BUSINESS/FINANCE NEWS
Setup News Ticker
   BUSINESS/FINANCE NEWS
Searching for 'COVID-19 Company'. (Return)

MarketWatch MarketPulseAug 05, 2020
Disney stock gets an upgrade at Guggenheim amid new streaming push
Walt Disney Co.'s plans to get more aggressive with streaming as the pandemic hammers other areas of the media conglomerate helped earn the stock an upgrade from Guggenheim analyst Michael Morris after the company's Tuesday afternoon earnings report. Morris raised his rating on Disney shares to buy from neutral and upped his price target to $140 from $123 after Disney said it would launch a new streaming service overseas under the "Star" brand and release live-action "Mulan" as a direct-to-consumer option on Sept. 4 given disruptions to the traditional theater model due to COVID-19. "Using Disney assets to accelerate a push into DTC will likely be well received by investors," Morris said in his Wednesday morning note to clients. "Bottom line, as we head toward an investor day (in the coming months), we expect the burden of proof to be on why Disney will not be a secular streaming winner rather than justifying the company's ability to deliver on investor expectations." He saw hints in the company's language that may have signaled "a broader willingness to pursue additional opportunities" in streaming down the road, in his view. Disney shares are up 6.6% in premarket trading Wednesday. They've lost 19% so far this year as the S&P 500 has risen 2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseAug 05, 2020
J&J to receive $1 billion in U.S. funding to make 100 million doses of its COVID-19 vaccine
Shares of Johnson & Johnson gained 0.8% in premarket trading on Wednesday after the company said it will receive more than $1 billion from the U.S. government to manufacture 100 million doses of its investigational COVID-19 vaccine. The vaccine will be provided at a "global not-for-profit basis for emergency pandemic use," J&J said. The company's vaccine candidate recently entered the Phase 1/2a clinical trial, which is taking place in Belgium and the U.S. J&J's stock is up 0.9% year-to-date, while the S&P 500 has gained 2.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



RELATED ARTICLES
Moderna's stock rallies as it moves forward with enrolling its Phase 3 COVID-19 vaccine trial (MarketWatch MarketPulse)
Novavax Covid-19 Vaccine Results Send Investors on Wild Ride (Yahoo Business)

MarketWatch MarketPulseAug 05, 2020
Regeneron's stock rallies toward a record after profit, revenue beat expectations
Shares of Regeneron Pharmaceuticals Inc. ran up 3.2% toward a record high in premarket trading Wednesday, after the biotechnology company reported second-quarter profit and revenue that beat Wall Street expectations, and said it expects clinical studies to remain generally on track in the face of the COVID-19 pandemic. Net income rose to $897.3 million, or $7.61 a share, from $193.1 million, or $1.68 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to $7.16, above the FactSet consensus of $5.91. Revenue rose to $1.95 billion from $1.58 billion, topping the FactSet consensus of $1.73 billion, as product sales and Sanofi collaboration revenue beat expectations, while Bayer collaboration revenue fell a bit shy. "We have advanced REGN-COV2, our antibody cocktail for COVID-19, into late-stage clinical studies in record time and are working to ensure supply is available later this year," said Chief Executive Leonard Schleifer. The stock has soared 72.7% year to date through Tuesday, while the S&P 500 has gained 2.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseAug 05, 2020
New York Times tops Q2 estimates as digital revenue exceeds print revenue for the first time
The New York Times Co. posted better-than-expected earnings for the second quarter on Wednesday, and said digital revenue exceeded print revenue for the first time. The newspaper group said it had net profit of $23.7 million, or 14 cents a share, in the quarter, down from $25.2 million, or 15 cents a share, in the year-earlier period. Adjusted per-share earnings came to 18 cents, ahead of the 3 cents FactSet consensus. Revenue fell 7.5% to $403.8 million from $436.3 million, but beat the $390.0 million FactSet consensus. "We believe that the significant growth over the last several years in subscriptions to our products demonstrates the success of our "subscription-first" strategy and the willingness of our readers to pay for high-quality journalism," the company said in a statement. New York Times added 493,000 net new subscribers to its core news product in the quarter, and 176,000 additions to other digital products for net new digital additions of 669,000. At quarter-end, it had 5.7 million digital-only subscribers and 6.5 million total subscriptions, said CEO Mark Thompson, who is handing the reins to COO Meredith Kopit Levien in September. Advertising revenue fell 43.9% in the quarter, while subscription revenue rose 7.5% and other revenue fell 5.0%. Digital ad revenue fell 31.9%, while print ad revenue was down 55%. "Print advertising revenue decreased as the COVID-19 pandemic further accelerated secular trends, largely impacting the entertainment, luxury, and technology categories," said the statement. The company is expecting subscription revenue to rise about 10% in the third quarter, while digital-only subscription revenue is expected to rise about 30%. Ad revenues are expected to decline about 35% to 40%, with digital ad revenue expected to fall about 20%, mostly due to the pandemic. Shares were not active premarket, but have gained 45% in the year to date, while the S&P 500 has gained 2.3%.

Market Pulse Stories are Rapid-fire, short new


MarketWatch MarketPulseAug 05, 2020
CVS shares jump premarket after earnings trounce estimates, company raises full-year guidance
CVS Health Corp. shares soared 3.8% in premarket trade Wednesday, after the drugstore chain trounced estimates for the second quarter and raised its full-year guidance despite the impact of the coronavirus pandemic on its operations. The company had net income of $2.986 billion, or $2.26 a share, in the quarter, up from $1.931 billion, or $1.49 a share, in the year-earlier period. Adjusted per-share earnings came to $2.64, well ahead of the $1.91 FactSet consensus. Revenue rose to $65,341 billion from $63.431 billion, also ahead of the $64.004 billion FactSet consensus. The company said the COVID-19 pandemic adversely affected revenue in the retail and pharmacy services segments, mostly due to fewer new therapy prescriptions due to lower provider visits. Front store revenue was hurt by shelter-in-place orders. CVS raised its full-year EPS guidance and now expects it to range from $5.59 to $5.72, up from a prior range of $5.47 to $5.60. It expects adjusted EPS to range from $7.14 to $7.27 versus a prior range of $7.04 to $7.17. Shares have fallen 13% in the year to date, while the S&P 500 has gained 2.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseAug 05, 2020
Humana's stock set to rally after profit, revenue rise above expectations
Shares of Humana Inc. were indicated up nearly 3% in premarket trading Wednesday, after the health care services company reported second-quarter profit and revenue that beat expectations, while maintaining its adjusted earnings outlook. Net income rose to $2.59 billion, or $13.75 a share, from $1.07 billion, or $6.94 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share rose to $12.56 from $6.05, above the FactSet consensus of $10.27. Revenue grew 17.5% to $19.08 billion, topping the FactSet consensus of $18.64 billion. The company said as a result of the COVID-19 pandemic, admissions and utilization were "significantly depressed" in April, then increased through May and June, and were "modestly below normal" at the end of the quarter. Humana affirmed its 2020 adjusted EPS guidance range of $18.25 to $18.75, but nudged up its full-year individual Medicare Advantage membership growth outlook to 330,000 to 360,000 members from 300,000 to 350,000 members. The stock has gained 6.7% year to date through Tuesday, while the SPDR Health Care Select Sector ETF has tacked on 4.2% and the S&P 500 has gained 2.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



AdWeek NewsAug 04, 2020
Verizon's CMO on 5G, Back-to-School and the Pandemic-Era Trends Here to Stay
Covid-19 has upended the way consumers interact with brands in many different industries. For Verizon, a telecommunications company that's recently transitioned into a tech brand as it expands its offerings outside of network coverage, the pandemic has changed how its customers engage with their network, for both technology and work-related needs. Diego Scotti, Verizon's chief...
TRENDING TAGS
Coronavirusvaccine latest deal White updates
Stockearnings market beat Buy July
COVID-19vaccine results Novavax test million
Pandemicduring How Coronavirus Disney amid
DisneyBillion earnings Pandemic streaming Nearly
earningsQ2 Call Transcript Inc Stock
TikTokMicrosoft Trump China Lawsuit Ban
Goldabove record time hedge funds
ChinaTikTok US-China tensions far ahead
BillionDisney deal Teladoc Livongo Health

NEWS SOURCES
Top News (Business News)
Accounting Today
AdWeek News
Banking Business Review
Barron's This Week Magazine
Barron's Up and Down Wall Street Daily
Brad Ideas
Chicago Tribune Business News
CNBC Business
CNBC Economy
CNBC Finance
CNN/Money
CNN/Money Real Estate News
Dismal.com: Analysis
Dismal.com: Indicators
Enterprise Application News
Entrepreneur.com
Forbes Headlines
Forbes Social Media News
FT.com - China, Economy & Trade
FT.com - Financial Markets
FT.com - Hedge Funds
FT.com - Telecoms
FT.com - US
Google Business News
Google Market News
HBS Working Knowledge
Inc.com
INSEAD Knowledge
International Tax Review
Kiplinger
Knowledge@Wharton
L.S. Starrett News
MarketWatch
MarketWatch Breaking News
MarketWatch MarketPulse
McKinsey Quarterly
MSNBC.com: Business
Nielsen Trends
NonProfit Times
NPR Topics: Business
NYTimes Business
OpinionJournal.com
Private Equity Breaking News
Reuters Business
Reuters Company News
Reuters Money
SEC.gov Updates: News Digest
SHRM HR News
Tax Policy News
The Economist International News
The Motley Fool
USA Today Money
Wall Street Journal US Business
Wall Street Transcript
Washington Post Business
WSJ Asia
WSJ Europe
WSJ MoneyBeat
WSJ Opinion
WSJ US News
WSJ World Markets
Yahoo Business
  • CEOExpress
  • 1 Boston Place | Suite 2600
    Boston MA 02108
  • 617 482 1200
    617 299 8649 (fax)
  • Contact
  • As an Amazon Associate
    CEOExpress earns from
    qualifying purchases.

©1999-2020 CEOExpress Company LLC