Integra LifeSciences Q3 Profit Tops Estimates; Revenues Down 1.5% On Organic Basis

Integra LifeSciences Holdings Corp. (IART) reported third quarter adjusted earnings per share of $0.80, compared to $0.68, last year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.53, for the quarter. Analysts’ estimates typically exclude special items.

Third quarter reported revenues were $370.2 million, a decrease of 2.3% on a reported basis and a decrease of 1.5% on an organic basis compared to the prior year. Analysts expected revenue of $347.98 million, for the quarter.

Due to the ongoing uncertainty related to the pandemic, the company’s guidance for the full-year 2020 remains withdrawn.

“Better than expected performance in the third quarter was driven by stronger recovery trends and solid execution across the organization. Barring significant worsening of the pandemic, we believe these efforts will result in a further sequential revenue improvement in the fourth quarter,” said Peter Arduini, Integra’s CEO.

Boston Scientific Corp Q3 adjusted earnings Beat Estimates

Below are the earnings highlights for Boston Scientific Corp (BSX):

-Earnings: -$169 million in Q3 vs. $126 million in the same period last year.
-EPS: -$0.12 in Q3 vs. $0.09 in the same period last year.
-Excluding items, Boston Scientific Corp reported adjusted earnings of $530 million or $0.37 per share for the period.
-Analysts projected $0.25 per share
-Revenue: $2.66 billion in Q3 vs. $2.71 billion in the same period last year.

Turkey Bars Health Workers Quitting as Covid Deaths Near 10,000

Turkey’s government barred public health workers from quitting or retiring, as a surge in coronavirus cases brings the death toll near 10,000.

The ban applies to doctors, nurses and other health workers in the public sector and is meant to ensure an uninterrupted fight against Covid-19, the Hurriyet newspaper reported Wednesday, citing an order from the Health Ministry.

Turkey Sounds Alarm on Jump in Coronavirus Cases Nationwide

Turkey quietly stopped disclosing figures for all confirmed cases in July, instead only releasing numbers for symptomatic patients. Health Minister Fahrettin Koca earlier this month told local media that Turkey would report complete figures to the World Health Organization.

Official data as of Oct. 27 showed 366,208 confirmed patients, with 9,950 dead.

Entergy Corp Q3 adjusted earnings Beat Estimates

Entergy Corp (ETR) released earnings for its third quarter that increased from last year.

The company’s earnings totaled $521 million, or $2.59 per share. This compares with $365 million, or $1.82 per share, in last year’s third quarter.

Excluding items, Entergy Corp reported adjusted earnings of $491 million or $2.44 per share for the period.

Analysts had expected the company to earn $2.42 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

Entergy Corp earnings at a glance:

-Earnings (Q3): $491 Mln. vs. $506 Mln. last year.
-EPS (Q3): $2.44 vs. $2.52 last year.
-Analysts Estimate: $2.42

-Guidance:
Full year EPS guidance: $5.60 to $5.70

Oil Prices Fall Over 3% On Oversupply Fears

Oil prices tumbled on Wednesday after industry data showed a rise in U.S. crude oil and gasoline stocks last week, adding to worries about oversupply. Renewed lockdowns in Europe also fanned fresh worries about global fuel demand.

Benchmark Brent crude fell 3.2 percent to $40.30 a barrel, after having climbed almost 2 percent in the previous session.

U.S. crude futures were down as much as 3.9 percent at $38.02 after a 2.6 percent rally on Tuesday, lifted by reports about evacuation of over 150 offshore facilities along the U.S. Gulf Coast due to Hurricane Zeta.

The American Petroleum Institute reported late Tuesday that U.S. crude inventories rose by 4.6 million barrels to about 495.2 million barrels for the week ended October 23 – coming well above analyst expectations of a 1.2 million barrel build. The official EIA numbers will be out later today.

Meanwhile, surging Covid-19 cases in the U.S. and Europe raised fears of weak fuel demand.

The United States is logging more coronavirus infections than ever before, with 29 states reporting record numbers of infections over the past week.

The situation in Europe is “serious and alarming” and the bloc must be more efficient with testing, contact tracing, vaccine and quarantine policies, the EU Council President, Charles Michel, told Italian daily La Stampa in an interview published today.

Bank of England gives banks breathing space over crisis plans

LONDON (Reuters) – Britain’s main banks will have extra time before they have to say publicly how they could be closed down in a crisis, the Bank of England proposed on Wednesday.

Banks were required to submit a report to the BoE this month assessing how they would be wound up in a crisis without needing taxpayer support, and publish a summary next June. The BoE has proposed a one-year delay for both deadlines.

Anthem, Inc. Q3 adjusted earnings Beat Estimates

Anthem, Inc. (ANTM) revealed a profit for third quarter that declined from the same period last year.

The company’s earnings came in at $0.22 billion, or $0.87 per share. This compares with $1.18 billion, or $4.55 per share, in last year’s third quarter.

Excluding items, Anthem, Inc. reported adjusted earnings of $1.07 billion or $4.20 per share for the period.

Analysts had expected the company to earn $4.15 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 16.8% to $31.16 billion from $26.67 billion last year.

Anthem, Inc. earnings at a glance:

-Earnings (Q3): $1.07 Bln. vs. $1.27 Bln. last year.
-EPS (Q3): $4.20 vs. $4.87 last year.
-Analysts Estimate: $4.15
-Revenue (Q3): $31.16 Bln vs. $26.67 Bln last year.

-Guidance:
Full year EPS guidance: $22.30