Friday, July 27, 2012

Gilead Sciences Soars 7% On Solid Earnings – GILD, HGSI, KLAC, MCK

Shares of pharma firm Gilead Sciences, Inc.(NASDAQ:GILD) Inc also rose 7.410% after it reported results, beating analyst expectations though second-quarter earnings slid 4.6 percent due to a spike in costs that offset revenue growth.

Shares were at $54.10 in after-hours trading on Thursday as results, taking its total gains this year to 26 percent.

Get Latest Updates on Earnings

Net income fell 4 percent to $711.6 million or 91 cents a share due to costs associated with the $11.1 billion acquisition of hepatitis C drug developer Pharmasset Inc. and interest expenses while revenue rose 12.5 percent to $2.41 billion, led by sales of antiviral drugs like Atripla, Truvada and Viread.

Human Genome Sciences (NASDAQ:HGSI) went up 0.11% to $14.24 on a traded volume of 484k shares. The shareholders of Human Genome Sciences are not entitled to more time to consider the offer, as told by U.S. District Judge Sue L. Robinson. Human Genome Sciences Inc investors lost a bid to extend GlaxoSmithKline Plc deadline of tomorrow to decide whether to tender their shares for a $3 billion buyout.

KLA-Tencor Corporation (NASDAQ:KLAC) soared 1.89% to $50.60. The Company reported first quarter EPS of $1.49, beating the analyst estimate of $1.31. Revenue for the quarter was $892.5 million versus the consensus estimate of $873.16 million.

McKesson Corporation (NYSE:MCK) went up 0.76% to $92.97 after the company released first quarter results. Adjusted income was $372 million or $1.55 per share compared to $323 million or $1.27 per share in the prior year quarter. However, analysts expected the company to earn $1.48 per share for the quarter.  Total revenues for the quarter rose 3% to $30.80 billion.

No comments:

Post a Comment

Privacy Policy | Legal Disclaimer