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AmerisourceBergen Corporation

6/19/2013, 7:16 PM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Tuesday, June 11, 8:13 AM Leerink upgrades AmerisourceBergen (ABC) to Outperform from Market Perform on the strength of the Walgreen deal which "will provide incremental earnings to ABC for years, well beyond the $0.25 guided to for FY14," analyst David Larsen predicts, adding that the company "may seek to do more deals throughout the world." Comment! [Healthcare]
Friday, May 17, 12:48 PM Walgreen (WAG +1.3%) and Alliance Boots receive the regulatory clearances for their equity investment in AmerisourceBergen (ABC +0.4%). The clearances permit both to purchase up to 7% of ABC in the open market, and the exercise of two warrants for 16% in the aggregate in 2016 and 2017. Comment! [Healthcare, M&A, On the Move]
Monday, May 6, 9:55 AM AmerisourceBergen (ABC) declares $0.21/share quarterly dividend, in line with previous. Forward yield 1.54%. For shareholders of record May 20. Payable June 03. Ex-div date May 16. (PR) Comment! [Dividends]
Monday, April 29, 10:04 AM AmerisourceBergen (ABC +0.7%) looks like the favorite to win a Sam's Club contract worth $700M to $900M, according to Cleveland Research. The boutique firm has a good track record recently of having a decent read on the pulse of all things Wal-Mart related. (Timeline: Cleveland Research on WMT) Comment! [Consumer]
Friday, April 26, 1:10 PM Credit Suisse analyst Glen Santangelo raises his price target on AmerisourceBergen (ABC +0.2%) to $61 from $58, based on applying a 16x multiple (which reflects a "strong mid-teens growth outlook") to a FY14 EPS estimate of $3.82. "How [will management] reinvigorate growth within the [Oncology] segment?" Santangelo asked on the call, referring to a lower contribution to operating income from the cancer business. "It's a complicated issue … [and] we're on it," CEO Steve Collis responded, adding that the company "is as well positioned in the industry as [it's] ever been." (transcript) Comment! [Healthcare]
Thursday, April 25, 8:12 AM More on AmerisourceBergen's (ABC) Q1 miss: Operating expenses rose 21.2% Y/Y due to expenses related to World Courier. The company says it is excited to "significantly expand its drug wholesale business" in the coming quarters via its relationship with Walgreen. Shares are down 3.35% premarket as the company guides in the lower end of its FY2013 EPS range of $3.04-3.14 per share. (PR) Comment! [Healthcare, Consumer, Earnings, On the Move]
Thursday, April 25, 7:15 AM AmerisourceBergen (ABC): Q1 EPS of $0.87 misses by $0.01. Revenue of $20.5B (+4.1% Y/Y) misses by $0.83B. (PR) Comment! [Earnings, Breaking News]
Thursday, April 25, 12:05 AM Notable earnings before Thursday’s open: ABC, AIXG, ALK, ALXN, AME, ASPS, AVT, AZN, BC, BG, BIIB, BLL, BMS, BMY, BSX, BWA, CAB, CAM, CCE, CELG, CFX, CL, CMS, CNX, COP, CRR, CSH, D, DAN, DLX, DNKN, DO, DOW, DST, EQT, ESI, ETR, FAF, GPK, GTI, GTLS, HERO, HOG, HP, HSY, IDCC, IMAX, JBLU, KKR, KMT, LEA, LINE, LKQ, LLL, LUV, LVLT, MDP, MJN, MMM, MO, NBL, NLSN, NMM, NYT, O, ODFL, ORI, OXY, PCS, PDS, PH, PHM, POT, PRLB, PTEN, PVR, RCL, RDWR, RRD, RS, RTN, RYN, SCG, SIAL, SUI, SWK, SWY, TASR, TSRA, TWC, UAL, UPS, UTHR, WBC, XOM, YNDX, ZMH Comment! [Earnings]
Wednesday, April 24, 5:30 PM Notable earnings before Thursday’s open: ABC, AIXG, ALK, ALXN, AME, ASPS, AVT, AZN, BC, BG, BIIB, BLL, BMS, BMY, BSX, BWA, CAB, CAM, CCE, CELG, CFX, CL, CMS, CNX, COP, CRR, CSH, D, DAN, DLX, DNKN, DO, DOW, DST, EQT, ESI, ETR, FAF, GPK, GTI, GTLS, HERO, HOG, HP, HSY, IDCC, IMAX, JBLU, KKR, KMT, LEA, LINE, LKQ, LLL, LUV, LVLT, MDP, MJN, MMM, MO, NBL, NLSN, NMM, NYT, O, ODFL, ORI, OXY, PCS, PDS, PH, PHM, POT, PRLB, PTEN, PVR, RCL, RDWR, RRD, RS, RTN, RYN, SCG, SIAL, SUI, SWK, SWY, TASR, TSRA, TWC, UAL, UPS, UTHR, WBC, XOM, YNDX, ZMH Comment! [Earnings]
Wednesday, April 10, 10:58 AM Goldman upgrades AmerisourceBergen (ABC +1%) to Buy from Neutral. The company's "unprecedented agreement" with Walgreens should provide "meaningful upside [as] the savings ABC can extract from being part of the largest global purchaser of generic drugs could eclipse the amount of accretion resulting from the distribution contract alone," Goldman notes before saying it is adding $0.20 to FY15 estimates and predicting $5.22 in FY16. Price target: $61. Comment!
Wednesday, March 20, 2:50 PM AmerisourceBergen (ABC +0.5%) catches an updraft from Citigroup today, after the firm raised its rating to Buy, and ups its price target from $48 to $62. Citi considers the deal with Walgreens (WAG) and Alliance Boots for generic and branded drugs to be transformational because it significantly expands ABC's international reach and adds significant purchasing power to all three companies. The deal is expected to add $2B in FY13 revenue, $25B in FY14, and over $28B annually after fully ramped up. Comment! [Healthcare, Consumer]
Tuesday, March 19, 9:50 AM AmerisourceBergen (ABC) jumps 6.1% out the gate after it signs a 10-year distribution deal with Walgreen and Alliance Boots in which the latter two companies will also have the right to buy up to 23% in AmerisourceBergen. The deal will boost the distributor's revenues by $28B and EPS by $0.20 in FY 2014. However, it will pressure margins, and AmerisourceBergen cuts its FY 2013 EPS to $2.96-3.06 from $3.06-3.16 previously. Still, it raises its revenue growth forecast to 8-11% from 6-9%. (PR) Comment! [Healthcare, On the Move, Top Stories]
Tuesday, March 19, 9:20 AM Market preview: Stock futures turn positive following strong data on housing starts as markets decide that Cyprus isn't that important after all, until it is again. The S&P mini is +0.2%. Most of Europe's still down, although the FTSE has turned green (+0.2%). In corporate news, AmerisourceBergen (ABC) jumps 6.6% after signing a 10-year distribution deal with Walgreen and Alliance Boots. Later: FOMC meets Comment! [Global & FX, U.S. Economy, Top Stories, On the Move]
Tuesday, March 19, 9:10 AM Premarket gainers: NPSP +10%. SKUL +7%. ABC +6%. ACAD +5%.
Losers: AFFY -59%. HNR -46%. MTSL -30%. STSI -11%. CAH -8%. DSW -7%. HPT -6%. Comment! [On the Move]
Tuesday, March 19, 8:41 AM CardinalHealth (CAH) tumbles 5.2% after AmerisourceBergen (ABC) signs a 10-year distribution deal with Walgreen and its partner Alliance Boots. Meanwhile, CardinalHealth has completed its $2.07B acquisition of privately held AssuraMed, a provider of medical supplies to patients in the home. Comment! [Healthcare, On the Move]
Tuesday, March 19, 6:48 AM More on Walgreen (WAG): A strategic deal between Walgreens and Alliance Boots with AmerisourceBergen (ABC) is announced in which the companies will collaborate on global strategic supply chain opportunities. A distribution agreement for branded and generic pharmaceutical products is expanded to 10 years. (PR) 1 Comment [Consumer]