Author: John Wilkes

Viacom Reports Mixed Results as Advertising Dips, Paramount Pictures Gains

Viacom Reports Mixed Results as Advertising Dips, Paramount Pictures Gains

Viacom (VIA, VIAB) reported downbeat revenue for the fiscal third quarter as advertising revenue decreased, but earnings came in better than expected, and the entertainment company cheered growing profitability in its Paramount Pictures division. Revenue fell 4% to $3.24 billion, missing the consensus on Capital IQ for $3.27 billion. Adjusted diluted earnings rose by a penny to $1.18 a share, […]

Rite Aid Shares Plunge After Announcing $24 Billion Merger With Albertsons Terminated

Rite Aid Shares Plunge After Announcing $24 Billion Merger With Albertsons Terminated

Rite Aid (RAD) shares plunged in early trading on Thursday after the company said its proposed merger with Albertsons Companies was canceled. The companies said in a statement on Wednesday that they’d made a mutual decision to terminate the $24 billion merger, which was originally announced in February. The transaction had been under scrutiny from investors and shareholders. Rite Aid […]

European ADRs Move Lower in Thursday Trading

European ADRs Move Lower in Thursday Trading

American Depository Receipts of European stocks were trading 0.48% lower at 138.03 on the Bank of New York Mellon Europe ADR Index on Thursday. In continental Europe, the gainers were led by geophysical equipment company CGG (CGG), and 3D printer company voxeljet (VJET), which rose 3% and 2.4% respectively. They were followed by gene therapy company Cellectis (CLLS), and marketing […]

Sanchez Energy Downgraded by RBC to Sector Perform

Sanchez Energy Downgraded by RBC to Sector Perform

Sanchez Energy (SN) received an investment-rating downgrade Wednesday to sector perform from outperform from RBC Capital Markets following the oil-and-gas explorer and producer’s Tuesday report of a wider-than-expected Q2 loss. Sanchez also reported Tuesday that it has “engaged a leading global consulting firm to conduct an assessment of its performance across all aspects of the business, with a specific focus […]

Bond Prices Little-Changed to Lower With 10-Year Auction Ahead

Bond Prices Little-Changed to Lower With 10-Year Auction Ahead

US Treasury prices dipped lower, reversing earlier increases seen in concert with core European bonds and Japanese government bonds (JGBs). The two-year Treasury was unchanged yielding 2.674%, with the benchmark 10-year flat at 2.973%. The UK Gilt was pacing Europe with a small 0.7 basis point dip to 1.315% while the German Bund was flat at 0.404%, and the JGB […]

Discovery Communications Misses Views on Adjusted Earnings

Discovery Communications Misses Views on Adjusted Earnings

Discovery Communications (DISCA) released disappointing quarterly results on Tuesday that sent its stock price into the red, with the broadcaster reporting “tepid underlying growth trends,” according to Pivotal Research. Adjusted earnings per diluted share slipped to $0.66 from $0.68, missing the consensus on Capital IQ for $0.86 a share. Revenue jumped 63% to $2.85 billion, in line with the Street’s […]

Goldman Reiterates Positive Outlook on Suncor, Canada Pacific, Phillips 66 Amid Widening Western Canadian Crude Differentials

Goldman Reiterates Positive Outlook on Suncor, Canada Pacific, Phillips 66 Amid Widening Western Canadian Crude Differentials

Goldman reiterates its supportive outlook on Suncor Energy (SU), Canada Pacific (CP), Phillips 66 (PSX) and Marathon Petroleum (MRO) as these companies will benefit from widening Western Canadian heavy crude oil differentials. Western Canadian heavy crude oil differentials have re-widened from a period of seasonally tighter spreads in the second quarter amid a faster-than-anticipated production ramp, planned refining downtime and […]

Bond Prices Slide as Stocks Head Higher – 10-Year 2.945%

Bond Prices Slide as Stocks Head Higher – 10-Year 2.945%

US Treasury prices slid early Tuesday, inching yields higher, along with Japanese government bonds (JGB) and core Europeans, as global equities rallied. The front end of the Treasury curve was under-performing slightly ahead of Tuesday’s $34 billion three-year Treasury auction. The two-year yield was up 0.8 basis point near 2.657%, with the 10-year rate up 0.6 bp to 2.945%. Weakness […]

Neovasc Soars 17% as Data Showed Neovasc Reducer ‘Very Safe’ in Significantly Lowering Angina Severity

Neovasc Soars 17% as Data Showed Neovasc Reducer ‘Very Safe’ in Significantly Lowering Angina Severity

Shares of Neovasc (NVCN), a developer of minimally invasive transcatheter mitral valve replacement technologies, surged 17% intraday after the company said Monday results from a study undertaken to assess the safety and effectiveness of the Neovasc Reducer showed that the treatment was “very safe and significantly reduced the severity of angina.” In the published study, the safety and effectiveness of […]