When I think of the Economy of Massachusetts, I think of its Highly Effective Governors from Both Political Parties and of Their Support For Research at Harvard and at MIT and of Health Care and Technology Companies
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An indeed, of the 28 Massachusetts Companies with Stock Market Caps Above $10 Bil, 18 of them are either Health Care or Technology Companies
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From a review of company SEC filings and of MSN Money individual company common stock information, I found 18 Massachusetts Health Care and Technology Companies with stock market caps sometime in 2018 of more than $10 Bil and with December 2018 Quarter Ends.
Of these 18 Massachusetts Health Care and Technology Companies, 16 of them have released their December 2018 Quarterly Earnings by February 22, 2019.
My Focus is on Pretax Income rather than on After-Tax Net Income because Corporate Income Taxes are simply a transfer of financial wealth between US Corporations and the US Federal, US State and Foreign Governments. It has nothing whatsoever to do with Company Operating Performance.
The chart below shows the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for each quarter of 2018 as compared with that of the prior year quarter of 2017 for each of these 16 Massachusetts Health Care and Technology Companies.
| US | US | US | US | US | US | US | US | ||||||||
| GAAP | GAAP | GAAP | GAAP | GAAP | GAAP | GAAP | GAAP | ||||||||
| Pretax | Pretax | Pretax | Pretax | Pretax | Pretax | Pretax | Pretax | ||||||||
| Income | Income | Income | Income | Income | Income | Income | Income | ||||||||
| Massachusetts Cos | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | (Loss) | |||||||
| Health Care and Technology Cos | Dec | Dec | Better | Sept | Sept | Better | June | June | Better | March | March | Better | |||
| Stock Market Caps Above $10 Bil | 2018 | 2017 | (Worse) | 2018 | 2017 | (Worse) | 2018 | 2017 | (Worse) | 2018 | 2017 | (Worse) | |||
| December 2018 Qtr Earnings | Quarter | Quarter | % | Quarter | Quarter | % | Quarter | Quarter | % | Quarter | Quarter | % | |||
| Released By February 22, 2019 | End | End | Change | End | End | Change | End | End | Change | End | End | Change | |||
| mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | mils $ | ||||||||
| Biogen | 1,415 | 1,400 | 1% | 1,813 | 1,610 | 13% | 1,179 | 1,132 | 4% | 1,494 | 987 | 51% | |||
| Thermo Fisher Scientific | 1,012 | 820 | 23% | 810 | 480 | 69% | 806 | 626 | 29% | 634 | 503 | 26% | |||
| Skyworks Solutions | 324 | 386 | -16% | 343 | 348 | -1% | 311 | 307 | 1% | 292 | 281 | 4% | |||
| Boston Scientific | 296 | 227 | 30% | 456 | 309 | 48% | 347 | 91 | 281% | 323 | 305 | 6% | |||
| Waters Corp | 198 | 226 | -12% | 169 | 154 | 10% | 175 | 148 | 18% | 141 | 113 | 25% | |||
| Akamai Technologies | 113 | 32 | 253% | 111 | 92 | 21% | 52 | 86 | -40% | 68 | 105 | -35% | |||
| Hologic | 104 | 96 | 8% | 71 | 72 | -1% | 105 | 75 | 40% | (691) | 968 | -171% | |||
| IPG Photonics | 101 | 148 | -32% | 128 | 161 | -20% | 164 | 142 | 15% | 142 | 101 | 41% | |||
| Abiomed | 65 | 46 | 41% | 52 | 32 | 63% | 48 | 34 | 41% | 49 | 29 | 69% | |||
| Vertex Pharmaceutical | 32 | 112 | -71% | 137 | (417) | NM | 217 | 36 | 503% | 215 | 254 | -15% | |||
| PTC Inc | 20 | 23 | -13% | 1 | 5 | -80% | 10 | 1 | 900% | 12 | (1) | NM | |||
| Alkermes | (2) | 11 | -118% | (34) | (36) | NM | (24) | (46) | NM | (67) | (73) | NM | |||
| Alexion Pharmaceuticals | (33) | 89 | -137% | 342 | 58 | 490% | (419) | 206 | -303% | 352 | 194 | 81% | |||
| Wayfair | (143) | (73) | NM | (151) | (76) | NM | (100) | (39) | NM | (108) | (56) | NM | |||
| bluebird bio | (149) | (117) | NM | (145) | (79) | NM | (146) | (71) | NM | (115) | (69) | NM | |||
| Alnylam Pharmaceuticals | (211) | (142) | NM | (245) | (123) | NM | (163) | (118) | NM | (141) | (107) | NM | |||
| Total 16 Health Care & Techs | 3,142 | 3,284 | -4% | 3,858 | 2,590 | 49% | 2,562 | 2,610 | -2% | 2,600 | 3,534 | -26% |
