Laux, Porter, Cavanaugh (212) 829-5484

Today's Healthcare Stories
News and Views | Active Names | Earnings | Sector News, M&A, Capital Raises | Research Away | Macro/Technicals

News and Views

 

Volume extremely light on an August Monday, small M&A deal in our space EndoPharm acquiring Penwest Pharmaceuticals PPCO for $5 p/share cash. We were active after the bell trading 500k, took a seller out, came out a 4.95 buyer of 100 +.

Continue to see action in OCR Omnicare especially on the sell side with the stock down 20 % since an earnings blow up last week, and the retirement  of the CEO the weekend prior.

Active Names

 

Biotech/Pharma:  PPCO PFE ARNA OREX MD SNTA NABI HGSI

Healthcare Services: MEND OCR HRC AMED STJ

Restaurants/Publishing/Retail: BKC MNI SSP JRN

Earnings

 

MDTH Medcath reports Q3 EPS $0.05 ex-items vs Reuters $0.05 Reports Q3: Revenues $131.8M vs Reuters $133.9M

PEGA Pegasystems Guides full year non-GAAP EPS to $1.02 and GAAP EPS to $0.30. Reuters is $0.89; reaffirms non-GAAP revenues to $360M, including $12M of revenue impacted by purchase accounting. Reuters is $355.0M

STEM StemCells  (.04c) vs (.07c). Revenues $244.1M vs $265.5M

After Bell

CFN CareFusion   .07c    $1.02B

Sector News, M&A, Capital Raises

 

VRTX Vertex Phase 3 ILLUMINATE study supports 24-week Telaprevir-Based Therapy with a response-guided regimen for people with Hep C.

AMRN Amarin MARINE trial completes patient enrollment, randomization into treatment phase

CXM Cardium Therapeutics files $50M mixed shelf

LH Laboratory Corp's board authorized a new stock repurchase program up to $250M

ENDP acquires PPCO $5.00 p/share cash. The company is reiterating its 2010 revenue guidance of between $1.63B and $1.68B dollars, but is now raising its 2010 adjusted diluted EPS financial guidance, in anticipation of the consummation of the Penwest transaction. Endo now estimates full year adjusted diluted EPS to be between $3.30 to $3.35 per share versus previous guidance of $3.25 to $3.30 per share

WEN Wendy's/Arby's International announced the signing of a major restaurant development agreement with Wenrus Restaurant Group Limited or WRG, an affiliate of Food Service Capital, in the Russian Federation.

HSIC Henry Schein Enters Into New $400 Mln Private Placement Shelf Facilities With Two Insurance Companies

Research Away

 

JNJ Johnson & Johnson downgraded to equal-weight from overweight at Morgan Stanley

Macro/Technicals

XLV: 29.86; -.77; -2.6%

Disclaimer: Prepared by staff of Cantor Fitzgerald & Co. ("Cantor") and is for information purposes only. It is not intended to form the basis of any investment decision, should not be considered a recommendation by Cantor or any other person and does not constitute an offer or solicitation with respect to the purchase or sale of any investment nor is it a confirmation of terms. Any calculations and valuations presented herein are intended as a basis for discussion. Sources of information are believed to be reliable but Cantor makes no representation and gives no warranty that the information contained herein is accurate or complete. Any opinions or estimates given may change. Cantor undertakes no obligation to provide recipients with any additional information or any update to or correction of the information contained herein. This material is intended solely for institutional investors and investors who Cantor reasonably believes are institutional investors. Cantor, its officers, employees, affiliates and partners shall not be liable to any person in any way whatsoever for any losses, costs or claims howsoever arising from any inaccuracies or omissions in the information contained herein or any reliance on that information. Cantor may have positions in financial instruments mentioned, may have acquired such positions at prices no longer available, and may have interests different or adverse to your interests. No liability is accepted by Cantor for any loss that may arise from any use of the information contained herein or derived here from. This product may not be reproduced or redistributed outside the recipient's organization. Sources: Cantor Fitzgerald & Co., Reuters, Bloomberg, CNBC, Dow Jones, Marketwatch, Trade-Alert, and the Wall Street Journal. ***All eco data from Bloomberg and DJ

Laux, Porter, Cavanaugh (212) 829-5484

Today's Healthcare Stories
News and Views | Active Names | Earnings | Sector News, M&A, Capital Raises | Research Away | Macro/Technicals

News and Views

 

Volume extremely light on an August Monday, small M&A deal in our space EndoPharm acquiring Penwest Pharmaceuticals PPCO for $5 p/share cash. We were active after the bell trading 500k, took a seller out, came out a 4.95 buyer of 100 +.

Continue to see action in OCR Omnicare especially on the sell side with the stock down 20 % since an earnings blow up last week, and the retirement  of the CEO the weekend prior.

Active Names

 

Biotech/Pharma:  PPCO PFE ARNA OREX MD SNTA NABI HGSI

Healthcare Services: MEND OCR HRC AMED STJ

Restaurants/Publishing/Retail: BKC MNI SSP JRN

Earnings

 

MDTH Medcath reports Q3 EPS $0.05 ex-items vs Reuters $0.05 Reports Q3: Revenues $131.8M vs Reuters $133.9M

PEGA Pegasystems Guides full year non-GAAP EPS to $1.02 and GAAP EPS to $0.30. Reuters is $0.89; reaffirms non-GAAP revenues to $360M, including $12M of revenue impacted by purchase accounting. Reuters is $355.0M

STEM StemCells  (.04c) vs (.07c). Revenues $244.1M vs $265.5M

After Bell

CFN CareFusion   .07c    $1.02B

Sector News, M&A, Capital Raises

 

VRTX Vertex Phase 3 ILLUMINATE study supports 24-week Telaprevir-Based Therapy with a response-guided regimen for people with Hep C.

AMRN Amarin MARINE trial completes patient enrollment, randomization into treatment phase

CXM Cardium Therapeutics files $50M mixed shelf

LH Laboratory Corp's board authorized a new stock repurchase program up to $250M

ENDP acquires PPCO $5.00 p/share cash. The company is reiterating its 2010 revenue guidance of between $1.63B and $1.68B dollars, but is now raising its 2010 adjusted diluted EPS financial guidance, in anticipation of the consummation of the Penwest transaction. Endo now estimates full year adjusted diluted EPS to be between $3.30 to $3.35 per share versus previous guidance of $3.25 to $3.30 per share

WEN Wendy's/Arby's International announced the signing of a major restaurant development agreement with Wenrus Restaurant Group Limited or WRG, an affiliate of Food Service Capital, in the Russian Federation.

HSIC Henry Schein Enters Into New $400 Mln Private Placement Shelf Facilities With Two Insurance Companies

Research Away

 

JNJ Johnson & Johnson downgraded to equal-weight from overweight at Morgan Stanley

Macro/Technicals

XLV: 29.86; -.77; -2.6%

Disclaimer: Prepared by staff of Cantor Fitzgerald & Co. ("Cantor") and is for information purposes only. It is not intended to form the basis of any investment decision, should not be considered a recommendation by Cantor or any other person and does not constitute an offer or solicitation with respect to the purchase or sale of any investment nor is it a confirmation of terms. Any calculations and valuations presented herein are intended as a basis for discussion. Sources of information are believed to be reliable but Cantor makes no representation and gives no warranty that the information contained herein is accurate or complete. Any opinions or estimates given may change. Cantor undertakes no obligation to provide recipients with any additional information or any update to or correction of the information contained herein. This material is intended solely for institutional investors and investors who Cantor reasonably believes are institutional investors. Cantor, its officers, employees, affiliates and partners shall not be liable to any person in any way whatsoever for any losses, costs or claims howsoever arising from any inaccuracies or omissions in the information contained herein or any reliance on that information. Cantor may have positions in financial instruments mentioned, may have acquired such positions at prices no longer available, and may have interests different or adverse to your interests. No liability is accepted by Cantor for any loss that may arise from any use of the information contained herein or derived here from. This product may not be reproduced or redistributed outside the recipient's organization. Sources: Cantor Fitzgerald & Co., Reuters, Bloomberg, CNBC, Dow Jones, Marketwatch, Trade-Alert, and the Wall Street Journal. ***All eco data from Bloomberg and DJ