Sector Update: Healthcare Stocks Lower; CBLI Slides 42% on Abandoned Development Plans

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Healthcare stocks:

JNJ: -0.24%

PFE: -0.03%

ABT: +0.03%

MRK: -0.68%

AMGN: -0.64%

Healthcare shares are generally trading lower in pre-market trade.

Baxter International ( BAX ) said its adjusted earnings remained flat at $1.26 per share, and exceeding the average Capital IQ analyst estimate by one cent. Sales rose 16% to $4.4 billion. Excluding the contribution of Gambro revenues in the quarter, sales rose 5% to $4 billion. Analysts had on average expected $4.2 billion in sales.

For Q1, Baxter expects sales growth of 13% to 14% and earnings before special items of $1.06 to $1.09, below the $1.14 average estimate.

And, Cleveland BioLabs ( CBLI ) is down more than 40% pre-market after Biomedical Advanced Research and Development Authority ended negotiations to develop a medical radiation countermeasure.

Finally, Exelixis, Inc. ( EXEL ) is about 1% lower as cancer-focused healthcare firm said late Wednesday that it plans to offer 10 million shares of its common stock in an overnight underwritten public offering.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: BAX , CBLI , EXEL

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