FinancialInsiders.com Earnings Recap Week Ending September 15th, 2017
NEW YORK, September 15, 2017 /PRNewswire/ --
U.S. equity market was mixed on Thursday after The Labor Department said the Consumer Price Index increased more than expected in August. The Dow Jones Industrial average rose 0.21 percent, or 45.9 points, to 22,204.10 on Thursday and hit a new all-time high during the trading session. The S&P 500 was down from record high and closed 0.11 percent lower at 2,495.62. Nasdaq composite Index underperformed, fell 0.48 percent to 6429.08. Katie Stockton, Chief Technical Strategist at BTIG, said in a note, reported by CNBC: "Short-term momentum remains positive behind the SPX, supporting the rally off of the August low. The breakout above July's peak makes the path of least resistance higher, and it reflects healthy market breadth, or participation." Oracle Corporation (NYSE: ORCL), Halozyme Therapeutics, Inc. (NASDAQ: HALO), Nordstrom, Inc. (NYSE: JWN), Aldeyra Therapeutics Inc. (NASDAQ: ALDX), Teva Pharmaceutical Industries Ltd. (NYSE: TEVA)
According to The Labor Department, U.S. consumer prices rose 0.4 percent in August and increased 1.9 percent on a year-over-year basis. Economists polled by Reuters has estimated the CPI to rise 0.3 percent in August. The better-than-expected inflation may affect the Federal Reserve's decision on rate hike. The Fed has an inflation target of 2 percent. Minh Trang, senior FX trader at Silicon Valley Bank, said in a CNBC report: "Overall, the inflation numbers have been below the Fed's target of 2 percent. That's why you're seeing the market call the Fed's bluff to an extent."
Oracle Corporation (NYSE: ORCL) announced fiscal 2018 Q1 results Thursday after market. Total Revenues increased 7% from the prior year to $9.2 billion. Cloud plus On-Premise Software Revenues were up 9% to $7.4 billion. Cloud Software as a Service (SaaS) revenues were up 62% to $1.1 billion. Cloud Platform as a Service (PaaS) plus Infrastructure as a Service (IaaS) revenues were up 28% to $400 million. Total Cloud Revenues were up 51% to $1.5 billion. "The sustained hyper-growth in our multi-billion dollar cloud business continues to drive Oracle's overall revenue and earnings higher and higher," said Oracle CEO, Safra Catz. "In Q1, total revenues were up 7%, GAAP EPS was up 19%, and non-GAAP EPS was up 12%. Oracle is off to a very, very strong start in FY18."
Halozyme Therapeutics, Inc. (NASDAQ: HALO) stock up more than 18% on Thursday after the biotechnology company announced that it has licensed its ENHANZE(R) drug-delivery technology to Roche for exclusive development of an undisclosed therapeutic target. Under the terms of the agreement it will receive an initial $30 million with the potential to earn additional payments of up to $160 million subject to achievement of specified development, regulatory and sales-based milestones. Halozyme will also receive tiered, mid-single digit royalties on sales of commercialized products.
Nordstrom, Inc. (NYSE: JWN) shares jumped about 7% after CNBC announced Tuesday that the Nordstrom family is leaning toward a partnership with private equity firm Leonard Green to assist its bid to take the department store private. According to the report, the Nordstrom family is hoping that as a private company, it will be able to make investments that help it adapt to the changing retail landscape without worrying about short-term shareholder reaction.
Aldeyra Therapeutics Inc. (NASDAQ: ALDX) shares had jumped 34 percent on Tuesday after the company announced positive results from a Phase 2a clinical trial of its ADX-102 treatment in patients with dry eye disease. The stock has gained another 34 percent on Thursday and doubled its value in three days. The company said it expects to begin a phase 2b trial in the first half of 2018. Todd C. Brady, M.D., Ph.D., President and Chief Executive Officer of Aldeyra, commented: "These data represent the fourth set of positive Phase 2 results with ADX-102 in ocular inflammation. The breadth of activity across noninfectious anterior uveitis, allergic conjunctivitis, and now dry eye disease confirms the potential of ADX-102 as an important and differentiated therapy in ophthalmology."
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) announced on Monday it has entered into a definitive agreement under which CooperSurgical will acquire PARAGARD, a product within its global Women's Health business, in a $1.1 billion cash transaction. PARAGARD had revenues of approximately $168 million for the trailing twelve-month period ending June 30, 2017. This transaction includes Teva's manufacturing facility in Buffalo, NY, which produces PARAGARD exclusively. Teva briefly broke above $20 Tuesday morning.
Follow us on Twitter for real time Financial News Updates: https://twitter.com/FinInsiders
Follow and talk to us on Instagram: https://www.instagram.com/financialinsiders
Facebook Like Us to receive live feeds: https://www.facebook.com/financialinsiders
About FinancialInsiders.com
Financialinsiders.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially-driven digital space, video production and integration of social media, FinancialInsiders.com creates 100% unique original content. FinancialInsiders.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Please Note: Financialinsiders.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.Financialinsiders.com (the "site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), Financialinsiders.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialinsiders.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. Financialinsiders.com receives fees for producing and presenting high quality and sophisticated content on Financialinsiders.com along with other financial news PR media services. Financialinsiders.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. Financialinsiders.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, Financialinsiders.com has not been compensated for financial news dissemination and PR services by any parties. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. Financialinsiders.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialInsiders.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. Financialinsiders.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. Financialinsiders.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by Financialinsiders.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by Financialinsiders.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.Financialinsiders.com .
For further information:
info@Financialinsiders.com
+1-212-381-6028
SOURCE FinancialInsiders.com
