barty s 15 match winning streak without a hint of intimidation She lost the first set but dug in for a trench battle out slugging Barty to take the next two and set up a last eight clash with seven times champion Serena Williams NYSE WMB I m so incredibly excited The fact that it s at Wimbledon my favorite Grand Slam the place that I had always dreamed to be in the last eight club they can t kick me out now I m here to stay she said I am just over the moon On paper Riske seemed to have little chance of causing an upset At 29 she had never reached a Grand Slam quarter final and had spent over four hours more on court than Barty in the first week Yet her three previous matches which all went the distance told of a fighting spirit and battle hardened endurance that would not give an inch if she could drag Barty into a dogfight Tough one to swallow but I lost to a better player said Barty She deserves to be in the quarter finals She played a great match today READY FOR A WAR After Barty won the first set the 21st in a row she had taken since her French Open semi final it seemed she might continue a run at Wimbledon that had seen her glide through her opening three matches in three hours losing only 12 games Yet Riske broke in the fourth game of the second set and then again in the eighth as Barty struggled to execute in the face of relentless pressure from the American There was little to separate the players in the third set until the eighth game when Riske hit a ferocious backhand winner to set up a break point and followed that with another off the other flank to bring the finish line in sight She brought up match point on her serve and a fierce contest was brought to a halt when Barty sent a backhand wide leaving Riske to relax and enjoy the moment That is not an emotion she has always been able to experience Riske who once jokingly described her dad as Robert De Niro 100 after the character in the Meet the Parents films said she grew up paranoid about everything Going out she said involved always looking left and right Or you re in a crowded place be alert Where s the closest exit sign if you need to escape She seems in no hurry to leave Wimbledon and will face the 23 times Grand Slam singles champion Williams in the next round
I m ready for a war She s the greatest athlete I think that s ever been on the women s side said Riske It s going to be a huge challenge but I m really looking forward to it |
WMB | Halep ends Gauff s Wimbledon dream | By Mitch Phillips LONDON Reuters Coco Gauff s dream Wimbledon run came to an abrupt end on Monday when the consistency of seventh seed and former world number one Simona Halep proved a step too far for the 15 year old American who went down 6 3 6 3 in only 75 minutes After stunning Venus Williams NYSE WMB then saving two match points en route to beating Polona Hercog last week Gauff was suddenly the hottest ticket in town but she was always going to find it tough against Halep last year s French Open champion and the first top 10 opponent she had ever faced Bidding to become the youngest Wimbledon quarter finalist since fellow 15 year old Jennifer Capriati in 1991 Gauff was by no means overawed keeping the crowd entertained with some crashing backhands and athletic recoveries but there were also far too many simple errors that the American was never going to get away with at this stage of the tournament Halep who had given an indication of her form when dismissing the dangerous Victoria Azarenka in the last round initially struggled including in the third game where she sent down three successive double faults But Gauff was even more inconsistent mixing up some superb shots with some pretty awful ones Halep then began to find her range and quickly realised that she did not need to take too many risks keeping the ball in play accepting that the occasional winner would whistle past her but more often winning the point via a Gauff mistake That was enough to take the first set and the pattern continued with more emphasis in a quickfire second MEDICAL TREATMENT Gauff who needed courtside medical treatment between the sets started to snatch at her shots and became too loose while Halep did what she needed to as the American racked up a total of 45 unforced errors in the match Gauff did save two match points when serving at 5 2 down but this time it was only a temporary reprieve as Halep finished her off in the next game The Romanian will now face China s Shuai Zhang in the quarter finals and with the bottom half of the draw looking wide open Halep has a great chance of going on to make the final for the first time I am really happy I can play in the quarter finals again it s one of my favourite tournaments Halep said I am not comparing myself with last year that was the best because I won the French Open but I want to win every match I play Gauff who came to the tournament via a qualifying competition wildcard and ranked 313 can also expect to be challenging in the second week again in the future and has won a legion of new fans
Your journey is far from over tweeted tennis great Billie Jean King Looking forward to watching your future successes on and off the court Big fan |
WMB | Serena wants Murena mixed doubles team name | By Clare Lovell
LONDON Reuters Serena Williams NYSE WMB is enthusiastic about her high profile mixed doubles partnership with Andy Murray but she is not so sure about their name
After the celebrity pair s first round Wimbledon win over Andreas Mies and Alexa Guarachi last week Murray tweeted Well that was fun SerAndy
But Williams told reporters on Monday she was not sure about SerAndy I like Murena My vote is still for Murena she said
Williams is happy there is so much attention on the partnership at Wimbledon where Murray is a local hero after twice winning the men s title
It s great I definitely have been really enjoying the mixed doubles this pairing Quite frankly it s pretty cool It s pretty awesome
The 37 year old American who is still on course for her 24th Grand Slam singles title after beating Carla Suarez Navarro 6 2 6 2 to reach the quarter finals said she was also pleased she had learned to avoid hitting the ball on the wrong side of the net
She dropped a point against the Spaniard after leaning over to put away a volley
I definitely didn t realize it was a rule said Williams who has been playing Grand Slam tennis for 21 years
I feel like I may have done that before like in doubles so I m glad because I don t want to make that mistake in our Murena doubles match
The celebrity pair meet 14th seeds Fabrice Martin and Raquel Atawo in the mixed doubles second round |
WMB | Nadal rebuffs interrogator who dared to question Centre Court status | By Pritha Sarkar
LONDON Reuters It was a case of Don t you know who I am for Rafael Nadal when a reporter had the temerity to question whether he deserved to be on Wimbledon s Centre Court when women s world number one Ash Barty had been cast off to a smaller outside arena
Manic Monday always causes a scheduling headache for Wimbledon organizers with all 16 fourth round matches in both the men s and women s draw due to take place on day seven of the grasscourt major
However while Novak Djokovic Roger Federer and Nadal have not been away from the main two showcourts throughout these championships Australia s French Open champion Barty found herself relegated to Court 2 for the second time in four matches despite being the world s top ranked woman
With Barty coming off second best in a 3 6 6 2 6 3 tussle won by little known American Alison Riske some thought it would have made more sense to play that match in front of a bigger audience than Nadal s 6 2 6 2 6 2 procession over Joao Sousa
But if anyone thought Nadal was about to be his usual humble self and toe the politically correct line by having a go at the Wimbledon organizers they were sorely mistaken
Can we predict the future or not I am the world No 2 and I won 18 Grand Slams he told an amused group of reporters at news conference as he justified his billing
In the world of tennis today honestly my feeling is today I am little bit more than Ashleigh Barty even if Ashleigh Barty is the first ranked player in the world and she already won in the French Open and she is playing unbelievably good
While the equality police were getting hot and bothered on Barty s behalf the Australian who took a break from tennis to play Big Bash cricket a few years ago flat batted the question
Scheduling is out of my control I ll play on any court I m scheduled on said the 23 year old whose only outing on the main 15 000 seater Centre Court stage was when she played lowly ranked British wildcard Harriet Dart on Saturday
Obviously scheduling is very difficult There are so many incredible matches all the fans and all the people want to watch and players want to be a part of
For us the tennis court is the same size Court 2 is a beautiful court I enjoyed my time out there
Last week former world number one Victoria Azarenka said there is big inequality in the scheduling of men s and women s matches at tournaments
Last month the French Open organizers decision to stage the men s semi finals on the main Court Philippe Chatrier and move both of the women s last four matches to smaller venues after rain played havoc with the schedule was labeled a disgrace by former world number one Amelie Mauresmo while WTA boss Steve Simon said it was unfair and inappropriate
Twelve months ago five times Wimbledon champion Venus Williams NYSE WMB contested her first round match on Court 2
In contrast the so called Big Four in men s tennis Federer Nadal Djokovic and Andy Murray who is only playing doubles here this year after hip surgery have never been scheduled to play singles matches outside of Centre and Court One since they held aloft the Challenge Cup
The last time any of the quartet had to venture on to an outside court was in 2009 when Djokovic played his fourth round match against Dudi Sela on Court 3 two years before he won the first of his four titles at the All England Club
However over the first seven days of this year s championships more women s singles matches have been contested on the two main show courts 22 than men s 20 albeit not always the right ones according to some disgruntled observers |
WMB | Serena fined 10 000 for damaging Wimbledon court | Reuters Serena Williams NYSE WMB was fined 10 000 by the All England Club for damaging one of Wimbledon s courts with her racket prior to the start of the tournament media reported
Williams who faces fellow American Alison Riske in the quarter finals on Tuesday as she looks to win her 24th Grand Slam title has yet to comment on the fine
Fabio Fognini was also fined 3 000 for unsportsmanlike conduct after a rant during his third round defeat to Tennys Sandgren
The Italian had said he hoped a bomb would explode at the All England Club
Nick Kyrgios was fined 8 000 in total from separate unsportsmanlike incidents in his first and second rounds
The fiery Australian lost to Rafa Nadal in the second round |
WMB | Wedding bells sound sweet to Riske as she prepares to face Williams in quarters | LONDON Reuters Alison Riske said she wished she could get married more often after crediting her upcoming nuptials for her barnstorming run at Wimbledon which has earned her a quarter final date with fellow American Serena Williams NYSE WMB
Riske who will marry Stephen Amritraj the son of former Indian Davis Cup player Anand after Wimbledon stunned world number one Ash Barty to notch up her 14th win in 15 matches on grass this season
Tuesday s clash against seven times Wimbledon champion Williams will be her first appearance in a Grand Slam quarter final
I wish I could get married more often Maybe we ll have to renew our vows because it s worked out well having that on the horizon Riske told reporters
I m looking forward to it so much Everything is pretty much already in stone I m not really stressed about it
I haven t been stressed about it really from the beginning probably because my fiance has been doing all the work
Riske has a history of doing well on grass having won 11 of her 19 career Grand Slam matches at Wimbledon
When asked about the prospect of facing Williams for a place in the last four Riske said It s super exciting I played doubles with Serena but never played against her It will be an interesting match
Today was a great preparation for me going into the Serena match Again I m ready for a war She s the greatest athlete I think that s ever been on the women s side |
WMB | Gold dips on Pre Fed Speculation | By Barani Krishnan
Investing com Fed cut or no cut
Speculation on which way the Federal Reserve will lean on its rate policy come July 31 weighed on gold prices on Monday with almost as many traders appearing to bet the central bank might not immediately pull the trigger on easing as opposed to those wagering on a rate cut
Both bullion and futures of gold dipped as the surprisingly strong U S jobs report for June kept the market in suspense on whether 1 400 pricing will become the norm again or if support for 1 300 will continue to chip away
Spot gold reflective of trades in bullion traded at 1 397 67 per ounce by 2 43 PM ET 18 43 GMT down 1 30 or 0 1 on the day The session high was 1 407 66
Gold futures for August delivery traded on the Comex division of the New York Mercantile Exchange settled Monday s trade down just a dime at 1 400
A slew of speeches by the Fed s top officials this week is expected to feed gold traders obsession for a rate cut There are as many as 10 scheduled speeches by central bankers including Fed Chair Jerome Powell who ll be delivering two days of testimony to House and Senate panels The Fed s June meeting minutes are also due on Wednesday
Investing com s Fed Rate Monitor Tool still suggests a 100 chance the Fed will cut its key federal funds rate from 2 25 2 5 to 2 2 25 in July Powell also said in a recent speech an ounce of prevention is worth more than a pound of cure a hint that the central bank might lean toward a so called insurance cut to head off a potential economic slowdown
Yet some market participants have scaled back expectations that a July cut is almost a certainty after the Labor Department that non farm payroll employment grew 224 000 in June a signal the economy may be too strong to justify an easing The forecast jobs expansion had been only 160 000
Other Fed bankers lined up to speak this week are New York Fed President John Williams NYSE WMB St Louis Fed president James Bullard Fed Atlanta President Raphael Bostic Fed Vice Chair for Supervision Randal Quarles Richmond Fed President Thomas Barkin and Minneapolis Fed President Neel Kashkari
Of these the most closely watched will be Bullard who was the only dissenting voice at the June 18 19 Fed meeting when the central bank decided to hold rates Bullard is one of the more dovish members of the central bank s policy setting Federal Market Open Committee or FOMC and voted for a rate cut
The Fed s June minutes will also be closely perused for precise reasons on the FOMC s decision to hold its federal funds rate steady in June |
WMB | Gold Prices Slip Below 1 400 Ahead of Speeches by Fed Officials | Investing com Gold prices slipped below the 1 400 level on Tuesday in Asia ahead of speeches by multiple U S Federal Reserve officials in the next couple of days
Gold futures for August delivery on the Comex division of the New York Mercantile Exchange slipped 0 3 to 1 396 45 by 12 07 AM ET 04 07 GMT
10 U S central bankers including Fed chair Jerome Powell are set to speak this week The Fed s June meeting minutes are also due on Wednesday
Other Fed bankers lined up to speak this week are New York Fed President John Williams NYSE WMB St Louis Fed president James Bullard Fed Atlanta President Raphael Bostic Fed Vice Chair for Supervision Randal Quarles Richmond Fed President Thomas Barkin and Minneapolis Fed President Neel Kashkari
Markets previously expected an interest rate cut in July but recent data including the non farm payroll reports released last Friday showed the U S economy may be too strong to justify an easing
Meanwhile David Roche president and global strategist at London based Independent Strategy said he expects gold prices to reach 2 000 by the end of the year
I actually believe financial markets are now poised to crumble like a sand pile he told CNBC in an interview
I think the trade conflict with the United States is a much far wider reaching global conflict which will undermine growth expectations in equity markets Roche said
Given that outlook the yellow metal is expected to benefit from more safe haven demand |
WMB | As women wilt at Wimbledon men s Big Three march on | By Mitch Phillips LONDON Reuters As the Wimbledon women s quarter finals take place on Tuesday without any of the top six seeds the men s competition has a far more familiar look with the Big Three not only safely through but in most cases barely breaking sweat For many fans this famine or feast has left them somewhat confused Everyone loves the excitement of a new name crashing the party which is why 15 year old Coco Gauff was so popular But they also want to believe they are seeing the best in the sport when it gets to the sharp end which with the exception of Serena Williams NYSE WMB and former world number one Simona Halep does not seem to be the case on the women s side They also want to get a glimpse of the holy trinity Roger Federer Rafa Nadal and Novak Djokovic But even these players biggest supporters are crying out for someone to make a sustained assault on their utter strangulation of the men s game something that only Andy Murray and Stan Wawrinka have managed in the last 15 years The three men sit proudly on top of the Grand Slam winners chart with Federer on 20 Nadal 18 and Djokovic 15 Between them they have scooped up an incredible 53 of the last 64 grand slam titles and with only one other top 20 seed into the quarter finals look certain to add another on Sunday Murray and Wawrinka briefly pushed the door ajar each winning three titles but they have both fallen by the wayside Five others have had their moment in the sun by hoisting a Grand Slam trophy but all failed to manage a second title Instead the Big Three continue to defy all sporting norms by not only continuing to win the biggest prizes but seemingly maintaining the gap in quality between them and the chasing pack despite playing at ages when many would contemplate winding down on the seniors tour In Monday s fourth round matches when in theory the quality of opposition should be challenging they all swept to three set victories Nadal 33 and Djokovic 32 did not face a single break point while Federer 37 faced one In the tournament so far each man has dropped one set Federer has been broken twice in four matches Nadal three times and Djokovic four times FITNESS REGIME Trying to establish why nobody has been able to challenge their hegemony has been a discussion theme in the game for years In his early career Murray came to realize that he was physically unable to compete and set about a fitness regime that eventually meant he could stand toe to toe with the big guns through tough five setters That though seems something of an exception as some coaches and pundits suggest the younger generation albeit men now in their mid and late 20s lack the motivation to train to the levels necessary Asked on Monday about the dominance Federer who turns 38 next month said the three men had learned how to navigate a two week tournament The best guys now are fully engaged they know exactly what to expect from the court and the conditions he said With experience we haven t dropped much energy in any way It s not like we re coming in with an empty tank into the second week All these little things help us to then really thrive Djokovic who made it his life s goal to reach a level of fitness that enabled him to challenge the other two said the trio s aura probably helped but that the most basic explanation was more prosaic The confidence everything that we have achieved in our careers obviously we carry onto the court then most of the other players feel that pressure while we are comfortable on the center stage he said
After that it takes hours of training preparation recovery It s a lifestyle really Dedication truly pays off I guess each one of us top three guys is different but I think we share that in common that we just love the game and we are very dedicated to it |
WMB | Williams survives Riske business to reach Wimbledon semis | By Toby Davis LONDON Reuters Serena Williams NYSE WMB clubbed her way into the Wimbledon semi finals draining the last drop of fight from fellow American Alison Riske before sealing a 6 4 4 6 6 3 win in a rip roaring Centre Court contest on Tuesday For two sets Riske absorbed every last punishing blow from the seven times champion while her own lightweight jab inflicted some early pain and then levelled the see saw encounter at 1 1 Williams blows however became too frequent and too heavy in the final games with the weaponized serve pushing the world number 55 Riske back on her heels while her return worked like an old slugger s right hook Having knocked out world number one Ash Barty in the last round and having spent over nine hours on court en route to the quarters the longest path to the last eight of anyone since 2011 Riske had shown a streak of pure Pittsburgh steel But Williams who is hunting down a record equalling 24th Grand Slam singles title is tennis tungsten and recovered superbly from a brief wobble in which she lost the second set and fell a break behind in the third I just needed to fight said Williams She was not giving it to me I needed to step up and take it That s what I had to do She eventually charged over the finish line after more than two hours on court bringing up match point when Riske netted a forehand and completing the job with her 19th ace of the match to set up a clash with either Johanna Konta or Barbora Strycova While the women s game is often exalted as being wildly unpredictable Williams remains the exception to the rule and Tuesday s win secured her a 37th Grand Slam semi final appearance She came into the quarters having won 96 singles matches at the All England Club while the other seven players left in the draw had won 80 between them GET TO BUSINESS The discrepancy between Williams achievements and those of Riske could not have been more stark The 29 year old was playing her first Grand Slam quarter final in her 30th major and had accumulated around 85 million less in prize money than Williams Yet the Pittsburgh native feels at home on grass and with 11 of her 19 Grand Slam match wins coming at Wimbledon she was never going to be a pushover for Williams who is still feeling her way back after a niggling knee injury had limited her court time since the Australian Open in January Riske struck first breaking in the third game before Williams had really got her legs into gear but a 3 1 advantage was quickly wiped out as the 11th seed won five of the next six games to take the set The wild swings of momentum were briefly halted at the start of the second as the match went with serve until Williams lost hers in the ninth game In the blink of an eye she had lost the set and been broken again in the first game of the decider with the Centre Court crowd sniffing an upset The advantage then swung from player to player as Williams seized back the initiative to go 3 1 up and then seemed powerless as Riske moved her around the court forcing a string of errors from the former world number one s racket Midway through the set as the wind played havoc with her hair Williams decided enough was enough in more ways than one Pulling her hair into the tightest of buns at the changeover she went about finishing off Riske with punishing efficiency I just needed to get it out of the way put the business bun up and just get to business she said
She put menacing pressure on the Riske serve bringing up break point before a double fault gave Williams a 5 3 lead an advantage she was never going to relinquish |
BMY | AstraZeneca Sells Zurampic s EU And Latin American Rights | AstraZeneca plc NYSE AZN announced that it has entered into a licensing agreement with Gr nenthal GmbH under which the latter will gain exclusive rights to the gout drug Zurampic lesinurad of the former in the EU Switzerland Iceland Norway and Lichtenstein and in all Latin American countries including Mexico the Dominican Republic and Cuba
Gr nenthal will also gain exclusive rights to the fixed dose combination of Zurampic and allopurinol in these markets Moreover Gr nenthal will seek approval for this combination which is currently under development
The deal will see AstraZeneca receiving sales and other related milestone payments of up to 230 million over the life of the contract plus tiered low double digit royalties on annual product sales AstraZeneca will initially manufacture and supply Zurampic to Gr nenthal and undertake the European post approval commitment on Gr nenthal s behalf Gr nenthal will have the option to take over manufacturing of Zurampic beginning Oct 1 2021
We note that Zurampic was approved in the EU in combination with a xanthine oxidase inhibitor for the adjunctive treatment of hyperuricemia excess of uric acid in the blood in adults with uncontrolled gout in Feb 2016
Meanwhile revenues from the licensing agreement are expected to provide AstraZeneca with recurring externalisation revenue from any expected milestone payments and tiered low double digit percent royalty payments on product sales However the agreement is not expected to impact AstraZeneca s financial guidance for 2016
Zurampic s U S Rights to Ironwood Completed
In a separate press release AstraZeneca announced that it has completed the licensing agreement granting Ironwood Pharmaceuticals Inc NASDAQ IRWD the exclusive U S rights to Zurampic Ironwood also gained the rights to a fixed dose combination of Zurampic and allopurinol which is expected to be submitted for regulatory approval in the second half of 2016
The divestment of Zurampic will allow AstraZeneca to focus on selected core therapeutic areas Considering that several products in the company s portfolio went off patent putting pressure on its top line the company needs to expedite the development of its pipeline
AstraZeneca is currently a Zacks Rank 3 Hold stock Bristol Myers Squibb Company NYSE BMY and ANI Pharmaceuticals Inc NASDAQ ANIP are a couple of better ranked stocks in the health care sector each sporting a Zacks Rank 1 Strong Buy |
BMY | Regeneron Sanofi Report Positive Dupilumab Phase III Data | Regeneron Pharmaceuticals Inc NASDAQ REGN and Sanofi NYSE SNY announced encouraging long term data from a phase III LIBERTY AD CHRONOS study evaluating dupilumab with topical corticosteroids TCS versus TCS alone in inadequately controlled moderate to severe atopic dermatitis AD patients
Results demonstrated that dupilumab with TCS significantly improved measures of overall disease severity at 16 and 52 weeks when compared to placebo with TCS thereby meeting both primary and key secondary endpoints respectively
Primary endpoint results at week 16 showed that 39 of patients who received dupilumab either 300 mg weekly or 300 mg every two weeks with TCS witnessed clearing or near clearing of skin lesions compared to 12 of patients in the placebo with TCS arm Additionally 64 of patients on dupilumab 300 mg weekly with TCS and 69 of patients on dupilumab 300 mg every two weeks with TCS achieved EASI 75 compared to 23 of patients receiving placebo with TCS Moreover it was found that patients in the dupilumab with TCS groups were less likely to discontinue treatment compared to patients in the placebo with TCS group
As per the companies press release a regulatory application in the U S which is planned for the third quarter of 2016 will include these data in addition to previously reported data from phase III studies
We note that positive top line data from two phase III studies LIBERTY AD SOLO 1 and SOLO 2 evaluating dupilumab as a monotherapy in adults with inadequately controlled moderate to severe AD were announced in Apr 2016
Considering that there are roughly 1 6 million patients in the U S who have been diagnosed with moderate to severe AD and are currently being treated but are still living with inadequately controlled disease its approval would be a huge boost for the patient population and both companies
We note that dupilumab enjoys Breakthrough Therapy status in the U S for the treatment of AD This designation should expedite the development and review process of the candidate
Apart from AD dupilumab is also being evaluated for additional inflammatory indications including asthma and nasal polyposis
Currently both Regeneron and Sanofi are Zacks Rank 3 Hold stocks Bristol Myers Squibb Company NYSE BMY and ANI Pharmaceuticals Inc NASDAQ ANIP are a couple of better ranked stocks in the health care sector each sporting a Zacks Rank 1 Strong Buy |
BMY | Roche Presents Encouraging Data On Actemra And Tecentriq | Roche Holding SIX ROG AG OTC RHHBY announced positive results from the phase III study GiACTA on arthritis drug Actemra RoActemra
The study met its primary and key secondary endpoints as data showed that Actemra initially combined with a six month steroid glucocorticoid regimen was more effective in sustaining remission through one year as compared to a 6 or 12 month steroid only regimen in people with newly diagnosed and relapsing giant cell arteritis GCA
Given that high dose steroids are the mainstay treatment for GCA despite being associated with serious adverse effects an approval for Actemra would provide much needed alternative to patients with GCA
We note that Actemra is currently approved for the treatment of adult patients with moderate to severe active rheumatoid arthritis RA in both intravenous and subcutaneous formulations
Roche s immunology portfolio currently comprises drugs like MabThera Rituxan and Actemra for RA Xolair for asthma Pulmozyme for cystic fibrosis and Esbriet for idiopathic pulmonary fibrosis IPF along with a promising pipeline that includes etrolizumab for inflammatory bowel disease and lebrikizumab for severe asthma atopic dermatitis and IPF
Roche also announced that its immune oncology Tecentriq atezolizumab was effective in shrinking tumors in patients with previously untreated advanced bladder cancer as observed in a phase II study IMvigor210
Last month the drug was granted accelerated approval by the FDA for the treatment of locally advanced or metastatic urothelial carcinoma
Roche presented additional data on Tecentriq at the 52nd Annual Meeting of the American Society of Clinical Oncology Initial data on Tecentriq in combination with Exelixis NASDAQ EXEL Cotellic showed that the drug was well tolerated with responses observed regardless of the Programmed Death Ligand 1 PD L1 expression in patients suffering from advanced colorectal cancer in a phase Ib study
A phase Ib study among patients with triple negative breast cancer mTNBC showed that Tecentriq in combination with Abraxane chemotherapy showed durable responses occurring across all lines of therapy The safety profile was similar to that previously seen with Tecentriq or Abraxane chemotherapy alone A dose finding study of Tecentriq in combination with anti OX40 treatment MOXR0916 showed a favorable safety profile and evidence of immune activation in an ongoing phase Ib study
Roche also presented updated survival data from the phase II study POPLAR on Tecentriq in patients with previously treated advanced non small cell lung cancer NSCLC wherein the drug showed an increasing overall survival benefit in patients
We remind investors that the FDA has accepted the company s Biologics License Application BLA and granted priority review to Tecentriq for the treatment of patients with locally advanced or metastatic NSCLC whose disease expresses the protein PD L1 as determined by an FDA approved test and who have progressed on or after platinum containing chemotherapy A decision by the FDA is expected by Oct 19 2016
We expect investors to focus on new drug approvals at Roche as the company s top line could be marred by the entry of biosimilars for its key drugs expected in the second half of 2017 in Europe like MabThera and Herceptin
Roche currently carries a Zacks Rank 3 Hold A couple of better ranked stocks in the health care sector are Pfizer Inc NYSE PFE and Bristol Myers Squibb Company NYSE BMY Both the stocks sport a Zacks Rank 1 Strong Buy |
WMB | U S China 90 Day Tariff Truce | Index Futures Net Changes and Settlements
Foreign Markets Fair Value and Volume
In Asia 11 out of 11 markets closed higher Shanghai Comp 2 57 Hang Seng 2 55 Nikkei 1 00
In Europe 13 out of 13 markets are trading higher CAC 1 01 DAX 2 21 FTSE 1 66
Fair Value S P 0 53 NASDAQ 3 78 Dow 16 16
Total Volume 1 47mil ESZ 566 SPZ traded in the pit
As of 8 00 AM EST
Today s Economic Calendar
Today s economic calendar includes John Williams NYSE WMB Speaks 9 15 AM ET PMI Manufacturing Index 9 45 AM ET ISM Mfg Index 10 00 AM ET Construction Spending 10 00 AM ET Lael Brainard Speaks 10 30 AM ET and Robert Kaplan Speaks 1 00 PM ET
S P 500 Futures U S China Global Market Teeter Totter
The S P 500 futures traded down to 2729 00 on Globex early Friday morning and traded 2736 75 on the 8 30 futures open down 7 50 handles The first move after the bell was a break down to 2733 25 followed by a rally up to 2748 50 just 6 handles shy of Thursdays 2754 50 high After the high the ES sold off and made a higher low at 2735 75 and then rallied up to a lower high at 2745 50 From there the futures sold back off down to another higher low at 2737 25 and then shot up to 2752 00 after a headline hit the tape that the U S and China were reaching points of consensus though some areas of disagreement remain
At 2 03 CT the MiM opened up showing 948 million to buy and the ES was trading 2751 50 with 926 000 contracts traded As the MiM increased to 1 42 billion to buy the ES broke out above the highs and traded up to 2759 25 At 2 45 the benchmark futures traded 2755 50 as the final MiM showed 1 6 billion to buy On the 3 00 cash close the ES traded 2757 00 and then traded up to a new high at 2664 75 at 3 13 then went on to settle at 2764 25 on the 3 15 futures close up 22 25 handles or 0 81 on the day
In the end it was clearly about the China tariff headlines Prior to the headline there was only 640 000 ES contracts traded 45 minutes later it was 1 million In terms of the days overall tone it acted good but I just have lingering doubts about the Trump Xi tariff meeting In terms of the days overall trade 1 39 million ES traded the lowest volume in almost two months
Disclaimer Trading Futures Options on Futures and retail off exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors You should carefully consider whether trading is suitable for you in light of your circumstances knowledge and financial resources Any decision to purchase or sell as a result of the opinions expressed in the forum will be the full responsibility of the person s authorizing such transaction s BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE S AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS
Original post |
WMB | EUR USD Euro Rally Continues On Strong Inflation Report | EUR USD has posted gains in the Tuesday session continuing the upward movement which started the week Currently the pair is trading at 1 1408 up 0 47 on the day On the release front Eurozone PPI climbed to 0 8 above the estimate of 0 5 There are no major releases out of the U S On Wednesday ECB President Mario Draghi will speak at a banking conference in Frankfurt Germany and the eurozone will release Services PMIs and we ll also get a look at eurozone retail sales
The U S dollar continues to retreat this week as EUR USD has climbed 0 80 The greenback remains under pressure following the G 20 summit on the weekend where President Trump and Chinese President Xi Jinping held a meeting and agreed to suspend any further tariff moves until March 1 Trump had threatened to raise tariffs on all Chinese products from 10 percent to 25 percent and news of a cease fire between the world s two largest economies was met with relief by the markets With a marked increase in risk appetite the dollar is broadly lower At the same time the reprieve is only for 90 days and market optimism could quickly fade unless the sides make substantial progress in the next several weeks
German indicators continue to struggle in the fourth quarter raising concerns among analysts Last week GfK Consumer Climate dipped to an 18 month low and retail sales fell by 0 3 its first decline since July Consumers are holding tighter to the purse strings which is hurting economic growth The downward trend continued on Monday as Manufacturing PMI dropped to 51 8 in November down from 52 2 points in October This marked a fourth straight downturn and was the lowest reading since April 2016 The global trade war has taken a bite out of German exports and a slowdown in the eurozone economy has dampened manufacturing growth in Germany This does not bode well for the eurozone economy as the German economy is often a bellwether for the rest of the Fundamentals
Tuesday December 4
2 35 French Government Budget Balance Actual 87 0B
3 00 Spanish Employment Change Estimate 34 2K Actual 1 8K
5 00 Eurozone PPI Estimate 0 5 Actual 0 8
All Day ECOFIN Meetings
10 00 US FOMC Member Williams NYSE WMB Speaks
Tentative IBD TIPP Economic Optimism Estimate 57 3
Wednesday December 5
3 30 ECB President Draghi Speaks
3 55 German Final Services PMI Estimate 53 5
4 00 Eurozone Final Services PMI Estimate 53 1
5 00 Eurozone Retail Sales Estimate 0 2
All release times are EST
Key events are in bold
EUR USD for Tuesday December 4 2018
EUR USD for December 4 at 6 00 EST
Open 1 1354 High 1 1419 Low 1 1350 Close 1 1408
EUR USD Technical
EUR USD posted gains in the Asian session and this trend continues in European trade
1 1300 is providing support
1 1434 is a weak resistance line
Current range 1 1300 to 1 1434
Further levels in both directions
Below 1 1300 1 1212 1 1120 and 1 0992
Above 1 1434 1 1553 and 1 1685
Original post |
WMB | S P Rallies And Then Falls After U S China Trade Tensions Ease | Index Futures Net Changes and Settlements
Foreign Markets Fair Value and Volume
In Asia 6 out of 11 markets closed lower Shanghai Comp 0 42 Hang Seng 0 29 Nikkei 2 39
In Europe 12 out of 13 markets are trading lower CAC 0 64 DAX 0 67 FTSE 0 67
Fair Value S P 0 52 NASDAQ 3 55 Dow 14 64
Total Volume 1 89mil ESZ 1 122 SPZ traded in the pit
As of 8 00 AM EST
Today s Economic Calendar
Today s economic calendar includes Motor Vehicle Sales Redbook 8 55 AM ET and John Williams NYSE WMB Speaks 10 00 AM ET
S P 500 Futures ES Trade War Chop Shop
The S P 500 futures traded up to 2814 00 during Sunday nights Globex session and then sold back off down to the 2797 00 area before opening Monday mornings day session at 2801 25 After the open the ES rallied up to 2802 50 and then made a sequence of of lower lows down to 2776 25 From there the futures rallied back up to 2785 75 then double bottomed at the 2773 25 2773 75 area
After the double bottom ES rallied up to 2788 75 pulled back down to 2780 75 double topped at 2790 50 sold off down to 2774 76 and then rallied up to a double top at 2788 00 After a pullback down to 2781 00 the futures rallied up to 2793 50 as the MiM went to over 500 million to buy around 2 40 CT The ES again pulled back down to 2790 50 as the MiM flipped to 720 million to sell and then down ticked to 2784 75 The futures went on to trade 2788 50 on the 3 00 cash close and settled the day at 2791 00 up 32 50 handles or up 1 19
In the end the early pullback was all about the lack of buying power after the big rally Sunday night In terms of the overall tone the futures acted OK but I would have liked it a lot more had the ES closed above 2800 00 In terms of the days overall trade 1 89 million contracts traded witch would be considered high for what we have been seeing over the last few days
Disclaimer Trading Futures Options on Futures and retail off exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors You should carefully consider whether trading is suitable for you in light of your circumstances knowledge and financial resources Any decision to purchase or sell as a result of the opinions expressed in the forum will be the full responsibility of the person s authorizing such transaction s BE ADVISED TO ALWAYS USE PROTECTIVE STOP LOSSES AND ALLOW FOR SLIPPAGE TO MANAGE YOUR TRADE S AS AN INVESTOR COULD LOSE ALL OR MORE THAN THEIR INITIAL INVESTMENT PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS
Original post |
WMB | Sentiments Stabilized With DOW s Late Rebound Dollar Turns To Non Farm Payrolls | Risk sentiments generally stabilized after the late rebound in US stocks overnight DOW hit as low as 24242 22 but closed at 24947 67 Down just 0 32 S P 500 also hit as low as 2621 53 but closed at 2695 95 down only 0 15 NASDAQ even reversed and closed up 0 42 at 7188 26 Treasury yield however closed deeper lower with 10 year yield losing 0 048 to 2 876 In Asian all major indices are trading in black at the time of writing Nikkei is up 0 48 Singapore Strait Times up 0 41 Hong Kong HSI up 0 27 China Shanghai SSE LON SSE lags behind and is up 0 08 only 10 year JGB yield also recovers and is back at 0 059
In the currency markets Yen is trading as the weakest one for today followed by Sterling and the Canadian New Zealand Dollar is the strongest one for today followed by Swiss Franc and then Australian But for the week Swiss Franc and Yen are overwhelmingly the strongest ones Australian and Canadian are the weakest The weekly picture is unlikely to change at close Though US non farm payroll has the prospects to lift Dollar from the third weakest for the week to something better
Technically EUR USD and GBP USD are still bounded in familiar range USD CHF breached 0 9908 support overnight but recovered quickly USD JPY also breached 112 30 but then recovered USD JPY is indeed recovering further in Asian session Thus overall there is no clear weakness in Dollar yet Traders are just cautious ahead of NFP Australian Dollar is digesting this week s sharp losses AUD USD recovers after touching 0 7199 EUR AUD retreats after touching 1 5871 These two levels will remain the focus for today
Fed Powell Some communities yet to feel full benefits of strong economy
Fed Chair Jerome Powell said in a speech yesterday that by many national level measures our labor market is very strong However he also noted that aggregate statistics can mask important variations between different demographic and income groups as well as significant regional differences He pointed to statistics indicating unemployment rates in some persistently poor rural counties remain much higher than the national figures
And while the economy is strong overall we recognize that some communities have yet to feel the full benefits of the ongoing expansion Fed is conducting research collaborating with communities and assessing financial regulations so that our nation s current prosperity will benefit small towns and cities alike
Fed Williams NYSE WMB Tariff is a negative for jobs
New York Fed John Williams said in a forum yesterday that the Trump s tariff war with other countries have relatively small effect on the economy But they created higher uncertainty for businesses
Williams said at least so far the tariffs that have been put in place by the United States and other countries when you roll that up into a 20 trillion economy it doesn t have a big effect overall on economic growth or inflation And the much more important and larger effect is higher uncertainty for businesses As companies put off investments due to the uncertainties that s a negative for jobs in the short run and a factor that slows the economy relative to what it could be
BoC Poloz admits economy loss momentum going into Q4
BoC Governor Stephen Poloz admitted yesterday that data released since our October Monetary Policy Report have been on the disappointing side And the economy has less momentum going into the fourth quarter than we believed it would
Also regarding recent oil price slump Poloz added it is already clear that a painful adjustment is developing for Western Canada and there will be a meaningful impact on the Canadian macroeconomy
The comments echo BoC s cautious statement earlier this week and solidify the chance for BoC to pause its rate hikes if things don t improve
BoJ Kuroda No need for additional easing
BoJ Governor Haruhiko Kuroda told the parliament today that the economy is sustaining its momentum for achieving our 2 percent target But that momentum lacks strength so we will carefully watch developments For now though Kuroda added I don t see the need to take additional monetary easing steps And BoJ has no preset idea of what tools to use if more easing is needed but policy makers will carefully weigh the cost and benefit of any step we take
Released from Japan household spending dropped 0 3 yoy in October much worse than expectation of 1 2 yoy rise Labor cash earnings rose 1 5 yoy higher than expectation of 1 0 yoy The weak spending data highlights the fact that there is no condition for consumption to strengthen yet It still take time for the rise in wages to pass though to consumption and then inflation
Separately according to a Reuters poll 55 of Japanese companies expect 2019 growth to be around the same as 1 in 2018 31 see it slowing and only 14 see it accelerating Among the concerns of business the planned sales tax hike in October and US China trade war top US Japan trade negotiations emerging markets and Middle East tensions are also seen as risks to growth
Looking ahead
Germany will release industrial production in European session Eurozone will release GDP revision Swiss will release foreign currency reserves
But US non farm payroll will be the main focus Fed s rate hike beyond December and March hike is highly data dependent And strong jobs and wage data are needed to convince policy makers to raise interest rate at least to upper bound of estimated neutral Canada will also release job data today |
WMB | Williams Sonoma WSM Down 13 8 Since Last Earnings Report Can It Rebound | It has been about a month since the last earnings report for Williams Sonoma WSM Shares have lost about 13 8 in that time frame underperforming the S P 500
Will the recent negative trend continue leading up to its next earnings release or is Williams Sonoma due for a breakout Before we dive into how investors and analysts have reacted as of late let s take a quick look at its most recent earnings report in order to get a better handle on the important drivers Williams Sonoma WSM Q3 Earnings Top Comps SoftWilliams Sonoma Inc reported non GAAP earnings of 95 cents per share at the higher end of the guided range in the third quarter of fiscal 2018 surpassing the Zacks Consensus Estimate of 94 cents The figure also grew 13 1 year over year The company s revenues of 1 357 million missed the consensus mark of 1 363 million but grew 4 4 year over year Comps increased 3 1 compared with 4 6 increase in the second quarter and 3 3 growth in the year ago quarter Meanwhile demand comps total customer orders placed in the quarter were 4 6 higher than reported comps growth of 3 1 The company highlighted that the gap between demand comps and reported comps was mainly due to unexpected delays in product receipts owing to port congestion of products imported out of China as many U S importers enhanced shipments ahead of the Jan 1 tariff increase The company s West Elm brand s comps grew 8 3 compared with 11 5 growth in the prior year quarter Also Pottery Barn s comps were up 1 4 from negative 0 3 in the year ago quarter Meanwhile Pottery Barn Kids and Teen s recorded flat comps compared with 0 9 growth in the year ago quarter The company s Williams NYSE WMB Sonoma brand s comps were 2 1 down from 2 3 growth registered in the prior year quarter Segment DetailsE Commerce 55 of fiscal third quarter revenues segment reported net revenues of 746 7 million in the quarter up 8 2 year over year Retail 45 segment s net revenues inched up 0 2 to 610 3 million in the reported quarter Operating HighlightsNon GAAP gross margin was 36 5 up 60 bps from the year ago figure The upside was attributable to higher selling margins and occupancy leverage Non GAAP selling general and administrative SG A expenses were 28 9 of net revenues or 391 7 million in the quarter reflecting an increase of 100 bps year over year owing to higher employment related costs Non GAAP operating margin was 7 6 in the quarter down 90 bps year over year Merchandise inventories increased 1 8 to 1 2 billion FinancialsWilliams Sonoma reported cash and cash equivalents of 164 4 million as of Oct 28 2018 compared with 390 1 million on Jan 28 2018 During fiscal third quarter the company repurchased 742 508 shares of common stock at an average price of 61 15 per share and a total cost of approximately 45 million As of Oct 28 2018 Williams Sonoma had approximately 299 million remaining under its present stock repurchase program Fiscal Fourth Quarter GuidanceWilliams Sonoma currently expects non GAAP earnings per share in the band of 1 89 1 99 The company expects net revenues in the range of 1 733 1 833 million Comps are likely to grow 0 5 Reaffirms Fiscal 2018 GuidanceWilliams Sonoma expects its total revenues in the 5 565 5 665 million range Comps are expected to grow in the range of 3 5 Williams Sonoma expects non GAAP earnings within 4 26 4 36 per share Non GAAP operating margin is likely to be in the range of 8 4 9 The company also retained its tax rate and capital expenditure guidance of 24 26 and 200 220 million respectively
How Have Estimates Been Moving Since Then
In the past month investors have witnessed a downward trend in fresh estimates
VGM Scores
Currently Williams Sonoma has a strong Growth Score of A though it is lagging a lot on the Momentum Score front with an F However the stock was allocated a grade of B on the value side putting it in the second quintile for this investment strategy
Overall the stock has an aggregate VGM Score of A If you aren t focused on one strategy this score is the one you should be interested in
Outlook
Estimates have been broadly trending downward for the stock and the magnitude of these revisions indicates a downward shift Notably Williams Sonoma has a Zacks Rank 3 Hold We expect an in line return from the stock in the next few months |
WMB | Goofy Gauff can t believe who is watching her heroics | By Neil Robinson
LONDON Reuters Among the many remarkable things that happened to Cori Coco Gauff on Saturday the 15 year old actually lost a game of tennis
But no matter Being tweeted by Michelle Obama Jaden Smith and Samuel L Jackson among others more than made up for losing her mixed doubles match with Jay Clarke 6 1 6 4 to Robert Lindstedt and Jelena Ostapenko
Gauff the American teenager who has proved the revelation of Wimbledon s first week by reaching the fourth round of the women s singles was still pinching herself at her celebrity status She said she was delighted that her country s former First Lady had tweeted Coco is terrific
I was super excited She s one of my role models So it was just cool to see that she knows I exist said Gauff whose Instagram account showed her clowning round and swooning at news of all her famous backers
I saw videos back at home of people screaming after a match And I saw somebody painted a mural of me in Fort Lauderdale That was pretty cool
Asked to describe herself she came up with the sort of self deprecating response that explains why she has been such a hit at Wimbledon Weird Weird goofy and I don t know Yeah weird and goofy I guess
Gauff said she was particularly flattered that singer Jaden one of her big idols had noticed
I have looked up to Jaden for so long People who follow me know that s all I post about I kind of slowed down on it a little bit but still it was pretty exciting for me His new album just came out as well
Gauff has enjoyed a life changing week after beating Venus Williams NYSE WMB and 2017 semi finalist Magdalena Rybarikova and then saving two match points to down Polona Hercog in front of an ecstatic crowd on Friday
Now she faces her biggest test against former world number one Simona Halep on Monday and the bad news for the Romanian is that she intends to follow exactly the same pre match routine that has worked so well up to now
I think I m just going to approach her like every other match I have been approaching My routine has been working pretty well so that s how I m going to go into the match she said
I like to look at prank videos on YouTube and listen to music I love music that keeps me calm before matches because obviously when you get out there there s a lot of nerves anyway Yeah I like to find my own space put some relaxed music on
Asked if she will feel any different going into the second week of a grand slam she said I don t know We ll see when I go on the court |
WMB | MLB notebook Yankees Tanaka among All Star additions | Pittsburgh Pirates closer Felipe Vazquez was named Saturday to the National League All Star team along with Milwaukee Brewers starting pitcher Brandon Woodruff Major League Baseball announced
New York Yankees starter Masahiro Tanaka was added to the American League All Star team replacing Toronto Blue Jays right hander Marcus Stroman who missed his July 4 start after suffering discomfort in his left shoulder pectoral muscle
It was similar to how everybody else including you guys reacted pretty surprised Tanaka told reporters through an interpreter Saturday after hearing the news from Yankees manager Aaron Boone
Tanaka 30 who has been selected for the second time after coming from Japan for his first season in the U S in 2014 has compiled a 5 5 record and a 3 86 ERA with 90 strikeouts over 18 starts this season The NL pitchers who were replaced were right hander Zack Greinke of the Arizona Diamondbacks and left hander Josh Hader of the Brewers
Cleveland Indians right hander Carlos Carrasco who last pitched on May 30 revealed that he is being treated for leukemia
The Indians placed him on the 10 day injured list in early June citing a blood condition The team said then that future details will be conveyed at Carlos and his family s discretion
Carrasco 32 revealed the news during an excerpt of an interview that aired on CDN 37 in the Dominican Republic The full interview is expected to air Sunday Saturday afternoon in a video posted on the Indians Twitter account Carrasco said a blood test after a spring training physical prompted some concern and he was diagnosed with leukemia in May
Texas Rangers left hander Mike Minor will skip Sunday s scheduled start to give him an extra day of rest the team said
He was set to start against the Twins in Minnesota but left hander Joe Palumbo will start in his spot
Selected to his first All Star team Minor was replaced by Cleveland s Shane Bieber on the American League squad because he was initially scheduled to start on Sunday and wouldn t be available to pitch in the All Star Game on Tuesday
The Minnesota Twins placed first baseman C J Cron on the 10 day injured list due to right thumb inflammation
Cron is hitting 266 with 17 home runs and 54 RBIs in 78 games this season He went 2 for 5 with a pair of doubles on Friday as the Twins routed the Texas Rangers 15 6 The 29 year old is in his first season with the Twins after spending last season with the Tampa Bay Rays
In a corresponding move the Twins recalled outfielder LaMonte Wade Jr from Triple A Rochester Wade had just been optioned back to Rochester last Saturday after appearing in his major league debut
The Pirates placed left hander Steven Brault on the 10 day injured list after he strained his pitching shoulder during Friday night s game
Brault departed the contest against the Milwaukee Brewers a 7 6 loss in the fifth inning He felt discomfort in the shoulder and an MRI exam on Saturday detected the strain
Brault said he was encouraged to be told that his stay on the injured list should be brief The Pirates also placed right hander Trevor Williams NYSE WMB on the paternity list optioned right hander Dovydas Neverauskas to Triple A Indianapolis and recalled right handers Dario Agrazal Luis Escobar and Montana DuRapau from Indianapolis
Field Level Media |
WMB | Warrior on court diplomat off it classy Barty eases into week two | SYDNEY Reuters Ash Barty has raised Australian hopes of a first Wimbledon singles title since 2002 by storming into the fourth round of the championships but the world number one has also managed to calmly dodge a rash of potential controversies in week one
The French Open champion s grounded personality meant she was always going to present a clear contrast to the main Australian men s title hopefuls of recent years but there has been no shortage of compatriots ready to kick up a fuss on her behalf
First there was the decision by broadcaster Channel Seven to stick with the first round match between Nick Kyrgios and Jordan Thompson rather than show Barty s championship opener against China s Zheng Saisai
Blasted by Australia s Twitterati as sexist the decision was defended by the network on the grounds of the public interest in a thrilling all Australian five setter and Barty herself simply refused to bite
If people can watch my matches great If they can t they can t she said
Next up came the decision by the All England Club to put Barty s second round contest against Alison van Uytvanck on Court Two and schedule locals Cameron Norrie and Johanna Konta on Centre Court
Disregarding the blatant local bias often on display in scheduling at the Australian Open the outraged were soon in full voice once again at the disrespect shown to the top ranked Queenslander
Not so Barty
I ll play whenever I m scheduled she said There s not a bad court here at Wimbledon They re all very beautiful I certainly enjoyed playing on Court Two today
The third issue was a slow burner triggered by seven times Wimbledon champion Serena Williams NYSE WMB who appeared surprised to be informed Barty was top of the world rankings in her pre tournament news conference
SWEET PERSON
That was enough to prompt an outburst from retired former world number 53 Sam Groth who in a newspaper column dubbed the American s reaction an absolute disgrace
Barty again poured oil on choppy waters
Serena hasn t been at many of the tournaments lately so it s not really something that I worry about she said
Williams has never needed anyone to fight her battles of course and was happy to clarify her comments
I don t even know what he s talking about she said I m happy she s number one I don t know anyone that isn t
She s such a sweet person I think she s just the one person in the locker room that everyone roots for including me
Barty s off court diplomacy was a stark contrast to her on court brutality as she swept into the second week of the championships for the first time without coming close to dropping a set
The 23 year old finally had her day on Centre Court when she took apart Britain s Harriet Dart on Saturday but will be back out on Court Two to face grasscourt specialist Alison Riske when the tournament resumes on Monday
Williams looms as a dangerous potential quarter final opponent but Barty appears to be having fun slipping references to the movies enjoyed by her three year old niece into her press conference comments
Over and over she tells me you can go to infinity and beyond she said quoting a character from Toy Story after earlier in the week citing the song Hakuna Matata from Lion King |
WMB | Gauff faces toughest challenge at Wimbledon as Halep awaits | Reuters American teenager Cori Coco Gauff has captured the hearts of fans with her dream run to Wimbledon s fourth round but a stern examination awaits in the form of seventh seed Simona Halep on Monday
The 15 year old s popularity has soared off the charts in a memorable week at the All England Club with organizers also recognizing her potential to grab attention and giving her a Centre Court match up in the third round
Gauff did not disappoint saving two match points to beat Polona Hercog 3 6 7 6 7 7 5 and similarities with compatriot Jennifer Capriati who broke into the top 10 at the age of 14 became harder to ignore
Although Capriati struggled with fame at a young age Gauff appears to have both feet firmly planted on the ground drawing praise from 23 times Grand Slam winner Serena Williams NYSE WMB who has been impressed by her maturity
I would be wrong to give her advice She s doing great Williams said There are some 15 year olds like me who wouldn t know what to do at Wimbledon
Then you have Coco who is on a different level She s totally capable and ready Not every 15 year old is the same
Eight times Wimbledon champion Roger Federer also took notice of the youngster s mentality in her debut Grand Slam
I was terrible at 15 couldn t be on a court for longer than an hour and a half I would walk away Federer said
She seems developed she s moving great It s one of her great strengths And her mind which is not usually the case when you look at younger players
Gauff s success has been put down to her on court thinking and ever changing strategy an inherent ability to try different things when the going gets tough But in former world number one Halep she faces a potentially daunting task
Halep s baseline play could prove difficult for Gauff to overcome as some of her forehand returns have been punished in the first week while the Romanian s backhand is a force to be reckoned with
Halep said she had never watched the teenager play before and had expected Hercog to go through but Gauff has already done her homework on the 2018 French Open champion
I watch her a lot Gauff said I ve never practised with her I don t know how the ball would feel when I actually play but I m really familiar with how she plays just from watching her a lot
While Martina Hingis and Monica Seles won Grand Slams at the age of 16 the level headed Gauff has paid little attention to suggestions that she is the next big thing in women s tennis
I don t really believe in fate and destiny you can change your own world she said I take it just one tournament at a time |
WMB | Murray confident of return to top of men s tennis | LONDON Reuters Former world number one Andy Murray has been buoyed by his return to tennis after career saving hip surgery and is confident he can retake his place among the men s elite
The 32 year old who has been playing doubles since his return from hip resurfacing surgery in January had said ahead of the Australian Open that his career was likely over as he struggled with severe pain
I know how bad I felt in Australia and how bad I felt the last year that I played singles here and I feel better now than I did then Murray said in comments published in The Times on Monday
So if physically I can get back to a good level my tennis is still fine I m sure that tennis wise I will be able to keep up with guys
More male players aged 30 and over have advanced to the fourth round at Wimbledon than under 30 and the Scot said he did not feel there was anything to stop him from reforming the Big Four with Roger Federer Rafa Nadal and Novak Djokovic
A lot of the same guys are still there Murray added
I don t feel that the game has moved on and I won t be able to get back Why not
If someone can give me a reason why I shouldn t be able to compete again then I would listen to it but so far I haven t really been given one
Murray won the doubles title with Feliciano Lopez at Queen s Club in his return to competitive tennis late last month and entered the doubles and mixed doubles where he is partnering American great Serena Williams NYSE WMB at Wimbledon
He said at Queen s that he had not targeted a return to the singles court at the U S Open in New York from Aug 26 Sept 8 as he was going to go at my own pace
Murray added on Monday that he was just enjoying being back on court and looking forward to his second round match with Williams against Fabrice Martin and Raquel Atawo on Tuesday
I don t care which court we play on he added I m happy to play on whatever court 14 or 18 doesn t bother me
Sometimes doubles does get pushed back and it s not always the first event on the schedule so you have to expect that to happen |
WMB | Rock star seeks to upstage comedian president in Ukraine vote | By Matthias Williams NYSE WMB and Margaryta Chornokondratenko KIEV Reuters Standing on stage in a black t shirt Ukrainian rock star Sviatoslav Vakarchuk turns to his massed ranks of fans and asks if they are fed up about how their country is run How many of us want real change How many of us are tired of old politics he shouts out holding his microphone in the air as the crowd cheers back in response The 44 year old front man of the band Okean Elzy lays out his plans to run in July 21 parliamentary elections on a platform that includes cutting oligarchs down to size overhauling the justice system and helping innovators Then the band launches into its set Vakarchuk is trying to tap into a growing anti establishment mood in Ukraine the same mood that brought TV comedian Volodymyr Zelenskiy into the presidency in April with a landslide The singer launched his own party called Golos or Voice in May and is touring the country ahead of the snap vote Like Zelenskiy he has cast himself as a change from traditional politics and an enemy of corruption and low living standards At stake is the chance to form the government of a country on the frontline of the West s standoff with Russia following Moscow s annexation of Crimea in 2014 War between Ukrainian troops and Russian backed separatist forces in the eastern Donbass region has killed 13 000 people President Zelenskiy s Servant of the People party named after the TV comedy series where he plays a fictional president is on course to win the July vote A recent poll suggested Vakarchuk could come as high as third making him a potential coalition ally if Zelenskiy fails to win a majority Both sides say it is premature to discuss a tie up but there is common ground The two have an informal style and are comfortable on social media Zelenskiy posts his runs and gym workouts on Instagram Vakarchuk has shared snaps of his yoga poses and eight pack abs IMF ANTIBIOTICS Both have eschewed the normal left right center political labels and have a relative lack of political baggage Both men have said want to stick to an aid for reforms program with the International Monetary Fund pledges that may reassure investors For me the IMF is like antibiotics You don t like it and you want to stop using as soon as possible but if you have a real bacterial infection you take it because otherwise you ll get worse Vakarchuk told Reuters Both have also said they want to keep up Ukraine s progress toward the West Vakarchuk proved his credentials by staging concerts in Kiev s Independence Square NYSE SQ during the 2013 2014 Maidan revolt against Ukraine s then pro Russian ruler The refrain of one of his best known love songs I won t give up without a fight became a chant for the protesters He says the promises made by the Western backed politicians who came to power after that revolt remain unfulfilled If Ukraine becomes an economic success story he tells Reuters it will help convince people in Donbass and Crimea they are better off as part of Ukraine They see corruption they see a lack of justice he said If that changes it will be much easier for us to win the hearts and minds of these people Vakarchuk wraps up his concert in Freedom Square in the eastern city of Kharkiv close to the Russian border Earlier in the day he had spoken to a smaller crowd in front of a statue of another Ukrainian artist 19th century poet Taras Shevchenko
I really like the way he speaks and the changes he wants to bring said Roman Kaverzin a member of the crowd What really matters is that he is a famous figure in Ukraine People listen to him |
WMB | Williams crushes Suarez Navarro to reach quarter finals | By Clare Lovell
LONDON Reuters Serena Williams NYSE WMB reached her 14th Wimbledon quarter final by overwhelming Spain s Carla Suarez Navarro 6 2 6 2 even though she was not at her magnificent best on Court One on Monday
The 37 year old American aiming for a record equalling 24th Grand Slam title produced 19 unforced errors including a bizarre mistake when she leaned over the net to hit a volley and had the point docked
But she also conjured 21 winners some of which left the crowd gasping in admiration and her 30 year old opponent helpless on the other side of the net
Williams seeded 11th had little match practice coming into Wimbledon because of injury and teamed up with Andy Murray in the mixed doubles to get some more playing time
I ve had more matches this week than the past five months but it s definitely good and I know I can play and I m now physically better so it s almost a feeling of relief more than anything she said immediately after coming off court
Suarez Navarro ranked 31 in the world and one of the smaller players on tour lacks the big weapons and serving power needed for grass and has always had trouble against Williams
Monday s defeat was her seventh against the seven times Wimbledon champion
Though the Spaniard broke the American s serve in the second set she had no answer for Williams s pounding groundstrokes Suarez Navarro slipped trying to retrieve the ball to go match point down then mis hit a backhand to concede defeat
Williams who first played at the All England club as a 16 year old in 1998 said she was still ambitious
I m a really pumped player and of course I still want it or I wouldn t be here
Williams faces Alison Riske in the quarter finals after the American upset top seed Australian Ash Barty earlier on Monday
She s great on grass and just took out the world No 1 I watched that and I ll be ready Williams said |
WMB | Top ranked Barty ousted at Wimbledon | American Alison Riske upset World No 1 Ashleigh Barty in a fourth round match at Wimbledon on Monday
Barty won 15 matches in a row and entered with a chance to win consecutive Grand Slam titles following a French Open championship She won the first set but Riske stormed back to take down the Australian 3 6 6 2 6 3
I haven t been starting out fantastic in all my matches but I knew I had the confidence that if I could manage my service games I was going to get looks on her serve said Riske who entered the tournament unseeded and ranked 55th in the world I had to play aggressive I had to take it to Ash
Riske advances to face Serena Williams NYSE WMB on Tuesday in the Wimbledon quarterfinals Williams downed Carla Suarez Navarro 6 2 6 2 on Monday in a dominant 64 minute exercise
The 37 year old Williams advanced to the quarterfinals at Wimbledon for the 14th time
Last time I played a fellow American I lost so I want to do well this time Williams said of meeting Riske She is great on the grass I will be ready for it
Field Level Media |
BMY | Relypsa Up On CRL For AstraZeneca Hyperkalemia Drug | Shares of Relypsa Inc NASDAQ RLYP gained 8 8 after AstraZeneca plc NYSE AZN received a Complete Response Letter CRL from the FDA for its New Drug Application NDA for ZS 9 for the treatment of hyperkalemia high potassium level in blood serum The CRL cited observations from a pre approval manufacturing inspection The agency is also yet to review the recently submitted data on ZS 9 AstraZeneca stated that it is currently evaluating the contents of the CRL and intends to work closely with the FDA to determine the next step for getting the filing back on track ZS 9 was added to AstraZeneca s pipeline following its acquisition of ZS Pharma in Dec 2015 A delay on the approval of ZS 9 comes as great news for Relypsa which would otherwise have faced tough competition for its recently approved drug Veltassa in the hyperkalemia space We note that Veltassa s approval in the U S in Oct 2015 marked the first new drug approved in more than 50 years for the treatment of hyperkalemia However the approval was accompanied with a black box label warning patients against the use of other oral medications within 6 hours of taking Veltassa The market for the treatment of hyperkalemia is huge given the addressable patient population of about 3 million in the U S In the first quarter of 2016 Relypsa generated Veltassa sales of 0 6 million Meanwhile last week Relypsa submitted a supplemental New Drug Application sNDA to the FDA requesting label changes for the drug for oral suspension based on data from a phase I drug drug interaction studies in healthy volunteers We expect investors to focus on further updates on the regulatory approval of ZS 9 as well as a label change for Veltassa Currently both Relypsa and AstraZeneca carry a Zacks Rank 3 Hold A couple of better ranked stocks in the health care sector include Bristol Myers Squibb Company NYSE BMY and Pfizer Inc NYSE PFE both sporting a Zacks Rank 1 Strong Buy Want the latest recommendations from Zacks Investment Research Today you can download 7 Best Stocks for the Next 30 Days |
BMY | Intercept s ICPT Liver Dug Ocaliva Approved By The FDA | Intercept Pharmaceuticals Inc NASDAQ ICPT announced that the FDA has granted accelerated approval to Ocaliva obeticholic acid in combination with ursodeoxycholic UDCA for the treatment of primary biliary cholangitis PBC previously known as primary biliary cirrhosis in adults with an inadequate response to UDCA or as monotherapy in adults who are intolerant to UDCA The FDA has approved Ocaliva under its accelerated approval program based on a reduction in alkaline phosphatase ALP since an improvement in survival or disease related symptoms has not been established yet Continued approval in this indication may be contingent upon verification and description of clinical benefit in confirmatory trials Results from the phase III POISE trial showed that Ocaliva in combination with UDCA or as monotherapy in UDCA intolerant patients led to the primary composite endpoint in 46 of patients in the titration group as compared to 10 on the placebo arm when added to UDCA Our TakeOcaliva s approval for PBC will provide a major boost to Intercept Pharma after the recent setback The company does not have any approved drug in its portfolio We remind investors that the FDA had extended the Prescription Drug User Fee Act PDUFA date for priority review of Ocaliva by three months in Dec 2015 The agency was previously supposed to give a decision by Feb 29 2016 However it requested additional clinical data analyses resulting in a delay In Apr 2016 the FDA s Gastrointestinal Drugs Advisory Committee GDAC voted unanimously in the ratio of 17 to 0 in favor of Ocaliva s approval We note that UDCA is the only drug currently approved in the U S for the treatment of PBC PBC affects approximately one in 1 000 women aged over 40 years Hence there is significant unmet need for therapies in this space Meanwhile a marketing authorization application for Ocaliva for the treatment of PBC was accepted by the European Medicines Authority EMA in Jun 2015 and is currently under review A decision is expected later in 2016 Intercept Pharma currently carries a Zacks Rank 3 Hold Some better ranked stocks in the health care sector include Pfizer Inc NYSE PFE Bristol Myers Squibb Company NYSE BMY and ANI Pharmaceuticals Inc NASDAQ ANIP All the three stocks sport a Zacks Rank 1 Strong Buy |
BMY | AstraZeneca Reports Positive Phase III Data On Faslodex | AstraZeneca plc NYSE AZN announced positive data from a phase III study FALCON on its breast cancer drug Faslodex fulvestrant 500mg for the treatment of locally advanced or metastatic breast cancer in post menopausal women who have not received prior hormonal treatment for hormone receptor positive HR breast cancer The FALCON study evaluated the anti tumor effects and tolerability profile of Faslodex plus placebo in comparison to Arimidex anastrozole 1mg plus placebo Data from the study demonstrated superiority of Faslodex 500mg over Arimidex 1mg thereby meeting the primary endpoint of extended progression free survival The study however showed an adverse event profile which is consistent with the current safety profile of the drugs Currently the company is evaluating results from the study and expects to present the same at a medical meeting later this year We note that Faslodex is currently approved in the U S for the treatment of postmenopausal women with estrogen receptor ER positive locally advanced or metastatic breast cancer whose cancer has progressed following anti estrogen therapy The drug is also approved in the U S in combination with Pfizer Inc s NYSE PFE Ibrance palbociclib for the treatment of HR human epidermal growth factor receptor 2 negative HER2 advanced or metastatic breast cancer in women whose cancer has progressed after endocrine therapy In the first quarter of 2016 Faslodex generated sales of 190 million up 18 year over year Meanwhile in a separate press release the company announced that the European Medicines Agency s Committee for Medicinal Products for Human Use CHMP has rendered a positive opinion on its Onglyza Farxiga tablets The Committee has recommended the approval of a fixed dose combination of Onglyza saxagliptin and Farxiga dapagliflozin for the treatment of adults with type II diabetes The combination was recommended to be approved as a treatment to improve glycemic control in cases where metformin and or sulphonylurea and one of the mono components of Onglyza Farxiga alone do not provide adequate glycemic control or when a patient is already being treated with the free combination of Onglyza and Farxiga A final decision on the approval is expected in the coming months Currently AstraZeneca carries a Zacks Rank 3 Hold Bristol Myers Squibb Company NYSE BMY and ANI Pharmaceuticals Inc NASDAQ ANIP are a couple of better ranked stocks in the health care sector Both stocks sport a Zacks Rank 1 Strong Buy Want the latest recommendations from Zacks Investment Research Today you can download 7 Best Stocks for the Next 30 Days |
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