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Yahoo BusinessAug 05, 2020
Stock market news live updates: Stock futures rise after strong earnings; Gold tops $2,000 per ounce
Stock futures rose Wednesday morning as investors awaited more updates on stimulus talks out of Washington and another batch of corporate earnings and economic data reports. During the regular session, the Nasdaq logged a fifth straight session of gains and closed at a record, and the S&P 500 and Dow rose for a third straight day. Gold topped $2,000 per ounce.


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MarketWatch MarketPulseAug 05, 2020
AmerisourceBergen's stock surges toward 5-year high after profit and revenue beats, raised outlook
Shares of AmerisourceBergen Corp. surged 4.8% toward a 5-year high in premarket trading Wednesday, as the pharmaceutical products supplier reported fiscal third-quarter earnings that beat expectations and raised its full-year outlook. Net income for the quarter to June 30 fell to $289.4 million, or $1.41 a share, from $302.0 million, or $1.43 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to $1.85, above the FactSet consensus of $1.58. Revenue rose 0.3% to $45.37 billion, beating the FactSet consensus of $44.64 billion, as pharmaceutical distribution services revenue rose 0.1% to $43.6 billion and other revenue grew 4.4% to $1.8 billion, boosted by growth in its ABCS and World Courier businesses. For fiscal 2020, the company raised its adjusted EPS guidance range to $7.80 to $7.95 from $7.35 to $7.65. Revenue is now expected to grow in the mid-single digit percentage range, compared with previous guidance of low- to mid-single digit growth. The FactSet revenue consensus of $187.5 billion implies 4.4% growth. The stock has soared 23.2% 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.



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Regeneron's stock rallies toward a record after profit, revenue beat expectations (MarketWatch MarketPulse)

MarketWatchAug 05, 2020
Market Snapshot: Dow, S&P 500 futures point to fourth straight gain despite private-sector jobs report disappointment
U.S. stock-index futures pointed to gains early Wednesday as investors pored over corporate earnings results and largely brushed off a disappointing private-sector jobs report from ADP.

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The Motley FoolAug 05, 2020
Fulgent Genetics, Inc. Common Stock (FLGT) Q2 2020 Earnings Call Transcript
FLGT earnings call for the period ending June 30, 2020.

CNBC FinanceAug 05, 2020
Stock futures edge higher as investors await stimulus bill, more earnings
The Dow Jones Industrial Average rose for its third straight day on Tuesday.

MarketWatch MarketPulseAug 05, 2020
Wayfair's stock surges toward a record after swinging to big profit beat, as orders delivered more than doubled
Shares of Wayfair Inc. shot up 3.0% toward a record high in premarket trading Wednesday, after the online seller of home furnishings and housewares swung to a big profit beat in the second quarter, as orders delivered more than doubled. Net income was $273.9 million, or $2.54 a share, after a loss of $181.9 million, or $!.98 a share, in the year-ago period. Excluding non-recurring items, Wayfair swung to adjusted earnings per share of $3.13 from a per-share loss of $1.35, well above the FactSet consensus for EPS of 97 cents. Revenue soared 83.7% to $4.30 billion, beating the FactSet consensus of $4.07 billion. Orders delivered increased 106.2% to 18.9 million, while the average order value declined to $227 from $255. The number of active customers in the Direct Retail business grew 46.0% to 26.0 million. "We experienced unprecedented demand in Q2 and saw record numbers of new and repeat customers choose Wayfair," said Chief Executive Niraj Shah. The stock has more than tripled (up 221.8%) 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
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.



Yahoo BusinessAug 05, 2020
Square Reports Massive Q2 Earnings Beat, As Bitcoin Revenue Rises 600%
Square Inc (NYSE: SQ) beat analyst expectations in its second quarter earnings report Tuesday, as its mobile payment service Cash App netted significant profit, including from Bitcoin.Q2 Earnings: The Jack Dorsey-led company reported an adjusted earnings per share of 18 cents in Q2, down from the 21 cents posted in the similar quarter last year.This signficantly beat Wall Street estimates. Analysts polled by Refinitiv had estimated an average adjusted loss per share of 5 cents, as earlier reported by CNBC.Square's net loss stood at $11.5 million, up 71.6% from last year's $6.7 million. Overall adjusted EBITDA was at $97.9 million, down 7% from 2019 Q2's 105.3 million.Cash App Leads Charge: The company's largest revenue growth came with Cash App, which netted $281 million in gross profit on a total revenue of $1.2 billion.View more earnings on SQRevenue through Bitcoin increased a whopping 600% for the payments app at $875 million. Bitcoin gross profit increased 711% YoY at $17 million.The increase in both revenue and profits stemmed from a rise in customer demand. Square revealed that as of June, the app had 30 million monthly transacting active users.The Cash App offers Bitcoin purchase, commission-free stock trading, and allows customers to send money on a peer-to-peer basis as well as make payments. It competes with Apple Inc's (NASDAQ: AAPL) Apple Pay, Alphabet Inc's (NASDAQ: GOOGL) (NASDAQ: GOOG) Google Pay and PayPal Holding Inc's (NASDAQ: PYPL) Venmo in the space.Dorsey's Personal Interest:
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