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Watchlist Movers: AbbVie Inc (NYSE:ABBV), Dollar General Corp. (NYSE:DG), Moneygram International Inc (NASDAQ:MGI)

Watchlist Movers: AbbVie Inc (NYSE:ABBV), Dollar General Corp. (NYSE:DG), Moneygram International Inc (NASDAQ:MGI)
Written by
Joel Najarian
Published on
October 31, 2014
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AbbVie Inc (NYSE:ABBV) reported Q3 earnings and sales that exceeded analysts' estimates and as it raised its guidance for FY 2014. The stock was most recently at $63.41 in pre-market trade, an all-time high if it holds into the regular trading session. The 52-week low is at $45.50. The pharmaceutical company said adjusted earnings rose 8.5% to $0.89 per share, exceeding the company's own guidance range between $0.77 and $0.79 as well as the $0.77 average estimate from analysts polled by Capital IQ. Revenue rose 7.8% to $5.02 billion compared to the $4.8 billion consensus.For the full year, AbbVie Inc (NYSE:ABBV) said it now expects adjusted EPS between $3.25 to $3.27, up from previously $3.06 to $3.16 and exceeding analysts' $3.17 estimate. The guidance doesn't include any potential revenue from the hepatitis C treatment, which is expected to be approved this year. Reported net income fell to $506 million or $0.31 per diluted share from $964 million or $0.60 a year ago on higher expenses.Dollar General Corp. (NYSE:DG) on Friday extended its tender offer to acquire all outstanding shares of Family Dollar Stores (FDO) for $80 per share in cash to December 31, 2014. The offer was scheduled to expire on October 31. In addition, Dollar General intends to file proxy materials with the U.S. Securities and Exchange Commission for the special meeting of shareholders of Family Dollar scheduled to be held on December 11, 2014, to vote on the merger with Dollar Tree (DLTR). Dollar General Corp. (NYSE:DG) is urging Family Dollar shareholders to vote against the merger agreement with Dollar Tree and instead tender their shares into Dollar General's offer. Dollar General said it remains committed to the proposed acquisition of Family Dollar and will continue to cooperate with the Federal Trade Commission to obtain antitrust regulatory clearance for the transaction.Moneygram International Inc (NASDAQ:MGI), a money transfer company, reported Q3 results that missed the Street view on EPS and total revenues and has removed prior guidance, hurt by a decline in transactions originated at Walmart (WMT). The company reported Q3 adjusted EPS of $0.22, down from $0.34 in Q3 2013 and missing analyst estimates of $0.33. Total revenues of $355.2 million were down from $375.8 million in Q3 2013 and missed analyst projections of $373.56 million. The company's transaction volume and revenue were negatively impacted due to Walmart's white-label product. For Q3 Moneygram International Inc (NASDAQ:MGI) reported a 57% decline in U.S.-to-U.S. transactions originated at Walmart and a 60% decline in revenue versus the prior year.The company has announced new lower prices for U.S.-to-U.S. transfers, now at $11.50 or less for most transactions available at all U.S. locations. Because of the introduction of lower prices, MGI is removing previous guidance. For Q4 the company estimates adjusted EBITDA to be between $60 and $65 million due to the anticipated impact from lower prices, the associated marketing expense and softness in certain geographies. Shares of MGI are trading within a 52-week range of $11.90 - $21.65. Shares of WMT are trading within a 52-week range of $72.27 - $81.37.

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