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Sector Update: Health Care

By: MT Newswires
Posted: 7/24/2014 8:44:00 AM
Referenced Stocks: BMY;AGEN;CRY;CELG

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.