Wednesday, July 13, 2016
Today's must-read reports are for Bristol-Myers (BMY), ConocoPhillips (NYSE:COP) (COP) and eBay (EBAY).
Bristol-Myers shares are up +11% year-to-date, with this Zacks Rank # 2 (Buy) rated stock getting a boost when its cancer drug, Opdivo, became the first PD-1 immune checkpoint inhibitor to gain regulatory approval anywhere in the world. The analyst likes the company’s higher guidance for 2016 and its concerted efforts to develop its pipeline are also encouraging. (You can read the full research report on BMY here.)
Zacks Rank # 2 (Buy) rated ConocoPhillips shares have been laggards lately, but the analyst likes ConocoPhillips’ greater focus on North America, Australia and Asia which is expected to improve its risk profile. Additionally, ConocoPhillips’ initiatives towards liquids-rich plays are starting to bear fruit buoyed by the Eagle Ford, Bakken and Permian plays. (You can read the full research report on COP here.)
Despite lingering in the red year-to-date, shares of eBay have gained more than 5% over the last one month. The analyst likes the Zacks Rank # 2 (Buy) rated stock’s opportunities in the fast-growing mobile space, international expansion and a strong balance sheet. The company's concerted efforts to squeeze additional costs out of its operations hold the promise of a boost to margins in the coming quarters. (You can read the full research report on EBAY here.)
Other noteworthy reports we are featuring today include Pepsi (PEP), Viacom (VIAB) and Suncor Energy (SU).
- Pepsi (PEP) Beats Q2 Estimates
- Illinois Tool (ITW) Eyes Growth
- Suncor Energy (SU) Upgraded to Zacks Rank # 2 (Buy)
- Viacom (VIAB) Downgraded to Zacks Rank # 5 (Strong Sell)
You can find all of today's stock research reports here.
Sheraz Mian
Director of Research
Note: Sheraz Mian regularly provides earnings analysis on Zacks.com and appears frequently in the print and electronic media. His weekly earnings related articles include Earnings Trends and Earnings Preview. He also provides weekly commentary to Zacks Premiumsubscribers and manages the Zacks Focus Listand Top 10portfolios. If you want an email notification each time Sheraz publishes a new article, please click here
Today's Must Read
Featured Reports
Pepsi (PEP) Beats, Higher EPS Outlook Encouraging
Pepsi raised its full year earnings growth target based on strong performance in the first half and a favorable outlook, which encourages the Zacks analyst.
Annaly (NLY) to Benefit from Hatteras Acquisition
The Zacks analyst thinks Annaly's acquisition of Hatteras is likely to boost its status in the REIT space.
Franklin's (BEN) June AUM Declines as Equity Assets Drop
The covering analyst thinks that though Brexit-related volatility affected assets under management in June, its solid business model and strong distribution platform support growth prospects.
Chubb (NYSE:CB) Expects Q2 Catastrophe Loss of $315 Million
Chubb expects to incur catastrophe loss of $315 million ($390 million pre-tax) net of reinsurance and including reinstatement premiums in the second quarter.
Key Products and Robust Pipeline to Boost BioMarin (BMRN)
Solid performance of key products like Vimizim and Kuvan will drive BioMarin's top line, according to the Zacks analyst. also has a promising pipeline.
Illinois Tool (ITW) Eyes Growth Despite Stiff Competition
Illinois expects its financials to be boosted by Enterprise Strategy and other initiatives. However, the Zacks analyst feels unfavorable currency movements and intense competition might hurt results.
T. Rowe Price (TROW) on Growth Track, Cost Pressure Lingers
The Zacks analyst thinks despite pressure on expenses, the company stands to benefit from a diverse business model, launch of new funds and substantial liquidity.
New Upgrades
Align Technology (ALGN) to Gain from Solid Invisalign Growth
The Zacks Analyst believes Align's expected incremental investments in Invisalign during 2H16 to successfully boost its business in 2016. Recent adoption of digital scanners also buoys optimism.
Suncor Energy's (SU) Prospects Improve on Higher Syncrude Stake
The covering analyst thinks Suncor's prospects have improved after the company significantly increased its stake in the Syncrude oilsands project. Oil recovery also acts as a catalyst.
AmerisourceBergen (NYSE:ABC) To Benefit From Acquisitions, Deals
AmerisourceBergen should benefit from strategic acquisitions which have diversified its target markets and should help combat the slowdown in generics, according to the Zacks analyst.
New Downgrades
Marathon Petroleum (NYSE:MPC) Downgraded on Narrowing Spread
The Zacks analyst believes that following a prolonged period of high differentials, crack spreads are set to weaken, which will lead to a decline in earnings and cash flows for MPC.
Viacom (VIAB) Corporate Battle, Prospects Worry Investors
The covering analyst thinks Viacom remains embroiled in corporate issues and the company's future prospects and a positive turnaround remain doubtful.
Twitter (TWTR) Signs Several Streaming Deals to Attract Users
Twitter's multiple efforts at boosting the user base including live streaming deals with the likes of NFL are impressive but questions remain about whether they will yield results.
VIACOM INC-B (VIAB): Free Stock Analysis Report
SUNCOR ENERGY (SU): Free Stock Analysis Report
PEPSICO INC (PEP): Free Stock Analysis Report
EBAY INC (EBAY): Free Stock Analysis Report
CONOCOPHILLIPS (COP): Free Stock Analysis Report
BRISTOL-MYERS (BMY): Free Stock Analysis Report
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