Actionable news
All posts from Actionable news
Actionable news in GILD: Gilead Sciences, Inc.,

Drug Stocks Q2 Earnings Releases On Jul 26: GILD, VRTX, GSK

We are entering the peak period of the second-quarter reporting cycle this week. The quarter, undoubtedly, is off to a strong start.

As of Jul 21, 2017, 97 S&P 500 members, accounting for 28.1% of the index’s total market capitalization, reported results, according to Earnings Preview. Of these, 59.8% beat both revenues and earnings estimates compared with 50.5% in the first quarter.

Total earnings for these 97 index members were up 8.4% from the year-ago quarter on a 5.1% improvement in revenues. The beat ratio was 78.4% for earnings and 72.2% for revenues.

The earnings momentum is expected to continue through the season. Per the report, total earnings for S&P 500 companies in the second quarter are expected to grow 8.6% year over year on 4.7% higher revenues. This follows 13.3% earnings growth in the first quarter on 7% increase in revenues, the highest in almost two years.

Among the pharma bigwigs, Johnson & Johnson (JNJ - Free Report) J&J reported mixed second-quarter results, beating on earnings but missing on sales. On the other hand, Novartis’ (NVS - Free Report) second-quarter results were encouraging as the company topped both earnings and sales estimates. On Jul 25, Lilly (LLY - Free Report) and Biogen Inc. (BIIB - Free Report) released their second quarter results. Both the companies beat earnings and revenue estimates. Lilly raised its previously issued 2017 adjusted earnings and sales...