Disney could snap its best winning streak in five years, but some say the rally could continue

Disney��s magical rally is under threat Friday as its stock moves lower for the first time in ten sessions. Some still see further upside from here.

The charts look bullish to Craig Johnson, chief market technician at Piper Jaffray.

��Look at a weekly chart. You��re making what we define as a nice ascending triangle, which is a continuation pattern, and usually these kinds of patterns resolve themselves in the direction of the preceding trend,�� Johnson explained on CNBC��s ��Trading Nation�� on Thursday.

An ascending triangle pattern, a common bullish signal among technical analysts, is formed by linking two trend lines �� the first measures a level of resistance and the second a series of higher lows.

��In Disney��s case I would expect the stock to continue to proceed higher, and I can actually see, based on the size of the setup, I move into about $140, $145-ish-type range. So still meaningful upside from these levels,�� said Johnson.

A move up to $140 represents a massive 25 percent increase from current levels.

The options market is also suggesting a bullish bias among investors, according to Stacey Gilbert, market strategist at Susquehanna.

��We��re also seeing activity where investors are buying upside calls across Disney options, and it��s not just one maturity. It��s several of them,�� Gilbert said on Thursday��s ��Trading Nation.�� ��The focus tends to be around that $120 strike.��

However, the expensive cost of options is above average, adds Gilbert, meaning there might still be some volatility expected in the stock.

��We look at spreading out the options given the volatility levels where they are,�� suggests Gilbert. ��So maybe buying one call and selling a higher call strike to get that upside exposure but reduce some of that volatility risk.��

Disney ended Thursday's session with its ninth straight day of gains, a streak not seen since September 2013.

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Badger Meter Sales Firm Up in the Second Quarter

Water flow measurement device manufacturer Badger Meter, Inc. (NYSE:BMI) revealed its second-quarter 2018 earnings on Wednesday, and the company relayed credible top-line progress. The Milwaukee, Wisconsin-based organization also booked a healthy advance in earnings per share -- after adjusting for a significant charge taken during the quarter.�

Badger Meter results: The raw numbers Metric Q2 2018 Q2 2017 Year-Over-Year Change

Revenue	$113.6 million	$104.2 million	9%
Net income	$6.2 million	$10.6 million	(41.5%)
Diluted EPS	$0.21	$0.36	(41.6%)

Data source: Badger Meter, Inc.��

What happened with Badger Meter this quarter?

Badger Meter followed up a slightly disappointing sales result in its last reporting period�with record revenue in the second quarter, nearly hitting double-digit growth against the second quarter of 2017.

Management attributed the top-line strength to brisk domestic sales of its core flow measurement products for municipalities. The organization also benefited from a bump in international sales, which were concentrated in the Middle East.

Within product lines, the company singled out fast growth in its E-Series Ultrasonic water meters. The E-Series Ultrasonic is a "smart water meter" aimed at the residential and light commercial markets. The device provides water flow measurement data via an LCD display attached to its metering component.

Badger Meter also reported attractive demand for its Orion Cellular LTE Endpoint, another smart water meter reading system, which uploads data to an online dashboard at predetermined, fixed intervals.

From an industry perspective, management noted that domestic sales of flow measurement products picked up in the water, wastewater, petrochemical, and oil and gas markets during the second quarter.

Operating margin dipped nearly 2 percentage points against the prior-year quarter, to 14.3%. Higher brass costs and a tilt in the selling mix toward international water meter sales (which carry a lower margin than domestic meters) both impacted gross profit. Higher healthcare costs, selling expenses, and research and development expenses weighed on the selling, general, and administrative expense category.

Though the decrease in operating margin was slight, net income dropped by double digits as the company took a charge of $8 million as part of a multi-quarter initiative to terminate its pension plan. This earnings drag was reduced by a $4 million benefit in the form of a lower provision for income taxes against the prior-year quarter, due to last year's U.S. tax legislation.

Adjusting for an impact of $0.21 per share due to the pension-termination charges, comparable diluted earnings per share of $0.42 marked an increase of 17% against Q2 2017. Management stated that all pension settlement charges would be complete by the end of next quarter.

Image source: Getty Images.

What management had to say

As discussed above, Badger Meter is extending beyond traditional flow components into fast-growing smart water meter opportunities, and increasingly, its strategy calls for partnering with a wide range of companies to promote the technology behind its next-generation products. Badger Meter CEO Kenneth Bockhorst outlined a few of these ventures in the company's earnings press release:

Our opportunities for 2019 and beyond include Phyn, a joint venture between Belkin International, Inc. and Uponor Corporation, which utilizes our D-Flow ultrasonic technology in a smart water monitoring system for residential use. Our ORION Cellular products will be ready with LTE-M chips in the first quarter of 2019. These are the next generation chips for business-to-business cellular communications, allowing us to provide additional features for our customers while also improving our cost position. And our inclusion in AT&T's�Smart City Alliance will allow us to explore new ways our smart water solutions can join forces with their industry-leading cellular networks to help water utilities better benefit from smart water metering solutions. ... We believe the ongoing acceptance of our products, continued operational efficiencies and an unrelenting eye on innovation bodes well for our future.

Looking forward

Badger Meter doesn't provide forward earnings guidance. However, as sales volumes have firmed up, the company may well continue to exhibit top-line momentum in the second half of the year. In the earnings release, CEO Bockhorst observed that management was confident about the remaining two quarters of 2018, citing "continued interest in [the company's] flagship products" as well as a growing order backlog. In addition, Bockhorst noted that copper prices have recently started to moderate.�As I've previously explained, Badger Meter uses brass, derived from copper, across most of its manufactured meter products. In recent quarters, copper price increases have sometimes hit the double digits, so any easing on this front will provide a welcome earnings tailwind.

Stocks making the biggest moves premarket: MS, GOOGL, TXN, UAL, NFLX & more

Check out the companies making headlines before the bell:

Morgan Stanley �� Morgan Stanley reported second quarter profit of $1.30 per share, beating the consensus estimate of $1.11 a share. Revenue beat forecasts, as Morgan Stanley reported strong investment banking and wealth-management results. Morgan Stanley also raised its quarterly dividend to 30 cents per share from 25 cents a share.

Alphabet �� Alphabet��s Google unit was hit with a record $5 billion European Union fine, following an EU investigation of whether Google had abused the dominance of its Android mobile operating system. Google said it would appeal the fine.

Texas Instruments �� CEO Brian Crutcher resigned after less than two months, after the chip maker said he violated the company��s code of conduct. Texas Instruments did not specify what the violations were, other than to say they were not related to operations. Chairman Rich Templeton will return to the CEO rule on an ��ongoing, indefinite basis��.

United Continental �� United reported adjusted quarterly profit of $3.23 per share, 16 cents a share above consensus estimates. The airline��s revenue exceeded forecasts, and it also raised its full-year profit forecast as its efforts to gain market share take hold.

Netflix �� Shares of the video streaming service remain on watch today, after a volatile session Tuesday following disappointing membership numbers. The stock, which had closed near the $400 prior to the release of its quarterly earnings report, dipped as low as $344 before recovering to finish trading at $379.48.

CSX �� CSX beat estimates by 14 cents a share, with quarterly profit of $1.01 per share. The railroad operator��s revenue beat estimates, as well. CSX��s results were helped by cost-cutting as well as higher prices for transporting freight.

McDonald��s �� A National Labor Relations Board Administrative judge rejected a proposed settlement by the restaurant chain, in a case centered around the company��s liability when alleged labor law violations are committed by franchisees. The settlement would have helped avoid such liability.

Ericsson �� Ericsson reported an unexpected profit for its latest quarter, with the Swedish telecom equipment maker saying it was helped by stronger sales in North America.

Berkshire Hathaway �� Berkshire eliminated its own restrictions on buying back the company��s stock. A new policy allows buybacks to be authorized when Berkshire��s Warren Buffett and Charlie Munger feel the repurchase price is below Berkshire��s intrinsic value.

Amazon.com �� Amazon generated about $2 billion in revenue from its fourth annual Prime Day, according to RBC analyst Mark Mahaney.

Clorox �� Goldman Sachs downgraded the household products maker to ��sell�� from ��neutral��, based on expectations of lower sales volume as well as smaller profit margins.

Crude Oil's Relentless Price Climb

&l;p&g;&l;img class=&q;dam-image getty size-large wp-image-170501340&q; src=&q;https://specials-images.forbesimg.com/dam/imageserve/170501340/960x0.jpg?fit=scale&q; data-height=&q;633&q; data-width=&q;960&q;&g; Photo by MyLoupe/UIG via Getty Images

When taking a glance at the performance of investments in stocks, currencies, and commodities -- which is compiled by the &l;em&g;Wall Street Journal&l;/em&g; for the second quarter of 2018 -- one is struck by the fact that all of the top five performers were commodities. Lean hogs took the top honors, followed by crude oil.

Crude&a;rsquo;s position didn&a;rsquo;t surprise me. Way back in February 2016 -- when West Texas Intermediate (WTI) was trading at $26/bbl. -- I was confident that crude oil would make a relentless climb. How could I have been so confident then, and confident now, that today&a;rsquo;s WTI price of $69.50/bbl. will climb to $75/bbl. by year&a;rsquo;s end?

To answer these questions, we must have a model -- a way of thinking about the problem. In this case, the starting point is Roy W. Jastram&a;rsquo;s classic study,&a;nbsp;&l;a href=&q;https://www.amazon.com/Golden-Constant-American-Experience-1560-2007/dp/1847202616&q; target=&q;_blank&q;&g;&l;em&g;The Golden Constant: The English and American Experience 1560-2007&l;/em&g;&l;/a&g;. In that work, Jastram finds that gold maintains its purchasing power over long periods of time, with the prices of other commodities adapting to the price of gold.

Taking the broad lead from Jastram, I developed a model that employs the price of gold as a long-term benchmark for the price of oil. So, if the price of oil changes dramatically, the ratio of the oil price to the price of gold (the oil-gold price ratio) will change and move away from its long-term value. Forces will then be set in motion to move supply and demand, so that the price of oil changes and the long-term oil-gold price ratio is re-established. This represents nothing more than a reversion to the mean. And the mean value for the oil-gold ratio, which is calculated by dividing the price of a barrel of oil by the price of an ounce of gold.

In support of this model, it is worth pointing out that a free-market economic system is an organism, and operates as such. Each organism is organized to maintain a certain &a;ldquo;state&a;rdquo; of homeostatis, to borrow a term from physiology. Any disturbance from the equilibrium sets in motion behavior within the organism which tends to re-establish the desired state of equilibrium. For example, the human body has a complex physiochemical equilibrium, which involves, among other things, a constant body temperature. If the equilibrium is disturbed, the body acts to restore the homeostatis or equilibrium.

There is a homeostatis in the structure of commodity prices, too. Any disturbance in this structure, which is anchored with the price of gold, sets in motion forces which will restore the status quo. So, the homeostasis of the commodity price system explains why the oil-gold price ratio reverts back to its mean of 0.0704 when the ratio has been disturbed.

The easiest, and best, way to determine whether a disturbance has occurred in the oil-gold price ratio is to construct a histogram of the ratios. The histogram below shows that when the oil price collapsed to $26/bbl. in February 2016, the oil-gold price ratio plunged, too. Indeed, it moved to 0.021, which is way to the left of the distribution of the oil-gold price ratios on the histogram. With that extreme reading of the ratio, we knew that forces would kick in to restore the homeostatis of the commodity price structure. In short, the oil-gold price ratio would start reverting to its mean, with most of the work being done by price increases in oil.

&l;img class=&q;size-full wp-image-330&q; src=&q;http://blogs-images.forbes.com/stevehanke/files/2017/07/Histogram-of-Oil-Gold-Ratios.jpg?width=960&q; alt=&q;&q; data-height=&q;788&q; data-width=&q;844&q;&g;

Just what forces kicked in to start crude&a;rsquo;s relentless price climb and force the oil-gold price ratio to revert back to its mean? Well, at bargain basement prices, the quantity of crude demanded increased. And, on the supply side, the major oil companies slashed capital expenditures for drilling and exploration. The majors reined in their capital spending appetites by 40-50%. Indeed, now few mega projects are on the drawing boards. Not surprisingly, oil and gas field discoveries are at &l;a href=&q;https://www.ft.com/content/ed432e26-8290-11e8-96dd-fa565ec55929&q; target=&q;_blank&q;&g;a 60-year low&l;/a&g;. So, the disturbance of the homeostatis set in motion supply-demand forces to restore the status quo.

To understand the adjustment, consider my old Professor Ken Boulding&a;rsquo;s &l;a href=&q;https://www.amazon.com/economics-peace-Kenneth-Ewart-Boulding/dp/B0007DL4UU&q; target=&q;_blank&q;&g;Bathtub Theorem&l;/a&g;: If production (the flow from the faucet) is less than consumption (the flow down the drain), it is clear that the oil in inventory (the economic bathtub) must fall. That&a;rsquo;s just what&a;rsquo;s been going on as the oil-gold price ratio re-establishes itself and reverts towards its homeostatis.

But, how long will it take for the ratio to mean revert? My calculations (based on post-1972 data) are that a 50 percent reversion of the ratio will occur in 12.3 months. This translates into a price per barrel of WTI of $75 by January 2019. It is worth noting that, like Jastram, I find that oil prices have reverted to the long-run price of gold, rather than the price of gold reverting to that of oil. So, the oil-gold price ratio primarily reverts to its mean via changes in the price of oil.

At present, the oil-gold price ratio is 0.05581 ($69.59/$1247=0.05581), suggesting that oil&a;rsquo;s relentless bull market has a ways to run, as the chart below shows.

&l;img class=&q;size-large wp-image-909&q; src=&q;http://blogs-images.forbes.com/stevehanke/files/2018/07/Crude-1200x749.jpg?width=960&q; alt=&q;&q; data-height=&q;749&q; data-width=&q;1200&q;&g;&l;/p&g;

Q2 2018 EPS Estimates for Detour Gold Co. (DGC) Lowered by Analyst

Detour Gold Co. (TSE:DGC) – Stock analysts at Desjardins reduced their Q2 2018 earnings estimates for shares of Detour Gold in a research note issued on Tuesday, July 10th. Desjardins analyst J. Wolfson now expects that the mining company will earn $0.16 per share for the quarter, down from their prior estimate of $0.17. Desjardins also issued estimates for Detour Gold’s Q3 2018 earnings at $0.16 EPS, Q4 2018 earnings at $0.17 EPS, FY2018 earnings at $0.69 EPS, Q1 2019 earnings at $0.09 EPS and Q2 2019 earnings at $0.09 EPS.

Get Detour Gold alerts:

Detour Gold (TSE:DGC) last announced its quarterly earnings results on Thursday, April 26th. The mining company reported C$0.20 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of C$0.20. The company had revenue of C$254.60 million during the quarter. Detour Gold had a net margin of 25.07% and a return on equity of 8.60%.

Several other equities research analysts also recently weighed in on DGC. Royal Bank of Canada raised shares of Detour Gold from a “sector perform” rating to an “outperform” rating and set a C$20.00 price target for the company in a research report on Tuesday, March 27th. Canaccord Genuity raised their price target on shares of Detour Gold from C$23.50 to C$24.00 in a research report on Monday, April 23rd. CSFB downgraded shares of Detour Gold from an “outperform” rating to a “neutral” rating and reduced their price target for the company from C$16.00 to C$15.50 in a research report on Friday, April 27th. TD Securities reduced their price target on shares of Detour Gold from C$23.00 to C$20.00 and set a “buy” rating for the company in a research report on Friday, April 27th. Finally, BMO Capital Markets reduced their price target on shares of Detour Gold from C$26.00 to C$15.00 in a research report on Monday, April 30th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of C$16.57.

Shares of DGC opened at C$12.45 on Thursday. Detour Gold has a twelve month low of C$9.11 and a twelve month high of C$17.86.

About Detour Gold

Detour Gold Corporation, an intermediate gold mining company, engages in the acquisition, exploration, development, and operation of metal mineral properties in Canada. The company's primary asset is the Detour Lake property consisting of a contiguous group of mining leases and claims totaling 625 square kilometers located in the District of Cochrane.

China Won't Stop Starbucks' Decline

&l;p&g;&l;img class=&q;dam-image getty size-large wp-image-954133280&q; src=&q;https://specials-images.forbesimg.com/dam/imageserve/954133280/960x0.jpg?fit=scale&q; data-height=&q;639&q; data-width=&q;960&q;&g; (Photo by Zhang Peng/LightRocket via Getty Images)

China won&a;rsquo;t save Starbucks from its decline on Wall Street. As the company makes its transition from a momentum play to a value play, its stock has nowhere to go but down.

Starbucks has a serious problem in the US: market saturation. Its stores are on almost every neighborhood corner. And they&a;rsquo;re beginning to cannibalize the sales of each other.

That&a;rsquo;s why the company has been closing stores in some neighborhoods.

&l;/p&g;&l;div class=&q;table-wrapper&q;&g;&l;table&g;&l;tbody&g;&l;tr&g;&l;td width=&q;277&q;&g;&l;span&g;Company/Index&l;/span&g;&l;/td&g;

&l;td width=&q;277&q;&g;&l;span&g;3-month performance&l;/span&g;&l;/td&g;

&l;td width=&q;277&q;&g;&l;span&g;5-year performance&l;/span&g;&l;/td&g;

&l;/tr&g;&l;tr&g;&l;td width=&q;277&q;&g;&l;span&g;Starbucks&l;/span&g;&l;/td&g;

&l;td width=&q;277&q;&g;&l;span&g;-17.88%&l;/span&g;&l;/td&g;

&l;td width=&q;277&q;&g;&l;span&g;39.47%&l;/span&g;&l;/td&g;

&l;/tr&g;&l;tr&g;&l;td width=&q;277&q;&g;&l;span&g;Dunkin Brands&l;/span&g;&l;/td&g;

&l;td width=&q;277&q;&g;&l;span&g;14.69&l;/span&g;&l;/td&g;

&l;td width=&q;277&q;&g;&l;span&g;55.11&l;/span&g;&l;/td&g;

&l;/tr&g;&l;tr&g;&l;td width=&q;277&q;&g;&l;span&g;S&a;amp;P 500&l;/span&g;&l;/td&g;

&l;td width=&q;277&q;&g;&l;span&g;2.77&l;/span&g;&l;/td&g;

&l;td width=&q;277&q;&g;&l;span&g;61.24&l;/span&g;&l;/td&g;

&l;/tr&g;&l;/tbody&g;&l;/table&g;&l;/div&g;

Source: Finance.yahoo.com 7/5/2018

Still, there is China Starbucks, bulls say.

&a;ldquo;Longer-term, SBUX is becoming a mature cash-generating company in the U.S. market with a high-margin licensing revenue stream from licensing partnerships all around the world and a huge high-return growth opportunity in China,&a;rdquo; says equity analyst John Zolidis.&a;nbsp; &a;ldquo;There&s;s a lot left from this story if you&s;re willing to look past near-term comp headwinds, in our opinion.&a;rdquo;

But with close to 1600 outlets already opened in China, there&a;rsquo;s very little room to grow there, beyond the country&a;rsquo;s &a;ldquo;highly globalized&a;rdquo; market segment.

With over 1.3 billion people and rising incomes, China has been a &l;span&g;&a;nbsp;&l;/span&g;mouth-watering target for Starbucks. But winning the minds and the wallets of Chinese consumers isn&a;rsquo;t easy. China is a diverse rather than a homogeneous consumer market, which consists of three segments:

--The highly globalized segment, in which Chinese consumers display similar preferences and tastes with consumers in highly developed countries. This segment extends over three eastern regions: The Pearl River Delta, which includes Hong Kong, Guangzhou and Shenzhen; the Yangtze River Delta, which includes Shanghai and nearby cities; and the Beijing-Tianjin region.

&l;!--nextpage--&g;

--The highly localized segment, in which consumers maintain their local preferences and tastes. This segment may be found in the most remote rural areas of central and western China.

--The semiglobal market segment, in which consumers display a mix of global and local preferences. This segment is a collection of &a;ldquo;mega-cities&a;rdquo; like Fuzhou, Zibo, Quingdao, Hantou, Dilian, and Huizhou.

So far, Starbucks has expanded into the easy target, the highly globalized segment, which requires little localization of the products sold in its home market.

But it will be extremely difficult to reach the other two segments, without substantial changes to its business model that will undermine the company&a;rsquo;s scalability and profitability.

Best Biotech Stocks To Own Right Now

tags:ARQL,AMGN,BIIB,ALNY, What happened

Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) were trading 14% higher as of 11 a.m. EDT on Friday. The nice jump for the biotech stock came after Galapagos N.V. (NASDAQ:GLPG) announced disappointing results�Thursday evening from a phase 2 clinical study evaluating�C2 corrector GLPG2737 in treating cystic fibrosis (CF).

Galapagos' CF drug met its primary endpoint of a statistically significant change from baseline in sweat chloride concentration compared to a placebo at day 28. However, the drug didn't improve lung function by a statistically significant level.

Image source: Getty Images.

So what

Galapagos' disappointment could mean that Vertex will maintain a virtual monopoly in treating cystic fibrosis.�Vertex currently has three approved drugs that improve lung function in CF patients by modulating or correcting dysfunctional CFTR genes. The biotech is evaluating new triple-drug combination therapies that hold even greater promise in helping CF patients.

Best Biotech Stocks To Own Right Now: ArQule Inc.(ARQL)

Advisors' Opinion:

• [By Joseph Griffin]

  ArQule (NASDAQ:ARQL)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They currently have a $6.00 price target on the biotechnology company’s stock, up from their prior price target of $5.00. Needham & Company LLC’s price target suggests a potential upside of 134.38% from the company’s previous close.

• [By Joseph Griffin]

  ValuEngine upgraded shares of ArQule (NASDAQ:ARQL) from a buy rating to a strong-buy rating in a research report released on Tuesday.

  Several other equities analysts have also issued reports on ARQL. Zacks Investment Research upgraded ArQule from a hold rating to a buy rating and set a $2.50 price objective for the company in a research report on Tuesday, March 20th. BidaskClub upgraded ArQule from a buy rating to a strong-buy rating in a research report on Saturday, March 24th. B. Riley set a $4.00 price objective on ArQule and gave the company a buy rating in a research report on Monday, March 26th. Leerink Swann upgraded ArQule from a market perform rating to an outperform rating in a research report on Thursday, April 5th. Finally, Roth Capital boosted their price objective on ArQule from $5.00 to $6.00 and gave the company a buy rating in a research report on Tuesday, April 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $5.35.

• [By Joseph Griffin]

  Shares of ArQule, Inc. (NASDAQ:ARQL) were down 5.4% during trading on Wednesday . The company traded as low as $4.71 and last traded at $4.73. Approximately 3,358,864 shares traded hands during trading, an increase of 289% from the average daily volume of 863,008 shares. The stock had previously closed at $5.00.

• [By Lisa Levin] Gainers Melinta Therapeutics, Inc. (NASDAQ: MLNT) shares surged 20.6 percent to $6.39. WBB Securities upgraded Melinta Therapeutics from Hold to Speculative Buy. Shoe Carnival, Inc. (NASDAQ: SCVL) shares climbed 17.2 percent to $30.87 after the company reported upbeat quarterly earnings. Acorn International, Inc. (NYSE: ATV) shares rose 15.2 percent to $28.804 after the company declared a special one-time cash dividend of $14.97 per ADS. Foot Locker, Inc. (NYSE: FL) gained 15 percent to $53.35 after the company reported better-than-expected results for its first quarter. Sears Hometown and Outlet Stores, Inc. (NASDAQ: SHOS) surged 14.2 percent to $2.625. ArQule, Inc. (NASDAQ: ARQL) rose 13 percent to $5.12 after gaining 4.86 percent on Thursday. Quality Systems, Inc. (NASDAQ: QSII) gained 12.8 percent to $16.97 after the company posted better-than-expected FQ4 results. Loma Negra Compañía Industrial Argentina Sociedad Anónima (NYSE: LOMA) shares rose 12 percent to $12.94. ArQule, Inc. (NASDAQ: ARQL) shares rose 12 percent to $5.07. Mirati Therapeutics, Inc. (NASDAQ: MRTX) climbed 11.4 percent to $43.50. Zai Lab Limited (NASDAQ: ZLAB) gained 11.3 percent to $24.7000. Zymeworks Inc. (NASDAQ: ZYME) rose 9.7 percent to $19.64. Park City Group, Inc. (NASDAQ: PCYG) climbed 9 percent to $7.90. Roku, Inc. (NASDAQ: ROKU) gained 7.9 percent to $38.82 after Citron reversed previously bearish position on the stock. Sears Holdings Corporation (NASDAQ: SHLD) shares jumped 7.3 percent to $3.55. Deckers Outdoor Corp (NYSE: DECK) rose 3.5 percent to $107.27 after reporting better-than-expected results for its fiscal fourth quarter.

  Check out these big penny stock gainers and losers

• [By Maxx Chatsko]

  Shares of development-stage biopharma ArQule (NASDAQ:ARQL) rose nearly 17% today after the company announced two appointments to its management team in two newly created positions. Dr. Marc Schegerin will serve as senior vice president, corporate strategy, communication, and finance. Dr. Shirish Hirani will serve as senior vice president, program management and product planning.�

• [By Ethan Ryder]

  ArQule, Inc. (NASDAQ:ARQL) insider Value Fund L. P. Biotechnology sold 1,035,939 shares of the business’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $5.00, for a total value of $5,179,695.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Best Biotech Stocks To Own Right Now: Amgen Inc.(AMGN)

Advisors' Opinion:

• [By ]

  Celgene (CELG) : "I'd rather buy Amgen (AMGN) or Regeneron Pharmaceuticals (REGN) . I think Celgene overpaid for that acquisition a few years ago."

• [By Ethan Ryder]

  Wayne Hummer Investments L.L.C. trimmed its position in shares of Amgen (NASDAQ:AMGN) by 11.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,311 shares of the medical research company’s stock after selling 303 shares during the period. Wayne Hummer Investments L.L.C.’s holdings in Amgen were worth $394,000 at the end of the most recent quarter.

• [By Chris Lange]

  Amgen Inc. (NASDAQ: AMGN) shares made a slight gain on Tuesday after it was announced that the U.S. Food and Drug Administration (FDA) approved its treatment of glucocorticoid-induced osteoporosis in men and women at high risk of fracture. Specifically, the agency approved Prolia (denosumab), driven by positive late-stage results.

• [By Keith Speights]

  The big reason Humira will maintain its position at the top is the U.S. market. U.S. sales of the drug are projected to be around $12.2 billion in 2024. That's not much lower than Humira's 2017 U.S. sales of nearly $12.4 billion. Will Amgen's (NASDAQ:AMGN) biosimilar Amjevita, which will go on sale in the U.S. effective Jan. 31, 2023, really make that small of a dent in Humira's sales? Not really. The impact will be greater than the 2024 projections indicate.

• [By ]

  For example, if you buy 100 shares of the�Nasdaq�100�ETF�(NYSE: QQQ), you're theoretically buying 11.9 shares of Apple (NASDAQ: AAPL)... 7.7 shares of Facebook (NASDAQ: FB)... 1.8 shares of�Amgen�(NASDAQ: AMGN)... 2.6 shares of Comcast (NASDAQ: CMCSA)... and even smaller amounts of about 95 different companies.

• [By Chris Lange]

  Amgen Inc. (NASDAQ: AMGN) saw its short interest fall to 9.79 million shares from the previous level of 10.46 million. Shares were last seen at $170.00, in a 52-week trading range of $152.16 to $201.23.

Best Biotech Stocks To Own Right Now: Biogen Idec Inc(BIIB)

Advisors' Opinion:

• [By Cory Renauer]

  Biotech traders get heaps of attention, but buying promising young drugmakers and holding them for the long term is a far easier way to get rich. Case in point: Spreading $10,000 evenly among shares of Biogen Inc. (NASDAQ:BIIB),�Celgene Corporation (NASDAQ:CELG), and�Gilead Sciences Inc.�(NASDAQ:GILD) around this time in 1998 would have made you a millionaire already.�

• [By Benzinga News Desk]

  A distillery in a small Spanish town has claimed it invented the original Coca-Cola (NYSE: KO) recipe and now wants recognition: Link

  ECONOMIC DATA Initial Jobless Claims For Week Ended May 25 221K vs 225K Economist Estimate, Down From 234K In Prior Week Personal Income Apr. Up 0.3%, Personal Spending Up 0.6% The Chicago PMI for May is schedule for release at 9:45 a.m. ET. The pending home sales index for April will be released at 10:00 a.m. ET. The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET. The Energy Information Administration’s weekly report on petroleum inventories will be released at 11:00 a.m. ET. Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 12:30 p.m. ET. Fed Governor Lael Brainard will speak at 1:00 p.m. ET. Data on money supply for the recent week will be released at 4:30 p.m. ET. Federal Reserve Bank of Dallas President Robert Kaplan is set to speak at 8:30 p.m. ET. ANALYST RATINGS Canaccord upgrades Biogen (NASDAQ: BIIB) from Hold to Buy Morgan Stanley upgrades Corning (NYSE: GLW) from Equal-Weight to Overweight Morgan Stanley downgrades Micron (NASDAQ: MU) from Overweight to Equal-Weight Cantor downgrades HealthEquity (NASDAQ: HQY) from Overweight to Neutral

  This is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here.

• [By Keith Speights]

  Three biotech stocks that achieved this feat this week are�Nightstar Therapeutics (NASDAQ:NITE),�Arbutus Biopharma (NASDAQ:ABUS), and�Biogen (NASDAQ:BIIB). What caused these stocks to soar, and are they smart picks to buy now? Here's what you need to know.

• [By Dan Caplinger]

  Wall Street continued its downward streak on Monday, with the Dow Jones Industrial Average falling more than 100 points. Most major benchmarks fell more modestly, with a few actually poking into positive territory on the day. Trade-sensitive stocks were among the weakest as investors focused on uncertainty related to tariff disputes between the U.S. and China. But for some other companies, bad news of a different sort was responsible for the drops in their shares. Biogen (NASDAQ:BIIB), Baytex Energy (NYSE:BTE), and Catalyst Biosciences (NASDAQ:CBIO) were among the worst performers on the day. Here's why they did so poorly.

• [By Keith Speights]

  Shares of Biogen Inc. (NASDAQ:BIIB) were up 15.2% as of 11:35 a.m. EDT on Friday after the biotech, along with partner Eisai, reported encouraging results from a phase 2 clinical study of BAN2401 in treating Alzheimer's disease. Patients taking BAN2401 achieved statistically significant�improvement compared to patients on placebo after 18 months in�slowing progression of Alzheimer's disease and in the reduction�of�amyloid�accumulations in�the brain.

Best Biotech Stocks To Own Right Now: Alnylam Pharmaceuticals Inc.(ALNY)

Advisors' Opinion:

• [By Joseph Griffin]

  BidaskClub lowered shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a strong-buy rating to a buy rating in a research report released on Monday.

• [By Max Byerly]

  Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, May 3rd. The biopharmaceutical company reported ($1.41) EPS for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.06. The business had revenue of $21.90 million during the quarter, compared to analysts’ expectations of $35.23 million. Alnylam Pharmaceuticals had a negative return on equity of 36.81% and a negative net margin of 565.20%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.25) earnings per share. equities analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -6.7 earnings per share for the current fiscal year.

• [By Sean Williams, Chuck Saletta, and Brian Feroldi]

  So, which biotech stocks should you consider buying in June? That's a question we posed to three of our healthcare-focused investors. Interestingly enough, mid-cap biotech stocks are the clear flavor of the month. If biotech is on your radar in June, our investors suggest you consider Ionis Pharmaceuticals (NASDAQ:IONS), Spark Therapeutics (NASDAQ:ONCE), and Alnylam Pharmaceuticals (NASDAQ:ALNY).

Oil and Gas Still Dominate This Energy Giant's Portfolio, but for How Long?

Total S.A. (NYSE:TOT) is a huge integrated oil and gas company, but it's looking to become something more. That's the big storyline right now at this French energy giant. But what exactly does that mean for investors? Here's an update of what's changing at the company and how it might play out.

Oil and gas rule the day

In the first quarter of 2018, exploration and production (the company's upstream energy operations) accounted for roughly 65% of Total's revenue. Its downstream chemicals and refining business pitched in roughly 20%, and marketing operations added another 10%. The tiny sliver that was left (less than 5%) came from the company's gas, renewables, and power division.

Total is building its business for the future, one piece at a time. Image source: Getty Images.

The oil business is clearly king at Total. But there's an interesting thing going on here, because the fourth division of the business -- gas, renewables, and power -- didn't even exist until late 2016. When the company announced the new division, it explained that the goal was to grow it to between 15% and 20% of revenue by 2035. Is that feasible?� �

The shifting gears

The first big move in this division actually predates its creation, when Total bought a controlling stake in solar power specialist SunPower�in 2011. The second came this year, when Total announced plans to buy utility Direct Energie, which operates electric and gas utilities in France and Belgium, for roughly $1.6 billion.

This single investment will increase Total's electricity production by 50% and its customer base in the gas, renewables, and power division by 75%. In addition, the company intends to double its growth in the division, upping its 5 gigawatts target for electric capacity in five years to 10 gigawatts.�

When Total announced the acquisitions, CEO Patrick Pouyanne explained, "This friendly takeover is part of the Group's strategy to expand along the entire gas-electricity value chain and to develop low-carbon energies, in line with our ambition to become the responsible energy major." This suggests that oil and natural gas will play an important role for many years to come, but also that Total is hedging its bets for a very different future.��

Preparing for change

But why? The answer lies in the forecasts provided by the International Energy Agency (IEA), a global industry group. The group projects energy demand to grow by 30% by 2040,�with renewable power receiving two-thirds of all money earmarked for new power plants through that date. Coal is going to see the greatest loss of share, which makes sense since it's a particularly dirty fuel source.

However, the problem for Total is that oil demand growth is projected to moderate. Growth on the natural gas side will offset some of the share loss, but taken together, oil and natural gas are expected to be flat to lower. Even though total energy demand growth will probably limit the pain, the core of Total's business is still set to see demand headwinds. The IEA sums it up pretty well, explaining in its preview to the World Energy Outlook 2018 that "The future is electrifying, with low-carbon technologies on the rise and electricity demand set to grow at twice the pace of energy demand as a whole." That makes Total's decision to create and expand its gas, renewables, and power division look like a good strategic decision.

The interesting thing here is that Total is planning to spend as much as $15 billion a year on capital investments over the next couple of years. That's largely going to go toward its upstream business today, but the Direct Energie acquisition shows it is also spending on the gas, renewables, and power division. But step back and put the spending into perspective.

Total has an enterprise value of around $180 billion. Divide that by capital spending of $15 billion, using the current annual projection as a run rate, and you get the number 12. In 12 years, Total could theoretically invest enough to completely remake the company.�So the company's newest division is relatively small today, but it's growing. And, perhaps more important, as Total gathers more experience with this new business, it can easily shift more of its capital spending toward the electric future the IEA is projecting.

A nice balance

Total's business is still about oil and natural gas. And these businesses, and their downstream cousins, refining and chemicals, will remain the core for quite some time. But Total is clearly looking to the future as it builds its gas, renewables, and power division. Assuming the future is, indeed, more electric than the past, Total is laying the foundation for a different corporate future.

There are risks in entering a new business, of course, but Total appears to be moving deliberately as it changes along with the world around it. The company has been executing well on the oil and gas side lately, but make sure to keep an eye on its electric progress as you read through earnings releases. Although the gas, renewables, and power division is really just a footnote today, that could change sooner than you might think.

Zacks: Brokerages Anticipate CARBO Ceramics Inc. (CRR) Will Post Earnings of -$0.53 Per Share

Brokerages forecast that CARBO Ceramics Inc. (NYSE:CRR) will announce ($0.53) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for CARBO Ceramics’ earnings, with estimates ranging from ($0.57) to ($0.50). CARBO Ceramics reported earnings of ($0.93) per share in the same quarter last year, which suggests a positive year over year growth rate of 43%. The firm is scheduled to announce its next earnings report on Thursday, July 26th.

On average, analysts expect that CARBO Ceramics will report full year earnings of ($1.84) per share for the current financial year, with EPS estimates ranging from ($1.94) to ($1.78). For the next year, analysts expect that the business will report earnings of ($0.21) per share, with EPS estimates ranging from ($0.51) to $0.11. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for CARBO Ceramics.

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CARBO Ceramics (NYSE:CRR) last released its quarterly earnings results on Thursday, April 26th. The oil and gas company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.14). CARBO Ceramics had a negative return on equity of 20.33% and a negative net margin of 57.60%. The firm had revenue of $49.37 million for the quarter, compared to analysts’ expectations of $57.44 million. During the same period in the prior year, the firm posted ($1.22) earnings per share. CARBO Ceramics’s revenue for the quarter was up 42.3% on a year-over-year basis.

CRR has been the subject of a number of recent analyst reports. Cowen set a $8.00 price target on shares of CARBO Ceramics and gave the stock a “hold” rating in a research note on Thursday, March 15th. ValuEngine raised shares of CARBO Ceramics from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Piper Jaffray Companies set a $7.00 price target on shares of CARBO Ceramics and gave the stock a “hold” rating in a research note on Monday, April 2nd. Five analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average price target of $8.81.

In related news, insider Gary A. Kolstad acquired 3,000 shares of the stock in a transaction on Thursday, May 3rd. The stock was bought at an average cost of $8.89 per share, with a total value of $26,670.00. Following the transaction, the insider now directly owns 378,651 shares in the company, valued at $3,366,207.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary A. Kolstad acquired 10,000 shares of the stock in a transaction on Tuesday, May 1st. The stock was bought at an average cost of $8.49 per share, with a total value of $84,900.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 20,000 shares of company stock valued at $180,870. 15.10% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of CARBO Ceramics by 0.8% in the 1st quarter. BlackRock Inc. now owns 2,832,431 shares of the oil and gas company’s stock valued at $20,534,000 after purchasing an additional 21,926 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of CARBO Ceramics by 35.0% in the 1st quarter. Wells Fargo & Company MN now owns 995,235 shares of the oil and gas company’s stock valued at $7,215,000 after purchasing an additional 257,779 shares in the last quarter. Old West Investment Management LLC raised its holdings in shares of CARBO Ceramics by 169.4% in the 1st quarter. Old West Investment Management LLC now owns 994,879 shares of the oil and gas company’s stock valued at $7,212,000 after purchasing an additional 625,634 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of CARBO Ceramics by 22.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 510,310 shares of the oil and gas company’s stock valued at $3,700,000 after purchasing an additional 94,994 shares in the last quarter. Finally, Fairfax Financial Holdings Ltd Can raised its holdings in shares of CARBO Ceramics by 10.0% in the 1st quarter. Fairfax Financial Holdings Ltd Can now owns 330,000 shares of the oil and gas company’s stock valued at $2,396,000 after purchasing an additional 30,000 shares in the last quarter. 72.35% of the stock is owned by institutional investors.

Shares of CARBO Ceramics traded up $0.22, reaching $9.23, during trading hours on Tuesday, MarketBeat Ratings reports. 156,500 shares of the stock were exchanged, compared to its average volume of 627,869. CARBO Ceramics has a 12-month low of $6.05 and a 12-month high of $12.69. The company has a current ratio of 4.54, a quick ratio of 2.68 and a debt-to-equity ratio of 0.23. The stock has a market cap of $248.85 million, a PE ratio of -2.44 and a beta of 1.77.

About CARBO Ceramics

CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, and industrial markets worldwide. The company operates in two segments, Oilfield Technologies and Services, and Environmental Products and Services. The Oilfield Technologies and Services segment manufactures and sells ceramic proppants for use in the hydraulic fracturing of natural gas and oil wells to pressure pumping companies; produces ceramic pellets for use in various industrial technology applications, such as casting and milling; and provides technology to design, build, and optimize the Frac.

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