Investors in Bank of America (NYSE: BAC ) are getting a welcome reprieve today after better-than-expected data emerged from the housing sector. Shares of the nation's second largest bank by assets have fallen by nearly 10% since the beginning of June, but are rebounding today by more than 2%.
The primary catalysts for today's climb are three reports concerning the housing sector. First, the Federal Housing Finance Agency released its estimate of April home prices (link opens PDF). According to its House Price Index, the price of homes across the country increased by 0.7% in April compared to March. On a year-over-year basis, the growth rate surged to 7.4%. It was the 15th�consecutive monthly price increase in the purchase-only, seasonally adjusted index.
Second, a separate report from Standard & Poor's confirmed these results. Its Case-Shiller Home Price Index (link opens PDF) shot up on a sequential basis by 2.52% in April and on an annual basis by 12.05%. Moreover, all 20 cities covered by the index showed positive year-over-year returns for the fourth consecutive month, and a handful of them posted their highest annual gains since the start of their respective indices.
5 Best Heal Care Stocks To Invest In Right Now: Stryker Corporation(SYK)
Stryker Corporation, together with its subsidiaries, operates as a medical technology company worldwide. The company operates in three segments: Reconstructive, MedSurg, and Neurotechnology and Spine. The Reconstructive segment offers orthopaedic reconstructive (hip and knee) and trauma implant systems, as well as other related products. The MedSurg segment provides surgical equipment and surgical navigation systems; endoscopic and communications systems; patient handling and emergency medical equipment; and other related products. The Neurotechnology and Spine segment offers neurovascular products, spinal implant systems, and other related products. The company sells its products through local dealers and direct sales force to doctors, hospitals, and other healthcare facilities, as well as through third-party dealers and distributors in the United States, Europe, the Middle East, Africa, and Japan, Canada, the Pacific region, and the Latin America region. Stryker Corporat ion was founded in 1941 and is headquartered in Kalamazoo, Michigan.
Advisors' Opinion:- [By Jake L'Ecuyer]
Equities Trading UP
MAKO Surgical (NASDAQ: MAKO) shot up 82.38 percent to $29.49 after the company agreed to be acquired by Stryker (NYSE: SYK) for $30 per share in cash. Shares of Ascena Retail Group (NASDAQ: ASNA) got a boost, shooting up 16.34 percent to $20.17 after the company reported upbeat fiscal fourth-quarter results. - [By Keith Speights]
Stryker (NYSE: SYK ) executives placed blame squarely on the 2.3% medical device tax included in Obamacare as the reason for eliminating 5% of its workforce -- 1,170 jobs. Most of Stryker's cuts were implemented by the end of 2012 before the new taxes went into effect.
- [By Dan Carroll]
One look around the industry this quarter tells the story. Zimmer Holdings (NYSE: ZMH ) reported its own third-quarter results today. Zimmer's hip sales grew by only 2%, and while growing knee product sales managed to lift the company's quarterly revenue above expectations, the business hasn't been enough to save Zimmer's earnings from falling due to legal fees and other expenses. It's a similar story at Stryker (NYSE: SYK ) , another major rival in the orthopedics space. Stryker made a big move recently to purchase robotic orthopedic surgical firm MAKO Surgical to jump-start sales growth, and it'll need the jolt. Stryker's knee business grew revenue by only 2.1% in the third quarter, and while its hip sales managed strong growth, the firm will need its smaller, faster-growing businesses to continue to come through.
- [By Dan Carroll]
The industry's way of the future
Emerging market trauma buys isn't a new trend. Smith & Nephew follows in the footsteps of Stryker (NYSE: SYK ) , its fellow orthopedics player that spent $764 million on purchasing China's largest trauma business, Trauson Holdings, back in January. Zimmer Holdings (NYSE: ZMH ) also took a step into China's orthopedics market, purchasing Chinese�firm Montagne back in 2010 to push its own emerging market expansion.
5 Best Heal Care Stocks To Invest In Right Now: China Auto Logistics Inc.(CALI)
China Auto Logistics Inc. primarily engages in the sale and trading of imported automobiles in the People?s Republic of China. It also offers financing services, including letter of credit issuance, purchase deposit financing, and import duty advances, as well as automobile value-added services, including customs clearance, storage, and nationwide delivery services to automobile dealers and agents. In addition, the company operates Websites that provide subscribers with sales and trading information for imported and domestically manufactured automobiles. Its Websites include cali.com.cn, which provides auto living public with information about auto and auto-related products and services; at188.com that provides sales and trading information about imported automobiles, as well as parts and components information; at160.com, which provides sales and trading information about domestically manufactured automobiles; and goodcar.cn that provides information relating to automoti ve products and services, including discounted gas, car washes, emergency roadside assistance, body-shop repairs, and car maintenance. The company sells automobiles to authorized dealers, free traders or wholesalers, government agencies, and individual customers. China Auto Logistics Inc. is based in Tianjin, the People?s Republic of China.
Best China Companies To Buy For 2014: Iamgold Corp Com Npv (IMG.TO)
IAMGOLD Corporation, a mid-tier gold mining company, engages in the exploration, development, and production of mineral resource properties. It primarily explores for gold, silver, zinc, copper, niobium, diamonds, and other metals. The company holds interests in five operating gold mines, a niobium mine, a diamond royalty, and exploration and development projects located in Africa and the Americas. Its development projects include the Westwood project located in the Abitibi region, Qu茅bec, Canada; and the Camp Caiman project located in northeastern French Guiana, South America. The company was formerly known as IAMGOLD International African Mining Gold Corporation and changed its name to IAMGOLD Corporation in June 1997. IAMGOLD Corporation was founded in 1990 and is headquartered in Toronto, Canada.
5 Best Heal Care Stocks To Invest In Right Now: LogMein Inc.(LOGM)
LogMeIn, Inc. provides on-demand, remote-connectivity, collaboration, and support solutions to small and medium-sized businesses, information technology (IT) service providers, mobile carriers, and consumers in the United States and internationally. Its services include remote user access services, which allow users to access computers and other Internet-enabled devices to continue working while away from the office or to access personal systems while away from home; remote support and management services to deliver support and management of IT resources remotely; and remote collaboration to conduct online meetings and share documents, images, and their desktop with other users. The company?s remote user access services comprise LogMeIn Free, a free remote access service, which provides secure access to a remote computer or other Internet-enabled device; LogMeIn Pro, a remote access service; LogMeIn Hamachi, a hosted virtual private network service; and LogMeIn Ignition, a service that delivers access to remote computers that subscribe to LogMeIn Free or LogMeIn Pro. Its remote support and management services consist of LogMeIn Rescue, a Web-based remote support service to support remote computers and applications, and assist computer users via the Internet; LogMeIn Rescue+Mobile, an add-on of LogMeIn Rescue?s Web-based remote support service to remotely access and support smartphones and tablet computers; LogMeIn Central, a Web-based management console; and LogMeIn Backup, a service that subscribers install on two or more computers to create a backup network. The company?s remote collaboration services include join.me and join.me pro, which are browser-based online meetings and screen sharing services. LogMeIn, Inc. has a strategic agreement with Intel Corporation. The company was formerly known as 3am Labs, Inc. and changed its name to LogMeIn, Inc. in March 2006. LogMeIn, Inc. was founded in 2003 and is headquartered in Woburn, Massachu setts.
Advisors' Opinion:- [By Brian Pacampara]
What: Shares of software company LogMeIn (NASDAQ: LOGM ) soared 21% today after its quarterly results and outlook topped Wall Street expectations.
- [By Rich Smith]
Remote-access software maker LogMeIn (NASDAQ: LOGM ) reported strong Q1 earnings Thursday evening, beating analyst estimates on both profits and revenues, and guiding investors to expect higher-than-consensus earnings for both Q2 and the full year. LogMeIn said it earned $0.12 per share in the fiscal first quarter, will earn $0.11 to $0.12 in Q2, and keep on that track, with about $0.48 per share at the midpoint of guidance for the year.
- [By Rich Smith]
This series, brought to you by Yahoo! Finance, looks at which upgrades and downgrades make sense, and which ones investors should act on. Today, we're focusing on tech stocks, as analysts pull back on Facebook (NASDAQ: FB ) and Dolby Labs (NYSE: DLB ) , but become more bullish on LogMeIn (NASDAQ: LOGM ) . Let's start with that last one.
5 Best Heal Care Stocks To Invest In Right Now: Creso Exploration Inc. (CXT.V)
Creso Exploration Inc., an exploration stage company, engages in the exploration and development of mineral properties in Canada and Guatemala. It primarily explores for gold and silver, as well as for copper and zinc. The company�s principal mining exploration holdings include the Tyranite, Minto, and Duggan properties located in the Shining Tree mining camp of northern Ontario. Creso Exploration Inc. is headquartered in Montreal, Canada.
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