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Zacks #1 Stocks on the Move 05/04/2016

Company Name Symbol %Change
NUSTAR GP HO NSH
7.29%
WINDSTREAM H WIN
7.14%
HEADWATERS HW
5.29%
CENTRAL VALL CVCY
4.84%
SPARK ENERGY SPKE
4.44%

Tale of the Tape

PG&E Corporation (PCG) Beats on Earnings & Revenues

Posted Wed May 04, 10:22 am ET

by Zacks Equity Research

PG&E Corporation PCG, a diversified utility holding company, engages in the business of electricity and natural gas distribution; electricity generation, procurement, and transmission; and natural gas procurement, transportation and storage.

Stable financial position, steady growth in customer counts, a well-set of utility assets and disciplined investments in infrastructure projects will likely boost PG&E Corp.’s future performance In addition, the company’s practice of paying dividend is commendable.

However, penalties levied for the San Bruno and Carmel incidents, stringent environmental regulations and several operational risks remain potential setbacks.

Estimate Trend & Surprise History

Investors should note that the recent earnings estimate for PG&E Corp. has remained stable over the past 30 days. The company currently has a Zacks Rank #3 (Hold).

Coming to the earnings surprise, PG&E Corp. has surpassed the Zacks Consensus Estimate in three of the last four quarters with an average beat of 12.13%.

Going further things could definitely change given the company’s recently released earnings results. Going below we have mentioned some of the vital information from this just-revealed announcement:

Earnings: PG&E Corp. beat earnings estimates in the first quarter 2016 results. Our consensus called for EPS of 76 cents, and the company reported EPS of 82 cents.

Revenue: The company also surpassed on revenues. Our consensus called for revenues of $3,859 million, and the company reported revenues of $3,974 million

Check back later for our full write up on this PCG earnings report later!

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Melco Crown (MPEL) Q1 Earnings Beat Estimates

Posted Wed May 04, 10:17 am ET

by Zacks Equity Research

Melco Crown Entertainment Limited MPEL operates casino gaming and entertainment resort facilities in Asia. In order to cash in on a fast growing Philippine economy and increased tourism, Melco Crown launched its long-awaited new integrated casino resort, City of Dreams Manila. It is a part of the company’s plans to have casinos across Asia.

Meanwhile, Melco Crown earns a better part of its revenues from Macau, the only gambling destination in China. However, gambling revenues in Macau are currently slowing down due to anti-graft corruption drive undertaken by the Chinese government.

China's crackdown on illegal money transfers; credit growth issues and tighter restrictions on visas have had a negative impact on revenues in this region. The weakening of yuan further dent Macau’s gambling revenues as it gets more expensive for Chinese gamblers to place bets. Also, slowdown in the Chinese economy is hurting the mass market segment.

Investors should also note that the earnings estimates for MPEL have remained stable over the past 30 days. Meanwhile, MPEL has a poor history in earnings season. Melco Crown has missed earnings results in two of the last four quarters, making for an average negative surprise of 12.12%.

Currently, MPEL has a Zacks Rank #3 (Hold) but that could change following Melco Crown’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: MPEL beats on adjusted earnings. Our consensus earnings estimate called for EPS of 5 cents per share, and the company reported adjusted earnings per share of 7 cents instead. Investors should note that these figures take out stock option expenses.

Revenues: MPEL reported revenues of $1.10 billion. This missed our consensus estimate of $1.23 billion.

Key Stats to Note: Adjusted Property EBITDA was $248.8 million, down 2% year over year due to lower contribution from the group-wide rolling chip segment, partially offset by the contribution from the newly launched Studio City and the City of Dreams Manila.

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AGL Resources (GAS) Q1 Earnings Miss, Revenue Down

Posted Wed May 04, 10:15 am ET

by Zacks Equity Research

Atlanta, GA-based AGL Resources Inc. GAS is an energy services holding company whose principal business is gas distribution. Through its seven utilities (Atlanta Gas Light, Chattanooga Gas, Elizabethtown Gas, Elkton Gas, Florida City Gas, Nicor Gas and Virginia Natural Gas) the company builds, manages and maintains intrastate natural gas pipelines, distribution facilities and peaking and storage facilities. AGL Resources serves about 4.5 million customers across seven states.

Currently, AGL Resources has a Zacks Rank #3 (Hold) but that could change following its first quarter 2016 earnings report which has just released. Coming to earnings surprise history, the company has a dismal track record: its missed estimates in 3 of the last four quarters.

We have highlighted some of the key details from the just-released announcement below:

Earnings: AGL Resources misses earnings. Adjusted earnings came in at $1.30, lower than the Zacks Consensus Estimate of $1.64.

Revenue: Revenues down. Revenues of $1,334 million were below the year-ago figure of $1,721 million.

Key Stats: Distribution Operations reported earnings before interest and taxes (EBIT) of $234 million, up from $228 million in the first quarter of 2015, while the Retail segment achieved an EBIT of $80 million as against $87 million a year ago. AGL Resources’ Wholesale Services earned $44 million for the quarter, down from $56 million earned in the corresponding period of 2015. Finally, Midstream Operations reported a loss of $1 million, narrower than last year’s loss of $2 million.

Check back later for our full write up on this AGL Resources earnings report later!

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Magellan Midstream (MMP) Beats on Q1 Earnings Estimates

Posted Wed May 04, 10:07 am ET

by Zacks Equity Research

Tulsa, OK-based Magellan Midstream Partners LP MMP is a master limited partnership (MLP) that owns and operates a diversified portfolio of energy infrastructure assets. The partnership primarily transports, stores, and distributes refined petroleum products and, to a lesser extent, ammonia.

Currently, Magellan Midstream has a Zacks Rank #3 (Hold) but that could change following its first-quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:  

Earnings: The partnership reported earnings per unit (EPU) – excluding mark-to-market commodity-related pricing adjustments – of 87 cents, surpassed the Zacks Consensus Estimate of 83 cents.   

Revenue: Total revenues of $519.8 million beat the Zacks Consensus Estimate of $513.4 million.    

Key Stats: In the Refined Products segment, quarterly operating profits were recorded at $170.9 million, down almost 7% from the year-ago quarter. However, the partnership’s operating margin from Crude Oil unit was approximately $100.7 million, up 19% from the prior-year quarter.

Check back later for our full write up on this Magellan Midstream earnings report later!  

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Sempra Energy (SRE) Misses on Q1 Earnings, Revenues Up

Posted Wed May 04, 09:30 am ET

by Zacks Equity Research

Sempra Energy SRE, an energy services holding company, engages in the sale, distribution, storage and transportation of electricity and natural gas. The San Diego, CA-based firm’s businesses are divided into California Utilities, Sempra International and Sempra U.S. Gas & Power.

Sempra Energy’s stable cash generating capacity, several development projects, steady focus on expansion of renewable capacity and systematic asset divestment strategy is expected to boost its future performance. In addition, the company’s practice of paying dividend is commendable.

However, stringent government regulations and several operational risks remain potential setbacks.

Estimate Trend & Surprise History

Investors should note that the recent earnings estimate for Sempra Energy has remained stable over the past 7 days at $1.63. The company currently has a Zacks Rank #4 (Sell).

Coming to the earnings surprise, Sempra Energy has surpassed the Zacks Consensus Estimate in the last four quarters with an average beat of 15.81%.

Going further things could definitely change given the company’s recently released earnings results. Going below we have mentioned some of the vital information from this just-revealed announcement:

Earnings: Sempra Energy missed the earnings expectation by 9.8%. Our consensus called for first-quarter EPS of $1.63, and the company reported adjusted EPS of $1.47.

The company reported total revenue of $2,622 million, down from $2,682 million a year-ago.

Key Stats to Note: The company provided its 2016 adjusted EPS guidance in the range of $4.60 to $5.00, down from the prior guidance range of $4.80 to $5.20.

Check back later for our full write up on this SRE earnings report later!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
 

Ionis Pharmaceuticals' (IONS) Q1 Loss Wider than Expected

Posted Wed May 04, 09:08 am ET

by Zacks Equity Research

Carlsbad, CA-based Ionis Pharmaceuticals, Inc.  IONS is a drug discovery and development company that focuses on the development of products using ribonucleic acid (RNA)-based technologies, such as antisense. The company discovers new drugs and out-licenses them to partners for license fees, milestone payments, and royalties. Ionis has partnership agreements with several leading health care companies like Biogen and GlaxoSmithKline among others.

Ionis’ only approved product, Kynamro (homozygous familial hypercholesterolemia), is marketed in the U.S. and other major markets.

Meanwhile, the company has a deep pipeline with several candidates in mid or final stages of development. Some promising candidates include IONIS-TTRRx (transthyretin amyloidosis – phase III), nusinersen (spinal muscular atrophy in infants and children – phase III) and volanesorsen (familial chylomicronemia syndrome and familial partial lipodystrophy – phase III) among others.

In this scenario, investor focus remains on late-stage pipeline candidates and their commercial potential apart from the usual top-and bottom-line numbers.

Ionis’ track record has been disappointing so far. Over the four trailing quarters, the company has posted an average negative earnings surprise of 1.21%, having beaten estimates in two quarters and missed it in the other two.

Currently, Ionis has a Zacks Rank #2 (Buy) but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Ionis reported a wider-than-expected loss in the first quarter of 2016. The company reported a loss of 52 cents per share while our consensus called for a loss of 50 cents.

Revenues: Revenues were also below expectations. Ionis posted revenues of $36.9 million, compared to our consensus estimate of $40 million.

Key Stats: Ionis continues to progress with its pipeline and earn milestone payments for the same. It plans to complete phase III studies on nusinersen, IONIS-TTRRx and volanesorsen in 2016. Data from these studies are expected in the first half of 2017. Currently, the company is engaged in preparing New Drug Applications for all the three candidates.

Check back later for our full write up on this Ionis earnings report later!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

Intercontinental Exchange (ICE) Beats on Q1 Earnings

Posted Wed May 04, 09:05 am ET

by Zacks Equity Research

Intercontinental Exchange, Inc. ICE is the largest global stock and derivative exchange operator post the NYSE acquisition in Nov 2013. With disciplined expense management, strategic acquisitions and consistent focus on organic growth initiatives boost operating leverage.

Timely achievement of cost synergies and global expansion strategy are expected to contribute positively to earnings. Alongside, strong operating cash flow and improved financial leverage also help maintain a healthy balance sheet.

Intercontinental Exchange’s tactical business model is crucial for countering risks from stiff competition, currency fluctuations, weak rate per contract and regulatory challenges.

Overall, Intercontinental Exchange surpassed estimates in three of the last four quarters that led to an average earnings surprise of +3.4 %.

Currently, Intercontinental Exchange has a Zacks Rank #4 (Sell), but that could definitely change following its second-quarter earnings report that has just been released. The key takeaways from this immediate announcement are highlighted below:

Earnings: Intercontinental Exchange earnings beat our expectations. Our consensus called for EPS of $3.67, while the company reported $3.68.

Revenue: Net revenues marginally missed our estimate. The company reported revenues of $1.15 billion, compared to our consensus of $1.16 billion.

Key Stats to Note: Total operating expenses soared 46.9% year over year to $570 million in the first-quarter. Operating income improved 26.4% to $584 million.    

Long-term debt stood at $4.7 billion, inched up 0.02% from 2015-end level.

In the reported quarter, Intercontinental Exchange returned over $100 million through dividends.

The company expects adjusted operating expenses in the range of $495-$505 million for the second quarter of 2016 and $1.97- $2.0 billion for full-year 2016.

Check back later for our full write up on this Intercontinental Exchange earnings report later!

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Cliffs Natural Resources (CLF) Shares March Higher, Can It Continue?

Posted Wed May 04, 09:01 am ET

by Zacks Equity Research

Cliffs Natural Resources Inc. CLF has been on the move lately as the stock has risen by 60.4% in the past four weeks, and it is currently trading well above its 20-Day SMA. This is a pretty solid move higher, but the question that has to be on investors’ minds right now is; can this trend continue?

While there can be no telling for sure, it is certainly encouraging that earnings estimates have risen in the past few weeks on the company, suggesting that sentiment on CLF is moving in the right direction. In fact, the stock currently has a Zacks Rank #2 (Buy), suggesting that the recent run could certainly continue for this in-focus company. 

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

Will Agnico Eagle Mines (AEM) Continue to Surge Higher?

Posted Wed May 04, 09:01 am ET

by Zacks Equity Research

As of late, it has definitely been a great time to be an investor in Agnico Eagle Mines Limited AEM. The stock has moved higher by 25.5% in the past month, while it is also above its 20 Day SMA too. This combination of strong price performance and favorable technical, could suggest that the stock may be on the right path.

We certainly think that this might be the case, particularly if you consider AEM’s recent earnings estimate revision activity. From this look, the company’s future is quite favorable; as AEM has earned itself a Zacks Rank #2 (Buy), meaning that its recent run may continue for a bit longer, and that this isn’t the top for the in-focus company.

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Can The Uptrend Continue for AXT (AXTI)?

Posted Wed May 04, 09:01 am ET

by Zacks Equity Research

Investors certainly have to be happy with AXT Inc. AXTI and its short term performance. After all, the stock has jumped by 18.8% in the past 4 weeks, and it is also above its 20 Day Simple Moving Average as well. This is certainly a good trend, but investors are probably asking themselves, can this positive trend continue for AXTI?

While we can never know for sure, it is pretty encouraging that estimates for AXTI have moved higher in the past few weeks, meaning that analyst sentiment is moving in the right way. Plus, the stock actually has a Zacks Rank #1 (Strong Buy), so the recent move higher for this spotlighted company may definitely continue over the next few weeks.

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