U.S. Hot Stocks: Hot Stocks to Watch
May 03 2016 - 9:37AM
Dow Jones News
Among the companies with shares expected to trade actively in
Tuesday's session are Mallinckrodt PLC (MNK), Mylan NV (MYL) and
Pfizer Inc. (PFE).
Mallinckrodt PLC raised its profit forecast for the year as the
biopharmaceutical company reported better-than-expected revenue and
earnings in its latest quarter. Shares rose 6.23% to $64.49 in
premarket trading.
Mylan NV reported profit slipped in the latest quarter as
expenses ticked up, though the pharmaceutical company's adjusted
profit came in above analysts' projections. Shares rose 3.72 to
$44.30 premarket.
Pfizer Inc. on Tuesday reported better-than-expected results for
its first quarter and raised its guidance for the year as both new
and established product lines showed revenue growth. Shares rose
2.44% to $33.60 premarket.
Starwood Hotels & Resorts Worldwide Inc. (HOT) reported
better-than-expected profit in the latest quarter, as the company
works to close its much-watched merger with Marriott International
Inc. that almost fell apart amid a bidding war with a Chinese
insurance firm. Shares rose 1.35% to $83.23 premarket.
Sprint Corp. (S) on Tuesday reported its loss widened more than
expected in the final quarter of the year, though revenue slipped
less than anticipated. Shares rose 2.87% to $3.59 premarket.
CVS Health Corp. (CVS) logged better-than-expected results for
its first quarter, as recent acquisitions helped push prescription
volumes higher.
Archer Daniels Midland Co. (ADM) reported a
steeper-than-expected drop in revenue and profit in its latest
quarter, as the grain trader and processor continued to face low
exports and weak margins.
Biogen Inc. (BIIB) said it plans to spin off its hemophilia
business as a separate publicly traded company so the biotechnology
company can increase its focus on its neurology drugs.
Health-care software and data company IMS Health Holdings Inc.
(IMS) and drug-industry outsourcer Quintiles Transnational Holdings
Inc. (Q) on Tuesday said they agreed to merge in an all-stock deal
worth about $8.75 billion.
Amplify Snack Brands Inc.'s (BETR) first-quarter profit nearly
doubled as the maker of SkinnyPop popcorn reported a 23% increase
in sales. But higher marketing spending ate away at the company's
margins.
Anadarko Petroleum Corp. (APC) on Monday posted
weaker-than-expected sales in the first quarter as the rout in the
oil sector continued, though its quarterly loss wasn't as bad as
analysts had forecast.
Community Health Systems Inc. (CYH) on Monday reported
first-quarter profit well below Wall Street estimates.
Edison International on Monday reported weaker-than-expected
results for the first quarter, hurt by the timing of a rate-case
decision last year and higher costs.
Norwegian oil and gas producer Statoil ASA said Monday it has
agreed to sell some of its assets in the Marcellus Shale formation
in West Virginia to EQT Corp. (EQT) for $407 million in cash.
General Growth Properties Inc.'s (GGP) revenue rose 2% in the
first three months of the year. Profit, however, plunged as it
reporter a sharp drop in gains from changes in control of
investment properties.
Bottle maker Owens-Illinois Inc. (OI) on Monday raised its
profit projections for the year following better-than-expected
results during the first three months of the year.
Tenet Healthcare Corp. (THC) swung to an first-quarter loss as
the hospital operator increased a legal reserve related to a
potential resolution of a whistleblower lawsuit that alleges the
company's Georgia hospitals took part in a kickback scheme.
Universal Health Services Inc. (UHS) agreed to acquire minority
interests in six of the company's hospitals in the Las Vegas market
from an unidentified third party for a cash payment of $445
million.
Vivint Solar Inc. (VSLR) said Monday said it had appointed an
interim chief executive after CEO Greg Butterfield resigned,
effective immediately. The company didn't explain why Mr.
Butterfield was leaving other than saying in a regulatory filing
that "there were no known disagreements" that led to his
resignation.
Vornado Realty Trust (VNO) swung to a first-quarter loss as it
booked more than $165 million in impairments largely tied to a
Virginia office complex. The real-estate investment trust has been
discussing a possible separation of its Washington business.
Write to Chris Wack at chris.wack@wsj.com or Maria Armental at
maria.armental@wsj.com
(END) Dow Jones Newswires
May 03, 2016 09:22 ET (13:22 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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