Cardinal Health (NYSE: CAH) announced today that it is sending an irrevocable notice of early redemption to the holders of the Company's $500 million 4.625% notes due 2020. The early redemption date is set to June 22, 2020, pursuant to the June 2, 2008 indenture and the notes.
Q3 2020 Cardinal Health Inc Earnings Call
Wall Street's main indexes were set to fall at the open on Monday after last week's rally, as investors worried about a second wave of coronavirus infections with the reopening of several economies. "That's going to put water on the fire today," said Gerald Sparrow, portfolio manager of the Sparrow Growth Fund in St. Louis, Missouri. Battered travel-related stocks, including Carnival Corp , Norwegian Cruise Line Holdings Ltd, American Airlines Group Inc and United Airlines Holdings Inc dropped more than 2% each in premarket trading.
The S&P 500 inched higher on Monday as investors balanced caution over new spikes in coronavirus infections with expectations that an economy crippled by mandated shutdowns will soon be re-opened for business. While the Dow was nominally lower, technology shares put the Nasdaq on course for its sixth consecutive advance. All three major U.S. indexes remain within 20% of all-time highs reached in February, with the tech-heavy Nasdaq within 10% of its closing record.
The S&P 500 ticked higher on Monday as gains in healthcare and technology stocks countered losses in financials, while investors kept an eye on new coronavirus cases as several countries ease lockdowns. The tech-heavy Nasdaq was headed for its sixth straight day of gains, while the Dow Jones index slipped about 0.2%.
U.S. stocks ended mixed on May 11 as there was no major event to give clear direction to investors.
The Zacks Analyst Blog Highlights: Qualcomm, Cogent Communications, FactSet and Cardinal Health
But the drug distributor also warns about the impact of elective medical procedures being postponed.
As the corporate sector scrambles for cash to weed off the liquidity crisis, various firms are looking beyond short-term funding avenues to bridge temporary cash shortfalls.
CAH earnings call for the period ending March 31, 2020.
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The S&P 500 closed barely higher, eking out a nominal gain on Monday as investors weighed new spikes in coronavirus infections with expectations that an economy crippled by mandated shutdowns will soon be re-opened for business. Technology and healthcare shares provided the biggest lift to all three major U.S. stock indexes and led the tech-heavy Nasdaq to its sixth consecutive advance. The blue-chip Dow lost ground.
Cardinal Health (CAH) continues to gain traction from the solid pharmaceutical segment, diversified product portfolio and strategic buyouts.
The S&P 500 and Dow Jones Industrials gave back some of last week's gains on Monday, as investors worried about the possibility of a second wave of coronavirus infections with the reopening of several economies. Financial stocks tend to lag when the economic outlook darkens.
Cardinal Health, Inc. is trading higher Monday on the back of an earnings and revenue beat for Q3. Prices made a new high for the move up from the March low, so a look at the charts seems like a good idea. In this daily bar chart of CAH, below, we can see that prices are above the rising 200-day moving average line and above the still declining 50-day moving average line.
Cardinal Health's (CAH) fiscal third-quarter results benefit from strong segmental performance.
The Covid-19 downturn may be an opportunity for the three big U.S. drug distributors, UBS analyst Kevin Caliende says.