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Actionable news in MNK: MALLINCKRODT PUBLIC LIMITED COMPANY,

Here's Why Mallinckrodt (MNK) Stock Is Surging Today

NEW YORK (TheStreet) -- Mallinckrodt (MNK - Get Report) stock is up by 7% to $64.96 in mid-morning trading on Tuesday, after the company reported better-than-expected 2016 second quarter financial results and raised its full-year guidance.

Before the market open, the biopharmaceutical company reported adjusted earnings of $2.01 per share, beating analysts' estimates for $1.73 per share.

Revenue increased by 12% year-over-year to $918 million for the quarter, coming in above analysts' estimates for $871.5 million.

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