Cantor Morning News | Healthcare

Med device companies continue to get hammered. PBMs still act awful had a dead cat bounce in a few look for selling into any strength. HMO index appears to be breaking out of a triangle pattern to the downside look for further weakness.

Active Names

Biotech/Pharma: MNTA TLCR ARNA LLY JAZZ

Healthcare Services: PSSI ABC THC UAM ALGN MMSI KCI PRXL

Restaurants/Publishing/Retail: OMC MDP JACK HIS

Earnings

MCK McKesson reports Q1 EPS $1.10 vs $1.09. Company reports revenues of $27.45B vs Reuters $27.27B. Reaffirms full year EPS guidance of $4.72-4.92 vs Reuters $4.84.

AGP Amerigroup Revs $1.44B vs $1.43B. EPS not comparable

BIOS BioScrip guides to lower end

MRK Merck .86c ex-items vs .83c. Revenues $11.35B vs $11.49B. Reaffirms guidance.

CVH Coventry Health reports Q2 adjusted EPS $1.01 vs. consensus of 52c – Reports Q2 revenue $2.87B vs. consensus of $2.84B. guides revenues to $11.25-$11.50B compared to prior guidance of $11.130-$11.525B and Reuters $11.35B.

RUTH Ruth's Hospitality reports Q2 EPS 9c vs. consensus of 10c - Reports Q2 revenue $89M vs. consensus of $91.83M. Company-owned comparable restaurant sales for Ruth?s Chris Steak House increased 2.9%.

VOLC Volcano reports Q2 EPS $0.10 vs Reuters $0.00 Company reports revenues of $73.5M vs Reuters $68.5M. Reaffirms full year EPS guidance of $0.05-$0.10 vs Reuters $0.05; guides revenues to $286M-$290M vs Reuters $283.5M and prior guidance of $277M-$282M.

THOR Company reports revenues of $95.1M vs Reuters $97.8M. Guides full year EPS to $1.19-1.23 vs Reuters $1.23, increased from previous $1.14-1.19; guides revenue $380-385M vs Reuters $401.3M, increased from previous $365-375M.

Sector News, M&A, Capital Raises

GERN Geron to proceed with first human clinical trial of embryonic stem cell-based therapy

ILMN Illumina files to sell 1.1M shares of common stock for holders

CRL Charles River, WuXi PharmaTech (WX) announce mutual termination of acquisition agreement

KG King Pharma Purdue agreed not to sue the King Parties or their affiliates in the United States with regard to the manufacture, use or sale of Embeda

Research Away

HUM Humana upgraded to Market Perform from Underperform at BMO Capital – Target $48.

BIIB Biogen Idec downgraded to underperform from market perform at Bernstein. Tgt $51

MYL Mylan downgraded to Perform from Outperform at Oppenheimer

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