Major Setback in Clinical Trials
The biopharmaceutical firm this morning reported its first major disappointment in the development of its experimental treatment for hepatitis C. The company said patients taking the drug, known as GS-7977, experienced relapses with the virus after 12 weeks of clinical trials. The drug was the primary reason for Gilead's $11 billion purchase of Pharmasset, which closed just last month. GILD is down 16.5 percent on tradeMONSTER's extended-hours platform.
SunPower Shines in Quarter, Outlook
The solar-panel manufacturer reported fourth-quarter adjusted earnings of $0.16 per share, crushing a consensus forecast that called for a loss of $0.05 per share. For 2012, management projected revenues of $2.6 billion to $3 billion, compared with analysts' expectations of $2.7 billion. SPWR is up 9.5 percent in the pre-market.
Applied Materials Surges on Earnings
The chip-making equipment company posted adjusted earnings of $0.18 per share for its fiscal first quarter after yesterday's close, beating the consensus target of $0.12 EPS. Revenues surpassed expectations as well, coming in at $2.19 billion versus the $1.97 billion that analysts had been looking for. Management projected earnings of $0.20 to $0.28 per share for the current quarter, well above the estimated $0.16 EPS. AMAT is up 6.5 percent this morning.
More From optionMONSTER
European stocks rose for a third straight session on Monday and the euro bounced back from two-year lows, as Greek …
There are no comments yet