Top Research Reports: Bristol-Myers, CME Group, Chubb & More
Zacks Investment Research | Aug 08, 2019 10:57PM ET
Friday, August 9, 2019
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features updated research reports on 16 major stocks, including Bristol-Myers (BMY), CME Group (CME) and Chubb (NYSE:CB). These research reports have been hand-picked from roughly 70 reports published by our analyst team today.
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Bristol-Myers’ shares have underperformed the Zacks Large Cap Pharmaceuticals industry in the year-to-date period, losing -9% vs. -1.2%. Bristol-Myers reported impressive second-quarter results. It beat on both earnings and sales largely due to robust sales of immuno-oncology drug Opdivo and blood thinner drug Eliquis. Label expansion of Opdivo into additional indications continues to drive sales. The Zacks analyst thinks impending acquisition of Celgene Corporation (NASDAQ:CELG) will broaden Bristol-Myers’ portfolio but associated delays are disappointing. Moreover, the company’s decision to divest Celgene’s blockbuster drug Otezla raises questions about targeted synergies. Also, pipeline setbacks are a concern. The failure of part 2 of the Checkmate-227 study was a disappointment, given the potential of the NSCLC market. Additionally, the approval of Merck’s Keytruda for first-line NSCLC adds to Bristol-Myers’ woes.
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Shares of CME Group have outperformed the Zacks Securities and Exchanges industry over the past three months, gaining +15.4% versus +14.5%. CME Group’s second-quarter EPS beat estimates. The Zacks analyst thinks the company remains well-poised for growth given its strong market position, which is attributable to varied derivative product lines. Efforts to expand and cross sell through strategic alliances, acquisitions, new product initiatives and a stable global presence bode well. Product innovation and a growing proportion of volume from customers outside the United States have been aiding results. The company intends to focus more on over-the-counter clearing services. However, its diversified product portfolio has significant exposure to interest rate volatility and currency fluctuations. Firm government regulations and limited credit availability in the current unstable capital and credit markets are the other negatives. Moreover, the company has been witnessing escalating expenses.
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Chubb’s shares have gained +22.2% year to date, outperforming the Zacks Property, Casualty and Title industry, which has increased +3.2% over the same period. Chubb’s second-quarter EPS beat estimates on prudent underwriting, premium growth and better pricing. The Zacks analyst thinks the insurer will benefit from a suite of compelling products and services. Its inorganic growth story is also impressive, helping it to achieve a higher long-term return on equity. Increased scale, efficiency and a solid balance sheet will continue to lend a competitive edge. Chubb estimates solid growth in Overseas General operations (both commercial and consumer lines) going forward. A strong capital position will allow it to boost shareholder return and invest in strategic growth initiatives. However, exposure to cat loss remains a concern. Also, mounting expenses will curb margin expansion.
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Other noteworthy reports we featured today include Exelon (EXC), Hershey (HSY) and Newmont Goldcorp (NEM).
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Today's Must Read/h6
Featured Reports/h6
Per the Zacks analyst, Exelon's cost management initiatives will have a positive impact on margins while investments worth $23 billion in the next four years will strengthen its operations.
While the company faces headwind from high production costs, it should gain from investment in its growth projects and efforts to improve efficiency, per the Zacks analyst.
Per the Zacks analyst, Hershey's Margin for Growth plan is set to keep enhancing the company's margins through supply chain optimization, a streamlined operating model and lower administrative costs.
Per the Zacks analyst, PSEG's regular investments in infra projects bolsters its growth prospects.
Per the Zacks analyst, Church & Dwight is set to gain from solid organic sales, which was backed by better mix, volumes and pricing in second quarter.
Per the Zacks analyst, buyouts like Granta Design and Helic are enabling ANSYS to bring innovative solutions to the market and are helping it fortify its foothold in the simulations market.
Per the Zacks analyst, HCP's efforts to revamp and expand its portfolio though buyouts will strengthen core segments.
Per the Zacks analyst, Exelon's cost management initiatives will have a positive impact on margins while investments worth $23 billion in the next four years will strengthen its operations.
While the company faces headwind from high production costs, it should gain from investment in its growth projects and efforts to improve efficiency, per the Zacks analyst.
Per the Zacks analyst, Hershey's Margin for Growth plan is set to keep enhancing the company's margins through supply chain optimization, a streamlined operating model and lower administrative costs.
Per the Zacks analyst, PSEG's regular investments in infra projects bolsters its growth prospects.
Per the Zacks analyst, Church & Dwight is set to gain from solid organic sales, which was backed by better mix, volumes and pricing in second quarter.
Per the Zacks analyst, buyouts like Granta Design and Helic are enabling ANSYS to bring innovative solutions to the market and are helping it fortify its foothold in the simulations market.
Per the Zacks analyst, HCP's efforts to revamp and expand its portfolio though buyouts will strengthen core segments.
New Upgrades/h6
The Zacks analyst believes that huge acreage holdings in the prospective Eagle Ford Shale play will drive ConocoPhillips' oil production in the coming quarters.
Per the Zacks analyst, Barclays' business simplification and restructuring efforts will likely help in improving efficiency. Lower expenses, driven by its cost-saving efforts will aid profits.
Per the Zacks analyst, Northern Trust's rising revenues on the back of growing assets base and focus on expanding client base reflect strong organic growth. Also, capital position remains a tailwind.
The Zacks analyst believes that huge acreage holdings in the prospective Eagle Ford Shale play will drive ConocoPhillips' oil production in the coming quarters.
Per the Zacks analyst, Barclays' business simplification and restructuring efforts will likely help in improving efficiency. Lower expenses, driven by its cost-saving efforts will aid profits.
Per the Zacks analyst, Northern Trust's rising revenues on the back of growing assets base and focus on expanding client base reflect strong organic growth. Also, capital position remains a tailwind.
New Downgrades/h6
Per the Zacks analyst, currency fluctuation, raw material inflation and lower custom tooling sales in the Beauty + Home segment will impact AptarGroup's results in the near term.
The Zacks analyst is concerned about the sub-par performance of the distribution and services segment. This weakness forced the company to trim its earnings view for 2019.
Per the Zacks analyst, lower core sales and adverse currency impact have been hurting Newell's top line. Core sales are likely to decline to low single digits in 2019.
Per the Zacks analyst, currency fluctuation, raw material inflation and lower custom tooling sales in the Beauty + Home segment will impact AptarGroup's results in the near term.
The Zacks analyst is concerned about the sub-par performance of the distribution and services segment. This weakness forced the company to trim its earnings view for 2019.
Per the Zacks analyst, lower core sales and adverse currency impact have been hurting Newell's top line. Core sales are likely to decline to low single digits in 2019.
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