This morning, we added small cap mobile communication equipment and content stock KVH Industries, Inc (NASDAQ: KVHI) to our Elite Opportunity Pro (EOP) portfolio as the Company iswell positioned for industrial mobile connectivity growth over land and sea. KVH Industries is a leading provider of in-motion satellite TV and communications systems, having designed, manufactured, and sold more than 200,000 mobile satellite antennas for applications on vessels, vehicles and aircraft. The Company is also a leading news, music, and entertainment content provider to many industries including maritime, retail and leisure. In addition, Videotel (a KVH company) is a market-leading provider of training films, computer-based training and eLearning.
On the fundamental side, our EOP newsletter noted:
stock market today chart: U.S. Bancorp(USB)
- [By John Maxfield]
One of this era’s most successful bankers has decided to relinquish the reins. U.S. Bancorp (NYSE:USB) announced on Tuesday that chairman and CEO Richard Davis will step down from his role as CEO at the bank’s annual meeting in April. He’ll stay on as executive chairman of the board, while President and COO Andy Cecere will succeed him in the corner office.
- [By Sarfaraz Khan]
In addition to this, Warren Buffett has also built sizable positions in a number of major US banks.Wells Fargo (NYSE:WFC), U.S. Bancorp (NYSE:USB)and Goldman Sachs (NYSE:GS)have the leading positions in Berkshire Hathaways portfolio. In fact, Wells Fargo is Berkshire Hathaway’s second largest stock holding. In addition to this, Berkshire Hathaway also owns $5 billion worth of Bank of Americas preferred shares and warrants to buy 700 million of the banks ordinary shares at just $7.14 (current price $22.10) anytime until September 2021. These banks are positioned to become the biggest beneficiaries of the increase in interest rates. To get an idea of how this might happen, consider Bank of Americas forecast in which it predicted a $7.5 billion boost to annual net interest income following a 1-percentage-point increase in interest rates.
stock market today chart: CarMax Inc(KMX)
- [By Ben Levisohn]
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.
- [By Lisa Levin]
CarMax, Inc (NYSE: KMX) reported better-than-expected earnings for its fourth quarter.
CarMax reported Q4 earnings of $0.81 per share on revenue of $4.05 billion. Analysts expected earnings of $0.79 per share on revenue of $3.93 billion.
- [By Craig Jones]
Jon Najarian spoke about high options activity in CarMax, Inc (NYSE: KMX). He said traders are buying upside calls, the 75 strike calls and higher. Jon Najarian decided to buy calls in the name and he's planning to hold them for 10 days.
- [By Ben Levisohn]
Yesterday, I dubbed the selloff in auto stocks “car-pocalypse now,” as shares of everything car related tumbled following disappointing auto sales. Shares of General Motors (GM) and Ford Motor (F)? Check. Auto-part makers like BorgWarner (BWA)? Check. Used-car sellers like AutoNation (AN) and CarMax (KMX)? Check. Auto-part retailers like O’Reilly Automotive (ORLY) and AutoZone (AZO)? Oh yeah. So is it time to panic?
stock market today chart: iShares Core S&P Mid-Cap (IJH)
- [By WWW.GURUFOCUS.COM]
For the details of Lubar & Co., Inc’s stock buys and sells, go to www.gurufocus.com/StockBuy.php?GuruName=Lubar+%26+Co.%2C+Inc
These are the top 5 holdings of Lubar & Co., IncEnLink Midstream LLC (ENLC) – 1,882,007 shares, 37.97% of the total portfolio. Shares added by 0.40%Hallador Energy Co (HNRG) – 2,788,685 shares, 23.23% of the total portfolio. Vanguard Value ETF – DNQ (VTV) – 77,126 shares, 7.65% of the total portfolio. iShares Core S&P Mid-Cap (IJH) – 38,400 shares, 6.84% of the total portfolio. New PositionVanguard Mid-Cap Value ETF – DNQ (VOE) – 61,550 shares, 6.52% of the tota
stock market today chart: Ellie Mae, Inc.(ELLI)
- [By WWW.THESTREET.COM]
Ellie Mae (ELLI) was downgraded to sector perform from outperform at RBC Capital. $90 price target. The company is leveraged to lower expected refinance activity, RBC said.
- [By Brian Stoffel]
For a long time, low rates were a huge boon to Ellie Mae (NYSE:ELLI), which offers subscribers access to the Encompass platform. Encompass helps streamline the mortgage origination process.
- [By Jason Hall, Brian Stoffel, and Brian Feroldi]
With that idea in mind, we asked three of our top contributors to write about a stock they see as being a bargain today, and they gave us mortgage industry software lynchpinEllie Mae Inc(NYSE:ELLI), real estate holding companyStore Capital Corp(NYSE:STOR), and steelmaker extraordinaireNucor Corporation(NYSE:NUE).
- [By Jason Moser]
Not intimidated by the Fed’s 25-basis-point rate hike in December, Jason chose Ellie Mae (ELLI), a company with a leading cloud productthat facilitates and streamlines the mortgage originations process.
“Its primary offering, Encompass, is a cloud-based one-stop shop for mortgage originators, allowing them to manage the loan process from start to finish,” Moser says. And by streamlining the process, Ellie Mae’s Encompass “increases efficiency and loan quality, reduces documentation errors, and helps keep everyone out of regulatory trouble.”
With trailing revenues just below $250 million, Moser pegs the market opportunity as a $5 billion pie, and thinks ELLI will prove to be one of the best stocks to buy for 2016.
- [By Lee Jackson]
These companies also reported insider selling last week:Corcept Therapeutics Inc. (NASDAQ: CORT), Customers Bancorp Inc. (NYSE: CUBI), Ellie Mae Inc. (NYSE: ELLI), Fiserv Inc. (NASDAQ: FISV) and Ulta Beauty Inc. (NASDAQ: ULTA).
- [By Brian Stoffel]
HR and payroll specialist Paycom Software (NYSE:PAYC), mortgage software provider Ellie Mae (NYSE:ELLI), and cloud computing king for drug companies Veeva Systems (NYSE:VEEV) are the three best software companies you could buy in 2017. They share three key traits that any investor can love: high switching costs, blazing growth rates, and founders or CEOs with lots of skin in the game.
stock market today chart: Regeneron Pharmaceuticals, Inc.(REGN)
- [By Chris Lange]
Shares of Amgen Inc. (NASDAQ: AMGN) saw a handy gain to close out the week after the company won a Delaware court ruling that blocked Sanofi (NYSE: SNY) and Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) from selling their cholesterol-lowering drug in the United States. Essentially the court found that the drug Praluent actually infringed upon Amgens patents for its rival treatment Repatha.
- [By Ben Levisohn]
Regeneron Pharmaceuticals (REGN) tumbled to the bottom of the S&P 500 today after a judge said the company could be forced to stop selling an anti-cholesterol drug due to violating an Amgen (AMGN) patent.
Agence France-Presse/Getty Images
Regeneron Pharmaceuticalsdropped 5.8% to $358.68 today, while the S&P 500 rose 0.4% to 2,276.98.
Chardan’sGbola Amusa takes a victory lap:
Yesterday, after markets closed, it was announced that US Federal District Court Judge Sue Robinson ruled to issue a permanent injunction against Praluent, the PCSK9 mAb for hypercholesterolemia from partners Regeneron and Sanofi, due to infringement of patents from Amgen. The court has imposed a 30-day suspension (stay) on the injunction to allow for settlement or appeal of the District Court decision. Sanofi and Regeneron have announced their intent to appeal the ruling to the US Court of Appeals for the Federal Circuit (CAFC). The injunction decision is consistent with our counter-consensus published views communicated on 25 January 2016 (“Downgrade to Sell on evidence of likely infringement of Amgen’s PCSK9 patents”) and subsequently. Based on consultation with expert legal counsel, we now put >75% probability Amgen will prevail on appeal and/or Praluent is ultimately removed from the US market, and/or Amgen achieves a settlement substantially in its favor. We currently model $3.3 bn in non-risk-adjusted 2022E US revenues for Praluent, while consensus models $1.2 bn in 2022E US revenues. We reiterate our view from 25 January 2016 to preferentially own Amgen, The Medicines Company (MDCO) (Buy), and Alnylam (ALNY) (Buy) over Regeneron for exposure to PCSK9 inhibitor market dynamics as outcomes trials approach.
While the loss is bad news for Regeneron, Barron’s Johanna Bennettargues that it could herald a comeback for Amgen.
Regeneron’s market capitalization fell to $38.5 billion today from $40.2 bil
- [By Ben Levisohn]
After years of rising and falling in tandem, the biotech sector is all about stock picking now. Credit Suisse analyst Alethia Young and team, for instance, upgraded Regeneron Pharmaceuticals (REGN), and added Celgene (CELG) to its Focus List today. But Amgen (AMGN) wasn’t so lucky as Young cut it to Neutral from Outperform. She explains why:
- [By Ben Levisohn]
Regeneron Pharmaceuticals (REGN) soared to the top of the S&P 500 today after a competitor’s competing drug failed a Phase 3 trial.
Regenerongained 3.8% to $387.10 today, while the S&P 500 declined 0.1% to 2,256.96.
RBC’s Adnan Butt and Michael Yee offer their take:
Two Phase 3 studies comparing Ophthotechs (OPHT) Fovista plus Lucentis to Lucentis alone did not meet the primary endpoint of demonstrating a better vision for the combination at 12 months. The improvements were 10.24 letters for the combo vs. 10.01 for Lucentis when the two Phase 3s were combined. Individually, one Phase 3 showed combo improvement of 10.74 letters vs. 9.82 letters alone and the second 9.91 letters vs. 10.36 letters with Lucentis alone. A third Phase 3 study combining Fovista with Eylea or Avastin is ongoing…
Big overhang removed; [Regeneron] shares should be up and then continue to rise with the focus moving to dupilumab. Overhang was that Fovista success and approval could disrupt the market for Eylea as more docs tried combining nearly free Avastin (off-label) with Fovista to improve outcomes with patients. We had always argued that even under that scenario Eylea would be used since it is the most potent agent. We are buyers at current level especially ahead of the upcoming dupilumab launch.
Regeneron’s market capitalization rose to $51.5 billion today from $39.3 billion yesterday. It reported net income of $636 million on sales of $4.1 billion in 2015.