Jefferies Cuts Estimates on Medtronic (MDT) Following 2Q Report

Needham & Company Cuts Price Target on Medtronic (MDT) to $84 Following 2Q

Needham & Company maintained a Buy rating on Medtronic, Inc. (NYSE: MDT), and cut the price target to $84.00 (from $95.00), following the company's 2Q earnings report. Revenue was reported at $7.345B, missing consensus of $7.450B. Adjusted EPS was $1.12 vs. consensus of $1.11.

Analyst Mike... More

Medtronic (MDT) PT, Estimates Lowered at Evercore ISI

Evercore ISI cut estimates and its price target on Medtronic, Inc. (NYSE: MDT) to $80.00 (from $94.00) but maintained a Buy rating following Q2 results.

FY 2017 EPS goes from $4.70 to $4.56, FY 2018 EPS from $5.25 to $5.00 and FY 2019 EPS from $5.85 to $5.50.

Analyst Vijay Kumar commented, "he thesis that MDT was a safe haven name in troubled times took a beating post a revenue miss (in line EPS) and a guidance reduction. The headline numbers were soft across the board, organic growth decelerated ~200 bps sequentially (or ~$150 MM). With the stock now trading at... More

Pre-Open Stock Movers 11/22: (AVXL) (BURL) (SIG) Higher; (PDCO) (PANW) (DY) Lower (more...)

Today's Pre-Open Stock Movers:

Anavex Life Sciences Corp. (Nasdaq: AVXL) 21.9% HIGHER; announced a positive 41-week update from its Phase 2a study in mild-to-moderate Alzheimers disease (AD) patients for ANAVEX 2-73, which targets cellular homeostasis. At 41 weeks, Alzheimers patients taking a daily oral dose of ANAVEX 2-73 in the exploratory, not yet dose optimized Phase 2a clinical trial, showed a stabilization of cognitive and functional measures. This data of stabilization is promising since... More

Medtronic sales disappoint, firm lowers forecast; shares fall

By Bill Berkrot and Akankshita Mukhopadhyay

(Reuters) - Medtronic Plc (NYSE: MDT) on Tuesday reported quarterly sales below Wall Street's expectations for virtually all its major product lines and cut its full-year earnings forecast, and the medical device maker's shares fell more than 8 percent.

Medtronic now expects adjusted earnings of $4.55 to $4.60 per share for the fiscal year ending April 28, 2017, down from its prior view of $4.60 to $4.70. It sees percentage revenue growth for the second half of fiscal 2017 in the mid-single digit range.

Chief Executive Omar Ishrak acknowledged that the quarterly... More

Wall Street extends record streak, Dow breaks 19,000 for first time

By Caroline Valetkevitch

NEW YORK (Reuters) - U.S. stocks extended their post-U.S. election rally on Tuesday with moderate gains that pushed the Dow above 19,000 for the first time and the three major indexes to record closing levels for a second straight day.

The S&P 500 ended above 2,200, led by gains in telecommunications , up 2.1 percent, and consumer discretionaries , up 1.2 percent. The small-cap Russell 2000 index also set another record high close.

Stocks have mostly rallied since the Nov. 8 election. Investors see President-elect Donald Trump's promises of tax cuts, higher spending on infrastructure and less... More

Medtronic (MDT) Tops Q2 EPS by 1c

Medtronic (NYSE: MDT) reported Q2 EPS of $1.12, $0.01 better than the analyst estimate of $1.11. Revenue for the quarter came in at $7.35 billion versus the consensus estimate of $7.46 billion.

"Q2 revenue was disappointing and did not meet our expectations. We faced issues that affected our growth, including slower than expected revenue as we await new product introductions, particularly in CVG and Diabetes," said Omar Ishrak, Medtronic chairman and chief executive officer. "Despite this revenue shortfall, we produced a strong improvement in operating margins and double digit constant currency earnings per share... More

Medtronic (MDT) volatility increases into Q2 and outlook

Medtronic (NYSE: MDT) November weekly call option implied volatility is at 34, December is at 21, January is at 19; compared to its 52-week range of 13 to 30 into Q2 results on November 22.

Trading Radar 11/22: HP, Inc. (HPQ), Dollar Tree (DLTR), Signet Jewelers (SIG), Barnes & Noble (BKS), Nimble Storage (NMBL) Report

The Trading Radar highlights key earnings and economic announcements for the next trading session:

Before Markets Open:
Earnings:

American Woodmark (Nasdaq: AMWD) - consensus EPS $1.17
Analog Devices (Nasdaq: ADI) - consensus EPS $0.89
Azure Power (Nasdaq: AZRE) - no Street consensus
Barnes & Noble (NYSE: BKS) - consensus loss $0.34
Burlington Stores (NYSE:... More