Generic and specialty drug giant Actavis beat Wall Street’s third-quarter estimates and raised its guidance early Wednesday, sending the stock to a new high of 254.41 before closing up 1.1% at 247.91. Actavis’ (AGN) earnings, excluding one-time items, rose 53% over the year-earlier quarter to $3.19 a share, beating analysts’ consensus by 9 cents, according to Thomson Reuters. Revenue jumped 83% to $3.68 billion, topping consensus by about $40
Generic and specialty drug giant Actavis beat Wall Street’s third-quarter estimates and raised its guidance early Wednesday, sending the stock to a new high of 254.41 before closing up 1.1% at 247.91. Actavis’ (AGN) earnings, excluding one-time items, rose 53% over the year-earlier quarter to $3.19 a share, beating analysts’ consensus by 9 cents, according to Thomson Reuters. Revenue jumped 83% to $3.68 billion, topping consensus by about $40
Several highly rated tech companies and drugmakers are set to report earnings on Wednesday. Here’s a look at what analysts expect. Actavis (ACT) reports its results before the open. The specialty-drug giant is projected to earn $3.10 a share, a 48% jump from last year. Revenue is seen skyrocketing 80% to $3.63 billion. Botox maker Allergan (AGN), which is fighting off a hostile takeover bid from Valeant (VRX), confirmed Monday that it had been