Information Provided By:
News For DGX From the Last 2 Days
DGX
May 25, 2018 | 16:30 EDT
Stocks on Wall Street finished a quiet day mixed. The Nasdaq posted a small gain and the S&P and Dow slid as oil prices, and energy-related stocks, underperformed following a report that OPEC and Russia may raise their production ceiling. Outside of energy and additional trade headlines, the news flow was very slow as investors began to leave early for the long Memorial Day weekend. ECONOMIC EVENTS: In the U.S., durable goods orders fell 1.7% in April, versus a forecast for them to have fallen 1.3% from the prior month. New orders for nondefense capital goods excluding aircraft rose 0.8%, topping the 0.4% rise in that figure that was expected. The University of Michigan's consumer sentiment index for May declined to 98.0 in the final reading for the month. It had been expected to hold steady at 98.8. In energy news, July West Texas Intermediate crude fell $2.83, or 4%, to settle at $67.88 a barrel following a report that OPEC and Russia are discussing a possible increase in production. COMPANY NEWS: Gap's (GPS) shares closed 14.6% lower after the company reported an earnings miss due to challenges at its namesake brand. Another retailer faring better was Foot Locker (FL), which rose 20.2% after reporting better than expected results aided by Nike (NKE) retaking market share... Shares of Herbalife Nutrition (HLF) fell 9.5% after Icahn Enterprises (IEP) disclosed that it is tendering about a quarter of the shares it currently owns to be repurchased by the company. However, Carl Icahn said he still believes the company is well-positioned for the future and noted he will remain Herbalife's largest holder. MAJOR MOVERS: Among the notable gainers was Quest Diagnostics (DGX), which gained 4.9% after the company and UnitedHealthcare (UNH) announced a long-term strategic partnership. Also higher were a number of airline operators including American Airline (AAL), Southwest (LUV) and Delta (DAL) in response to the decline in oil prices. Among the noteworthy losers following their earnings reports were Ross Stores (ROST) and Autodesk (ADSK), which fell 6.8% and 4.4%, respectively. Also lower was Fiat Chrysler (FCAU), which slid 2% after the carmaker announced it is recalling an estimated 4.8M U.S.-market vehicles to upgrade software to address a problem with their cruise-control function. INDEXES: The Dow fell 58.67, or 0.24%, to 24,753.09, the Nasdaq gained 9.42, or 0.13%, to 7,433.85, and the S&P 500 declined 6.43, or 0.24%, to 2,721.33.
DGX
May 25, 2018 | 12:18 EDT
The S&P 500 opened lower, but almost immediately began to pare its losses. Energy is by far the weakest group following a new report about higher output being planned from OPEC and Russia. There was little impact from the day's economic data as most investors seem to be looking toward the holiday weekend. The averages have moved in a narrow range on light volume and the news flow has been slow, keeping the averages little changed. ECONOMIC EVENTS: In the U.S., durable goods orders fell 1.7% in April, versus a forecast for them to have fallen 1.3% from the prior month. New orders for nondefense capital goods excluding aircraft, which may offer a clearer view of underlying investment trends, rose 0.8%, topping the 0.4% rise in that figure that was expected. The University of Michigan's consumer sentiment index for May declined to 98.0 in the final reading for the month, It had been expected to hold steady at 98.8. Front-month WTI futures have fallen over 3% and earlier in the session hit their lowest level seen since May 8 following a Reuters report that OPEC and Russia are considering easing their oil production cap by up to 1M barrels per day. COMPANY NEWS: Several retailers are moving in reaction to their earnings reports from last night and this morning. Gap's (GPS) earnings miss due to challenges at its namesake brand sent its shares down 13% while Foot Locker's (FL) better than expected results generated a 15% boost to the sneaker seller's stock... Shares of Herbalife Nutrition (HLF) fell 8% in morning trading after Icahn Enterprises (IEP) disclosed that it is tendering about a quarter of the shares it currently owns to be repurchased by the company. However, Carl Icahn, who will remain Herbalife's largest holder, said he believes "Herbalife's business is stable, the short-sellers have largely exited, and the company is well-positioned for the future." MAJOR MOVERS: Among the notable gainers was Quest Diagnostics (DGX), which gained nearly 6% after the company and UnitedHealthcare (UNH) announced a long-term strategic partnership. Also higher were a number of airline operators including American Airline (AAL), Southwest (LUV) and Delta (DAL), which traded up in response to the decline in oil prices. Among the noteworthy losers following their earnings reports were Ross Stores (ROST) and Autodesk (ADSK), which fell 7% and 5%, respectively. Also lower was Fiat Chrysler (FCAU), which slid 2% after the carmaker announced it is recalling an estimated 4.8M U.S.-market vehicles to upgrade software to address an "unlikely sequence of events" that would compromise cruise-control functionality. INDEXES: Near midday, the Dow fell 73.66, or 0.30%, to 24,738.10, the Nasdaq gained 11.73, or 0.16%, to 7,436.16, and the S&P 500 declined 4.24, or 0.16%, to 2,723.52.
DGX
May 25, 2018 | 11:21 EDT
Evercore IS analyst Vijay Kumar sees "minimal risks" to Hologic (HOLX) from Quest Diagnostics' (DGX) and LabCorp's (LH) contract renegotiations with UnitedHealth (UNH) and Aetna (AET). He estimates Quest and LabCorp together account for about $200M of revenue for Hologic. Hologic received a Supplier Excellence award last year from Quest, which points to "healthy" relationship, Kumar tells investors in a research note. He believes the labs' new contracts bake in a mid-single digit pricing cut, leading a "manageable" 3c-4c of earnings impact to Hologic. Kumar has an Outperform rating on the shares with a $40.50 price target.
DGX
May 25, 2018 | 06:16 EDT
Mizuho analyst Ann Hynes reiterates a Buy rating on Quest Diagnostics (DGX) and Neutral rating on LabCorp (LH) after UnitedHealth (UNH) announced that both companies will participate as national providers of laboratory services for the company effective January 1, 2019. LabCorp will lose its national exclusivity, but remains in-network, as UnitedHealth's national laboratory provider while Quest will be in-network for all plan participants beginning January 1, Hynes tells investors in a research note. She believes the move will enable Quest to reach the high-end of its previously provided long-term outlook range. For LabCorp, the news is disappointing but likely expected and now an overhang has been removed, Haynes contends.
Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.


TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.