IBD Newspaper

IRS Plays PoliticsIt seems the tax collectorstruly loathe conservativesISSUES & INSIGHTS A14-15

Pat Boones Long RunHes still producing winnersafter eons of entertainmentLEADERS & SUCCESS A3

Retailers In JulyMost of them got low gradesfor the back-to-school seasonTHE NEW AMERICA A9

Redos ResurgeWhich stocks stand to benefitas more folks remodel homes?INSIDE REAL ESTATE A10

Focus On QualityInvestors are seeking safety;equity ETF strategies deliverMUTUAL FUNDS & ETFs A11-13

BY RE INHARDT KRAUSEINVESTOR'S BUSINESS DAILY

Mediastockscontinuedtheircol-lapse Thursday, with investorsworried that a day of reckoningis at hand for the pay-TVecosys-tem.Walt DisneysDIS warning lateTuesday over slowing revenuegrowth from affiliate fees, thepayments media firms garnerfrom pay-TV companies, set thesell-off inmotion. Generally softmediaearningsdidnthelp.Disneyshares fell 1.8%after los-ing9%Wednesday.Overthepast twosessions,Via-comVIA crashed 20%, hitting itslowest level since 2010. TimeWarnerTWX fell 10%and21stCen-turyFoxEntertainmentFOXA 13%.Those affiliate fees based onhow many pay-TV subscribershaveaccess tocablechannels likeESPN or Nickelodeon as part ofbasic or premium programmingpackagesareatriskasconsum-ers shift towatching on-demandcontentvia theInternet.Even sports content, the big-gest driver of high affiliate fees,nolongerseemsasanctuary,ana-lysts say, in light of Disneys cutto ESPN subscriber guidance.Both Disney and Fox are spend-ing more to acquire TV rightsandneedtorecoupthosecosts inaffiliate fees.

Sling Masks Dish LossesComcastCMCSA and satellite TVbroadcaster Dish NetworkDISHwere among pay-TV companiesthat reported higher video sub-scriber losses in Q2. Dish onWednesday said it lost 81,000video subscribers comparedwith 44,000 a year earlier. Butits actual pay-TV loss may havebeen 237,000, obscured by theaddition of Sling Web TV ser-vicecustomers, saysUBS.

When cable TV companies re-port video subscriber losses,therescontagionformediacom-panies aside from affiliate fees.As viewership falls, advertisingratesgodown.In response to competitionfrom NetflixNFLX and complaintsover rising monthly bills, pay-TV providers have becometougher negotiators when pro-gramming deals with mediafirmscomeupforrenewal.Time Warner CableTWC paid aprice when it dropped CBSCBSchannels inAugust 2013 and lost190,000subscribers.

Are Viacom Channels Viable?AloomingDish-Viacomnegoti-ation in 2016 could be a tippingpoint for the industry, withDishpossibly dropping Viacom con-tent, says brokerage Moffett-Nathanson.DishCEOCharlieErgen,whilenotmentioningViacomdirectly,on its earnings call Wednesdaysaid Kids programming used toalways be kind of right up therein the top two, three, four thingspeople watch, but with the ad-ventofNetflix,whatourcustom-ers are doing we know a lot ofour customers have Netflix they just go to Netflix and hitkids. And, the kids are happy towatch SpongeBob from 2007.Thats just as fresh to them asSpongeBobfrom2015.Pay-TVcompanies are shiftingto skinny TV packages, offer-ingconsumersfewercablechan-nels in cheaper monthly plans.Verizon CommunicationsVZ inApril broke the traditional TVbundle, announcing that itwould sell packages excludingsports content. ESPN filed suitvs.Verizon, claiming its customTVofferviolatedanexistingdis-tributionagreement.CableTVfirmCharterCommu-nicationsCHTR which stands togetmuch bigger by buying TimeWarner Cable and BrightHouse on Tuesday said it wants tooffer skinnyTVdeals, too.Charter CEO Tom Rutledge

SEE CABLE ON A9

Bojangles Lifts 15 Sales View,Wingstop Upbeat On RevenueBojangles Stock Rises Late

BY JED GRAHAMINVESTOR'S BUSINESS DAILY

Grandplanstoseal theTrans-Pa-cific Partnership trade deal lastweek, linking together 40% ofglobal tradeand800millioncon-sumers,weretrippedupbyCana-dian cows and American sugarcane.The risk is that the deal, whichwould be positive for the U.S.economy and geopolitical influ-ence,couldslip throughits graspafter thissetbacktonegotiations,dealt by protected industrieswith outsized political staturerelative to theireconomicscale.ThePetersonInstituteforInter-national Economics estimatesthat the 12-nation trade dealwouldraiseU.S. incomes,onnet,by$77billionayear,growingrel-ativelyhigh-payingexport-relat-ed jobsby650,000, thoughat thecostof somemanufacturing jobs.Ontopof theeconomicgains, itwould draw major Asia-Pacificcountries other thanChina clos-er to the U.S. On the other hand,if thefive-year-longTPPnegotia-tion remains stymied, Chinamay fill the vacuum, as its al-readydoing to somedegreewithits plan for a $100 billion AsianInfrastructureBank.At this point its a race againstthe clock, said Bill Watson,tradepolicyanalystattheCatoIn-stitute. If they dont finish it bythe end of this year, it could fallto thenextpresident to finish it.

Waiting For HillaryThat year-end timeline effec-tively means that all 12 nationsmust sign off on the deal in thenext twoweeksor so tohave anyhopeof itcomingtoavoteinCon-gress before the Christmas re-cess. The timing reflects termsof trade promotion authoritygranted toPresidentObama thatare meant to ensure a full andtransparent debate before law-makerscast theirvotes.Oncethecalendarslips to2016,presidential nominating battles,particularly on the Democraticside, cloud the outlook. Front-runner Hillary Clinton, who hasrefused to take a position on the

trade deal, would facemountingpressure to help defeat it as theearly contests in Iowa and NewHampshireapproach.ThegrowinguncertaintyduetoU.S. politics likely means thatleaders from the other 11 nationswill be even more reluctant tomake concessions if they cantreachadealbymidmonth.Doing so would ensure thattheyfaceapoliticalcost foroffer-ingtotakeawayprotectionstofa-voredindustries,evenif thepolit-ical fruits from finalizing a dealremainoutof reach.

Political DelayU.S. politics explains why somuchof thehardbargainingwasleft until the 11th hour. Conten-tious issues over the auto, dairy,sugar and drug industries,amongothers,were left until theend because there was little in-centive for countries to givegrounduntil Congress approvedtheTPPthatallows foranup-or-down vote without amendment,Watsonsaid.Many seemingly separate is-sues are intertwined becausecountries tie concessions in onearea toapayoff inanother.Forexample, theU.S. refusal togrant more than a modest in-crease in Australian sugar im-portsmayexplainwhy theAuss-ies havent yielded over thelength of market protection forbiologic medicine, reportedlysticking to five years vs. the 12thatU.S.drugmakers seek.Still, Peterson Institute seniorfellow Jeffrey Schott is optimis-tic thatadealwill getdone, char-acterizing the talks as nowbeinginside the five-yard line.He added: The last few yardsgetting it over the goal line iswhenyouhave the fiercest resis-tance. . . . (Yet) the risk that thetalks could drift for quite sometime may give the participantsthe sense of urgency needed toreachanaccord.

Window Could CloseWhiletheTPPmightstillbedo-able in 2017, the possibility of aDemocratic-controlled Senateand other hard-to-predict cir-cumstancesmightmean that thewindowwill shut in a more per-manentway,Schott said.Schott doesnt expect a perfectdeal. He thinks import quotasmay remain on dairy, rice andsugar in Canada, Japan and theU.S., and the quotas could gohigher thantheyarenow.SEE TPP ON A9

Indexes, Leaders Are Routed1 The Nasdaq slid 1.6% ahead of Fri.sjobs report, hurt by solar, biotech andsecurity software stocks. The S&P 500lost 0.8% as ViacomVIAB led a media stocksell-off, but energy and metals outper-formed. Volume surged, makingmattersworse. Several leading stocks slid morethan 5%. The 10-year Treasury yield slid5basispoints to2.22%.MoreonB3

Breaking: Media Stocks Break2 The media company sell-off contin-uedas investors questionedpayTVsviability with AmazonAMZN and NetflixNFLXstreamingcompeting.ViacomVIAB, seenasamong the most vulnerable cable con-tent firms, fell more than 13%.Walt Dis-neyDIS and ComcastCMSCA each fell 1.8%,after bigger lossesWed.Netflixhit anewclosinghigh.Moreonthispage

Allergan Modestly Tops Views3 The IBD 50 regular earned $4.41 ashare ex items, up 29% and aboveforecasts by 3 cents. Revenue leapt 116%to $5.76 bil ($5.73 bil minus divestedWestern European assets) vs. analystviews for $5.71 bil. Drugmaker Aller-ganAGN shelved a new outlook until Sept.following its recent deal to sell its gener-ics business to Teva PharmaceuticalTEVAfor$40.5bil. Shares fell 5.1%.MoreonA4

Monster Profit Margin Rises4Monster BeveragesMNST diluted Q2EPS fell 3% to 79 cents, below esti-mates for 91 cents due to currency head-windsandcosts associatedwithstrategicpartner Coca-ColaKO, which owns 16.7%of the energy-drink maker. Net salesedged up 1% to $693.7 mil, missing esti-mates. Profit margin rose to 56.9% from55.2%.Monster initially sold off late, butrose5%lateafter closingdown6%.

Wingstop, Bojangles Top Q25 Both recent chicken eatery IPOsbeat estimates. WingstopWING adjust-edpro-formaEPSgrew10%to 11 cents, 2cents above views, as sales grew 18% to$19.2milvs.views for$18.4mil. Itguided15 revenue targets up to $75.5 mil-$76mil.Wingstopshares fell2.7%late.Bojan-glesBOJA said pro-forma diluted EPS grew44%to23cents, toppingby7cents.Reve-nue grew 13.1% to $120.5 mil, topping.Thechainraised its full-yearoutlook.Bo-jangles rose3.5%late.Moreonthispage

Mobileye Sees Even Better6 The maker of driver assistance andcollision-avoidance tech beat esti-mates with Q2 EPS doubling as revenueup 57% to $52.8 mil. MobileyeMBLY raisedfull-year sales and profit guidance. Thestock initially fell 9% but closed downjust 0.6%. TeslaTSLA, BMW, FordF andGMGMuse its technology.MoreonA4

Planet Fitness Goes Flat Fast7 The unusual gym operators stockended its 1st day flat at 16, rallyingfrom an initial trade at 14.50. Late Wed.Planet FitnessPLNTpriced at 16, at the highend of its range. SoulCycle, the high-endindoor cycling chain, filed for an IPO lastweek, looking to raise up to $100 mil.Aimmune TherapeuticsAIMT, which isworking on peanut and other food aller-gies, shotup51%to24.10.

Layoff Plans Hit 4-Year High8 Employers in July unveiled plans toax 105,696 workers, the most sinceSept. 11. But more than half was due toArmytroopandcivilian staff cuts.Week-ly jobless claims rose 3,000 to a still-low270,000. Economists see Fri.s jobs datashowingmodesthiringandasteady5.3%jobless rate.SeeVitalSignsonA2

Mondelez Gets Ackman Heat9 Activist investor Bill Ackmans Per-shing Square took a 7.5% stake inMondelez IntlMDLZ, worth $5.5 bil. Thedisclosure comes as the maker of Oreosandmanyotherpackaged foodshasbeencutting costs as growth slows. Ackmanthinks the stock is undervalued. Hemaypressure Mondelez to shed assets orseek a buyer. Nelson Peltzs Trian Fundholds 3.1% of Mondelez. Shares rose1.2%to46.81afterhitting48.58 intraday.

Fleetmatics Beats, Ups Goals10 The fleet software developer nowsees 15 EPS of $1.35-$1.40, upfrom $1.26-$1.30, and its full-year salestarget$282mil-$284mil. Bothare aboveconsensus. FleetmaticsFLTX Q2 EPS exitems jumped83%to 33cents, beatingby7 cents. Sales rose 24% to $68.6mil, top-ping slightly. After closing off 2%, sharesreversedup6%.

IBDS TOP 10 Media Stocks SlideAs Pay TV NearsDay Of ReckoningViacom Shares Dive 13%

Cable content firms losesubscribers to Netflix,which set a closing high

BY ELA INE LOWINVESTOR'S BUSINESS DAILY

Chicken-and-biscuits chain Bo-jangles flew past second-quar-ter forecasts late Thursday andramped up plans to open morerestaurants.The Southern-inspired eatery,which went public on May 8,also fattenedup its 2015 outlookeven as its company-ownedsame-storesalesmissedviews.BojanglesBOJA now sees 2015revenuecoming inat$483.5mil-lion-$487.5 million, vs. a prioroutlook for $480 million-$487million. The midpoint of thecompanys new guidance ex-ceeds current Street expecta-tions for$484.5million.It sees 2015 adjusted earningsof 75-78 cents a share, far aboveanalyst views for 69 cents, andlowtomid-singledigit system-widecompgrowth.The company also plans toopenmore restaurants this yearthan it had previously stated,guiding for 59-63 openings, upfromaprioroutlookfor50-57.Sharesrallied3.5%afterhours.For Q2, Bojangles adjustedearnings leapt 44% to 23 centsper share, soundly topping fore-casts for 16 cents. Driven bysame-store sales gains and newrestaurant openings, revenueclimbed 13.1% to $120.5 million,squeaking past views for $120.3million.Systemwide same-restaurantsales grew 4.4%, with franchiselocationcompsup5.1%.Compa-

ny-owned comps increased3.3%, modestly below Streetviewsfor4%,notedStephensan-alystWillSlabaugh.In its first report as a publiccompany,WingstopWING said thatits total revenue grew 18% to$19.2 million, pulling ahead ofconsensus views for $18.4 mil-lion.Adjustedearningsrose 10%to11centspershare,whilenetin-come tumbled 80% to 2 cents ashare, according to the compa-ny. Analysts had expected EPSof9cents.Systemwide domestic same-restaurant sales surged9%.Wingstop guided 2015 reve-nueto$75.5million-$76million,aboveconsensusviews for$74.6million, and full-year U.S. compgrowthto6.5%-7%.The restaurant chain, whichwent public on June 12 at an ini-tial price of 19, hit ahighof 35.96Monday. But shares fell 2.7% inlate tradingThursday.Both chicken eateries followlast weeks Q2 report fromsports bar chain Buffalo WildWingsBWLD, which beat same-store sales forecasts and said itwould buy out 41 franchisees.Shares shot higher the next day,liftingWingstopsharesaswell.Another poultry-focused eat-ery, El Pollo LocoLOCO, is sched-uled to report Q2 earnings onThursday,Aug. 13.Recent issue Shake ShackSHAKentered the chicken game overthe summer with its own chick-ensandwichcreation, theChick-enShack.Shake Shack discloses Q2 re-sultsafter thecloseonMonday.

ACARGOSHIP passes through the new section of the Suez Canalafter an opening ceremony in Ismailia, Egypt. With much pompandfanfare,EgyptonThursdayunveiledthe$8.5billionextensioninthemiddleofthe120-milecanal.Itwillfacilitatetwo-waytraffic.

Pacific Trade Deal:Its Now Or Never?12 nations must agreein a few weeks to avoid16 U.S. election cycle

THEBIG PICTURECurrent outlook:Under pressureIndexes fall sharplyin big volume. B3

S&P500 INDEX2083.56-16.28 (-0.8%)Back near 200-dayaverage once again

DOWJONES IND.17,419.75-120.72 (-0.7%)Its oil componentsmanage to climb

NYSEVOL. (MIL)4,188+275 (+7.0%)Energy andmetalsamong the gainers

NASDAQ5056.44-83.50 (-1.6%)Closes below its50-daymoving avg.

NASDAQVOL. (MIL)2,237+242 (+12.1%)Security software,biotechs drag index

10-YEAR T-NOTE2.22%-0.05 (-2.2%)Oils tumble tamesinflation outlook

EURO1.0913+0.0015 (+0.1%)Dollar index climbsto four-month high

REUTERSCRB FUT.198.54-1.24 (-0.6%)Goldmanwarns ofextended oil glut

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MEDIA

AMC Networks intl sales fallThe parent of its namesake net-work along with We tv, IFC andthe Sundance channel saidQ2 EPSrose 37% to $1.14, topping esti-mates for 88 cents, on a 15% reve-nue increase to $601.1 mil, aboveconsensus for $588.3 mil. But italso recorded a 9.4% drop in itsintl business, its 1st decline sinceQ1 13. AMC NetworksAMCX sharesfell 4.5% to 75.01, dropping belowits200-dayaverage,afterundercut-ting its 50-day average on Wed.witha7%slide.00 N.Y. TimesNYT earned 13 cents ashareexcluding items inQ2,up85.7%fromayearearlierandbeatingviewsby2cents. Includingitems, thecompanyearned10centsashare.Revenue fell 1.5%to$382.9mil,missingviewsof$383.5mil.Shares fell 3%to12.80.

MACHINERY

3D Systems 3-D printer pains3D SystemsDDD earned 3 cents ashare minus items, down 81.3%fromayearearlierandmissingesti-mates by 6 cents. The full GAAPloss came to $13.7 mil, or 12 centsper share, vs. a $2.1 mil profit or2-cent EPS a year earlier. Revenueof $170.5 mil, up 13% from Q2 14,was slightly below the consensusestimate of $173.2mil. Sales inAsiaPacific fell 9%, but rose 25% in Eu-rope, the Middle East and Africawhile revenue growth held at 15%in the Americas. Shares soared16.2%to13.60.

TO THE POINT

COMPANY INDEX

FEATURE CALENDAR

Egypt opens new Suez CanalPres.AbdelFattahal-Sisi and thou-sands more opened the expansionof the Suez Canal. The 2-year, $9bil projectwidened about 45miles,adding a 2nd lane to one-third ofthe canal and cutting thewait timeto 11 hours from 18. Egypt expectsthat the 49 daily ship passages thatnowgenerate $5.3 bil annuallymayriseto97perdayand$13.2bilannu-ally by 23. The canal opened in1869after 10yearsofbuilding.SAUDI ARABIA: A suicide bombersaid tobeaffiliatedwith theIslamicStatedetonatedhisvest,killing15,mostlypolice, inAbha,near theSaudiborderwithYemen.MALAYSIA Secy of State JohnKerry, inKualaLumpur, said theU.S.wont acceptSouthChinaSearestrictions,accusingChinaofrestrictingnavigationandoverflights in thedisputedarea.

BANKOFENGLANDGov.MarkCarney, right, leaves thebank inLon-donafterannouncinga lowered forecast for inflation in2015.TheBankofEnglandsurprisedmarketsThursdaybytakinganunexpectedlycau-tious stance on raising interest rates from the current record low.

Acuity Brands ................. B5Agrium ......................... B10Allergan ......................... A4Amgen ............................ A4Apogee Enterprises ....... B5Apple .......... A2, A4, A11Avolon Holdings .............. B1Biomed Realty Trust ..... B9Blackstone Group ....... A10Brookfield Asset ......... A10CF Industries ............... B10Caesarstone ................ A10Cal-Maine Foods ............ B4Cognizant Tech .............. B6Constelltn Brands ........... B1Costco Wholesale .......... A9DBV Technologies. ......... A9Deckers Outdoor ........... B4Digital Realty Trust ....... B9Epam Systems .............. B6Facebook ............. A2, A11Fitbit ............................... A4Ford Motor ............. A1, A4General Motors ............. A4Goldman Sachs ........... B14HCA Holdings ................. A5Home Depot ................. A10J2 Global ......................... B1Jazz Pharmaceuticals .... B1JPMorgan Chase .......... A10

Kellogg .......................... A4L Brands ......................... A9Lowes ......................... A10Masco ........................... A10Medical Properties ........ B9Mobileye. ............... A1, A4Mohawk Industries .... A10Nasdaq Omx Group ........ B1Netflix ............ A1, A2, A4Nike ...................... A5, A9PGT .................................. B5Palo Alto Networks ....... A5Papa Johns .................... B3Qorvo ............................. B3Sabra Healthcare REIT .. B9Skechers USA ................ A9Tableau Software .......... B3Target ............................ A9Terra Nitrogen .............. B10Tesla Motors .......... A1, A4Teva Pharmaceutical .... A4Tyler Technologies ........ B6Ulta Beauty ..................... B4Ventas ........................... B9VirtUSA .......................... B6Volkswagen ................... A4Wal-Mart ....................... A9Walt Disney ... A1, A4, A5Yara International ....... B10Zebra Tech ...................... B1Zoetis .............................. A5

CONTENTS

ECONOMY

NATION

CA CH OH FL GA TX NJ VA SF WA IA CO

Exercise know-how low in U.S.Only about 1 in 3Americans knowsthat for every pound of fat theywant to shed, theyll need to workoff 3,500 calories, says a new sur-vey from Bowflex maker Nautilus,which quizzed people about theirfitness knowledge online. It alsofound that three-quarters of re-spondents didnt know the recom-mended daily sugar intake limitsfor adults (25g), and 61% didntknowthat eggsare indeedaheart-healthy protein. The average quiztakeronly scored42%.

Giant research pool in worksA giant pool, about 164 feet longand164 feetdeepmayaidscientificresearch. The Univ. of Essex is inthe early planning stages for whatit sayswould be theworlds largestresearch, training and develop-ment pool at its Colchester cam-pus. The Blue Abyss project hasalready enlisted architects, projectmanagerandcivil engineers for thepool, which would be used by re-searchers to simulate outer spaceand deep sea conditions. No wordon whether swimmers would gettouse itonweekends.

00 Some hearing-impaired peopledontbenefit fromhearingaidsandtraditional implants.ButanNYUstudy indicates thatahybridcoch-lear implantmaydothe job.Thehybrid implanthasashorterelec-trodethantraditional ones.Whenplacedcorrectly, it enablesmorenatural low-frequencyhearingandaugmentshigh frequenciesviaelectrical stimulation.00 Sports helmets today can trackhits to thehead in football andothercontact sports.Anewtypeofheadgearcalledacoolinghood,developedbyOlympicdecathleteAshtonEatonandNikeSportsResearchLab,mayshortenath-letes recovery timeandboost theirperformance.Thehoodhasagridofmetal filledwith ice toaid incooling theheadandface.00 Riding a bike drunk can be justasdangerousasdrivingacardrunk,but thenewAlcoho-Lockrequires riders toblowcleanbe-fore the lockwill disengage.The$250lockwill alsosendamessagetoa friends smartphoneto let thefriendknowthatyouneedaridehomeorhelpunlockingthebike.The lockdoesneed tobecharged;it canperform40blood-alcohol-level testsona singlecharge.

WORLD

AFTER THE CLOSE

APPAREL

Kors returns to winning waysShares of luxury apparel makerMichael KorsKORS shot up 10.8% to43.77 after it posted a strong fiscalQ1 earnings beat, reversing from amiss the prior quarter that broke astring of better-than-expectedquarterly profit gains. Kors report-ed a 4.4% decline in EPS to 87cents, 12 cents above views. Reve-nue grew 3.1% to $947.3mil, aboveviews for $944 mil. The companysees Q3 revenue of $1.06 bil-$1.08bil, crushing views of $1.1 bil. It ex-pects full-year EPSof $4.40-$4.50,wellabove forecastsof$4.25.

INTERNET

Ads aid Facebooks InstagramTheFacebookFB-ownedphotoshar-ing site Instagram will post $600mil in revenue this year as the sitecarriesmore ads, according to a re-port by research group eMarketer.Furthermore, ad revenue willreach $2.81 bil in 17, thanks to anew direct-response button andFacebook-style targeting capabili-ties, eMarketer said. Facebook,which paid $715 mil for Instagramin 12, didnt introduce ads untillate 13. The report said that Insta-gram must gracefully evolve andavoid floodinguserswith toomanyads they have no interest in seeing.Facebookshares fell 1.4%to95.12.

IN BRIEFAppleAAPL has signed up 11mil trialsubscribers for itsAppleMusicservice justoveramonthafterlaunch, thecompanysaid. Werethrilledwith thenumbersso far,saidEddyCue,Apples seniorVPofInternet softwareandservices,adding that2milusershaveoptedfor themore lucrative familyplan,whichcosts$14.99amonth forupto6people.Appleshares rose0.2%to115.13.

Molson Coors BrewingTAP earned$1.41ashare inQ2,down10.2%fromayearearlierandbeatingviewsby9cents.Revenue fell15.4%to$1.006bil,missingviewsof$1.009bil.Higherpricesandincreaseddemandfor thebrewershigher-endbrandsboostedprofits.Sharesrose4.8%to73.76.

SunEdisonSUNE recorded 93 centsinper-share losses inQ2, farbelowanalystsviews fora55-centper-share loss.Revenueof$455miltoppedviews for$400mil. Sharesplunged25.3%to17.08.

Melco Crown EntertainmentMPELearned8cents ashare inQ2,down73.3%fromayearearlierandmiss-ingviewsbyapenny.Revenue fell23.5%to$916.8mil,missingviewsof$972.3mil.Aquarterlydividendof$0.0134per sharewasdeclared.Sharesrose3.8%to22.32.

TELECOM

Hulu partners not seen selling21st Century FoxFOXA may want tobuy full control of video streamerHulubutitspartnersWaltDisneyDIS and ComcastCMCSA are unlikely towant to sell. So wrote Stifel Nico-lausanalystBenjaminMogil,whosereportsaidthatthe2aremoreinter-ested in content investments tospursubscribergrowthsoastocom-petebetterwithNetflixNFLX. Foxwasamongmedia stocks hit byDisneyscomments lateTue. on cableTV in-dustry trends. Fox shares fell 6.4%to 29.87. Disney fell 1.8% to 108.55.Comcastfell1.8%to58.76.00 EchoStarSATS earned 43 cents ashare inQ2excluding items,up19.4%fromayearearlierandbeatingviewsby5cents. Includingcosts, it earned36centsa share.Revenuefell 9.8%to$793.6mil,missingviewsof$797.3mil. Sharesfell0.3%to47.04.

SOFTWARE

Hortonworks hits new highDatabase management softwaremakerHortonworksHDP shares shotup Thu., touching a new intradayhigh a day after it easily toppedWall Street Q2 estimates. LateWed., it also raised its Q3 and full-year sales forecasts. Hortonworksis the 1st publicly traded developerof Hadoop, an open-source soft-waredesignedtogive smallercom-panies access to high-end databas-es. RBC Capital Markets andWunderlich Securities both raisedtheirpricetargets to36from32,cit-ing growth prospects. Horton-works leapt 13.1%to27.31.

Amex Tables ...................... A6Big Picture ......................... B3Block Trades ...................... B11Commodity Futures ......... B14Company Index ................. A2Credit Market ................... B15Dividends News ................ B12Earnings News ................. B12Economic News .................. A2Editorials ........................... A14Exchange Traded Funds ..A13General Market ................... B2IBD Sector Leaders ............... B1Income Investor ................. B9Inside Real Estate ........... A10Internet & Technology ....... A4Investor's Corner ................ B4Issues & Insights ............. A14Leaders & Success ............. A3Leading Market Indexes ..... B8

Low Price Stocks ............. A16Mutual Funds & ETFs ........ A11New America ...................... A9New Highs & Lows ............. B1New Highs List Analysis ...... B1New Issues ......................... A9Option Tables ................... B16REITs ................................ A16Research Tables .................. B3Stock Spotlight .................. B5Timesaver Tables ................ B7To The Point ...................... A2Top Sector Stocks .............. B8Volume Changes ................ B11World News Briefs ............. A2World Stocks .................... B10Your Weekly Review ......... A5

ADVERTISINGReal Estate Marketplace .A10

More Data On Investors.comDue to space constraints, somedata occasionally dont appear inthe print edition, but they can befound online at Investors.com. Goto http://news.investors.com/otheribddata.aspx.

Distressed home sales fallingReal estate-owned (REO) andshort sales accounted for 9.9% oftotal home sales in May, down 2.8percentage points fromMay 14. Itwas the lowest distressed salesshare for May since 07. Mich. hadthe highest share of distressedsales at 21.4%, followed by Fla.s21.3%,Md.s 20.3%and Ill.s 19.4%.Nev.s distressed share tumbled 7percentagepoints.

Consumer discomfort growsThe Bloomberg Consumer Com-fort Index fell for a 5th straightweek, dipping 0.2 point in theweek ended Aug. 2 to 40.3. Its the2ndworstreadingsinceNov.Amer-icans views of their finances fell tothelowestsinceOct.,while thebuy-ingclimatehit a 7-week low.00 The IBD/TIPP EconomicOpti-mismIndex, releasedTue., fell tothe lowest readingsince lastNov.,with the6-MonthOutlookIndexsliding toa 1-year low.00 The 30-year mortgagewith afixedrate fell 7basispoints to3.91%for theweekendedAug.6,downfrom4.14%ayearago,Fred-dieMacsaid.

U.K. housing, industry retreatU.K. home prices fell 0.6% in July,according to the Halifax HousePrice Index, following a 1.6% ad-vance inJune.Economists forecasta 0.5% gain. Year over year, homevalues rose 7.9%, down from 9.6%in July. Separately, June industrialproduction fell 0.4%vs. views for a0.1%monthlydip.Butmanufactur-ingoutput rose0.2%.

BofE cuts inflation forecastBank of England policymakerskept its key interest rate at 0.5%and its asset buying program un-changed. But one member backs aratehike.Also, the central bankcutits 15 inflation forecast to 0.3%fromitsMaypredictionof0.6%.00 Japans leading index rose 1point inJune to107.2, better thanthe106.9readingexpected.00 Australia added 38,500 jobsinJuly,muchbetter than the10,000 jobsexpected.The joblessratepoppedto6.3%from6.1%,defying forecasts foradip to6%.But it likely reflected labor forceparticipationclimbing to65.1%from64.8%.00 Eurozone retail activity pickedup.AretailPMI jumpedto54.2 inJuly from50.4.00 Germany factory orders rose2%inJuneafterMays0.3%drop.Economistsexpecteda0.2%gain.

COMING UP FRIDAY00 Employment report for July,8:30a.m.ET(forecast:nonfarmpayrollsup212,000; jobless rateunchangedat5.3%;hourlyearn-ingsup0.2%).00 Consumer credit for June, 3p.m.ET(forecast:$17.4bil).

Big Cap 20 ............................................. TuesdayEarnings Calendar .................................. MondayIBD 50 ................................ Monday, WednesdayIndustry Snapshot ................................. MondayInside Real Estate ...................................... FridayIPO Leaders ............................ Tuesday, ThursdayFunds & Personal Finance ..................... MondayManaging For Success .......................... MondayNew America Archive ............................... FridayTop/Bottom 200 Composite Stocks ...... ThursdayWeekly Top 10 ....................................... MondayWeekly Stocks On theMove .................. MondayYourWeekly Review ................................ Friday

Dems schedule just 6 debatesRivals to Hillary Clinton for theirpartys presidential nod accusedthe party leadership of limiting theschedule to benefit Clinton, thefront-runner. The DNC released aschedule of 6 debates, with 4 be-fore voting starts in Iowa on Feb. 1.Therewere 13debates in 04and16in 08, ex-Maryland Gov. MartinOMalleypointedout.00 Senate Majority LeaderMitchMcConnellurgedfellowRepubli-cansnot to riskagovt shutdownbyusingaspendingbill as leveragetodefundPlannedParenthood.Hewarnedthatpreviousshutdownshadfailed tobuild support for theissuetheGOPwaspursuing.00 NYCs death toll fromLegion-nairesdisease rose to10.Morethan100havebeen infected.Thecityorderedallbuildingswithcooling towers tohave themtestedwithin2weeks.

TRENDS & INNOVATIONS

Announced plans for layoffs, in thousands

Employers announced plans to ax more than 100,000 jobs, the most since Sept. 2011. But more than half stem from U.S. Army cuts. Initial jobless claims remain near long-time lows. Economists expect Fri.s July jobs report to show modest hiring with unemployment steady at 5.3%.Sources: Challenger, Gray & Christmas; Labor Dept.; Datastream

Layoff Plans Spike, Jobless Claims TameVITAL SIGNS Initial jobless claims, in thousands Jobless rate

0

30

60

90

120

JJMAMFJ 15DNOSA 14250

350

450

550

650

13 15110907

July:105,696

Week endedAug. 5:270,000

4

6

8

10%

151413121110090807

July:5.3%

STAMPS.COMSTMP said Q2 EPSrose76%to97cents, beatingby26cents. It sees full-yearEPSof$3.10-$3.50vs.views for$2.98.Sharesshotup17%to77.30.

NVIDIASNVDAQ2 adjusted EPSfell 23%to17cents, topping.Revenueclimbed5%to$1.15bil,beating.ForQ3, thechipmakerseesrevenueof$1.18bil vs.viewsfor$1.1bil. Shares leapt9.3%to22.35.

NUANCE COMMUNICATIONSNUANsaidQ3EPSex itemsrose19%to32cents, beatingby3cents.Thevoice-recognitionsoftwaremakerseesQ4revenuebelowviews.Shares fell 1.7%to17.65.

BUSINESS BRIEFS

Investors Business Daily (ISSN 1061-2890) is publishedMonday-Friday, except legal holidays and Good Friday. Pe-riodicals postage paid at Los Angeles, CA and other mail-ing offices. U.S. subscription rate (postage paid): 2 year$549, 1 year $329, 6 month $205, plus any sales tax. For-eign rates on request. READERS: To subscribe or obtaindelivery or other information, contact 800-831-2525(310-448-6600 outside U.S.) or www.investors.com. AD-VERTISERS: All advertising published in Investors Busi-ness Daily is subject to the applicable rate card, availableat 310-448-6700. REPRINTS: For reprints, please go toIBDreprints.com. POSTMASTER: Send address changesto Investors Business Daily, P.O. Box 92089, Los Ange-les, CA 90009-2089.All reproduction rights reserved. Investors Business Daily,IBD, CAN SLIM and corresponding logos are owned byData Analysis Inc., an affiliate of Investors Business Daily.Portions of the data herein are licensed from WilliamONeil + Co. Inc.

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A2 FRIDAY, AUGUST 7, 2015 INVESTORS.COM

4 NEVER STOP LEARNING:Goback to school or read books. Gettraining and acquire skills.

6 LEARN TO ANALYZE DETAILS:Get all the facts, all the input.Learn from yourmistakes.5 BE PERSISTENT AND WORK HARD: Success is amarathon, not asprint. Never give up.

Jagger On RelevanceThe past is a great place and I dont want to erase it or to regret it, but I dont want to be its prisoner either.Mick Jagger, rock star

Jarreau On GratitudeBefore I get out of bed, I am saying thank you. I know how important it is to be thankful.Al Jarreau, jazz singer

Jackley On ConcentrationAs all entrepreneurs know, you live and die by your ability to prioritize. You must focus on the most important, missioncritical tasks each day and night, and then share, delegate, delay or skip the rest.Jessica Jackley, executive

WISDOM TO LIVE BY

Jaworski On MindsetPositive thinking is the key to success in business, education, pro football, anything that you can mention. I go out there thinking that Im going to complete every pass.Ron Jaworski, football player

-

B Y S C O T T S . S M I T HFOR INVESTOR'S BUSINESS DAILY

Pat Boone is finding it hard to slowdown at 81 after six decades inshowbiz.He capped his career sales of 45millionalbumswith theannounce-ment that last years Legacywouldbehis finalalbumwithorigi-nal songs.But the Christian entertainerfinds temptation everywhere, likebeingable toreleaseaudioouttakesfrom theTV show thatmade him ahouseholdname inhisearly20s.The new Duets features pair-ings with long-ago guests such asEllaFitzgerald,AndyWilliamsandNatKingCole.As if thatwerent enough,Boone:

00 Just finished parts in two films.00Has had a weekly contempo-rary gospel music radio programfor30years.00 Is considering dozens of re-quests toperform.00 Is in discussions about hosting aTVvariety series.00 Pitched a car that runs on com-pressedair, andwhenABCshit in-vestment show Shark Tank ac-cepted it, he had the biggest on-airdeal in itshistory.I really do want to spend moretimewithmywife, Shirley, andweare very active in philanthropy,Boone told IBD by phone from hishome in Beverly Hills, Calif. ButGod blessed me with an insatiablycurious mind, and Ive always hada lotonmyplate.

Rise In The SouthBoone (the great-great-great-great grandson of pioneer Daniel)was born in Jacksonville, Fla., andwhen he was 2 his parents movedtoNashville,Tenn.He began singing in church, butwas drawn to pop music and by 12was performing all over the cityandonlocal radioandTV.During his junior year of highschool, he suddenly developed aninterest in country music whenShirley, the daughter of singer RedFoley, transferred tohis school.Patwassoenthralledwithher,hewrote his first country song andeven thoughShirleys dad turned itdown,Boone turned it intoahit.At18,Boonewonahighschool tal-ent contest, which earned him anaudition in New York City for TedMacks TV show, The OriginalAmateurHour.He won that competition threeweeks in a row, then beat out pro-fessionals on another popular TVprogram,ArthurGodfreysTalentScouts.Evenso,Boonedidnt thinka full-time entertainment career was agood bet, so he planned to becomeahighschoolEnglish teacher.Shortly after turning 19, he mar-ried Shirley and over the next fiveyears theywould have four daugh-ters.By the timehegraduated fromColumbia University magna cumlaude in 1958, he was already a ce-lebrity, so the plans to teach wereshelved.By 1955, he was so hot that ElvisPresley opened for him one nightinCleveland. LittleRichard credit-ed Boone with introducing rock towhite audiences with the cover ofTuttiFrutti.Boonewould have 38Top40 andsix No. 1 hits and still holds therecordforhavingat leastonesingleon the Billboardpop charts for 220consecutiveweeks.On Billboards ranking of all Top40 artists of the rock era from 1955to 1995, Boone stands No. 9, rightbehind the Rolling Stones and justaheadof theBeachBoys.With his movies Bernardineand April Love becoming hits in1957, he was voted the third mostpopular star in America, accordingtoapollofmovieexhibitors.The same year, with Boone just23, ABC gave himhis ownTVvari-ety series, The Pat Boone ChevyShowroom, which was a hitthroughthe1960season.Boonewas simply on a fast track,appearing in 18 other films, includ-ing the hits Mardi Gras, Jour-ney to theCenter of the Earth andStateFair.Last year I was on the set of

BoonvilleRedemption, nothing todowith my name, which is a faith-based film, a market that is doingverywell, said Boone. I also havea part in the sequel to the very suc-cessful Gods Not Dead, whichwillbe releasednextyear.A longtime conservative activist,BoonecampaignedforRonaldRea-gan forCalifornia governor in 1966and1970,andhappenedtocallRea-gan just as he won the presidencyin 1980. That made Boone the firsttocongratulatehim.In 2011 he received a lifetimeachievement award from the Con-servative Political Action Confer-ence. He has continued to writeabout social and political issues onhis blog at PatBoone.com and forWorldNetDailyandNewsmax.Boone admits his own family lifehasnt alwaysbeensmooth. In 1968hewas sowrappedup in his careerthatwhilehe,hiswife andchildrenattended church, they endured alot of friction. Through prayer andstudy,PatandShirleyhadaspiritu-al awakening, recounted in the1989memoir ANewSong.Meanwhile, someofhisof invest-ments ranging from electric carsand franchise restaurants to soy-based food and sports franchiseswent south. Evenwith all the pre-cautions of my advisors, therewerea lotof fizzles,he said.

Healthy PathHe credits taking care of hishealth, since the body is the tem-ple of God, the Bible says, withhelpinghimhave the energy to doso much. His faith ultimately re-ducesstress.From 1974 to 1977, Boone was onMotowns countrymusic label andhis family often performed togeth-er. On her own, daughter Debbywon the Grammy Award for Songof the Year for 1977s You LightUpMyLife.Boones sense of humor came tothe fore in 1997with his hard-rockalbum,InaMetalMood:NoMoreMr. Nice Guy, with big band ar-rangementsofgenreclassics.Thenhe appeared in leatherwithfaketattoosonstagewithAliceCoo-per at the AmericanMusic Awardsto present that years trophy in thehard rock-heavy metal category. AChristian network, convinced hedgone to the dark side, firedhim, butwas eventually persuaded he wasjust pushing creative boundaries

andhaving funwiththenewlook.For the 2002-05 MTV reality se-ries TheOsbournes, Pats formerneighbor Ozzy Osbourne chose ashis theme song a version of CrazyTrainthatrecalledBoonesswing-ingcover.In 2003, the Nashville GospelMusicAssociation inductedBooneinto its Hall of Fame, and threeyears later he returned to his rootswithPatBooneR&BClassics.Also in 2006, he wrote the coffeetablevolumePatBoonesAmerica A Pop Culture Treasury of thePast 50 Years, with 200 rare pho-tos.

Solid PartnerIve known Pat for 22 years andhes been our spokesman based ona handshake, not a written con-tract, said Craig Smith, founderand chairman of Swiss AmericaTrading, a gold and silver coin in-vestment firm in Phoenix. Hesthemost decent andhonest personIveevermet. I knowhesounds toogoodtobetrue!Boonehashisownlabels,Lamb&Lion Records, with contemporaryChristian groups, and Gold LabelArtists, which features rock andpop bands/singers Sha Na Na, theVentures, Glen Campbell and JackJones.Then theres the Air Car, whichhe presented on an episode ofSharkTank taped lastNovemberand broadcast inMay. RobertHer-javec offered $5million for 50% ofthefirstU.S.plantmakingthecom-pressed-air-runvehicle.Unfortunately, there was somemiscommunication with Robertsteamabout the termsof thedeal af-terward, so Ive never received acall from him, said Boone. ButZero Pollution Motors, which iswheremy investment is,hasotherswho are interested. The Indianauto giant Tata MotorsTTM hassigned to produce it in China andthere are negotiations for the tech-nology in Britain, Australia andJapan.If the revolutionary car doesntroll out of a factory here, not toworry. Boone has done a U-turnfromthosemoney troublesofyearsago while building a net worth ofover$60million.Pat and Shirley spend much oftheir timeonphilanthropy, includ-ing a project in Tanzania to bringcleanwater, medical care and edu-cation to rural tribes. In 2006 theydonated $3 million to endow theCenter for the Family, whose advi-sory board Pat chairs, at Pepper-dineUniversity inMalibu,Calif.It has developed curricula toteachhowtobuildhealthy relation-ships, and the classes are jammed,he said. Theres interest from col-leges all over the world because nooneelse is doing this andwerenowgetting testimonials from studentswhohavebenefited.Weresohappyto be able to usewhatwehave beenblessedwithtoblessothers.

7 FOCUS YOUR TIME AND MONEY:Dont let other people orthings distract you.

2 DECIDE UPON YOUR TRUE DREAMS AND GOALS:Writedown your specific goals and develop a plan to reach them.

LEADERS & SUCCESS

5A bad temperament isworkplace poison. How acompassionate conversa-tioncancure:00 Face the fury. A nega-

tive attitude beat laziness in a sur-veyofdetrimental employeetraits.Released by leadership develop-ment and training firm Fierce, thesurvey found 41% of respondentsranked negativity No. 1 comparedwith 32% who picked passive ag-gressiveness and 6% citing lazi-ness.00 Clean it up. Fierces survey alsofound 80% of respondents believetoxic employees are extremely de-bilitatingto teammorale.An equal percentage felt compa-niesaresomewhatorextremelytol-erantof troubleworkers.Thatswhat happens sometimeswithemployers.Theylosetheabili-ty to detect toxicity, said SusanScott,CEOofFierce.00 Go the distance. Letting work-er negativity slide weakens the in-ternal teams that companies needtocompetewithcompetitors.They are not able to defendthemselves when things gettough,Scott toldIBD.00 Speak softly. Turning a prob-lemworkeraroundrequiresacare-fulconversation.Start with: I want to talk to youabout the effect X is having on Y,Scott said, and fill in those blanks.You need to give one or two abso-lutely specificexamples.00Carry big impact.Tell thework-erwhats at stake, for the companyand for her career. Maybe bad be-havior is damaging sales numbers,and that staffers job is indanger.Wehavetobewilling to firepeo-ple,Scott said.Leavethat asa last resort.Say: I really want to resolve thiswithyou.Thenaskwhat ishappen-ing from the employees perspec-tive,Scott said.00 Shut your mouth. Be quiet andlet theemployeerespond.Ifheprotestswithexcuses, reiter-

ateyourposition.Scottsapproach:This has been a pattern withyou. If this continues and nothingchanges, here is what I think isgoing tohappen.00 Pass the ball. Give that workerthe power to take a positive stride,advises Scott. Say: What do youseeas themost importantnext stepto take?00 Try their shoes. Executiveswith problem behavior are oftenstruggling personally and thatstrife shows up in their profession-alperformance.Its pretty safe to say they didntplan that career-limiting move,said Andrea Lee, author of WeNeedtoTalk.Her advice tomanagers is an em-pathetic but investigative ap-proach: You seem really angry. Isthere something else going on thatwedontknowabout?00 Disarm defenses. Sometimesyoull get to the issuequickly.Dontbe surprised if that employeestrikesbackverbally, andangrily.Be ready with a diffusing state-ment: Please! I need to ask you tocomeback to the conversation. Imtrying to understand you and Icantmakesenseof it,Leesaid.00 Stick to strategy. Try to returnto a productive tone. Lee recom-mendsa three-stepprocess:Establish where the employee isnow, where she needs to be andhowtoget there.Thats the Swiss army knife ofdifficult conversations,Leesaid.00 Have an exit.When a talk isntgoing well, you can feel trapped,like thewords are nailing your feetto the floor,Leesaid.Be ready with a closing state-ment.Lee likes:Im finding this very difficult tofollow, but I would like to offer asuggestion. Lets call it a day today,and you can take some time towritedownyourconcerns. Idreal-ly like to understand them well,and thatmight be a goodway to tryit.SonjaCarberry

9 DEAL AND COMMUNICATE WITH PEOPLE EFFECTIVELY:Noperson is an island. Learn to understand andmotivate others.

IBDS 10 SECRETS TO SUCCESSInvestors Business Daily has spent years analyzing leaders and suc-cessful people in all walks of life. Most have 10 traits that, whencombined, can turn dreams into reality. Each day, we highlight one.

3 TAKE ACTION:Goals are nothingwithout action. Dont beafraid to get started. Just do it.

8 DONT BE AFRAID TO INNOVATE; BE DIFFERENT: Followingthe herd is a sureway tomediocrity.

2015 Investors Business Daily, Inc. Investors Business Daily, IBD, CAN SLIM and corresponding logos are registered trademarks owned by Investors Business Daily, Inc.

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Pat Boone, A Smash HitWith Records And FilmsKeep Spinning: The stars still turning them out at age 81

1 HOW YOU THINK IS EVERYTHING:Always be positive. Thinksuccess, not failure. Beware of a negative environment.

10 BE HONEST AND DEPENDABLE; TAKE RESPONSIBILITY:Otherwise, Nos. 1-9wont matter.BE PERSISTENT AND WORK HARD

Take On Troublemakers

Pat Boone amid hysteria in 1956 in Akron, Ohio, while just starting hisrunofsixNo.1songsandthehitmoviesBernardineandAprilLove.

Boones Keys00 One of the all-time popand gospel singers.00 Overcame: Changes inaudience taste.00 Lesson: For a long run,stick to your core values.00 I never bought into theidea that entertainers owenothing to their audienceexcept a good perfor-mance.

INVESTOR'S BUSINESS DAILY FRIDAY, AUGUST 7, 2015 A 3

Allergans Sale Of Its Generics BusinessClouds Its Guidance Next Few QuartersNo Outlook Until September

Drugmakers commentspoint away from any dealfor Amgen, as Q2 beats

INTERNET & TECHNOLOGY

B Y P A T R I C K S E I T ZINVESTOR'S BUSINESS DAILY

Fitbit coulduseaspotter.The maker of wearable activitytrackers saw its shares tumbleThursday, a day after the companyreported a second-quarter earn-ingsbeat thatpromptedseveral an-alysts to raise theirprice targets.FitbitFIT stock plummeted 13.6%Thursday to 44.60. This comesafter shares hit a record high of51.90 onWednesday, ahead of Fit-bits first quarterly report as a pub-licly traded company.Fitbit went public on June 18 at20.A decline in the companys grossprofit margin to 47% in the sec-ond quarter from 52% in the year-earlier quarter spooked inves-tors.The gross margin decline is asticking point in whats otherwisea strong beat-and-raise quarter,RBCCapitalMarkets analystMarkSue said in a research reportWednesday.Foreign currency exchange im-pact accounted for about a third ofthe decline, with upfront costs forincreased production capacity andamix shift to newerproductsmak-ingup therest.Cost optimization, supply-chainimprovements and scale shouldhelp gross margins get back closerto50%longer term,Suesaid.Sue raised his price target on Fit-bit stock to53 from45andreiterat-edhisoutperformrating.Piper Jaffray analyst Erinn Mur-physaid that themarketoverreact-ed to Fitbits gross margin decline.Sheraisedherprice targetonFitbitto 60 from 52 and maintained heroverweight rating.TheSanFrancisco-based compa-ny earned 21 cents a share exclud-ing items on sales of $400 million.Analysts polled by Thomson Reu-ters expected Fitbit to earn just 8cents a share on sales of $319 mil-

lion. On a year-over-year basis,EPS rose 133% and sales jumped253%. Fitbit also guided analystshigher for the current quarter andfull year.

A Growth MarketIts early days in a growingmar-ket, Sue said. Fitbits focused onlong-term execution, innovationand investing in the business in amethodicalmanner.Fitbit is working on improve-ments to its software and servicesplatform to increase user engage-ment.Italso is spendingonaglobalmul-timedia campaign to drive globalawareness of its products andbrand ahead of the holiday shop-pingseason.To increase brand awareness lastquarter, Fitbit collaborated withKelloggK cereals, ESPN and theCBSCBS showTheAmazingRace.Fitbit sold 4.5 million devices inQ2, which was above the consen-sus estimate of 3.9million,WilliamBlair analyst Ralph Schackart saidin a report Wednesday. Average

selling price was $88, which washigher than the consensus view of$82,hesaid.Fitbit competes with fitnessbands from GarminGRMN, Jawbone,MicrosoftMSFT and others. Smart-watches made by companies suchasAppleAAPLalsooffer fitness-track-ingfeatures.Fitbit has not seen any negativeimpact from the launch of theAppleWatch,FitbitCFOBillZerel-la toldIBD.Our view is that were targetinga different customer, Zerella said.Apple is selling a general-purposesmartwatch with fitness features,and we are health and fitness fo-cused.ButApple likely increasedaware-ness for fitness wearables by tout-ing those features of its smart-watch,Zerella said.Also, Fitbit sells a range of prod-ucts costing $60 to $250, he said.TheAppleWatchstartsat$349.Fitbits biggest challenge hasbeen meeting demand for its fit-ness bands, Zerella said. Last quar-ter,Fitbit rampedupproductionca-

pacity for the Charge HR fitnessband, which has been supply con-strained,he said.Our biggest hurdles have beenfiguring out how to meet the de-mand, which is a good problem tohave, Zerella said. For the firsttime,we are in a position across allof our products to meet demand.And thats never been the case be-fore.

Sportswear In The MixAlso interested in the digital fit-nessmarketaresportswearcompa-nies like Adidas, NikeNKE andUnderArmourUA.Germanys Adidas on Wednes-day agreed to pay $239 million forRuntastic, an Austrian fitness appmaker. Runtastic has 70 millionusers.Meanwhile, Under Armour hasinvested $710 million in its Con-nected Fitness platform, the WallStreetJournal reported.Theplatformincludes its acquisi-tionsofhealthandfitnessappcom-panies MapMyFitness, Endomon-doandMyFitnessPal.

Fitbit Price Targets Hiked As Stock TumblesQ2 Gross Profit Margin Down

CFO says Apple Watchincreased awareness forfitness wearable sector

B Y B R I A N D E A G O NINVESTOR'S BUSINESS DAILY

Mobileye, a leading provider ofdriver-assistance technology thatcouldhelp lead to self-driving cars,topped expectations with its sec-ond-quarter earnings Thursdayandraised its full-yearguidance.Before the market open, Mobi-leyeMBLY reported revenue of $52.8million, beating Wall Streets con-sensus estimate of $47.9million. Itwas up 57% from the year-earlierquarter and ahead of 28% and 26%year-over-yeargains thetwoprevi-ousquarters.TheIsrael-basedfirmsaid that itsearnings per share minus itemsdoubled to 10 cents, beating theconsensus estimate of 8 cents.Mo-bileye raised its full-yearEPSguid-ance to a range of 44 cents to 45cents, up from 39 cents,which alsowas the consensus estimate of ana-lystspolledbyThomsonReuters.Thecompanyraised its2015reve-nue guidance to $235million-$239million, up65%at themidpoint, vs.its prior guidance of $217 mil-lion-$218million.Mobileye stock, down nearly 9%early Thursday, ended the daydownafraction, at59.11. Sharesareup 46% this year and touched arecordhighof63.17onJuly21.The company raised $890 mil-lion inanAugust2014 initialpublicoffering, pricing shares at 25.Mobileye designs and developssoftware,chipsandrelatedtechnol-ogies for camera-based advanceddriver-assistance systems (ADAS).ItssoftwareandEyeQsystem-on-a-chiparedesignedtoanticipatepos-sible collisions with vehicles, pe-destrians, cyclists, animals, debrisand other obstacles. Its technologyalso detects roadway markings,traffic signsandtraffic lights.Mobileyes technology is used incars made by TeslaTSLA, Ford Mo-torF, BMW, General MotorsGMandHondaHMC, amongothers.MobileyeCEOZivAviram, in thecompanys earnings conferencecall, confirmed recent media re-ports that GM will add Mobileyetechnologyto itsChevyMalibu.

VW FAST AdditionTheMalibu is just one of a num-ber of new EyeQ3 launches thatcontinue the growing trends ofcamera-only autonomous emer-gency braking, which started lastquarter with Audi Q7, Aviramsaid.Healsosaid, OneofLatinAmeri-cas largest insurance companies,after a successful pilot test lastyear, is now purchasing our after-market solution to offer their fleetcustomers.VolkswagenVLKAY recently addedMobileye to its list of strategic sup-pliers as part of its FutureAutomo-tive Supply Tracks (FAST) initia-tive.That move could pave the wayforMobileye to becomeVWs corevision systems supplier, MorganStanley analyst Ravi Shanker saidina researchreportMonday.Mobileye andDelphiDLPH are theonly ADAS suppliers that are partof VWs FAST initiative, whichwebelieve could put both companiesin pole position to become VWscore ADAS suppliers, he wrote.For Mobileye in particular, thiscould pave theway to visionADASdominance,over time.Mobileye did not give Q3 guid-ance. Consensus calls for revenueof $57.7 million, up 66%, and EPSof10cents,up from5cents.In a researchnote lastweek,RBCCapital Markets analyst JosephSpak raised his price target onMo-bileyeto68from62,withanoutper-form rating, saying, Mobileye is aunique opportunity to invest in acompany that is a leader in a mar-keton thecuspof inflection.Pacific Crest Securities analystBradErickson, in a research reportTuesday, said recent checks indi-cate that active-safety technologyadoption remains relatively low intheU.S.but is rising.

Mobileye SalesAccelerate,Beat Q2 ViewsStock Rebounds After Big Dip

Confirms Chevy Malibuis latest to add companysdriver-assistance products

B Y A M Y R E E V E SINVESTOR'S BUSINESS DAILY

Drug giant and IBD 50 stockAller-ganmodestlybeatanalystsQ2con-sensusThursday,but itputoffguid-ance for another month as it sortsthroughthe impactof recentM&A.AllergansAGN earnings, exclud-ing one-time items, rose 29% fromthe year-earlier quarter to $4.41 ashare, beating analysts consensusby 3 cents, according to ThomsonReuters. Revenue jumped 116% to$5.76 billion, or $5.73 billion ex-cluding divestedWestern Europe-an assets both topping consen-susof$5.71billion.The firm put off updating guid-ance until September, due mostlytolastweeksdeal tosell itsgeneric-drug business to Teva Pharma-ceuticalTEVA for $40.5 billion. Aller-ganstock fell 5.1%Thursday.On Allergans earnings call withanalysts Thursday morning, CFOTessa Hilado warned that model-ing the future will be hard for thenextcoupleofquarters,due largelytoaccounting rules.

Not An Easy SeparationIn September, what we will beproviding you is what the remain-ing business will look like, Hiladosaid. Thats not going to be a veryeasy separation to do . . . . For in-stance, debt will continue to re-main with the Allergan businessandnotwiththediscontinuedoper-ations. Theres no such thing asnon-GAAP discontinued opera-tions.On the other hand, performanceof the lead drugs from the legacy

business of Allergan the corpo-rate name that Actavis adoptedwhen it acquired Allergan inMarchwentonwith littledisrup-tiondespite thatmassivemerger.Sales of wrinkle treatment Botoxgrew 9% year over year despite itslong tenure on the market, whiledermal fillers rose 10% and the Al-phagan/Combigan glaucoma fran-chisegained8%.I highlight this because manylong-term investors had looked atthis quarter as a potential valida-tion of Allergans business model,Evercore ISI analyst Umer Raffatwrote inanemail toclients.

While the Allergan-Actavis com-bination drove the firms triple-digit revenue growth, it alsonotched organic growth. CEOBrenton Saunders noted that 12 ofits top 15 brandedproducts grewatdouble-digit rates, excluding theforeign-exchange impact.Overall pro forma revenue grew12%, excluding the FX impact, di-vestitures and dementia drug Na-menda IR,which recentlywent offpatent.On the call, Raffat asked a ques-tion deriving from last weeks ru-mors that Allerganmight buyAm-genAMGN, which helped driveAmgens stockupevenbefore it re-ported a strong quarter late Thurs-day.Raffat asked if Allergan might beopen to do a transformational dealwith a company growing slowerthan itself, possibly facing head-winds from biosimilar competi-tion.Amgenfits thatdescription.Saunders said that Allergan

would be finewith a company thatwas a bit slower-growing on thetop line if it were accretive to thebottom line, but not as slow as say,3%to4%.This rule would seem to excludeAmgen, whose estimated com-pound annual growth rate over thenext five years is only 3%. (NeitherSaunders nor Raffat mentionedAmgenbyname.)On the other hand, Saunderspointed out, Allergan has beenknown to make deals that let itkeep the assets that it wants whilesheddingthose that itdoesnt.For instance, henoted that2014sbuyoutdeal forFuriexPharmaceu-ticalsactuallymadebySaundersformer company Forest Laborato-ries, which Actavis was acquiringat the time included a plan to di-vestanunwantedassetwhilekeep-ingthepipelinedrugtheywanted.Were pretty bold in our think-ing,hesaid.In response to another question,though, Saunders called it unlikelythatAllergancanmakeanother bigbuyoutbefore theTevadeal closes,which isexpected inQ12016.The generics business mighthaunt Allergan even after that; thefirmrevealed that itsbeensubpoe-naedinaJusticeDepartment inves-tigation ofwhy generic drug priceshave increased so much over thelast fewyears.Thecompanywouldnt commentonthat subject.We imagine Allergan will re-main a transitional company overthe near term, as management islikely already contemplating itsnext strategic move, Morningstaranalyst Michael Waterhousewrote in a research noteThursday.We anticipate organic growthwill remain healthy, led in particu-lar by Allergans ophthalmic, aes-thetic and therapeutic Botox seg-ments.

B Y R E I N H A R D T K R A U S EINVESTOR'S BUSINESS DAILY

Murdoch-controlled 21st CenturyFox might be interested in buyingfull control of video streamerHulu, aNetflix rival, but itsunlike-ly its two partners would sell, saysStifelNicolausResearch.WaltDisneyDISandComcastCMCSAare the two other owners of Hulu,which has beenmaking more con-tent investments to spur subscrib-er growth.On-demandvideo leaderNetflix-

NFLX, though, is much bigger and isexpanding internationally.Many companies are interestedinvideostreamingassets, saysBen-jamin Mogil, an analyst at StifelNicolaus, in a research report. Hesays Disney and Comcast are un-likely to sell Hulu to Fox, which iscontrolledbyRupertMurdochandtheMurdochfamily.FoxFOXA reported Q2 earnings onWednesday andwas amongmediastockshammeredbyDisneyscom-ments lateTuesdayon cableTV in-dustry trends.In the first (Fox earnings) callwith James and LachlanMurdochat the helm, the two reiterated thatthe company is in more of a buildvs. buy mode, basically ruling outanymaterialM&A, seeing fewgap-ing holes in the asset collection,Mogil wrote. While we believethat thecompanywouldbevery in-terested in consolidating Hulu,such a move from the other part-ners seemsunlikely, given the trac-tion the service is having and thefear of not having equity in a viableOTT (over-the-top) or subscrip-tion video-on-demand (SVOD)platform.Hulu has 9 million subscribers.James Murdoch has said Hulucould reach 20 million to 30 mil-lionsubscribersover time.

Were pretty bold in ourthinking.Brenton Saunders,CEO, Allergan

FitbitCEOJamesParkshowsoffoneofhisdevicesoutsidetheNYSEonJune18,thedayofthecompanysIPO.

Of the 127 initial public offerings on U.S. markets thus far this year, the health care sector leads the field with 56, raising $5 billion, followed by the technology and financial sectors at 15 each.

Health Care Dominates IPOsDATA BUS

IPOs by sector Proceeds raised, in billions

Source: Renaissance Capital (renaissancecapital.com)

0

20

40

60

OtherBusiness services

Capital goods/services

EnergyConsumerFinancialTechnologyHealth care0

2

4

$6

OtherBusiness services

Capital goods/services

EnergyConsumerFinancialTechnologyHealth care

Fox Not SeenReaching DealFor All Of Hulu

A4 FRIDAY, AUGUST 7, 2015 INVESTORS.COM

151413121110090807060504030201

IBD Weekly Review 85-85 IndexPerformance of Your Weekly Review stocks, which have EarningsPer Share and Relative Price Strength Ratings of 85 or higher

85-85 Index: 437%S&P 500: 59.3%

Performance 1/1/01 to 7/31/15

85-85 Index

S&P 500

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-50

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450%

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UNIVERSAL HEALTH SVCS B (UHS) Grp 2 o$142.5279.9M Shares 98 Comp. Rating 93 EPS RS 94 ROE 17%OPERATES 24 ACUTE CARE HOSPITALS AND 216 BEHAVIORAL HEALTHCENTERS IN 37 STATES, WASHINGTON, D.C., PUERTO RICO

+17% Ann. EPS Gro PE 22 Avg. Daily Vol 724,000 Debt 86%Last Qtr Eps +19%6 Last Qtr Sales +11%5 Qtrs EPS) 15%

Acc/Dis B-

Just below 144.10 entry after clearing 3-weeks-tight.

REGENERON PHARMACEUTICAL (REGN) Grp 3 o$582.4767.9M Shares 99 Comp. Rating 93 EPS RS 96 ROE 52%DEVELOPS DRUGS TO TREAT EYE DISEASES, INFLAMMATORY DISEASESAND CANCER.

+104% Ann. EPS Gro PE 53 Avg. Daily Vol 743,700 Debt 18%Last Qtr Eps +17%6 Last Qtr Sales +50%3 Qtrs EPS) 15%Eps Due 11/4e

Acc/Dis B+

Extended past 544.10 entry of late-stage base after gap up.

H F F INC CL A (HF) Grp 5 o$40.6234.0M Shares 99 Comp. Rating 99 EPS RS 86 ROE 34%PROVIDES COMMERCIAL REAL ESTATE AND CAPITAL MARKETS SERVIC-ES TO THE U.S. COMMERCIAL REAL ESTATE INDUSTRY

+25% Ann. EPS Gro PE 21 Avg. Daily Vol 245,200 Debt 0%Last Qtr Eps +67%6Last Qtr Sales +32%4 Qtrs EPS) 15%

Acc/Dis B-

Breaks support at 10-week line; 6% below 42.63 buy point.

ZOETIS INC (ZTS) Grp 6 o$48.28495.0M Shares 93 Comp. Rating 87 EPS RS 88 ROE 70%DEVELOPS ANIMAL HEALTH MEDICINES AND VACCINES WITH A FOCUSON LIVESTOCK AND COMPANION ANIMALS.

+25% Ann. EPS Gro PE 29 Avg. D. Vol 3,553,800 Debt 278%Last Qtr Eps +13%5 Last Qtr Sales +1%Eps Due 11/4eR&D 8%

Acc/Dis C

Slides below 50-day line; no proper entry so far.

MONSTER BEVERAGE CORP (MNST) Grp 10 o$144.87165.4M Shares 99 Comp. Rating 93 EPS RS 94 ROE 39%MANUFACTURES ALTERNATIVE BEVERAGES INCLUDING ENERGYDRINKS, FRUIT JUICES, SMOOTHIES AND NATURAL SODAS.

+19% Ann. EPS Gro PE 51 Avg. D. Vol 1,102,600 Debt 0%0 Qtrs EPS) 15%Eps Due 8/7e

Acc/Dis A-

Up 4% past 139.75 cup-with-handle entry.

PINNACLE ENTERTAINMENT (PNK) Grp 12 o$39.0056.3M Shares 97 Comp. Rating 88 EPS RS 96 ROE 35%OWNS AND OPERATES 15 GAMING PROPERTIES IN CO, IN, IA, LA, MO,MS AND NV AND A RACETRACK FACILITY IN OH

+19% Ann. EPS Gro PE 25 Avg. Daily Vol 895,200 Debt 999%0 Qtrs EPS) 15%Eps Due 11/4

Acc/Dis B+Sup/Demand 85

Below 40.52 entry after breakout from flawed consolidation.

JETBLUE AIRWAYS CORP (JBLU) Grp 13 o$23.27307.0M Shares 95 Comp. Rating 98 EPS RS 96 ROE 10%PROVIDES POINT-TO-POINT PASSENGER AIRLINE SERVICE TO 87 CIT-IES IN 27 STATES, PUERTO RICO, VIRGIN ISLANDS

+42% Ann. EPS Gro PE 17 Avg. D. Vol 8,766,600 Debt 78%Last Qtr Eps +132%6 Last Qtr Sales +8%3 Qtrs EPS) 15%Eps Due 10/21

Acc/Dis CSup/Demand 94

Extended past 21.70; 3-weeks-tight shows 24.29 entry.

ACUITY BRANDS INC (AYI) Grp 14 o$205.3242.7M Shares 99 Comp. Rating 97 EPS RS 95 ROE 16%ENGAGED IN THE PRODUCTION OF LIGHTING PRODUCTS FOR THE IN-DUSTRIAL, COMMERCIAL AND RESIDENTIAL MARKETS.

+20% Ann. EPS Gro PE 41 Avg. Daily Vol 425,200 Debt 30%Last Qtr Eps +37%6 Last Qtr Sales +13%4 Qtrs EPS) 15%Eps Due 9/29

Acc/Dis A-

Extended past 172.86 flat base entry.

P G T INC (PGTI) Grp 14 o$14.2542.5M Shares 99 Comp. Rating 91 EPS RS 96 ROE 35%MAKES RESIDENTIAL IMPACT-RESISTANT ALUMINUM AND VINYL WIN-DOWS/DOORS UNDER THE WINGUARD AND OTHER BRAND NAMES.

+157% Ann. EPS Gro PE 28 Avg. D. Vol 438,900 Debt 259%Last Qtr Eps +6%6 Last Qtr Sales +24%0 Qtrs EPS) 15%

Acc/Dis A-

Recovers 10-week line, but deep sell-off scars chart.

ALLERGAN PLC (AGN) Grp 17 o$319.47388.5M Shares 99 Comp. Rating 97 EPS RS 91 ROE 16%DEVELOPS GENERIC AND BRANDED DRUGS FOR HYPERTENSION,SLEEP DISORDER, CONTRACEPTION, PAIN AND OTHERS.

+46% Ann. EPS Gro PE 20 Avg. D. Vol 2,139,800 Debt 52%10 Qtrs EPS) 15%Eps Due 11/5eR&D 8%

Acc/Dis A-

In buy range from 315.10 cup with handle entry.

CHINA BIOLOGIC PRODUCTS (CBPO) Grp 3 o$122.8111.8M Shares 99 Comp. Rating 92 EPS RS 98 ROE 34%CHINESE DEVELOPER OF PLASMA-BASED PHARMACEUTICALS, HUMANALBUMIN AND IMMUNOGLOBULIN PRODUCTS.

+25% Ann. EPS Gro PE 36 Avg. Daily Vol 242,900 Debt 19%Last Qtr Eps +29% Last Qtr Sales +32%7 Qtrs EPS) 15%Eps Due 11/5e

Acc/Dis B+

Clears 121.32 buy point in odd late-stage consolidation.

ACADIA HEALTHCARE INC (ACHC) Grp 4 o$82.8449.4M Shares 99 Comp. Rating 99 EPS RS 95 ROE 12%PROVIDES PSYCHIATRIC SERVICES FOR BEHAVIORAL HEALTH DISOR-DERS THROUGH 78 TREATMENT FACILITIES WITH 5,800 BEDS

+40% Ann. EPS Gro PE 43 Avg. Daily Vol 758,500 Debt 121%Last Qtr Eps +78%5 Last Qtr Sales+112%10 Qtrs EPS) 15%

Acc/Dis B+

Near 81.86 three-weeks-tight entry.

ABBVIE INC (ABBV) Grp 6 o$69.241577M Shares 97 Comp. Rating 88 EPS RS 86 ROE 172%DEVELOPS HUMIRA, OTHER PHARMACEUTICAL, BIOLOGIC TREATMENTSFOR RHEUMATOID ARTHRITIS, PSORIASIS, CROHN'S DISEASE,

+9% Ann. EPS Gro PE 18 Avg. D. Vol 8,995,700 Debt 606%Eps Due 10/29R&D 17%

Acc/Dis B+

In buy range, 4% above 66.76 cup-with-handle buy point.

NETEASE INC ADR (NTES) Grp 9 o$146.0372.0M Shares 99 Comp. Rating 90 EPS RS 95 ROE 22%CHINESE PROVIDER OF AN INTERACTIVE ONLINE GAMING COMMUNI-TY, INTERNET PORTAL AND WIRELESS VALUE-ADDED SERVICES.

+17% Ann. EPS Gro PE 23 Avg. Daily Vol 947,500 Debt 0%Last Qtr Eps +20%5 Last Qtr Sales +55%1 Qtrs EPS) 15%Eps Due 8/12R&D 11% Acc/Dis B

Turns volatile, struggles to hold 10-week line.

PALO ALTO NETWORKS (PANW) Grp 11 o$174.4969.4M Shares 99 Comp. Rating 99 EPS RS 97 ROE 9%PROVIDES NETWORK SECURITY INFRASTRUCTURE PRODUCTS FOR EN-TERPRISES, SERVICE PROVIDERS AND GOVERNMENT ENTITIES.


Acc/Dis C-Sup/Demand 88

Failing in new test of support at the 10-week line.

ALLEGIANT TRAVEL COMPANY (ALGT) Grp 13 o$223.9613.4M Shares 99 Comp. Rating 98 EPS RS 97 ROE 34%PROVIDES POINT-TO-POINT LOW FARE PASSENGER AIRLINE SERVICEFROM 81 SMALL CITIES TO 13 LEISURE DESTINATIONS IN THE U.S.


Acc/Dis A-Sup/Demand 77

In profit-taking zone from 183.61 entry in cup with handle.

RYANAIR HLDGS PLC ADR (RYAAY) Grp 13 o$75.65258.4M Shares 94 Comp. Rating 86 EPS RS 90 ROE 16%IRISH PASSENGER AIRLINE SERVING 1,600 SCHEDULED SHORT-HAUL,POINT-TO-POINT FLIGHTS THROUGHOUT EUROPE, MOROCCO.

+22% Ann. EPS Gro PE 19 Avg. Daily Vol 387,300 Debt 80%0 Qtrs EPS)15%Eps Due 11/3e

Acc/Dis A-

5% past 71.89 cup entry after support at 10-week line.

MASCO CORP (MAS) Grp 14 o$26.44305.9M Shares 96 Comp. Rating 94 EPS RS 90 ROE 47%MANUFACTURES CABINETS, PLUMBING, OTHER PRODUCTS FOR HOMEIMPROVEMENT AND NEW CONSTRUCTION MARKETS.

+74% Ann. EPS Gro PE 24 Avg. D. Vol 4,320,900 Debt 316%Last Qtr Eps +36%5 Last Qtr Sales +3%3 Qtrs EPS) 15%


Extended 10% past 25.04 buy point from flat base.

INTERFACE INC (TILE) Grp 14 o$26.3464.1M Shares 94 Comp. Rating 89 EPS RS 96 ROE 13%MANUFACTURES AND MARKETS MODULAR FLOORCOVERINGS FORCOMMERCIAL, INSTITUTIONAL AND RESIDENTIAL MARKETS


Acc/Dis A-

23% past 21.48 entry of cup-with-handle; profit-taking zone.

ELLIE MAE INC (ELLI) Grp 18 o$79.2627.3M Shares 98 Comp. Rating 99 EPS RS 98 ROE 15%PROVIDES MORTGAGE ORIGINATION SVCS THROUGH A NETWORK CON-NECTING OVER 109,000 PROFESSIONALS AND LENDERS.

+12% Ann. EPS Gro PE 54 Avg. Daily Vol 410,600 Debt 0%Last Qtr Eps +50%6 Last Qtr Sales +65%3 Qtrs EPS) 15%Eps Due 10/28R&D 17% Acc/Dis B+

Sup/Demand 83

Steady climber is 18% past 67.10 buy point.

Nike Cl B NKE 31 B 90 91 3 115.12 0.10 Rydex Dyn S&P 500 A+ 0.4 +Universal Hlthsvcs UHS 22 B 93 94 +9 142.52 2.71 Blackrock Health S A+ 1.3 +China Biologic Pro CBPO 36 B 92 98 25 122.81 +0.45 Fidelity Blue Chip A+ 0.0 NCelgene CELG 30 B 98 89 28 128.05 3.20 Profunds Biotech U A+ 12.5 NRegeneron Pharmctl REGN 53 B 93 96 +37 582.47 +28.8 Eaton V Worldwide A+ 6.0 NAcadia Healthcare ACHC 43 B 99 95 +19 82.84 +3.06 Prudential Jenn He A+ 1.2 NAmsurg A AMSG 28 B 89 97 +166 84.53 +12.8 Fidelity Select Me A+ 2.2 H F F Inc Cl A HF 21 B 99 86 +23 40.62 5.22 Lord Abbett Sec Mi A+ 0.4 Abbvie Inc ABBV 18 B 88 86 14 69.24 0.77 Profunds Biotech U A+ 13.2 Valeant Pharmaceut VRX 26 B 98 97 +19 248.40 9.1 0.0

Zoetis Inc ZTS 29 C 87 88 +10 48.28 0.70 Putnam Global Heal A+ 1.0Netease Inc Adr NTES 23 B 90 95 37 146.03 +7.40 Columbia Technolog A+ 0.7 +Coca Cola Bottling COKE 34 B 85 98 +17 162.11 +0.11 Rydex Russell 2000 A+ 0.0 Monster Beverage MNST 51 A 93 94 +75 144.87 8.68 Rydex Dyn Ndq 100 A+ 0.5 Palo Alto Networks PANW 257 C 99 97 +6 174.49 11.3 Ridgeworth Aggr Gr A+ 2.7 Verisign VRSN 25 A 88 88 8 70.62 0.32 Profunds Internet A+ 2.1 Pinnacle Entertnmn PNK 25 B 88 96 0 39.00 +0.50 Profunds Ultra Sma A+ 0.1 Allegiant Travel C ALGT 23 A 98 97 +20 223.96 +11.2 Fidelity Select Ai A+ 3.5 +Alaska Air ALK 15 A 98 95 20 77.75 +2.00 Us Global Inv Holm A+ 1.8 +Jetblue Airways JBLU 17 C 98 96 17 23.27 +0.29 Profunds Ultra Sma A+ 0.4 +

Ryanair RYAAY 19 A 86 90 +38 75.65 +1.54 Fidelity Select Ai A+ 0.0 Apogee Entrprises APOG 31 B 99 87 39 53.22 1.96 Profunds Ultra Sma A+ 0.1 Acuity Brands AYI 41 A 97 95 +3 205.32 +4.13 Us Global Inv Holm A+ 1.6 Masco MAS 24 A 94 90 +31 26.44 +0.05 Profunds Ultra Bul A+ 0.1 Mohawk Industries MHK 23 C 97 91 +57 197.64 3.95 Rydex Dyn S&P 500 A+ 0.1 +P G T Inc PGTI 28 A 91 96 +102 14.25 1.82 Profunds Ultra Sma A+ 0.1 +Interface Inc TILE 30 A 89 96 23 26.34 +0.37 Profunds Ultra Sma A+ 0.1 +Sabre Corporation SABR 28 A 86 94 +173 28.10 +1.50 Fidelity Select It A+ 2.8 +Allergan AGN 20 A 97 91 +25 319.47 11.7 Fidelity Select Ph A+ 9.8 Ellie Mae Inc ELLI 54 B 99 98 +45 79.26 +0.81 Lord Abbett Sec Mi A+ 1.2

B Y D A V I D S A I T O - C H U N GINVESTOR'S BUSINESS DAILY

Amid the vast list in todays YourWeekly Review, large-cap stocksare far in theminority. Yet they de-serveattention forseveral reasons.Trading liquidity is important.Bigcaps have it. Check this by going ei-ther to a stocks chart or viewing itsIBD Stock Checkup at inves-tors.com(seetheTechnicalPerfor-mance section). The average vol-ume ideally is 500,000 shares ormore. Dollar volume share vol-ume times the share price shouldbehefty, preferably at least $25mil-lion.Large caps tend to show less day-to-day volatility, except when theytrigger sell signals. The steep sell-off in DisneyDIS (not in this weeksYWR) is a clear violation of the50-daymoving average and amust-sell situation fornewbuyers.Finally, large caps with outstand-ing products, management and fi-nancial discipline, plus a competi-tive position in a growth industry,stand a good chance of becomingmegacaps. Inotherwords,acompa-

ny with a $15 billion market cap IBDs general definition of a largecapcouldgoontogrowto$50bil-lion,$100billionormore.Sportswear and shoe kingNikeNKE($98 billion) has logged nine upweeks in a row, a key sign of robustinstitutional demand. A pullbackwouldnt be surprising.The stock isupasmuchas46%sinceclearingan80.40buypoint inearlySeptember.HCAHoldingsHCA, part of the No.2-rankedMedical-Hospitals group,standsnear the topofFridaysYWRtables. It has a market value of $38billion and was No. 1 in last weekslist. The stock dipped briefly belowits 10-week moving average onWednesday after reporting flatearnings for Q2. The stocks long-term trend has been superb sinceHCA initially broke out near 32 inJanuary2013.Animal health firmZoetisZTS ($24billion) is testing support at its10-week line.Palo Alto NetworksPANW ($15 bil-lion) is undercutting its 10-weekline in heavy trade. Further weak-ness would trigger a sell signal forlong-termholders in thestock.

YourWeeklyReview

NIKE INC CL B (NKE) Grp 1 o$115.12650.8M Shares 97 Comp. Rating 90 EPS RS 91 ROE 25%MARKETS HIGH QUALITY ATHLETIC FOOTWEAR, APPAREL, EQUIPMENTAND ACCESSORIES ON A WORLDWIDE BASIS.


Acc/Dis B+

Near recent highs; stretched 11% past 103.89 flat-base entry

CELGENE CORP (CELG) Grp 3 o$128.05785.2M Shares 99 Comp. Rating 98 EPS RS 89 ROE 51%DEVELOPS THERAPIES TO TREAT CANCER AND IMMUNE-INFLAMMATO-RY RELATED DISEASES BY REGULATING CELLS, GENES AND PROTEINS.

+23% Ann. EPS Gro PE 30 Avg. D. Vol 4,655,100 Debt 96%24 Qtrs EPS) 15%Eps Due 10/21R&D 32%

Acc/Dis B

About 1% under 129.16 buy point in cup base, was up 9%.

AMSURG CORP (AMSG) Grp 4 o$84.5347.0M Shares 99 Comp. Rating 89 EPS RS 97 ROE 9%OPERATES 242 AMBULATORY SURGERY CENTERS WITH PHYSICIANPRACTICE GROUPS IN 34 STATES AND THE DISTRICT OF COLUMBIA.

+16% Ann. EPS Gro PE 28 Avg. Daily Vol 343,700 Debt 133%Last Qtr Eps +47%5 Last Qtr Sales+131%1 Qtrs EPS) 15%Eps Due 11/4e

Acc/Dis B+

Extended from 72.95 buy point after soaring on earnings.

VALEANT PHARMACEUTICALS (VRX) Grp 6 o$248.40328.8M Shares 99 Comp. Rating 98 EPS RS 97 ROE 55%DEVELOPS BRANDED DRUGS IN THE AREAS OF DERMATOLOGY, NEU-ROLOGY AND EYE HEALTH AND OTC PRODUCTS.

+37% Ann. EPS Gro PE 26 Avg. D. Vol 1,626,700 Debt 287%Last Qtr Eps +34% Last Qtr Sales +34%9 Qtrs EPS) 15%Eps Due 10/19

Acc/Dis B

Once-7% gain from 246.11 entry sags to 1% above entry.

COCA COLA BTLG CONSOL (COKE) Grp 10 $162.114.6M Shares 99 Comp. Rating 85 EPS RS 98 ROE 21%MANUFACTURES NON-ALCOHOLIC BEVERAGES PRIMARILY UNDERBRANDS LICENSED FROM THE COCA-COLA COMPANY.


Acc/Dis B+

Extended past 116.55 buy point of June breakout.

VERISIGN INC (VRSN) Grp 11 o$70.62115.3M Shares 92 Comp. Rating 88 EPS RS 88 ROE 0%PROVIDES DOMAIN NAME REGISTRY SERVICES AND INTERNET SECURI-TY FOR WEBSITE AND ENTERPRISES WORLDWIDE.

+19% Ann. EPS Gro PE 25 Avg. Daily Vol 894,500 Debt n/a0 Qtrs EPS) 15%Eps Due 10/21R&D 7%

Acc/Dis A

In buy range from 68.35 buy point of cup-shaped base.

ALASKA AIR GROUP INC (ALK) Grp 13 o$77.75128.3M Shares 98 Comp. Rating 98 EPS RS 95 ROE 27%PROVIDES AIRLINE PASSENGER TRANSPORTATION VIA ITS ALASKAAIRLINES AND HORIZON AIR SUBSIDIARIES.



Extended 9% above 71.50 entry in late-stage base.

APOGEE ENTERPRISES (APOG) Grp 14 o$53.2228.1M Shares 98 Comp. Rating 99 EPS RS 87 ROE 12%MANUFACTURES GLASS WALLS, WINDOWS AND FILM COATINGS FORCOMMERCIAL BUILDINGS AND ELECTRONICS DISPLAYS.


Acc/Dis B-Sup/Demand 77

Forming late-stage base with 61.15 buy point.

MOHAWK INDUSTRIES INC (MHK) Grp 14 o$197.6463.6M Shares 95 Comp. Rating 97 EPS RS 91 ROE 13%MANUFACTURES FLOOR COVERING PRODUCTS FOR RESIDENTIAL ANDCOMMERCIAL APPLICATIONS IN THE U.S. AND EUROPE.

+46% Ann. EPS Gro PE 23 Avg. Daily Vol 467,600 Debt 32%13 Qtrs EPS) 15%Eps Due 7/31e

Acc/Dis C

Nearly 5% past 188.39 buy point; RS line at new high.

SABRE CORPORATION (SABR) Grp 15 o$28.10263.4M Shares 91 Comp. Rating 86 EPS RS 94 ROE 0%PROVIDES END-TO-END TECHNOLOGY SOLUTIONS TO A BROAD RANGEOF TRAVEL SUPPLIERS AND BUYERS LOCATED AROUND THE WORLD.

+18% Ann. EPS Gro PE 28 Avg. D. Vol 2,189,800 Debt 999%1 Qtrs EPS) 15%Eps Due 11/11e

Acc/Dis A-

Extended after clearing base with 26.53 buy point.

Vol Week Highest Performing 36 Mos % ofAcc EPS RS % Price Change MutualFundWith Perf Fund In

Company Symbol P/E Dis Rtg Rtg Chg Close To Thurs Large Investment Rtg the Stk

Weekly Review August 3 - August 7All stocks above $10, within 15% of 12-month high, Earnings PerShare (EPS) Rating and Relative Price Strength (RS) Rating of 85 ormore and average daily volume of 10,000 or more are shown in orderof Industry Group Relative Strength Rating. Vol % Change is thisweeks daily average compared with 50-day average. Stocks up 1 pointor more with volume up at least 50% are boldfaced. Mutual fund datainclude U.S. stock funds, their 36-Month Performance Rating and %of fund in the stock. 0.0 = less than 0.1%, (+) added, () reduced, (N)new in latest report.

Which Large-Cap FirmsLead The Market Now?

INVESTOR'S BUSINESS DAILY FRIDAY, AUGUST 7, 2015 A5

10 Most % Up (Stocks Over $12)EPS Rel Acc Closing Net Vol Vol%Rnk Str Dis Stock Name Price Up (100s) Chg

10 Most Active StocksEPS Rel Acc Closing Net Vol Vol%Rnk Str Dis Stock Name Price Up (100s) Chg

18 24 B 53.30 ImperialOil o IMO 37.01 +0.65 386 +26

.. 15 E 38.37 FT EnrgInc&Gr FEN 26.20 0.32 180 +150

.. 24 E 27.18 CrnstTotR CRF 18.47 0.60 128 +6366 96 D 33.89 StrghtPath B o STRP 23.26 0.94 270 +5653 72 B 90.92 ParkNatl PRK 87.31 1.41 34 +3868 73 B+ 30.00 OrchidPap TIS 26.52 0.75 111 +35

61 24 D+ SynrgyRsrcs 10.15 +0.53 1.49 1414 8 C TriaglPtrl 3.93 +0.47 1.46 +1542 5 C NorthOilGas 5.03 +0.24 3.31 +11262 16 D+ Globalstr 1.99 +0.04 1.92 4922 4 D NewGold 1.93 0.01 7.20 +108

51 3 D ActiniumPhr 1.79 0.02 1.06 1543 99 A+ Oragenics 3.12 0.09 1.06 +1817 5 E Organovo 3.02 0.10 1.83 +8

10 98 B SynthticBiolg 3.10 0.11 2.35 +1020 30 D+ CheniereEngy 64.81 0.17 3.87 +19

EPS Rel Acc 52-Wk Stock Closing Vol Vol%Rnk Str Dis High Stock Name Symbol Price Change (1000s) Change

AB 55 72 A B N H BritAmerTob BTI 118.6 .74 14

CDE 20 30 D D+ 85.0 CheniereEngy LNG 64.81 .17 +1926 40 D E 34.6 ChenierePart CQP 29.85 .08 455 34 B D+ 26.1 CheniereEnrg CQH 21.90 +.70 184 75 B B 64.4 ConsTomoka CTO 56.63 1.37 48

93 80 C+ C 29.0 CoreMldng CMT 18.10 .72 77k.. 62 C B+ 61.4 DX S500VltyRs VSPY 59.66 .37 95

FGH 54 76 C D+ 13.3 HC2 HCHC 7.25 .49 +19k

IJKL 60 99 A+ D+ 29.9 ImpacM IMH 20.75 +.17 +2918 24 D B 53.3 ImperialOil IMO 37.01 +.65 +26.. 26 C C 32.1 IS MscHkSC EWHS 24.63 .23 33k.. 62 C B 77.4 IS MscWldEtf URTH 73.29 .79 90k

73 82 C C 42.0 Libbey LBY 37.07 .26 28

MNO .. 23 C E 16.0 NuvnDivCom CFD 10.80 .07 5 .. 70 C C 17.3 NuvnLg/StCmd CTF 16.32 .02 73

75 68 C B 17.0 Owens Realty ORM 14.53 .47 79k

PQR 77 43 B B 25.7 ParPetrol PARR 18.53 +.43 52k53 72 A B 90.9 ParkNatl PRK 87.31 1.41 +382 99 A+ B 24.4 Pfenex PFNX 18.61 1.95 43k.. 36 C D 36.2 PS30YrTipTsy RINF 29.74 +.14 +217k

34 12 E D 18.6 Ring Energy REI 8.75 +.49 6

ST 66 96 B D 33.9 StrghtPath B STRP 23.26 .94 +5661 24 E D+ 13.8 SynrgyRsrcs SYRG 10.15 +.53 1473 76 B+ A 57.2 Tompkns TMP 53.62 .88 1x

UVWXYZ 26 35 B B 13.0 Volt Info Sci VISI 9.80 +.05 34

ENVISION HEALTHCARE HLDG (EVHC) Grp 19 o$44.2676.1M Shares 99 Comp. Rating 90 EPS RS 92 ROE 14%PROVIDES PHYSICIAN-LED, OUTSOURCED MEDICAL SERVICES IN THEU.S. WITH MORE THAN 20,000 AFFILIATED CLINICIANS.


Acc/Dis A-

Holds near new high, 10% past 40.37 entry of shallow cup.

FLEXSTEEL INDUSTRIES INC (FLXS) Grp 20 $40.716.4M Shares 90 Comp. Rating 87 EPS RS 88 ROE 12%MANUFACTURES UPHOLSTERED AND WOOD SOFAS, CHAIRS, SWIVELROCKERS, CONVERTIBLE BEDDING UNITS, OCCASIONAL TABLES, DESKS

+16% Ann. EPS Gro PE 14 Avg. Daily Vol 35,600 Debt 0%Last Qtr Eps +57%5 Last Qtr Sales +11%

Acc/Dis C

22% gain down to 7% from 37.94 entry from cup with handle.

ABIOMED INC (ABMD) Grp 21 o$94.3235.3M Shares 99 Comp. Rating 99 EPS RS 99 ROE 12%DEVELOPS MEDICAL DEVICES DESIGNED TO ASSIST OR REPLACE THEPUMPING FUNCTION OF THE HEART

+29% Ann. EPS Gro PE 108 Avg. Daily Vol 665,200 Debt 0%4 Qtrs EPS) 15%Eps Due 10/30eR&D 16%

Acc/Dis ASup/Demand 86

Extended after huge breakout over 77 buy point.

LEMAITRE VASCULAR INC (LMAT) Grp 21 $13.2711.9M Shares 96 Comp. Rating 88 EPS RS 97 ROE 6%DEVELOPS DISPOSABLE AND IMPLANTABLE VASCULAR DEVICES TOADDRESS THE NEEDS OF VASCULAR SURGEONS.


Acc/Dis A-

Thin stock well-extended after late April breakout.

VASCULAR SOLUTIONS (VASC) Grp 21 o$37.5816.1M Shares 99 Comp. Rating 95 EPS RS 93 ROE 14%DEVELOPS MEDICAL DEVICES USED IN INTERVENTIONAL PROCEDURESBY CARDIOLOGISTS AND RADIOLOGISTS.

+19% Ann. EPS Gro PE 40 Avg. Daily Vol 134,000 Debt 0%Last Qtr Eps +38%5 Last Qtr Sales +22%2 Qtrs EPS) 15%R&D 15%

Acc/Dis B-

Thin stock is back to 4% past 36.04 entry from cup base.

MASIMO CORP (MASI) Grp 22 o$42.3443.9M Shares 98 Comp. Rating 89 EPS RS 97 ROE 22%DEVELOPS PATIENT MONITORING PRODUCTS WHICH INCLUDE A MONI-TOR OR CIRCUIT BOARD AS WELL AS CONSUMABLES AND REUSABLES.


Acc/Dis B+

Extended after Feb. breakout; many pullbacks to 10-wk line.

U S A N A HEALTH SCIENCE (USNA) Grp 23 $156.845.6M Shares 99 Comp. Rating 96 EPS RS 97 ROE 31%MANUFACTURER AND NETWORK MARKETER OFFERING VITAMIN ANDMINERAL SUPPLEMENTS, HEALTH FOODS AND SKIN CARE PRODUCTS


Acc/Dis A-

Triggers 8% sell rule but then gaps up 11% past 141.09 entry.

FIRST DEFIANCE FINL (FDEF) Grp 25 $38.178.9M Shares 95 Comp. Rating 93 EPS RS 88 ROE 9%HOLDING CO FOR FIRST FEDERAL BANK OF THE MIDWEST OPERATINGVIA 33 OFFICES IN 14 COUNTIES IN OHIO, INDIANA AND MICHIGAN.

+20% Ann. EPS Gro PE 14 Avg. Daily Vol 53,400 Debt 21%Last Qtr Eps +23% Last Qtr Sales +6%2 Qtrs EPS) 15%

Acc/Dis B-

Thin issue is barely above 38.07 flat-base entry.

OXFORD INDUSTRIES INC (OXM) Grp 26 o$84.3615.8M Shares 93 Comp. Rating 87 EPS RS 92 ROE 19%MARKETS DRESS SHIRTS, SUITS, JEANS, FOOTWEAR, SPORTSWEARAND ACCESSORIES FOR MEN, WOMEN AND CHILDREN



May form new flat base with 90.10 buy point.

MOLINA HEALTHCARE INC (MOH) Grp 28 o$76.3238.6M Shares 98 Comp. Rating 97 EPS RS 97 ROE 14%PROVIDES MANAGED HEALTHCARE SERVICES TO 1.9 MIL MEMBERSVIA GOVT-SPONSORED PROGRAMS FOR LOW-INCOME FAMILIES


Acc/Dis ASup/Demand 91

In buy range, 3% past 74.08 flat base buy point.

S S & C TECHNOLOGIES (SSNC) Grp 18 o$67.8173.3M Shares 98 Comp. Rating 90 EPS RS 92 ROE 16%PROVIDES SOFTWARE FOR THE FINANCIAL SERVICES INDUSTRY TOSUPPORT INVESTMENT MANAGEMENT AND OTHER FUNCTIONS

+28% Ann. EPS Gro PE 27 Avg. Daily Vol 707,500 Debt 46%1 Qtrs EPS) 15%Eps Due 10/27R&D 7%

Acc/Dis B+

Eases to 4% past 65.10 entry but low-volume breakout.

CULP INC (CFI) Grp 20 o$29.929.3M Shares 95 Comp. Rating 89 EPS RS 95 ROE 15%MANUFACTURES UPHOLSTERY AND MATTRESS FABRICS FOR COMMER-CIAL AND RESIDENTIAL FURNITURE AND THE BEDDING INDUSTRY.

+14% Ann. EPS Gro PE 19 Avg. Daily Vol 105,600 Debt 2%Last Qtr Eps +67%5Last Qtr Sales +6%2 Qtrs EPS) 15%Eps Due 9/2

Acc/Dis B+

Sell signal: Round tripped 15% gain from 29.29 entry.

KNOLL INC (KNL) Grp 20 o$24.3446.9M Shares 94 Comp. Rating 90 EPS RS 87 ROE 24%MANUFACTURES MEDIUM TO HIGH-END BUSINESS OFFICE SYSTEMS,FURNISHINGS, SEATING, STORAGE, TEXTILES AND FINE LEATHERS.


Acc/Dis B

Thin stock forms new base with 26.16 entry.

EDWARDS LIFESCIENCES CP (EW) Grp 21 o$144.28103.2M Shares 96 Comp. Rating 96 EPS RS 90 ROE 20%DEVELOPS PRODUCTS TO TREAT ADVANCED CARDIOVASCULAR DISOR-DERS INCLUDING HEART VALVE AND PERIPHERAL VASCULAR DISEASE.

+19% Ann. EPS Gro PE 35 Avg. D. Vol 1,072,600 Debt 27%2 Qtrs EPS) 15%Eps Due 10/21R&D 15%

Acc/Dis B

Testing support; gives up 147.40 cup w/ handle entry.

NEOGEN CORP (NEOG) Grp 21 o$57.5334.8M Shares 96 Comp. Rating 85 EPS RS 94 ROE 10%DEVELOPS DIAGNOSTIC TEST KITS FOR FOOD SAFETY, AND PHARMA-CEUTICALS AND VACCINES FOR ANIMAL SAFETY.


Acc/Dis B-

Triggers 8-week hold rule after breakout over 50.32.

CANTEL MEDICAL CORP (CMN) Grp 22 o$54.2534.1M Shares 99 Comp. Rating 92 EPS RS 93 ROE 14%DEVELOPS INFECTION PREVENTION AND CONTROL DEVICES USED FORDIALYSIS, ENDOSCOPY AND WATER PURIFICATION AND FILTRATION.

+24% Ann. EPS Gro PE 41 Avg. Daily Vol 128,600 Debt 22%Last Qtr Eps +17%5 Last Qtr Sales +18%2 Qtrs EPS) 15%R&D 2%

Acc/Dis B-

First visit to 10-wk line after breakout over 49.76.

PRESTIGE BRANDS HOLDINGS (PBH) Grp 23 o$48.2852.1M Shares 98 Comp. Rating 96 EPS RS 94 ROE 16%MARKETS OTC SORE-THROAT DRUGS, LIQUID BANDAGES, WART RE-MOVER, HOUSEHOLD CLEANING PRODUCTS AND OTHER ITEMS.

+15% Ann. EPS Gro PE 25 Avg. Daily Vol 236,900 Debt 253%3 Qtrs EPS) 15%Eps Due 11/6e

Acc/Dis B

Extended from multiple tests of 10-week line.

CAPE BANCORP INC (CBNJ) Grp 25 $10.9011.3M Shares 98 Comp. Rating 87 EPS RS 86 ROE 5%HOLDING COMPANY FOR CAPE BANK OPERATING VIA 14 OFFICES INCAPE MAY AND ATLANTIC COUNTIES, NJ.

+45% Ann. EPS Gro PE 13 Avg. Daily Vol 36,600 Debt 90%

Acc/Dis A

Thin, low-priced stock extended from 9.99 buy point.

G III APPAREL GROUP INC (GIII) Grp 26 o$69.9139.6M Shares 99 Comp. Rating 95 EPS RS 96 ROE 16%MAKES MEN'S AND WOMEN'S COATS, JACKETS, PANTS AND OTHERSPORTSWEAR ITEMS UNDER LICENSED AND PROPRIETARY BRANDS.


Acc/Dis B

First test of 10-week line since breakaway gap in June.

AETNA INC (AET) Grp 28 o$116.40338.7M Shares 93 Comp. Rating 91 EPS RS 92 ROE 17%PROVIDES MANAGED HEALTHCARE SERVICES NATIONWIDE THROUGHPOS, PPO, HMO, HSA AND INDEMNITY PLANS TO 46 MIL MEMBERS.

+15% Ann. EPS Gro PE 16 Avg. D. Vol 4,140,600 Debt 47%Last Qtr Eps +21% Last Qtr Sales +5%2 Qtrs EPS) 15%Eps Due 10/28e


Off highs; still extended from 110 buy point of flat base.

Fair Isaac Corp FICO 23 C 89 91 +7 90.68 0.01 Profunds Ultra Sma A+ 0.2 S S & C Technologi SSNC 27 B 90 92 32 67.81 0.22 Profunds Ultra Sma A+ 0.3 Envision Healthcar EVHC 33 A 90 92 +2 44.26 0.54 Hartford Healthcar A+ 1.2 +V C A Inc WOOF 27 B 86 89 +110 57.08 4.45 Schwab Health Care A+ 0.6 +Culp Inc CFI 19 B 89 95 59 29.92 0.33 Rydex Russell 2000 A+ 0.0 +Flexsteel Inds FLXS 14 C 87 88 +3 40.71 +0.79 Rydex Russell 2000 A+ 0.0 +Hooker Furniture HOFT 20 B 94 92 51 24.07 0.88 Rydex Russell 2000 A+ 0.0 NKnoll Inc KNL 17 B 90 87 46 24.34 +0.14 Profunds Ultra Sma A+ 0.1 NAbiomed ABMD 108 A 99 99 +156 94.32 +16.9 Allianzhealthe Sci A+ 0.6 NCambrex CBM 27 B 99 98 +64 50.00 +0.75 Icon Healthcare S A+ 0.9 N

Edwards Lifescienc EW 35 B 96 90 +3 144.28 7.88 Fidelity Select Me A+ 2.9 Lemaitre Vascular LMAT 39 A 88 97 3 13.27 0.97 Emerald Growth A A+ 0.2 Merit Medical Syst MMSI 27 A 86 97 9 25.24 0.32 Profunds Ultra Sma A+ 0.1 Neogen NEOG 64 B 85 94 9 57.53 0.66 Profunds Ultra Sma A+ 0.1 Vascular Solutions VASC 40 B 95 93 12 37.58 +0.35 Fidelity Select

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