Sector Summary: S&P Health Care Index Modestly Underperforming Broader Market
The S&P Health Care Index is trading +1.25% higher vs a +1.5% gain for the S&P 500 some items of note today include:
In corporate news, Genomic Health (GHDX -0.1%) announced results from nine studies utilizing the Oncotype DX test in early-stage breast cancer patients… Alnylam Pharma (ALNY -1.2%) responded to Tekmira (TKMR -13%) complaint. Co maintained its guidance regarding its pipeline, partnership, and cash goals… Cardiovascular Systems (CSII +3.3%) received FDA 510(k) marketing clearance for stealth 360 orbital PAD system… China Biologic Products (CBPO -7.8%) delayed its annual filing; issued prelim 2010 results; co expects 2010 revs below consensus.
In earnings news, Medivation (MDVN -0.6%) reported a Q4 loss of $0.11 per share, $0.06 better than the consensus of ($0.17)… SciClone Pharma (SCLN -15%) delayed filing its 10-K; reported preliminary Q4 revenues in-line; expected to see 2010 EPS below consensus.
In notable research, Sequenom (SQNM +2%) initiated with an Outperform and $9 tgt at Oppenheimer… Cepheid (CEPH +0.3%) initiated with a Outperform and $33 tgt at Oppenheimer.
Sector Summary: S&P Consumer Discretionary Index +1.1%, modestly underperforming the broader market
The consumer discretionary group is slightly underperforming the broader market in early trade. The retail group is in the green with the Retail HOLDRS Trust (RTH) up 0.6%, the S&P Retail (RLX) up 0.5% and the SPDR S&P Retail ETF (XRT) up 0.5%. Trading on upside: Delia*s (DLIA +5.1%) reported Q4 EPS of $0.02 ($0.7 mln), including a $2.1 mln tax benefit, may not compare to the ($0.06) single est; consensus; revs +1% YoY to $66.9 mln vs $67.50 mln single est… The Children’s Place (PLCE +1.4%) upgraded to Outperform from Market Perform at BMO Capital; tgt $58… Trading on the downside: Guess? (GES -12.0%) beat by $0.05, beat on revs; guided Q1 EPS below consensus, revs below consensus; guided FY12 EPS below consensus, revs in-line… lululemon athletica (LULU -4.5%) beat by $0.07, beat on revs; guided Q1 EPS in-line, revs below consensus; guided FY12 EPS above consensus, revs in-line… Nearly unchanged: Cato (CATO) beat single est by $0.01, guided Q1 EPS above single est, FY12 EPS in-line and restated FY10 results after inventory valuation method change…
Select casino/gaming names are seeing early strength. Some names trading higher include: MPEL +3.1%, MGM +2.4%, IGT +2.0%,BYD +1.8%, PNK +1.5%, LVS +0.5%
Japan related stocks rebounding. Some names in the green include: PC +7.2%, CHBT +5.6%, SUP +5.0%, SNE +5.3%, NSANY +4.5%,CEU +3.4%, HMC +3.2%.
Other notable mentions: Leaders: Smithfield Foods (SFD +1.1%) initiated with a Hold at Morgan Joseph… Laggards: Winnebago Inds (WGO -7.8%) beat by $0.05, missed on revs.
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