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Aug 9 (Reuters) - Charles River Laboratories International (CRL.N) beat Wall Street estimates for second-quarter results on Wednesday, as the strong demand for contract researcher's tools and services cushioned the impact of suspended non-human primates' (NHP) shipment. The statement comes after Charles River in February suspended the shipment of NHPs from Cambodia as the Department of Justice and U.S. Fish and Wildlife Service investigated the company over smuggling of wild long-tailed macaques to the United States. The Massachusetts-based company tightened its full-year profit forecast to the range of $10.30 to $10.90 per share, compared with $9.90 to $10.90 previously expected. Excluding items, the company earned $2.69 per share in the quarter ended July 1, beating analysts' average estimate of $2.64 per share.
Persons: Charles River, Charles River's, Vaibhav Sadhamta, Shweta Agarwal Organizations: River Laboratories, Department of Justice, Fish, Wildlife Service, Thomson Locations: United States, NHPs, Cambodia, The Massachusetts
To an ordinary person, the answer is obviously yes. Lacks, a Black mother of five, was dying of cervical cancer in 1951 when doctors at Johns Hopkins Hospital in Baltimore biopsied tissues from her cervix. Whatever the case, cells from the research sample were later found to be highly valuable because they were the first that could divide indefinitely in a laboratory. And cells are “de-identified,” unlike Lacks’s cells, which are named HeLa to this day. What’s still debated is whether people have a legitimate ownership claim in the first place.
Persons: it’s, Henrietta Lacks, HeLa, What’s Organizations: Johns Hopkins Hospital Locations: Baltimore
A handful of the most well-known technology stocks are being somewhat ignored by socially conscious funds, according to Bernstein. Big technology names including Apple , Amazon , Meta , Microsoft and Alphabet were among the most underweighted stocks by North American funds that consider environmental, social and corporate governance factors when screening investment ideas. Big Tech has roared back to life this year, coming off 2022's selloff as investors bet on a better interest rate environment. Here are the 10 most underweighted stocks by North American funds: On the flip side, a wide swath of stocks accounted for the most held, relatively. Barclays analyst Craig Rye said the stock could actually benefit if hurricane season is worse than was previously expected.
Persons: Bernstein, Danaher, Craig Rye, Rye, , Michael Bloom Organizations: Apple, Meta, Microsoft, North, Big Tech, Software, Nvidia, Insurance, Barclays, Fisher, Deere
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Persons: Dow Jones
Henrietta Lacks changed modern medicine when doctors took her cells without her consent in 1951. Despite that incalculable impact, the Lacks family had never been compensated. Henrietta Lacks' cells have been part of many medical breakthroughs. "The exploitation of Henrietta Lacks represents the unfortunately common struggle experienced by Black people throughout history," the complaint reads. "It was a long fight — over 70 years — and Henrietta Lacks gets her day."
Persons: Henrietta, HeLa, Ben Crump, Crump, didn't, Rebecca Skloot, Oprah Winfrey, Johns Hopkins, Fisher, George Floyd's, Alfred, Carter Jr, Chris Van Hollen, Ben Cardin, Van Hollen Organizations: Service, Johns Hopkins Hospital, Fisher Scientific Inc, Associated Press, HBO, Johns Hopkins Medicine, Maryland Democrats Locations: Wall, Silicon, Waltham , Massachusetts, Baltimore, Virginia, United States, Baltimore's
The family of Henrietta Lacks, the Black woman whose cancer cells were taken without consent and used to pioneer numerous medical discoveries, reached a settlement on Monday with a biotechnology company that had used the cells. Lacks, who died decades ago, accused the company, Thermo Fisher Scientific, of selling the cells and trying to secure intellectual property rights on the products the cells were used to help develop without compensating the family or seeking their permission or approval. The terms of the settlement are confidential, lawyers for both parties said in a statement. Thermo Fisher, a Massachusetts-based biotechnology company, and the legal team for Ms. Lacks’s family released identical statements announcing the settlement. “The parties are pleased that they were able to find a way to resolve this matter outside of Court and will have no further comment,” the statements said.
Persons: Henrietta Lacks, Lacks’s Locations: Massachusetts
A health-care fund with a strong track record could be in a sweet spot for investors who are looking to take some risk off the table, according to Bank of America. "Since 2006, HCES has been a 'goldilocks' trade for investors looking for high-beta healthcare exposure without extreme volatility," the note said. The firm's top-rated ETF in the space is the iShares U.S. Medical Devices ETF (IHI) , which helps investors avoid the volatile biotech stocks found in broader health-care sector funds. IHI 5Y mountain The IHI has averaged a total return of more than 10% over the past five years. In our view, the trade is far less crowded than broad healthcare for investors looking for defensive exposure," Woodard said.
Persons: Jared Woodard, HCES, Woodard, — CNBC's Michael Bloom Organizations: Bank of America . Investment, Medical Devices, Fisher, Abbott Laboratories, Bank of America Locations: U.S
Morning Bid: Markets brace for Fed decision, earnings flood
  + stars: | 2023-07-26 | by ( ) www.reuters.com   time to read: +2 min
Investors will be listening carefully to Chair Jerome Powell for indications of whether or not another interest rate hike is in the pipeline. The Fed's communication could set the tone for markets ahead of policy decisions from the European Central Bank (ECB) on Thursday and the Bank of Japan (BOJ) on Friday. Reuters GraphicsEuro zone June M3 annual growth and lending data on Wednesday are unlikely to affect markets ahead of the ECB's decision. Chinese stock markets were mostly lower on Wednesday following a steep rally the day before. China's blue-chip CSI300 (.CSI300) index was down 0.3% while the CSI 300 Real Estate index gained 0.2%.
Persons: Brigid Riley, Jerome Powell, HSI, Sonali Desai, Edmund Klamann Organizations: Federal Reserve, Federal, Market, European Central Bank, Bank of Japan, ECB, Reuters, Fisher, Union Pacific Corp, eBay, Boeing, Microsoft, Carrefour, Danone, GSK, CSI, CPI, Reserve Bank of Australia, U.S, Fed, Thomson Locations: United States, U.S, Europe, France, Asia, China
Alphabet — The Google parent popped more than 6% after topping Wall Street's second-quarter earnings expectations, fueled by growth in its cloud-computing segment. Microsoft, however, did beat Wall Street's estimates, reporting earnings of $2.69 per share on $56.19 billion in revenue. Snap topped second-quarter expectations, reporting a narrower-than-expected loss of 2 cent a share on $1.07 billion in revenue. Wells Fargo also said that its board approved a previously announced dividend hike to 35 cents from 30 cents per share. The company topped earnings but fell short on revenue expectations, reporting adjusted earnings per share of 63 cents on $29.92 billion in revenue.
Persons: Ruth Porat, Refinitiv, Wells Fargo, popper, , Sarah Min, Yun Li, Hakyung Kim, Jesse Pound Organizations: Google, Microsoft, Boeing, Texas, — Texas, Teladoc Health, Dish, Bloomberg News, Fisher, Pacific Locations: Mountain View , California, Banc, California
SummaryCompanies Alphabet climbs on Q2 profit beatMicrosoft slides as AI spending grows faster than revenueFed's rate decision awaited at 2:00 p.m. Meta Platforms <META.O> rose 1.8% after Alibaba's cloud unit said it would support the Facebook owner's open-source AI model Llama. The Fed is expected to deliver a 25-basis point interest rate hike later in the day, though there is less clarity over what the central bank will do at subsequent meetings. ET, Dow e-minis were down 65 points, or 0.18%, S&P 500 e-minis were down 7.25 points, or 0.16%, and Nasdaq 100 e-minis were down 43.75 points, or 0.28%. Wells Fargo (WFC.N) climbed 2.8% after the bank's board authorized a new share buyback program of up to $30 billion.
Persons: Joshua Warner, Stefan Koopman, Wells Fargo, Bansari Mayur Kamdar, Johann M, Savio D'Souza, Anil D'Silva Organizations: Microsoft, Dow, Nasdaq, Wall, Google, NYSE, Facebook, Rabobank, Dow e, Federal Trade Commission, Thomson Locations: Bengaluru
Final Trades: Broadcom, Conocophillips, Thermo Fisher
  + stars: | 2023-07-12 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: Broadcom, Conocophillips, Thermo FisherThe "Halftime Report" traders give their top picks to watch for the second half.
Organizations: Broadcom, Conocophillips
Thermo Fisher to acquire CorEvitas for about $913 million
  + stars: | 2023-07-06 | by ( ) www.reuters.com   time to read: +2 min
Thermo Fisher has been on an acquisition spree in recent years as it strives to become a one-stop shop for biopharma services. CorEvitas is expected to boost Thermo Fisher's annual adjusted earnings per share by 3 cents next year. The data provider also has the potential to generate $110 million of revenue in 2023, Thermo Fisher said. CorEvitas' data intelligence platform would be added to Thermo Fisher's laboratory products and biopharma services unit, upon completion of the deal. Shares of Massachusetts-based Thermo Fisher were down 1.3% at $514 in early trading.
Persons: Fisher, CorEvitas, Puneet, Sriparna Roy, Shilpi Majumdar Organizations: SVB Securities, Audax Private Equity, Massachusetts, Thomson Locations: U.S, Boston, Bengaluru
To what extent the test will improve outcomes and save lives is not clear, however, as there is no effective treatment for pre-eclampsia, which usually eases after birth. “We don’t have a therapy that reverses or cures pre-eclampsia other than delivery of the baby, which is more like a last resort,” Dr. Woelkers said. The new blood test, made by Thermo Fisher Scientific, has been available in Europe for several years. It is intended for pregnant women who are hospitalized for a blood pressure disorder in the 23rd to 35th weeks of gestation. “A lot of women will have edema and headaches.” (Edema means swelling.)
Persons: , Woelkers, , Sarosh Rana Organizations: Fisher, University of Chicago Locations: Europe
Top 10 things to watch in the stock market Tuesday
  + stars: | 2023-06-20 | by ( Jeff Marks | ) www.cnbc.com   time to read: +3 min
It's a new week but the recent stock market rally makes for a not-so-great set up as Jim Cramer told the Investing Club Monday evening in his weekly column. Jim and "Mad Money" are in Detroit for all things Ford (F) with CEO Jim Farley, covering everything from Ford Blue to Ford Pro to Ford Model e (electric vehicles). Bank of America adds Club stock Amazon (AMZN) to its US 1 list. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Dow, Jim, Jim Farley, They'll, Elon Musk, Sartorius, Cowen, Eli Lilly, Raymond James, Morgan Stanley, Philip Morris, Jim Cramer's Organizations: Nasdaq, Ford, Ford Pro, Ford Model, Elon, Bank of America, Nvidia, Club, Dice Therapeutics, Avis Budget, Citi, Delta Air Lines, DAL, PayPal, Nike, Dow, Barclays, Jim Cramer's Charitable, CNBC Locations: Detroit
A warning from UnitedHealth Group executives Wednesday that demand for medical services was rising sent insurance stocks tumbling and, in turn, hit investors who bet on health care. The biggest health-care exchange-traded fund, the $41 billion Health Care Select Sector SPDR Fund (XLV) , lost 1% Wednesday. The $17 billion Vanguard Health Care ETF (VHT) also fell about 1%. XLV 5D mountain The XLV was dragged down by insurance stocks on Wednesday. Some Wall Street analysts said the dramatic sell-off in typically stodgy insurance stocks could prove to be a buying opportunity.
Persons: John Franklin Rex, Rex, that's, Cantor Fitzgerald, Sarah James, — CNBC's Michael Bloom Organizations: UnitedHealth Group, Humana, CVS Health, Health Care, CVS, Devices, Abbott Laboratories
Morgan Stanley named a slew of must-own stocks this week that the firm said are firing on all cylinders ahead of summer. They include Bath & Body Works , Take-Two Interactive, RBC Bearings, Thermo Fisher Scientific and American Express. RBC Bearings "[The] growth story remains intact," analyst Kristine Liwag said of the aerospace and industrial bearings maker. "We continue to view RBC Bearings as a high-quality industrials compounder with attractive growth and margin expansion potential," she wrote. … We continue to view RBC Bearings as a high-quality industrials compounder with attractive growth and margin expansion potential.
Persons: Morgan Stanley, Morgan, Matthew Cost, he's, Kristine Liwag, Liwag, Alex Straton, BBW, Straton, mgmt, Amex hasn't Organizations: CNBC, Body, Interactive, RBC, Fisher Scientific, American Express, Dodge Industrial, Locations: Biopharma
Companies like Thermo Fisher reported outsize growth during the Covid-19 pandemic. Photo: yves herman/ReutersFor drug companies, Covid-19 brought financial gains that were unevenly distributed, with Pfizer making over $50 billion from pandemic-related products last year even as other pharma companies saw more modest sales boosts. By contrast, the pandemic wealth was more evenly spread for “picks-and-shovels” businesses that supply big pharma companies with products needed to manufacture drugs and vaccines.
Investment consortium to take Syneos private for $4.46 billion
  + stars: | 2023-05-10 | by ( ) www.reuters.com   time to read: +2 min
May 10 (Reuters) - An investment consortium, comprising of Elliott Investment Management, Patient Square Capital and Veritas Capital, has agreed to take Syneos Health Inc (SYNH.O) private for $4.46 billion, the contract research firm said on Wednesday. Syneos said the consortium will pay about $43 per share in cash, which represents a premium of about 12% to the company's last close of $38.45. The acquisition is valued at $7.1 billion including debt. Syneos, which helps pharmaceutical companies with clinical trials and marketing their drugs, currently carries a debt of nearly $3 billion. The company reported a total backlog of contracts of $9.83 billion, as of March 31, 2023, down from $11.63 billion at the end of the first quarter of 2022.
Pharma Suppliers Are Nursing a Postpandemic Hangover
  + stars: | 2023-05-09 | by ( David Wainer | ) www.wsj.com   time to read: 1 min
Companies like Thermo Fisher reported outsize growth during the Covid-19 pandemic. Photo: yves herman/ReutersFor drug companies, Covid-19 brought financial gains that were unevenly distributed, with Pfizer making over $50 billion from pandemic-related products last year even as other pharma companies saw more modest sales boosts. By contrast, the pandemic wealth was more evenly spread for “picks-and-shovels” businesses that supply big pharma companies with products needed to manufacture drugs and vaccines.
Bank of America says healthcare stocks are usually strong performers in economic downturns. Their solid earnings and low valuations should help healthcare stocks going forward. The firm named 16 favorite stocks in the sector, including 3 that it thinks could double in price. Healthcare stocks aren't having a great year, but Bank of America says it sees signs that the tide is going to turn. Bank of America says the following 16 names are the best defensive and high-upside small- and mid-cap stocks in healthcare.
The buyout consortium has turned to other private equity firms to help fund the deal as direct lenders, one of the sources added. There is no certainty that Warburg Pincus and Advent will successfully complete negotiations to acquire the unit and Baxter may still opt to sell to another bidder or keep the business, according to the sources. Baxter, Warburg and Advent did not immediately respond to requests for comment. Baxter's biopharma solutions unit supports drugmakers in the formulation, development and commercialization of drugs typically given by infusion or injection, such as biologics and vaccines. The company said dialysis operations, which are a part of Baxter's renal care unit, had become a drag on its margin.
No official explanation has been given for the pollution, which has stuck, in small patches, to the rocks and wild limestone beaches near the town of Pula. This is not the first time oil had drifted ashore in the area, she said, and people deserve to know the cause. "We cannot just wait and fear each year that wind will bring us a new oil spill," Buttignoni told Reuters. "There will be a problem because this (oil) constantly keeps coming though in smaller quantities," said villager Giuliano. "There will be a problem with tourism, when guests arrive and probably step on it.
Morning Bid: Cloud control - tech trumps banks
  + stars: | 2023-04-26 | by ( ) www.reuters.com   time to read: +5 min
Alphabet (GOOGL.O) also gained 1% as it too trumpeted gains in cloud services and AI, alongside plans for a $70 billion buyback. With Meta (META.O) results out later, its stock was up 2% and Amazon (AMZN.O) raced ahead 4%. PacWest Bancorp's (PACW.O) shares jumped 15% in extended trading after the regional lender said deposits have been building recently. And in Europe, Standard Chartered (STAN.L) shares bucked otherwise dour markets on a forecast-beating 21% jump in first-quarter profits. U.S. Treasury markets continued to rally, with yields on 2-year notes dropping below 4% Tuesday and testing 3.9% early today.
The company said Tuesday its upcoming quarterly revenue will range from $700 million to $750 million, compared to the expected $765.2 million from analysts surveyed by StreetAccount. The company reported an adjusted loss of $1.27 per share and $17.92 billion in revenue. Activision Blizzard — Activision Blizzard shares dropped about 10.4% in the premarket after a UK regulator blocked Microsoft's purchase of the video game publisher. ServiceNow will be announcing its quarterly earnings Wednesday after the bell. The gain came after fellow tech-related giant Microsoft reported quarterly earnings that exceeded expectations, boosting sentiment for Amazon.
Stocks stuck to a holding pattern this week as investors brace for an incoming wave of Big Tech earnings and the Fed's favorite inflation reading. Earnings reports have generally been better than expected so far this first quarter. Humana (HUM) reports before the bell Wednesday; Meta Platforms and Pioneer Natural Resources (PXD) report after the bell Wednesday. ET: Personal Spending & Income (includes PCE Price Index) Club trades this week Just one trade: We added 150 shares of Coterra Energy (CTRA) on Wednesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
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