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Although revenue rose 27% to $2.3 billion, outpacing LSEG estimates, the loss of 39 cents per share was wider than expected. First-quarter earnings per share of $2.13, excluding items, bested estimates of $1.90 per share, from LSEG. Revenue came in slightly below analysts' estimates at $1.23 billion, versus $1.24 billion expected. Yelp — Shares dropped about10% after the website's first-quarter guidance for both adjusted EBITDA and revenue missed analysts' estimates. Bio Rad Laboratories — The life science equipment company's fourth-quarter earnings per share exceeded analysts' consensus estimates, FactSet said.
Persons: , Yelp, FactSet, Macheel, Scott Schnipper Organizations: Revenue, Texas, Rad Locations: LSEG, FactSet . Texas
Jeffrey Ubben, Founder & CEO at ValueAct Capital, speaks on the Reuters Newsmaker event "The Future of Shareholder Activism" in Manhattan, New York, U.S., February 22, 2017. Ubben told investors in a memo he was winding down some funds and returning capital, two people familiar with the matter said on Wednesday. Ubben and Inclusive Capital, known as InCap, did not respond to calls and emails for comment. Last year more hedge funds closed their doors than launched, data from Hedge Fund Research show. More than two decades ago, Ubben, 61, who started his career at mutual fund giant Fidelity, founded ValueAct Capital in San Francisco.
Persons: Jeffrey Ubben, Andrew Kelly, Jeff Ubben, Ubben, InCap, Martha Stewart, John Paulson, Louis Bacon, Svea Herbst, Bayliss, Sabrina Valle, Josie Kao Organizations: ValueAct, Reuters, REUTERS, Capital Partners, Inclusive, Hedge Fund Research, Fidelity, Microsoft, Street Journal, Exxon, Rad Laboratories, Unifi Inc, Bayer, Svea, Thomson Locations: Manhattan , New York, U.S, San Francisco, Houston
Analysts polled by LSEG had forecast 91 cents earnings per share on $2.04 billion in revenue. Revenue came in at $7.03 billion, while analysts polled by LSEG expected $7.02 billion. The estimated $1.50 to $1.80 earnings per share expected by the company fell short of the $2.06 expected by estimates according to LSEG. Travelers did report net written premiums of $10.49 billion, above the $10.33 billion expected. Elevance Health earned $8.99 per share on $42.85 billion in revenue in the quarter, exceeding analysts' estimates.
Persons: Morgan Stanley, LSEG, J.B, Hunt, Ilan Daskal, CNBC's Hakyung Kim, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: Nvidia, Citi, U.S, Citizens Financial Group, Citizens Financial, Bancorp, Revenue, United Airlines —, Hunt Transport, Interactive, LSEG, Bank of America, Travelers, Rad Laboratories, Procter, Gamble, Elevance Health Locations: China, J.B, LSEG
It's been a stellar first half for the S & P 500 , and some stocks in the index may be poised for rallies in the back end of the year. The S & P 500 ended Tuesday's session at 4,378.41. The stocks are all S & P 500 members and have buy ratings from at least 65% of analysts. .SPX YTD mountain The S & P 500, year to date Targa Resources is the most-liked stock on the list, with just under 90% of analysts holding buy ratings. It's the only stock on this list with a positive year-to-date performance, though it has still notably underperformed the broad S & P 500 .
Persons: It's, Wells, Timothy Daley, Daley, Ron DeSantis, — CNBC's Michael Bloom, Fred Imbert, Gina Francolla Organizations: CNBC, CNBC Pro, Rad Laboratories, Rad, Resources, Florida Gov, Disney
Bank of America downgrades SoFi Technologies to neutral from buy The downgrade follows SoFi' s recent rally. Our C$51 Price Target is 39% above the current stock price and we see close to 3:1 upside/downside skew." UBS upgrades AutoZone to buy from neutral Analyst Michael Lasser raised the price target to $2,900 from $2,800. Wells Fargo initiates Neogen Corporation at overweight and $22 price target Wells Fargo said it liked the company's improving margins. Wells Fargo initiates Bio-Rad Laboratories Inc. at overweight and $550 price target Wells said Bio-Rad's valuation is attractive at current levels.
Persons: Jefferies, John Hecht, LendingClub, Morgan Stanley, Mauricio Serna, Aritzia, Michael Lasser, Carvana, it's, Wells, Ph3, Wells Fargo, Piper Sandler, TD Cowen downgrades, LOE, Michael Bloom Organizations: . Bank of America, Technologies, Nvidia, Bank of America, UBS, West Pharmaceutical Services, Stevanato, MorphoSys, Neogen, Rad Laboratories Inc, SoFi Technologies, Health Companies Locations: EBITDA, 4Q23, BLCO
The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.
Check out the companies making the biggest moves midday:Deere — Shares rose 7.7% after the company reported earnings-per-share of $6.55 for its fiscal first quarter, topping the $5.57 expected by analysts polled by Refinitiv. Some Wall Street analysts remained cautious on the stock, citing risks including competition and slower-than-expected consumer adoption of alternative accommodations. Still, earnings and revenue missed Wall Street estimates. The sports betting company reported a loss of 53 cents per share on revenue of $855 million. The real estate company reported a 57 cent per share loss on $480 million of revenue.
With a majority of S & P 500 companies having posted their quarterly results, investors' focus will turn toward inflation and the consumer price index reading in the upcoming week. The three major indexes are on pace to end the week down, with the S & P 500 poised to post its worst performance since December. Sharp declines for Alphabet , which is off by more than 9% this week, dragged the tech-heavy index. January's consumer price index With the latest Powell speech in the books, investors are now looking ahead to the consumer price index for insight into the pace of inflation. "Retail sales and CPI is really driven by the consumer, and a lot of eyes are on how the consumer doing," Bruno said.
However, this sell-off may have opened buying opportunities among some of Wall Street analysts' favorite names. Amazon made the list, trading at a 31.6% discount to its average five-year forward P/E multiple. The stocks is trading at a more than 50% discount to its average five-year forward valuation and has buy ratings from more than three-quarters of analysts covering it. The former is trading 82% below its average five-year forward valuation, while Delta is 77% below. Delta, meanwhile, has dropped 10% in 2022, but the average analyst price target on the airline implies upside of 35%.
Apple – Shares of Apple jumped 8% after the technology giant beat both top and bottom line estimates when it reported earnings results for its latest quarter. Amazon – Shares of Amazon slipped 9% Friday after the retailer on Thursday reported quarterly revenue that fell short of Wall Street's expectations. T-Mobile – T-Mobile stock jumped 6% after the telecom company reported the largest jump in subscriber numbers since 2020, when it merged with Sprint. Pinterest – Pinterest rose 8% after the social media company beat earnings expectations and reported more monthly users than analysts forecast. The medical equipment company reported quarterly results on Thursday, posting revenue that slightly beat expectations, according to consensus estimates on StreetAccount.
One approach that could help is by looking at the names most beloved by analysts heading into earnings. The e-commerce giant is slated to report earnings Thursday. Alphabet, which is set to report earnings Tuesday, has struggled in 2022, losing 30% in that time. The company is slated to report earnings Thursday. ServiceNow and Alexandria Real Estate have the most buy rating from analysts covering them at 83.5% each.
Diagnostics firm Bio-Rad in talks to merge with Qiagen - WSJ
  + stars: | 2022-10-10 | by ( ) www.reuters.com   time to read: +1 min
Oct 10 (Reuters) - California-based diagnostics company Bio-Rad Laboratories (BIO.N) is in talks to merge with Qiagen NV (QIA.DE), the Wall Street Journal reported on Monday, citing people familiar with the matter. U.S-listed shares of Qiagen rose 8% while Bio-Rad fell nearly 10% after the report. Register now for FREE unlimited access to Reuters.com RegisterBio Rad, which manufactures and supplies products such as laboratory apparatus, instruments and diagnostics, has a market-cap of $12.85 billion. Both Qiagen and Bio-Rad did not immediately respond to Reuters' requests for comments. Register now for FREE unlimited access to Reuters.com RegisterReporting by Bhanvi Satija in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
Qiagen has developed technologies that isolate and process DNA, RNA and proteins from blood, tissue and other materials. Bio-Rad Laboratories is in talks to combine with fellow life-sciences company Qiagen NV in a deal that would be worth more than $10 billion, according to people familiar with the matter. The talks have been going on for a while but any agreement isn’t likely for another few weeks or more—and there may not be one.
The fourth quarter is finally here, much to the relief of many investors who took a beating in the previous three-month period. Stocks were battered last quarter as the Federal Reserve doubled down on its aggressive monetary policy stance to fight persistently high inflation. Wall Street analysts are to here to help, recommending several stocks that could do well going forward. On top of that, 75% of analysts covering the stock rate it as a buy, FactSet data shows. Both stocks have buy ratings from nearly two-thirds of analysts covering them.
With this in mind, CNBC Pro set out to find Wall Street's favorite stable stocks. If a stock has a beta of less than 1, it tends to be less volatile than the broader market. Health care names Bio-Rad Laboratories and Zoetis have the highest potential upside of any stock on the list, FactSet data shows. The tech giant has a five-year beta of 0.94 and has buy ratings from 82% of analysts covering it. The video game maker has a five-year beta of 0.76 and has buy ratings from 55% of analysts covering it.
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