Biotech GlobeImmune (GBIM) said Wednesday that a hepatitis B drug it’s developing with Gilead Sciences (GILD) failed a midstage trial. GlobeImmune stock lost half its value, but Gilead stock rose. GlobeImmune said that GS-4774, a therapeutic vaccine that it licensed to Gilead, didn’t meet the trial’s primary endpoint of reducing the hepatitis B surface antigen (HBsAG) after 24 weeks of treatment, though GlobeImmune CEO Timothy Rodell said the
Apple supplier Avago Technologies (AVGO) is expected to post its eighth straight quarter of accelerating earnings and sales growth when the chipmaker reports Q2 results after the market close Thursday. Analysts polled by Thomson Reuters expect Avago to report earnings per share excluding items of $2.01, up 136% from the year-earlier quarter. Revenue is expected to soar 133% to $1.635 billion. For the current quarter, EPS minus items is expected to
Workday’s (WDAY) mixed earnings report late Tuesday could be the result of several factors ranging from seasonality issues and lower average deal sizes to increased competition from business software giant Oracle (ORCL), analysts say. Workday, the No. 1 provider of human capital management software, reported a per-share loss and revenue that beat analyst estimates, but its Q1 billings and Q2 revenue outlook were less than what Wall Street wanted