Sector Update: Health Care


Health-care shares were fairly flat in pre-market trade Thursday.

In health-care stocks news, Bristol-Myers Squibb Company ( BMY ) shares were up 1.6% pre-bell after the pharmaceutical company posted Q2 adjusted earnings that beat forecasts, while revenue came in line.

The company reported GAAP EPS fell 38% to $0.20, while non-GAAP EPS rose 9% to $0.48. On an adjusted basis, that beats analysts' forecasts for $0.44, according to Capital IQ.

And, Agenus ( AGEN ) shares were higher nearly 8% in recent pre-market trade after reporting a Q2 loss that wasn't as large as had been expected.

AGEN is trading in the lower half of the 52-week range between $2.27 and $5.27.

The immuno-oncology company said its Q2 loss was $7.7 million or $0.12 per share compared to a loss of $11.2 million or $0.40 the year earlier, and was better than the $0.17 loss expected by analysts polled by Capital IQ.

Also, CryoLife ( CRY ) has reported Q2 EPS that beat the Street view but total revenues that missed. The company has also lowered full-year revenue guidance. CRY was steady at $9.16 with a 52-week range of $6.01 to $12.14.

Finally, Celgene ( CELG ) was down about 1% after it reported Q2 results that beat the Street view on both EPS and total revenue and has raised guidance for full-year results.

The pharmaceutical company has reported Q2 EPS of $0.90, up from $0.76 in Q2 2013 and topping analyst estimates of $0.89. Total revenues of $1.87 billion were up from $1.59 billion in Q2 2013 and surpassed analyst expectations of $1.85 billion.

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: BMY , AGEN , CRY , CELG

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