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
Qualcomm missed sales and earnings estimates in its quarterly report late Wednesday, hurt by licensing and royalty troubles in China and a maturing smartphone market. Qualcomm (QCOM) reported revenue of $6.69 billion, up 3% year-over-year and missing the consensus estimate of $7 billion, as polled by Thomson Reuters. It was the third straight quarter of single-digit sales growth after 14 straight quarters of double-digit growth. Qualcomm posted
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