Small cap poultry processing stock Sanderson Farms, Inc (NASDAQ: SAFM) reported Q2 2017 earnings before the market opened this morning as shares still have elevated short interest of 27.73% according to Highshortinterest.comdue in part to fears over bird flu that have probably subsided. Net sales were $802.0 million versus $692.1million while net income was $66.9 million versus net income of $47.6 million. Overall market prices for poultry products were higher during the second quarter compared with the same period last year while market prices for chicken products sold to retail grocery store customers remained relatively strong during the quarter and continue to reflect good demand. The earnings release noted:
Compared with the second fiscal quarter of 2016, boneless breast meat market prices were approximately 9.1 percent higher, the average market price for bulk leg quarters increased approximately 17.2 percent, and jumbo wing market prices were higher by 5.1 percent. The Company’s average feed costs per pound of poultry products processed were essentially flat when compared with the second quarter of fiscal 2016, while prices paid for corn and soybean meal, the Company’s primary feed ingredients, decreased 0.4 percent and increased 15.0 percent, respectively, compared with the second quarter of fiscal 2016. The Company’s feed costs per pound processed were affected by changes in feed formulation and improved broiler performance.
stock valuation: Rockwell Automation, Inc.(ROK)
- [By Lee Jackson]
These companies also reported insider selling last week: Aetna Inc. (NYSE: AET), Cullen/Frost Bankers Inc. (NYSE: CFR), Rockwell Automation Inc. (NYSE: ROK), Stamps.com (NASDAQ: STMP) and Western Alliance Bancorporation (NYSE: WAL).
- [By Lisa Levin]
Cisco Systems, Inc. (NASDAQ: CSCO) reported better-than-expected profit for its first quarter on Wednesday.
Helmerich & Payne, Inc. (NYSE: HP) posted upbeat results for its fourth quarter.
NetApp Inc. (NASDAQ: NTAP) reported stronger-than-expected results for its second quarter and issued strong Q3 guidance.
Emerson Electric Co. (NYSE: EMR) proposed to acquire Rockwell Automation (NYSE: ROK) for $225 per share in cash and stock.
- [By Paul Ausick]
Blaming the unwillingness of its target even to discuss a buyout, Emerson Electric Co. (NYSE: EMR) on Tuesday announced that it has withdrawn its unsolicited offer to acquire Rockwell Automation Inc. (NYSE: ROK) for $225 a share in a deal valued at nearly $30 billion.
- [By Ben Levisohn]
Bernstein’s Steven Winoker looks back at 2016 for the industrial stocks he covers–Ingersoll-Rand (IR), Rockwell Automation (ROK), Eaton (ETN), and General Electric (GE) among them–and contemplates what 2017 might hold:
stock valuation: Eagle Bancorp, Inc.(EGBN)
- [By Paul Ausick]
Eagle Bancorp Inc. (NASDAQ: EGBN) dropped 28% Friday to post a new 52-week low of $47.65 after closing at $66.15 on Thursday. The stock’s 52-week high is $69.80. Volume of around 3.6 million was more than three times the daily average. The bank holding company had no specific news Friday.
- [By Lisa Levin]
On Monday, the financial sector proved to be a source of strength for the market. Leading the sector was strength from Eagle Bancorp, Inc. (NASDAQ: EGBN) and BankUnited (NYSE: BKU).
stock valuation: Biotricity (BTCY)
- [By Peter Graham]
Finally, small cap Biotricity (OTCQB: BTCY)is an entirely different wearables play as its a medical technology company whos mission is to revolutionize chronic care management by developing innovative solutions that bridge the gap between diagnostic care and disease management. More specifically, biotricity is focused on delivering innovative, remote biometric monitoring solutions to the healthcare and consumer markets -including diagnostic and post-diagnostic solutions for chronic conditions and lifestyle improvement. biotricitys R&D is focused on the preventative healthcare market as the company aims to support the self-management of critical and chronic conditions to ease the growing burden on the healthcare system.
- [By James E. Brumley]
Biotricity Inc (OTCMKTS:BTCY), a developer of remote health-monitoring devices, reminded us not so gently today that while it’s waiting on the last of the necessary approvals from the FDA for its hardware, it’s still moving the ball downfield (so to speak). That is to say, it’s already lined up a manufacturer for its so-called Bioflux cardiac monitor for when the last green light is given, and it’s a good one…. Providence Enterprise . That’s the same company that makes some of the equipment and goods within your sight right now.
Biotricity is the name behind two pieces of technology, both of which are nearing the end of their development. One is the aforementioned Bioflux, and the other is called biolife…. the latter for use by individuals outside of a clinical setting. Neither is on the market yet, but both are projected to be on the market this year. In fact, the company demonstrated its IoT-connected bioflux at this year’s Mobile World Congress (MWC) 2017 in Barcelona, Spain a couple of weeks ago. The crowd liked what it saw.
The marketable version of the device isn’t available yet; it’s still going through the approval process. The company recently filed a 510k request with the FDA for its bioflux technology (the 510k path is for medical devices rather than drugs, and as such doesn’t require a lot of regulatory deliberation), and has heard back from the FDA about a key part of the device already – it got the green light. Another arm of the FDA must look at other aspects of the device, and that portion of the review takes longer.
Still, the company is rightfully optimistic, so much so that it’s already lined up a company to manufacture the Bioflux device once the final approval and final specs are in. That company is Providence Enterprise, which has a long history in making drug delivery and diagnostic equipment, as well as plenty of experience making electronics. The Bioflux will be a blend of both capabilities.
- [By Robert J. Smith]
Biotricity (OTCBB: BTCY) is a comer in the rapidly growing medical device market and is a small cap to take notice of. Driving this lucrative market are; IoT-driven device connectivity, governmental pressure to cut healthcare costs, escalating hospital costs, a need to reduce hospital readmission rates, an aging population, and a high rate of people with chronic disease. The largest factor driving this market is the rapidly growing rate of those afflicted with chronic disease.
- [By Matthew Briar]
Biotricity Inc (OTCMKTS:BTCY) announced on Tuesday morning it was teaming up with Global to Local (G2L) to develop remote monitoring solutions that not only work, but serve the underserved (medically speaking) community. This partnership is of particular interest to current and would-be BTCY investors, as it will likely validate the crux of the work the company has done thus far.
Biotricity is the developer of two different though related technologies. One is called bioflux, and the other is called biolife. Both are heart-monitoring devices… the former for use by caregivers in a clinical setting, while the latter is for use by individuals outside of a clinical setting. Neither is on the market yet, but both are projected to be on the market next year. The company recently filed a 510k request with the FDA for its bioflux technology (the 510k path is for medical devices rather than drugs, and as such doesn’t require a lot of regulatory deliberation), and has heard back from the FDA about a key part of the device already – it got the green light. Another arm of the FDA must look at other aspects of the device.
The technology is unique, in that it not only provides stunningly accurate detailed information about a patient’s heart function, but it constantly feeds that data – remotely – to a caregiver and monitor that can make good use of that data. In August the company announced AT&T Inc. (NYSE:T) would be handling the wireless (cellular) connectivity between clinics and patients’ bioflux devices.
It’s a breakthrough, for many reasons, not the least of which is that remote monitoring lowers overall healthcare costs for those patients, and ultimately, for insurers.
The hardware is not yet available on a commercial basis, but it is being tested in a clinical setting. The Global to Local partnership will be another field test of sorts, validating the work Biotricity has performed on the R&D front.
The organization says
- [By James E. Brumley]
While the economy’s natural — and recurring — cycles favor different kinds of stocks at different times, not every great trend is necessarily a cyclical one. Sometimes, a trend is rooted in a technological development that changes cultural norms. The advent of the smartphone, for example, has made constant connectivity to the world around part of how we live our daily lives.
These mega-trends present tremendous opportunities for investors too, provided they’re savvy enough to see them coming and play them the right way.
One such mega-trend newly underway right now is the proliferation of wearables… devices that meld clothing (often a wrist-worn device) and technology to perform a function that couldn’t be performed otherwise. Much of the same technology that made the smartphone possible are now ushering in wearables.
It’s not been a smooth beginning. however.
While the buzz was strong and expectations reached a peak two years ago when Fitbit Inc (NYSE:FIT) was all the rage and in the wake of its IPO, the company’s growth wasn’t to be sustained. The company is struggling to muster any growth now, and FIT shares have fallen to a tenth of their value seen in late-2015, when the euphoria was strongest.
Fitbit’s slowdown has been mirrored by other companies in the space. The wearables market only grew 3.1% in Q3 of 2016.
On the flipside, while the debacle of Fitbit — the wearable industry’s iconic company — has been a painful, it’s also been a learning experience. And, it’s not as if the slowdown is unfurling without the wearables market never reaching a respectable size. International Data Corporation estimates were 23 million ‘wearables’ delivered in the third quarter of last year alone.
Moreover, the fizzling of the market hasn’t turned into a reason to swear off wearables as an investment opportunity… quite the opposite, actually. It’s just now become considerably clearer what consumers want an
stock valuation: Computer Programs and Systems Inc.(CPSI)
- [By Lisa Levin]
Shares of Computer Programs & Systems, Inc. (NASDAQ: CPSI) were down 31 percent to $27.00 after the company posted weaker-than-expected Q2 results.
stock valuation: Roadrunner Transportation Systems, Inc(RRTS)
- [By Dan Caplinger]
Tuesday was another down day for the Dow Jones Industrials, which fell more than 100 points to drop further below the 20,000 level. But broader market measures were mixed, and the Nasdaq Composite even managed to gain ground. Continued uncertainty about the impact of new policies from the U.S. federal government have kept markets a bit turbulent, and the beginning of a two-day meeting of the Federal Reserve’s Open Market Committee could set the tone for monetary policy in 2017. Some stocks had bad news that sent them lower today, and among the worst performers were Seadrill (NYSE:SDRL), Roadrunner Transportation Systems (NYSE:RRTS), and Tempur Sealy International (NYSE:TPX). Below, we’ll look more closely at these stocks to tell you why they did so poorly.
stock valuation: United States Steel Corporation(X)
- [By Shanthi Rexaline]
Even as there is a scramble toward achieving $1 trillion market cap, Benzinga looked at United States Steel Corporation (NYSE: X), which was the first company ever to be capitalized at over $1 trillion. The history of the steel maker is a checkered one, and over the years, it has lost its shine and appeal and is currently looking a pale shadow of its old self.
- [By Lee Jackson]
These companies also reported insider buying last week: Apache Corp. (NYSE: APA), Halliburton Co. (NYSE: HAL), Revlon Inc. (NYSE: REV), Valeant Pharmaceuticals International Inc. (NYSE: VRX) and U.S. Steel Corp. (NYSE: X).
- [By Lee Jackson]
This is the granddaddy of the domestic steel producers and another stock rated Buy at Deutsche Bank.United States Steel Corp. (NYSE: X) is an integrated producer of flat carbon steel and pipe with a total 22million tons of capacity in North America and Slovakia.
- [By Merrick Weingarten]
Steel stocks were up big on Tuesday ahead of the Department of Commerce hearing on the Section 232 probe. The DoC is set to come out with more details regarding the impact steel imports has on U.S. national security.
United States Steel Corporation (NYSE: X): Up 5.27 percent. AK Steel Holding Corporation (NYSE: AKS): Up 9.55 percent. Nucor Corporation (NYSE: NUE): Up 3.54 percent. Steel Dynamics, Inc. (NASDAQ: STLD): Up 4.08 percent. Worthington Industries, Inc. (NYSE: WOR): Up 3.29 percent.
A Jefferies research analyst suggested a high probability of the DoC institutes more incremental trade defense measures but noted most of the investigation remains unknown going into Wednesday.