In today’s briefing:
- Corteva Inc.: Launch Of Vorceed Enlist Corn Products & Other Drivers
- Fidelity National Information Services Inc.: Major Drivers
- Vertex Pharmaceuticals: Launch Of First CRISPR Gene Editing Therapy & Other Developments
Corteva Inc.: Launch Of Vorceed Enlist Corn Products & Other Drivers
- Corteva had a strong fourth quarter and managed to deliver an all-around beat.
- Strong organic sales led to $370 million in profitability for the quarter, an increase in the margin of more than 200 basis points.
- Strong demand for new products was the primary factor in the 9% annual increase in crop protection volume.
Fidelity National Information Services Inc.: Major Drivers
- Fidelity National Information Services achieved its financial targets for the fourth quarter and delivered an all-around beat.
- In the fourth quarter, merchants increased by 2% on a constant currency basis.
- We give Fidelity National Information Services a ‘Buy’ rating with a revised target price.
Vertex Pharmaceuticals: Launch Of First CRISPR Gene Editing Therapy & Other Developments
- Vertex Pharmaceuticals ended the year on a strong note, with full-year global CF product revenue rising 18% from 2021.
- Their mid- and late-stage clinical pipeline holds the opportunity to provide patients across 8 disease areas with potentially transformative impact.
- The management forecast for product revenue for the entire 2023 fiscal year is $9.55 billion to $9.7 billion, which, after factoring in an estimated 1.5% FX headwind, represents 7% to 9% growth year over year.
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