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Mallinckrodt (MNK) Stock Spikes on Q3 Beat, Forecast

NEW YORK (TheStreet) -- Shares of Mallinckrodt (MNK) are jumping 11.33% to $75 on Tuesday morning after the company posted better-than-anticipated results for the 2016 fiscal third quarter and raised its full-year guidance.

Before today's opening bell, the Dublin-based specialty biopharmaceutical company posted adjusted earnings of $2.20 per diluted share, surpassing analysts' estimates of $2.01 per share.

Revenue rose 10.6% to $970.6 million from last year and was above analysts' projections of $921.8 million.

"Mallinckrodt's strong performance in the third...


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