Myriad Genetics diagnostics, oncology units dazzle Street

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Myriad Genetics diagnostics, oncology units dazzle Street

Julian Close 11/06/2013

Shares of Myriad Genetics ( MYGN ) Solutions are soaring this Wednesday morning following the company's fiscal first quarter earnings report. MYGN earned $0.68 per share, an increase of 84% from the year-ago quarter, beating The Street's estimate by nearly 50%. Revenue too, rose more than expected, 52% from the year ago quarter to $202.5 million, beating the consensus estimate of $168 million. Piling good news on good news, the company announced that its proit margins were increasing, raised its forecasts for the rest of the year, and announced a $300 million share buyback program.

Myriad Genetics ( MYGN ) develops molecular diagnostic testing and treatment for serious illnesses.

Oxygen Biotherapeutics ( OXBT ) and NQ Mobile ( NQ ) top the list of other companies with positive news today, while NPS Pharmaceuticals ( NPSP ) and Tesla ( TSLA ) top the list of companies with negative news.

IK-> The technicals for MYGN are bearish with a strong downward trend. It has no clear support and resistance at $27. The stock is up 4.3% today at $26.24. The company next reports earnings on February 4. Look at the December 21/23 bull-put spread for at least a $0.30 credit. Use Limit Orders. This trade has a target return of 17.6% and the stock has to fall 12.3% to cause a problem. [InvestorsKeyhole, Various news and data services]



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Originally published on InvestorsObserver.com


This article appears in: Investing , Options

Referenced Stocks: MYGN , NPSP , NQ , OXBT , TSLA

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