Top 10 News for 8/8 - 8/12: Valent Under Probe; Markets Remain Near Record Highs; Wal-mart Moves on Amazon

August 12, 2016 3:55 PM EDT

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

1. Valeant Pharma (NYSE: VRX) was reported to be under criminal investigation, according to a WSJ report earlier this week. Federal prosecutors are investigating if the company defrauded insurance companies by hiding its ties to mail-order pharmacy Philidor Rx Services LLC, the report said. Valeant said, Valeant previously disclosed in October 2015 that the United States Attorney's Office for the Southern District of New York commenced an investigation involving Valeant. We have been fully cooperating with the authorities throughout the investigation, and we are in frequent contact and continue to cooperate with the U.S. Attorney's Office for the Southern District of New York.

Valeant Pharma also reported Q2 EPS of $1.40, versus the analyst estimate of $1.48. Revenue for the quarter came in at $2.42 billion versus the consensus estimate of $2.46 billion. The company reaffirmed FY16 guidance.

2. On Thursday:

  • Nasdaq closed at 5,228.40
  • S&P 500 closed at 2,185.79
  • Dow Jones Industrial Average closed at 18,613.52

All three were the highest closes seen since 1999, according to market data.

3. Alibaba (NYSE: BABA) shares ran higher after the company reported Q1 EPS of RMB4.90, RMB0.70 better than the analyst estimate of RMB4.20. Revenue for the quarter came in at RMB32.2 billion versus the consensus estimate of RMB30.2 billion. Mobile MAUs in June reached 427 million, an increase of 17 million over March 2016, while annual active buyers on our China retail marketplaces increased to 434 million, a net addition of 11 million annual active buyers from the prior quarter.

4. Key department store/retailer earnings:

  • Kohl's Corp. (NYSE: KSS) reported Q2 EPS of $1.22, $0.19 better than the analyst estimate of $1.03. Revenue for the quarter came in at $4.18 billion versus the consensus estimate of $4.16 billion. Comps fell 1.8%.
  • Macy's (NYSE: M) reported Q2 EPS of $0.54, $0.09 better than the analyst estimate of $0.45. Revenue for the quarter came in at $5.87 billion versus the consensus estimate of $5.74 billion.
  • Nordstrom (NYSE: JWN) reported Q2 EPS of $0.67, $0.11 better than the analyst estimate of $0.56. Revenue for the quarter came in at $3.65 billion versus the consensus estimate of $3.68 billion. Comps were down 1.2%.

5. Wal-Mart Stores, Inc. and Jet.com, Inc. announced they have entered into a definitive agreement for Walmart to acquire Jet for approximately $3 billion in cash, a portion of which will be paid over time. Additionally, $300 million of Walmart shares will be paid over time as part of the transaction.

6. Disney (NYSE: DIS) reported Q3 EPS of $1.62, $0.01 better than the analyst estimate of $1.61. Revenue for the quarter came in at $14.28 billion versus the consensus estimate of $14.15 billion. “Disney delivered another quarter of double-digit EPS growth, and we are thrilled with our continued performance,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. “Our results are evidence that our asset mix is strong, as is our ability to execute in ways that enhance the Disney brand and create value for our shareholders while we invest for future growth.”

7. Mattress Firm Holding Corp. (Nasdaq: MFRM) announced that the Company and Steinhoff International Holdings N.V. have entered into a definitive merger agreement under which Steinhoff will, subject to the successful consummation of a cash tender offer and satisfaction of other customary closing conditions, acquire Mattress Firm for $64.00 per share in cash.

8. NVIDIA (Nasdaq: NVDA) reported Q2 EPS of $0.53, which was $0.16 better than the analyst estimate of $0.37. Revenue for the quarter came in at $1.43 billion versus the consensus estimate of $1.35 billion. The company said that FY17 revenue is expected to be $1.68 billion, plus or minus two percent. (The Street was looking for FY17 revenue of $1.425 billion.)

9. SGI (Nasdaq: SGI) announced that it has signed a definitive agreement to be acquired by Hewlett Packard Enterprise (NYSE: HPE) for $7.75 per share in cash, a transaction valued at approximately $275 million, net of cash and debt.

10. The Producer Price Index for final demand decreased 0.4 percent in July, seasonally adjusted, the U.S. Bureau of Labor Statistics reported Friday. (The Street was looking for a flat result.) Final demand prices rose 0.5 percent in June and 0.4 percent in May. On an unadjusted basis, the final demand index moved down 0.2 percent for the 12 months ended in July.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Special Reports

Related Entities

Standard & Poor's, Earnings, Definitive Agreement

Comments

pak haji ridwan
pak haji ridwan on 2016-08-12 21:12:10
Mark as Spam | Reply to this comment

Izinkan kami membantu anda semua dengan Angka ritual Kami..Kami dengan bantuan Supranatural Bisa menghasilkan Angka Ritual Yang Sangat Mengagumkan…Bisa Menerawang Angka Yang Bakal Keluar Untuk Toto Singapore,Hongkong,Macau,Sydney,Malaysia Dll…Kami bekerja tiada henti untuk bisa menembus angka yang bakal keluar hari ini..dengan Jaminan 100% WIN/TEMBUS…!!!! Tapi Ingat Kami Hanya Memberikan Angka Ritual Kepada Anda Yang Benar-benar Dengan Sangat Membutuhkan Angka Ritual Kami..Kunci Kami Anda Harus OPTIMIS Angka Bakal Tembus…Hanya dengan Sebuah Optimis Anda bisa Berhasil & Sukses...

APAKAH ANDA TERMASUK DALAM KATEGORI DI BAWAH INI :
1. Dililit Hutang
2. Selalu Kalah Dalam Bermain Togel
3. Barang Berharga Anda Sudah Habis Karna Sering Kalah Judi Togel
4. Anda Sudah Kemana-mana Tapi Bahkan Sama Sekali Tidak Mendapat Solusi Yang Tepat Jangan Anda Putus Asa. Anda sudah berada di blog yang sangat tepat.Pak Haji Ridwan akan membantu anda dengan angka ritual/ramalan. Anda Cukup Membayar/Mengganti Biaya Ritualnya Saja.alamat.JL.poris indah. no.10A.cipondoh indah - tangerang - BANTEN. Tlp. 0852 1343 3456 atau KLIK http://pesugihanputih45.blogspot.co.id/.

pak haji ridwan
pak haji ridwan on 2016-08-12 21:11:02
Mark as Spam | Reply to this comment

Izinkan kami membantu anda semua dengan Angka ritual Kami..Kami dengan bantuan Supranatural Bisa menghasilkan Angka Ritual Yang Sangat Mengagumkan…Bisa Menerawang Angka Yang Bakal Keluar Untuk Toto Singapore,Hongkong,Macau,Sydney,Malaysia Dll…Kami bekerja tiada henti untuk bisa menembus angka yang bakal keluar hari ini..dengan Jaminan 100% WIN/TEMBUS…!!!! Tapi Ingat Kami Hanya Memberikan Angka Ritual Kepada Anda Yang Benar-benar Dengan Sangat Membutuhkan Angka Ritual Kami..Kunci Kami Anda Harus OPTIMIS Angka Bakal Tembus…Hanya dengan Sebuah Optimis Anda bisa Berhasil & Sukses...

APAKAH ANDA TERMASUK DALAM KATEGORI DI BAWAH INI :
1. Dililit Hutang
2. Selalu Kalah Dalam Bermain Togel
3. Barang Berharga Anda Sudah Habis Karna Sering Kalah Judi Togel
4. Anda Sudah Kemana-mana Tapi Bahkan Sama Sekali Tidak Mendapat Solusi Yang Tepat Jangan Anda Putus Asa. Anda sudah berada di blog yang sangat tepat.Pak Haji Ridwan akan membantu anda dengan angka ritual/ramalan. Anda Cukup Membayar/Mengganti Biaya Ritualnya Saja.alamat.JL.poris indah. no.10A.cipondoh indah - tangerang - BANTEN. Tlp. 0852 1343 3456 atau KLIK http://pesugihanputih45.blogspot.co.id/.

this is for real
Crawford Ryan on 2016-08-12 19:36:50
Mark as Spam | Reply to this comment



Hey Guys!!!Am so happy I got mine from Annie. My blank ATM card can withdraw $2,000 daily. I got it from Her last week and now I have $8,000 for free. The blank ATM withdraws money from any ATM machines and there is no name on it, it is not traceable and now i have money for business and enough money for me and my family to live on .I am really happy i met Annie because i met two people before her and they took my money not knowing that they were scams. But am happy now. Annie sent the card through DHL and i got it in two days. Get your own card from her now she is not like other scammer pretending to have the ATM card,She is giving it out for free to help people even if it is illegal but it helps a lot and no one ever gets caught. im grateful to Annie because she changed my story all of a sudden . The card works in all countries atmmachinehackes@gmail.com


Add Your Comment