Today's Research Reports on Stocks to Watch: US Ecology and Valeant Pharmaceuticals
NEW YORK, NY / ACCESSWIRE / May 2, 2017 / Gains from major tech players, such as Alphabet, Facebook and Twitter, combined with continued strength in corporate earnings helped lift major indexes Monday. The S&P 500 and the Nasdaq posted gains of 0.17 percent and 0.73 percent, respectively, while the Dow Jones Industrial Average declined 0.13 percent. Profits for the S&P 500 Index are expected to increase by 13.6 percent in the first quarter, marking the largest rise since 2011, according to Thomson Reuters I/B/E/S.
"This is shaping up to be the strongest earnings season in several years," Peter Tuz, President of Chase Investment Counsel in Charlottesville, Virginia, told Reuters. "That has kind of got people gravitating back to equities and gravitating to the equities that are doing well."
RDI Initiates Coverage on:
US Ecology Inc.
https://ub.rdinvesting.com/news/?ticker=ECOL
Valeant Pharmaceuticals Intl. Inc.
https://ub.rdinvesting.com/news/?ticker=VRX
US Ecology's shares spiked 9.76 percent to close at $51.75 a share on Monday. The stock traded between $48.00 and $51.80 on volume of 170,704 shares traded. The company reported a net income of $5.2 million, or $0.24 per diluted share, for the first quarter of 2017, compared to $7.5 million, or $0.35 per diluted share, in the first quarter of 2016. Revenues were $110.2 million, down from revenues of $113.3 million in the same quarter a year ago. Shares of US Ecology have gained approximately 5.29 percent year-to-date.
"Overall, business conditions remain in-line with our expectations," commented Chairman and Chief Executive Officer, Jeff Feeler. "Our underlying Base Business remains strong and we continue to bid on and secure Event Business opportunities, further supporting our view of sequentially stronger quarterly financial performance as we progress through the year."
Access RDI's US Ecology Research Report at:
https://ub.rdinvesting.com/news/?ticker=ECOL
Valeant Pharmaceuticals' shares jumped 4.43 percent to close at $9.66 a share on Monday. The stock traded between $9.36 and $9.75 on volume of 16.37 million shares traded. On May 1st, the company announced that it had reduced its debt by an additional $220 million due to an "earlier-than-expected closing of the sale of three skincare brands to L'Oréal and the closing of the divestiture of a manufacturing facility in Brazil." Since the first quarter of 2016, the company has reduced its debt by approximately $3.6 billion. Valeant Pharmaceuticals is scheduled to release results for the first quarter of 2017 on Tuesday, May 9th. Shares of Valeant Pharmaceuticals have fallen approximately 33.47 percent year-to-date.
Access RDI's Valeant Pharmaceuticals Research Report at:
https://ub.rdinvesting.com/news/?ticker=VRX
Our Actionable Research on US Ecology Inc. (NASDAQ: ECOL) and Valeant Pharmaceuticals Intl Inc. (NYSE: VRX) can be downloaded free of charge at Research Driven Investing.
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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
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SOURCE: RDInvesting.com
