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Actionable news in MNK: MALLINCKRODT PUBLIC LIMITED COMPANY,

Mallinckrodt Shares Tank, Despite Better-Than-Expected Earnings

Despite reporting better-than-expected earnings, Britain-based pharmaceutical firm Mallinckrodt plc (MNK) is tanking.

The company saw share prices fall more than 8% Tuesday, hitting $52.55 apiece after reporting earnings that beat analyst expectations. The plunge in the stock price is due in part, analysts say, to the company's decision to withhold guidance for fiscal year 2017.

The company reported adjusted earnings per share of $2.04, as compared to consensus estimates of $1.98 per share. Revenues for the fourth quarter were $887.2 million, as compared to consensus estimates of $851.1...


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