Today, 7:07 AM
Yesterday, 5:30 PM
- AB, ABMD, ACIW, ACOR, ADP, AEP, ALKS, ALLE, ALXN, AMT, APD, ARIA, AZN, BC, BCC, BCO, BCOR, BEN, BG, BGCP, BHI, BMS, BMY, BSX, BWA, BWEN, BZH, CAB, CBG, CBM, CELG, CFX, CIT, CL, CLF, CLFD, CME, CMS, COMM, COP, COR, CRR, CRS, CS, CSH, CVI, CVRR, CWT, DBD, DFT, DLX, DOW, DSX, EME, EPD, EQM, EQT, EXLS, F, FCFS, FCN, FI, FIG, FITB, FLY, FSS, GLOP, GNC, GOV, GPI, GPN, GRUB, GTLS, HCA, HEES, HOG, HP, HSY, HTH, IART, IDA, IGT, INCR, INGR, IP, IPGP, IRDM, ITC, ITG, IVC, IVZ, KEM, LAD, LAZ, LDOS, LEA, LKQ, LLL, LPG, MA, MCS, MD, MDP, MDWD, MINI, MITK, MJN, MKTX, MMC, MNRO, MPC, MPLX, MSCI, MTH, MTRN, MVIS, NAP, NEWM, NICE, NMR, NOV, NTCT, NYT, OAK, ODFL, ORI, OSK, PAG, PCG, PES, PF, PJC, PNR, POT, PRLB, PTEN, PX, RDN, RDS.A, RPM, RTN, SCG, SEE, SERV, SFE, SPB, SPGI, SQBG, SQNS, STNG, SXC, SXCP, TCK, TFX, TGI, THRM, TKR, TMO, TPX, TREE, TRI, TZOO, UAN, UBSI, UTHR, VC, VGR, VIVO, VNTV, WCC, WILN, WRLD, WST, WWE, YNDX, ZBH
Mon, Jun. 27, 11:16 AM
- The outperformance of low-P/E stocks that marked H1 is behind us, says RBC's Jonathan Golub, and it's time for the "Stable Growers" to re-asset leadership. He cautions about putting money to work too quickly though, noting the pullback so far has been limited.
- His list of Stable Growers (page 1, page 2): CHD, CL, CVS, K, MO, PEP, PG, PM, BCR, BDX, DGX, DVA, HSIC, JNJ, LH, MDT, SYK, TMO, UNH, ZBH, AFL, AON, MMC, TMK, CTAS, DHR, HON, ITW, LMT, MMM, NLSN, RSG, RTN, UPS, VRSK, WM, XYL, CMCSA, MCD, OMC, ADP, APH, EMC, MA, T, VZ, ECL, PX
Mon, May 23, 12:39 PM
- "Politics is now a topic in every client discussion," say David Kostin and team, and the nature of today's electorate nearly assures a close race, even though prediction markets currently assign a high probability of a Clinton victory.
- When uncertainty rises, consumer staples (NYSEARCA:XLP) typically outperforms, while tech (NYSEARCA:XLK) lags.
- Getting down to names, with protectionism and tax policy two key areas of debate, buy those stocks with high U.S. sales and high effective tax rates, and avoid those with high foreign sales and low tax rates.
- High U.S. sales and high tax rates (buy): Cardinal Health (NYSE:CAH), Fidelity National (NYSE:FIS), Discover (NYSE:DFS), AmerisourceBergen (NYSE:ABC), Schwab (NYSE:SCHW), ADP (NASDAQ:ADP), Chipotle (NYSE:CMG), Reynolds America (NYSE:RAI), Express Scripts (NASDAQ:ESRX), Alliance Data (NYSE:ADS), Fiserv (NASDAQ:FISV), Paychex (NASDAQ:PAYX), Whole Foods (NASDAQ:WFM), Akamai (NASDAQ:AKAM), Intuit (NASDAQ:INTU), Southwest Airlines (NYSE:LUV).
- High foreign sales and low tax rates (avoid): Abbott Labs (NYSE:ABT), Agilent (NYSE:A), Mondelez (NASDAQ:MDLZ), XL Group (NYSE:XL), Waters (NYSE:WAT), Priceline (NASDAQ:PCLN), Transocean (NYSE:RIG), PerkinElmer (NYSE:PKI), Nvidia (NASDAQ:NVDA), Lam Research (NASDAQ:LRCX), Western Digital (NASDAQ:WDC).
Thu, Apr. 28, 7:08 AM
Wed, Apr. 27, 5:30 PM
- AB, ABBV, ACOR, ADP, AEP, AET, AIT, ALKS, ALLE, ALXN, AME, APD, ASPS, AUO, AVT, AXTA, BC, BCOR, BG, BLL, BMS, BMY, BOFI, BWA, BWEN, BXLT, BZH, CAB, CAH, CBG, CCE, CELG, CHTR, CIT, CL, CLF, CLFD, CME, CMS, COMM, COP, COR, CRCM, CRI, CRR, CSH, CVI, CVRR, CWT, CY, DBD, DFT, DLX, DNKN, DOW, DPZ, EME, EPD, EQM, EQT, F, FCFS, FCN, GEO, GLOP, GNC, GOV, GTLS, GWR, HAR, HEES, HHS, HMC, HUN, I, IDA, IDCC, INGR, INSY, INT, IPGP, IQNT, IRDM, IRM, ITC, ITCI, IVC, IVZ, KERX, LANC, LBY, LKQ, LVLT, MA, MD, MDP, MHO, MINI, MITK, MJN, MMC, MO, MPC, MPLX, MSCI, MTH, NEE, NEWM, NOV, OAK, ODFL, ORI, OSK, PF, PJC, POT, PPL, PRLB, PTEN, QSR, RGS, RTIX, RTN, RUTH, SABR, SCG, SEE, SFE, SIRI, SNAK, SNE, SPB, SPIL, SQNS, TFX, THRM, TMO, TOWR, TPX, TWC, TZOO, UAN, UBSI, UFS, UPS, UTHR, VA, VAC, VC, VIAB, VIVO, WCC, WM, WNS, WST, XRS, YNDX, ZBH
Wed, Apr. 6, 1:00 PM
Wed, Feb. 3, 7:03 AM
- Automatic Data Processing (NASDAQ:ADP): FQ2 EPS of $0.72 in-line.
- Revenue of $2.81B (+5.6% Y/Y) in-line.
Tue, Feb. 2, 5:30 PM
Tue, Jan. 19, 1:55 PM
- Automatic Data Processing (NASDAQ:ADP) declares $0.53/share quarterly dividend, in line with previous.
- Forward yield 2.69%
- Payable April 1; for shareholders of record March 11; ex-div March 9.
Nov. 10, 2015, 2:25 PM
- Automatic Data Processing (NASDAQ:ADP) declares $0.53/share quarterly dividend, 8.2% increase from prior dividend of $0.49.
- Forward yield 2.45%
- Payable Jan. 1; for shareholders of record Dec. 11; ex-div Dec. 9.
Oct. 28, 2015, 2:18 PM
- Though it beat FQ1 EPS estimates (while slightly missing on revenue), ADP (ADP -3.4%) now expects FY16 (ends June '16) EPS growth to be at the lower end of a prior 12%-14% guidance range; consensus is for EPS to rise 13% to $3.27. The company blames "additional selling expenses due to an increased forecast for new business bookings growth, as well as expected investments in operational resources to support additional new business sold."
- FY16 revenue growth guidance has been cut to 7%-8% from 7%-9% (consensus is at 8.1%) due to the sale of ADP's AdvancedMD electronic health record system unit. However, new business bookings are now expected to rise at least 10%, better than prior guidance of 8%-10%. New business bookings rose 13% Y/Y in FQ1, after growing 18% in FQ4.
- Employer Services revenue rose 3% Y/Y in FQ1 to $2.13B; segment op. margin fell 40 bps Y/Y to 27.6%. PEO services revenue rose 18% to $701.5M; op. margin grew 130 bps to 12.6%. Forex had a 3% impact on total revenue growth (6% vs. 9%).
- EPS received a lift from the repurchase of $4.2M shares at a cost of $334M - in August, ADP raised $2B to finance buybacks.
- Shares went into earnings just $2.35 away from a 52-week high of $90.67.
- FQ1 results, PR
Oct. 28, 2015, 7:11 AM
- Automatic Data Processing (NASDAQ:ADP): FQ1 EPS of $0.68 beats by $0.03.
- Revenue of $2.71B (+5.4% Y/Y) misses by $10M.
Oct. 27, 2015, 5:30 PM
- ACCO, ADP, AGCO, AIT, AN, ANTM, APO, ARW, BAH, BDC, BGCP, BOKF, BSX, CARB, CFR, CG, CHMT, CMC, COT, DHX, DORM, DX, EVER, EVR, FCAU, FDML, FLIR, GD, GHM, GNRC, GRMN, HES, HLT, HOT, HSY, HTA, ICE, IDXX, IP, JLL, LFUS, LVLT, MDLZ, NEE, NMR, NOC, NOV, NSC, OXY, PCG, Q, RDWR, RES, ROL, SAH, SAIA, SLAB, SNCR, SO, SONS, SSE, STRA, TECH, TEL, TGI, TKR, UMC, VLO, VLY, VNTV, WBA, WEX, WOOF, XRAY
Aug. 28, 2015, 11:58 AM
- "The significant planned increase in ADP's (ADP -0.1%) funded debt signals a meaningful change in financial policy and sets the stage for the possibility of further credit weakening through future debt raises," says Moody's cutting the company's credit rating to Aa3 from Aa1.
- Previously: ADP raising $2B in debt to buy back shares (Aug. 28)
- "Future long-term debt issuances could diminish ADP's financial flexibility, including its ability to pursue prudent strategic opportunities and to defend its market share against emerging competition," continues Moody's. "The company's credit profile had previously been weakened by asset divestitures, which diminished its scale and decreased diversification of its product portfolio."
Aug. 28, 2015, 7:49 AM
- Assuming successful completion of the $2B offering, ADP intends to repurchase 25M shares, or more than 5% of the float, over the following 12-24 months.
- This 25M share plan is in addition to the roughly 26M shares still remaining under previous authorizations.
- CEO Carlos Rodriquez notes the company has the necessary leverage capacity within its current AA/Aa credit rating.
Automatic Data Processing, Inc. provides business outsourcing solutions. The company operates through three business segments: Employer Services and Professional Employer Organization Services. The Employer Services segment offers business outsourcing and human capital management solutions,... More
Industry: Business Software & Services
Country: United States
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