Stocks will try to rebound from yesterday’s Fed-Ryan double whammy this morning after jobless claims fell more than expected.
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S&P 500 futures have advanced 0.1%, while Dow Jones Industrial Average futures have ticked up 0.1%. Nasdaq Composite futures have risen 0.1%.
Bed Bath & Beyond (BBBY) has climbed 3% to $38.95 after beating earnings forecasts.
Medtronic (MDT) has risen 1.9% to $81.75 on reports that Cardinal Health (CAH) will buy its medical supplies business.
Jazz Pharmaceuticals (JAZZ) has jumped 6.3% to $149.45 after settling a patent dispute.
CarMax (KMX) gained 2.4% to $58 after beating earnings and sales forecasts.
Constellation Brands (STZ) has rallied 4.7% to $169 after beating earnings forecasts and offering optimistic guidance.
Hot Medical Stocks To Own For 2018: Scripps Networks Interactive Inc(SNI)
Advisors’ Opinion:
- [By Lisa Levin]
Discovery Communications Inc. (NASDAQ: DISCA) announced plans to acquire Scripps Networks Interactive, Inc. (NYSE: SNI) for $14.6 billion.
Discovery will pay $90 per share in cash and stock to buy Scripps. The transaction is projected to close by early 2018.
- [By Ben Levisohn]
Scripps Networks Interactive (SNI) sunk to the bottom of the S&P 500–narrowly beating out Apartment Investment and Management (AIV)–as the parent company of the Food Network and other channels gave back a chunk of its post-elections gains.
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Shares of Scripps Networks Interactive dropped 4.2% to $70.63 today, while the S&P 500 rose 0.8% to 2,180.39. Scripps had gained 13% from Nov. 8 through Nov. 14.
Scripps reported net income of $607 million on sales of $3 billion in 2015.
Barron’s David Englander recommended Scipps Networks’ former parent E.W. Scripps (SSP) back in August.
Hot Medical Stocks To Own For 2018: Abbott Laboratories(ABT)
Advisors’ Opinion:
- [By Matt Hogan]
AbbVie has distributed a significant amount of its earnings in the form of dividends (~60 percent) since the company spun off from Abbott Laboratories (NYSE: ABT) in 2013. The company appears to be trading at a 10 percent discount to fair value when applying similar assumptions in the 5-year dividend discount model as shown below.
- [By Sean Williams]
Finally, and as the icing on the cake, Wall Street uncovered via a Securities and Exchange Commission filing that Abbott Laboratories (NYSE:ABT) sold 44 million shares of Mylan stock at $41.60, reducing its remaining position in the company to 25.75 million shares, or about 4.8% of its outstanding shares. Considering all the issues Mylan has had recently, the fact that Abbott substantially pared its large holding in the company is a bit worrisome.
- [By WWW.THESTREET.COM]
In the Lightning Round, Cramer was bullish on Abbott Laboratories (ABT) , Dycom Industries (DY) and Howard Hughes (HHC) .
Cramer was bearish on Headwaters (HW) , EnergySolutions (ES) , Western Refining (WNR) and Horizon Pharmaceuticals (HZNP) .
Hot Medical Stocks To Own For 2018: CenturyLink, Inc.(CTL)
Advisors’ Opinion:
- [By Paul Ausick]
CenturyLink Inc. (NYSE: CTL) dropped about 3.4% Tuesday to post a new 52-week low of $13.16 after closing at $13.62 on Monday. The 52-week high is $27.61. Volume was around 14 million, less than 10% above the daily average of around 13 million. The telecom company had no specific news.
- [By Paul Ausick]
CenturyLink Inc. (NYSE: CTL) dropped about 7.8% Monday to post a new 52-week low of $17.07 after closing at $18.51 on Friday. The 52-week high is $30.39. Volume was around 21 million, about double the daily average of around 11 million. The company’s $34 billion acquisition of Level 3 Communications received FCC approval, but the company was hit with a charge of securities fraud.
- [By WWW.MONEYSHOW.COM]
Originally a rural telecom, CenturyLink (CTL) has grown via acquisitions to become a major provider of broadband, voice, video, and data.
It now provides services residential and business customers over a 250,000-route-mile US fiber network and a 300,000 mile international network.
- [By Ben Levisohn]
Very strong results across the board for Dycom, with spending from its top customers only further accelerating. We’re not surprised that FQ3 guidance came in slightly ahead of expectations, as many investors had viewed their initial guidance as conservative. We are encouraged to see organic growth re-accelerating in FQ4 to the mid-teens, with its acquired Goodman asset contributing $15MM of expected revenue (up from $13.4MM in FQ2). Dycom also procured new customer awards in the quarter from AT&T (T), Comcast (CMCSA), CenturyLink (CTL) and Windstream Holdings (WIN) to support further growth. Dycom also repurchased $25MM of shares during FQ2 and authorized an additional $75MM over the next 18 months, giving Dycom $150MM of incremental repurchase authorization through August 2018
- [By Paul Ausick]
CenturyLink Inc. (NYSE: CTL) posted a new 52-week low of $21.62 on Thursday, down about 8.9% from Wednesday’s closing price of $23.74. The stock’s 52-week high is $33.45. Volume totaled around 20 million shares, double the daily average of around 10 million. The telecom firm missed expectations this morning and lowered guidance — a potent one-two punch to the stock price.
- [By Paul Ausick]
CenturyLink Ink. (NYSE: CTL) dropped about 8.3% Wednesday to post a new 52-week low of $14.06 after closing at $15.33 on Tuesday. The stock’s 52-week high is $27.61. Volume of around 14 million was less than 10% above the daily average. The telecom company declared a quarterly dividend of $0.54 per share payable next month. The dividend yield on the stock is now over 14%, a level that always makes investors nervous. Shares are on track to close the day up nearly 3% on the dividend announcement.
Hot Medical Stocks To Own For 2018: Talisman Energy Inc.(TLM)
Advisors’ Opinion:
- [By Jayson Derrick]
On the other hand, the analysts are Underweight on Eni SpA (ADR) (NYSE: E), Repsol Oil & Gas Canada Inc (USA) (NYSE: TLM) and OMV AG given their asset bases, which offer an inferior risk to reward profile and limited differentiation in cost reductions.
Hot Medical Stocks To Own For 2018: TeleNav Inc.(TNAV)
Advisors’ Opinion:
- [By Lisa Levin]
Telenav Inc (NASDAQ: TNAV) shares were also up, gaining 16 percent to $8.15 after the company reported the settlement of patent lawsuit. The company projects Q2 revenue of $51 million to $52 million and loss of $0.30 per share to $0.28 per share.
Hot Medical Stocks To Own For 2018: Graham Corporation(GHM)
Advisors’ Opinion:
- [By Monica Gerson]
Graham Corporation (NYSE: GHM) is expected to report its quarterly earnings at $0.12 per share on revenue of $23.54 million.
Heico Corp (NYSE: HEI) is estimated to post its quarterly earnings at $0.54 per share.
