$CERN & $PTC (Cerner Corporation & PTC, Inc.)

By admin | 10/28/2020

Spotting & Relaying Breaking News Immediately

When it rains, it pours.  Twice in just over an hour, 2 companies released information prematurely.  In both cases the Hammerstone Feeds alerted users within seconds to the actionable news, making them better investors, traders & sales traders.

The first presumed mistake occurred when health IT company Cerner ($CERN) surprised the street by announcing that their CFO would leave the company next year.  Because of the stigma associated with surprise CEO/CFO departure announcements, $CERN shares immediately sold off as Wall Street traders assumed the worst.  Hammerstone noticed the breaking news early, alerted our users and gave them a window make a potential trading decision and/or notify their clients of the premature announcement.  This kind of announcement is typically included in post-close scheduled earnings announcements.

Shortly after 3:30, with the CFO departure news already published, Cerner’s management decided to release their earnings report early as well.  Again, the Hammerstone team presented the surprise earnings release (twice in 1 one day!) immediately to our subscribers.

 

HsMkt (2:49:46 pm): $CERN – Cerner CFO Marc Naughton will depart in 2021

HsMkt (3:33:08 pm): $CERN Cerner 3q adj eps 72c vs. 66c y/y, est. 72c

HsMkt (3:33:12 pm): $CERN now out w earnings along with the CFO departure announcement (that earlier) – On a U.S. Generally Accepted Accounting Principles (GAAP) basis, 3Q 2020 net earnings were $357M and diluted eps were $1.16. 3Q 2019 GAAP net earnings were $82M and diluted eps were $0.26. Adj. Net Earnings for 3Q 2020 were $222M, compared to $212M of Adj. Net Earnings in the 3Q of 2019. Adj. Diluted eps were $0.72 in the 3Q of 2020, in line with the Company’s expectations and up 9% compared to $0.66 of Adj Diluted eps in the year-ago quarter. Adjusted Net Earnings and Adj. Diluted eps are not recognized terms under GAAP.

HsMkt (3:33:34 pm): $CERN Cerner sees 4q adj eps 76c to 80c, est. 78c

HsMkt (3:34:28 pm): $CERN sees fourth quarter 2020 new business bookings between $1.550 billion and $1.750 billion; Cerner Corp – qtrly rev $1.37 bln vs $1.43 bln

 

The 2nd culprit was software company PTC Inc. ($PTC) which inadvertently released its 3Q earnings on their website after 3 PM.  Their mistake was noticed by a major news outlet and then quickly spotted by the Hammerstone team, who alerted our subscribers immediately, prior to the news hitting others news outlets and services.  $PTC shares spiked 9% from near intra-day lows to a daily high.

HsMkt (3:15:39 pm): $PTC -PTC inc. 4Q adj rev $391.0m, +17% y/y, est. $356.7m; 4Q adj eps 78c vs. 45c y/y, est. 58c

HsMkt (3:16:05 pm): $PTC spike – remains down 3.5% – earnings were expected after the bell

HsMkt (3:16:10 pm): $PTC comments on 4Q results from co.website

HsMkt (3:19:30 pm):  $PTC spikes, turns green up 2% after eps released on website

 

 

Tags: , , , , , , , , , , , , , , , , , , ,