Tag Archives: request

Perrigo Misses Q4 Estimates As Omega Buyout Off To Shaky Start

Generic drugmaker Perrigo ( PRGO ) dipped in morning trading Thursday after its Q4 earnings missed estimates, with guidance also on the low side. Excluding one-time items, Perrigo made $1.80 a share in the quarter, down 1% from the year-earlier quarter and missing analysts’ consensus by 13 cents, according to Thomson Reuters. Revenue rose 33% to $1.43 billion, about $35 million below consensus. For the full year, EPS rose 21% to $7.59, while sales increased 28% to $5.35 billion. Perrigo guided 2016 earnings at $9.50 to $9.80 a share, compared with consensus of $9.74. The Q4 revenue gain came largely through the acquisition of European over-the-counter drugmaker Omega Pharma last March, supplemented by the buyout of some over-the-counter brands from GlaxoSmithKline ( GSK ) in August. This led Perrigo to create a new division called Branded Consumer Healthcare, but CEO Joseph Papa admitted that this unit was also responsible for the miss. “Although the segment did not meet our internal expectations, we are taking specific actions to address this performance,” Papa said in the company’s press release. Perrigo stock hit a 21-month low of 130.66 in early trading on the stock market today . By late morning, it was down 9%, near 132. The stock is 38% off its 52-week high, though last year it was pumped up by Mylan ‘s ( MYL ) ultimately unsuccessful takeover attempt. It retains a relatively high IBD Composite Rating of 79.

Google CEO, Facebook’s WhatsApp Founder Back Apple Over Privacy

Apple ( AAPL ) CEO Tim Cook took a strong stand late Tuesday against government pressure for help in hacking into the iPhone of one of the San Bernardino terrorists. Silicon Valley was relatively muted Wednesday, but Alphabet ( GOOGL ) unit Google CEO Sundar Pichai and WhatsApp founder and Facebook ( FB ) board member Jan Koum both came out in support of Cook’s stand. Pichai defended Apple in a series of Twitter ( TWTR ) posts, saying that “forcing companies to enable hacking could compromise users’ privacy.” 1/5 Important post by @tim_cook . Forcing companies to enable hacking could compromise users’ privacy — sundarpichai (@sundarpichai) February 17, 2016 He added in subsequent Twitter posts that Alphabet’s core Google unit gives “law enforcement access to data based on valid legal orders,” but “requiring companies to enable hacking of customer devices & data” could be a “troubling precedent.” A federal judge on Tuesday ordered Apple to provide “reasonable technical assistance” to the FBI to unlock an iPhone belonging to one of the killers in the San Bernardino shootings. But Cook said creating an iPhone backdoor would lead to more government demands and provide an opportunity to hackers and criminals. WhatsApp Founder Defends Apple Meanwhile, Jan Koum, founder of WhatsApp, wrote in a Facebook post: “I have always admired Tim Cook for his stance on privacy and Apple’s efforts to protect user data and couldn’t agree more with everything said in their Customer Letter today. We must not allow this dangerous precedent to be set. Today our freedom and our liberty is at stake.” Facebook acquired WhatsApp for $19 billion in 2014. Not surprisingly, Edward Snowden, the ex-NSA contractor who revealed the government’s widespread surveillance programs, also took to Twitter to defend Apple’s Cook. “The @FBI is creating a world where citizens rely on #Apple to defend their rights, rather than the other way around.” The @FBI is creating a world where citizens rely on #Apple to defend their rights, rather than the other way around. https://t.co/vdjB6CuB7k — Edward Snowden (@Snowden) February 17, 2016

Tesla Partner Nvidia Shatters Sales Records, Tops Q1 Views

Shares of Tesla Motors ( TSLA ) partner Nvidia ( NVDA ) rocketed in after-hours trading Wednesday, after the graphics processing unit-maker toppled Wall Street’s fiscal Q4 and 2016 views, and guided to fiscal Q1 sales vastly above consensus views. Nvidia stock was up nearly 8% in extended trading Wednesday, after releasing its financial results, after rising 2.5% in the regular session, to 27.66. Nvidia stock hit an eight-year high near 34 at the end of 2015, before the stock market’s rough start to 2016. For its fiscal Q4 Jan. 31, Nvidia reported a record $1.4 billion in sales, as well as 35 cents earnings per share, up 12% and flat, respectively, vs. the year-earlier quarter. Both metrics topped Wall Street expectations for $1.31 billion and 32 cents. Three months ago, Nvidia guided to $1.3 billion in sales, plus or minus 2%. Nvidia ended fiscal 2016 with $5.01 billion in sales and $1.08 EPS, up 7% and 4%, and topping the consensus model of 29 analysts polled by Thomson Reuters for $4.92 billion and $1.05. Current-quarter guidance shot well above the consensus. For fiscal Q1, Nvidia sees $1.26 billion in sales, plus or minus 2%. That would be up 9.5% year over year. Wall Street had modeled $1.23 billion. Analysts also expect 28 cents EPS, which would be up 17% vs. the year-earlier quarter. Nvidia doesn’t provide an EPS outlook. Nvidia CEO Jen-Hsun Huang, in the company’s earnings release, credited investments in PC gaming, virtual reality, deep learning and autonomous vehicles for the Q4 beat. He also expects Nvidia to delve further into the nascent Internet of Things market. “Deep learning is a new computing model that teaches computers to find patterns and make predictions, extracting powerful insights from massive quantities of data,” he said in the release. “We are working with thousands of companies that are applying the power of deep learning in fields ranking from life sciences and financial services to the Internet of Things.” MKM analyst Ian Ing said Tuesday he expects Nvidia to benefit from Facebook ( FB )-owned Oculus Rift’s pledge to release more than 100 VR games by the year’s end. Oculus recommends graphics processing units (GPUs) from Nvidia or rival Advanced Micro Devices ( AMD ).