Quest Diagnostics Acquires Blueprint Genetics; Financial Terms Not Disclosed

Mitch McConnell’s Impeachment Witness Comments Come Back To Haunt Him

Senate Majority Leader Mitch McConnell (R-Ky.) has made every effort to block witnesses from the impeachment proceedings in the Senate to protect President Donald Trump. 

But newly resurfaced comments from the impeachment of then-President Bill Clinton show that McConnell once favored calling witnesses.

“Had my vote prevailed, there would’ve been live witnesses,” he said in 1999 footage resurfaced by CNN.

Making the footage even more awkward in retrospect, McConnell slammed Democrats by saying they had decided to clear Clinton before the proceedings even began. 

“There were no open minds on the Democratic side in this trial,” he said. 

But now, McConnell is guilty of doing just that himself. 

“I’m not an impartial juror,” he declared last month. 

McConnell also seemed quite deferential to the wishes of House impeachment managers in 1999, offering to give them what they wanted to put on the trial:  

Sensex sheds 208 points; ONGC tanks 5%

Market benchmark Sensex surrendered early gains to end 208 points lower on Wednesday as energy, power, auto and financial stocks came under selling pressure.

After plunging 473 points from the day’s high in a choppy session, the 30-share BSE index settled 208.43 points, or 0.50%, lower at 41,115.38. It hit an intra-day high of 41,532.29 and a low of 41,059.04.

Likewise, the broader NSE Nifty closed 62.95 points, or 0.52%, down at 12,106.90.

ONGC was the top loser in the Sensex pack, tumbling 5.13%, followed by NTPC, Maruti, Kotak Bank, HDFC, Asian Paints, ICICI Bank and Axis Bank.

On the other hand, Nestle India, TCS, Infosys, HCL Tech, SBI and Bharti Airtel ended with gains of up to 1.86%.

According to experts, major stocks are in the process of correcting to their support levels ahead of the Union Budget.

Further, global agencies slashing India’s growth outlook and a tepid start to the earnings season are also weighing on domestic investor sentiment, they added.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with gains.

European markets were also trading on a positive note in their early sessions.

Brent crude oil futures fell 0.67% to USD 64.16 per barrel.

The rupee was trading flat at 71.22 per US dollar (intra-day).

Prologis Guides FY20 EPS Above Estimates – Quick Facts

While reporting its financial results for the fourth quarter on Wednesday, Prologis Inc. (PLD) initiated its fiscal 2020 outlook for earnings as well as core funds from operations.

For fiscal 2020, the company now forecasts net earnings in a range of $1.98 to $2.13 per share, and core funds from operation or core FFO in a range of $3.67 to $3.75 per share.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.51 per share for the year. Analysts’ estimates typically exclude special items.

Trump to break bread with Apple's Cook and other CEOs

Trump: US building an economy that works for everyone

President Trump addresses the World Economic Forum in Davos, discussing America’s booming economy, international trade and clean energy.

President Trump is holding meetings while at the World Economic Forum in Davos, Switzerland.

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On the agenda was a breakfast meeting on Wednesday with corporate executives including Apple Chief Executive Tim Cook, according to Reuters.

On Tuesday night, Trump met with executives from 25 multinational companies and organizations over dinner.

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President Trump went to Davos to sell the world on the U.S. The gathering talked business relationships, especially in the technology space with a focus on the rollout of next-generation 5G telecom networks.

TRUMP SAYS TARIFFS ON EUROPEAN CARS ARE STILL ON THE TABLE

Reuters reported that other attendees of the dinner were various Cabinet members and White House advisers, including acting Chief of Staff Mick Mulvaney, economic adviser Larry Kudlow and Treasury Secretary Steven Mnuchin.

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Amphenol Issues Q1 & FY20 Guidance – Quick Facts

Amphenol Corp. (APH) announced the company anticipates first-quarter adjusted earnings per share in the range of $0.85 to $0.87 and sales in the range of $1.960 billion to $2.000 billion. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.89 on revenue of $1.95 billion. Analysts’ estimates typically exclude special items.

For the full year 2020, the company projects adjusted earnings per share to be in the range of $3.76 to $3.84, representing 1% to 3% growth over 2019. Sales are anticipated in the range of $8.240 billion to $8.400 billion, representing flat to 2% growth over 2019. Analysts expect the company to report profit per share of $3.98 on revenue of $8.38 billion.

Fourth-quarter adjusted earnings per share was $0.98 compared to $1.05 for the fourth quarter 2018. Sales were $2.151 billion compared to $2.225 billion, a year ago. The company noted that currency translation had the effect of decreasing sales by approximately $14 million in the fourth quarter 2019 compared to last year.

Quest Diagnostics Acquires Blueprint Genetics; Financial Terms Not Disclosed

Quest Diagnostics (DGX) announced Wednesday that it has acquired Finland-based genetic testing company Blueprint Genetics in an all-cash equity transaction. Financial terms of the transaction were not disclosed.

Blueprint Genetics is a leading specialty genetic testing company with deep expertise in gene variant interpretation based on next generation sequencing (NGS) and proprietary bioinformatics.

Together, Quest and Blueprint Genetics will broaden access to actionable insights in genetic and rare diseases, improving patient care and pharmaceutical drug research and development.

Blueprint Genetics brings to Quest a proven platform in specialty genetics, especially gene variant interpretation and reporting, that powerfully differentiates our Advanced Diagnostics offering. The company provides 3,900 targeted single gene and over 200 panel tests spanning 14 medical specialties.

Blueprint Genetics has developed a proven model for delivering highly specialized genetic insights that can scale to serve new patient populations with unmet clinical needs. According to the National Institutes of Health, as many as 7,000 rare diseases exist and as many as 30 million Americans have a rare disease.

Blueprint Genetics has increased its focus and presence in the U.S. through a recently established hub facility in Seattle, Washington. Blueprint Genetics is expected to continue to operate largely independently from its base laboratory in Helsinki, Finland, and a presence in other countries.