Sector Update: Health-care Shares Flat in Pre-Market Trading; Amgen Up 3% on Positive Kyprolis Data


Top Health-care stocks:

JNJ: flat

PFE: flat

ABT: flat

MRK: flat

AMGN: +3.39%

Health-care shares were generally flat in pre-market trading Monday.

Amgen ( AMGN ) shares were about 3% higher pre-market after the biotechnology company said an interim analysis of data from its Phase 3 clinical trial on Kyprolis to treat patients with relapsed multiple myeloma met the primary endpoint of progression-free survival. AMGN is trading near the upper end of the 52-week range between $103.31 and $131.24.

Alere ( ALR ) reported Q2 sales and earnings that missed analysts' estimates. The provider of point-of-care diagnostics and services said non-GAAP adjusted income fell to $0.42 per diluted share from $0.64 the year earlier, missing the $0.58 average estimate from analysts polled by Capital IQ. Sales slipped to $739.9 million from $764.0 million, short of the $748 million consensus.

Symmetry Medical ( SMA ) reported fiscal Q2 earnings that were ahead of analysts' expectations. The provider of medical device solutions, including surgical instruments, orthopedic implants, and sterilization cases and trays said adjusted non-GAAP earnings from continuing operations in the quarter ended June 28 rose 70% to $0.17, exceeding the $0.12 average estimate from analysts polled by Capital IQ.

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.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: AMGN , ALR , SMA

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