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Some Pre-Earnings Release Observations About Gilead Sciences

Background: After adding about $135 B in market cap from its value before it announced in late 2011 the acquisition of Pharmasset for its sofosbuvir anti-hepatitis C drug (which became immense success called Sovaldi), the stock of Gilead Sciences (NASDAQ:GILD) has spent the past five months churning. The stock hit its all-time high three months ago during the AbbVie (NYSE:ABBV) conference call. This past Friday, AbbVie held its Q4 conference call. Almost as if it had been scheduled, GILD shares sold off - but then rebounded to finish up while the overall market (NYSEARCA:SPY) plunged. That price action in GILD could be a good sign that GILD has resumed its…