Boeing’s Results Fly Over Issues, Hess’s Latest Chinese Endeavor, and 3 More Hot Stocks
Boeing Co. (NYSE:BA): Boeing has reported beats for both earnings per share and revenue, with the former clocking at $1.67, 11 cents over projections, and the latter at $21.8 billion, $1.37 billion above estimates. Higher 787 and 737 deliveries led to a 9 percent year-over-year increase in revenue as backlog grows to a record $410 billion riding on $40 billion worth of new orders. Commercial planes saw revenue increase 15 percent, operating margin up 50 basis points, and deliveries up 13 percent.
Hess Corp. (NYSE:HES): China National Petroleum has announced a partnership with Hess to develop the Malang oil-and-gas block in northwest China, making it Hess’s latest alliance in the country. No further details were provided, though the talks started last year.
Transition Therapeutics Inc. (NASDAQ:TTHI): Shares are up over 11 percent, as it has “acquired the rights to develop and commercialize a small molecule transcriptional regulator for the treatment of osteoarthritis pain from Eli Lilly (NYSE:LLY),” Seeking Alpha reports. Eli Lilly can reacquire the rights for milestone payments of $130 million upon review of a proof-of-concept study.
Radian Group (NYSE:RDN): Despite EPS of -19 cents — which messed expectations by 25 cents — shares are up slightly, as the company accrued a net loss of $33.2 million, including a net loss of about $43 million on investments and marks on derivatives contracts. New mortgage insurance business increased 60 percent year-over-year, while inventory of delinquent loans fell off by 21 percent. The loss ratio for the mortgage insurance business remains at about 70 percent.
Merck & Co. (NYSE:MRK): The FDA has accepted an NDA put forth by the company for the investigational anti-thrombotic medicine vorapaxar for “the secondary prevention of cardiovascular events in patients with a history of heart attack and no history of stroke or transient ischemic attack.” The drug, which Merck acquired in 2009, gives the company its fair share of challenges.