Wednesday Morning Movers: AMZN, CREE, SCSS >>> READ MORE

3 Stocks to Watch on Tuesday: Priceline Group Inc (PCLN), Valeant Pharmaceuticals Intl Inc (VRX) and Workday Inc (WDAY)

VRX and WDAY tank on quarterly earnings, while PCLN gets a solid boost

    View All  

U.S. markets finished slightly higher on Monday, extending their rally as oil ticked upward. The S&P 500 Index and Dow Jones Industrial Average were 0.1% better, while the Nasdaq Composite climbed 0.3%

3 Stocks to Watch on Tuesday: Priceline Group Inc (PCLN), Valeant Pharmaceuticals Intl Inc (VRX) and Workday Inc (WDAY)Heading into Tuesday’s trade, the biggest movers are again dominated by earnings. Valeant Pharmaceuticals Intl Inc (NYSE:VRX), Priceline Group Inc (NASDAQ:PCLN) and Workday Inc (NYSE:WDAY) find themselves among today’s stocks to watch.

Here’s what you need to know heading into Tuesday:

Valeant Pharmaceuticals Intl Inc

VRX shares were off significantly in early Tuesday trade despite reporting fourth-quarter beats on the top and bottom lines.

Valeant earned $1.26 per share on an adjusted basis, easily clearing Wall Street’s bar of $1.19 per share. Revenues of $2.40 billion were enough to beat analyst estimates of $2.33 billion.

However, the company’s overall net loss expanded from $385 million ($1.12 per share) last year to $515 million ($1.47 per share) in the most recent quarter. And those revenues were off by nearly 13%. Valaent blamed higher interest expenses and wider foreign exchange losses for its deficit.

Not even an optimistic revenue forecast for full-year 2017 could help VRX. The midpoint of Valeant’s range of $8.9 billion to $9.1 billion just beat out analyst expectations for $8.96 billion.

VRX shares were off 6% in Tuesday’s premarket trade, cutting considerably into shares’ 15% year-to-date rally.

Priceline Group Inc (PCLN)

PCLN shares were getting a bump amid a positive fourth-quarter earnings report.

Priceline said it earned net income of $674 million ($13.47 per share) for Q4, far better than the year-ago period’s $504 million ($10 per share). Meanwhile, adjusted earnings of $14.21 per share were well better than the consensus estimate for $12.98 per share.

Revenues of $2.35 billion were 17% better year-over-year and got over Wall Street’s mark by about $50 million.

Next Page

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC