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.
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