Early Tuesday, Teva Pharmaceutical (TEVA) reported adjusted earnings of 56 cents per share on $3.88 billion in second-quarter sales. In response, Teva stock jumped.
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On average, analysts polled by FactSet expected the pharma company to earn 53 cents per share on $3.71 billion in sales.
In the year-earlier period, Teva earnings were 68 cents per share and the company reported nearly $3.79 billion in sales.
For the year, Teva raised the low end of its sales outlook. The company now expects $15 billion to $15.4 billion in full-year sales. Teva stock analysts had called for adjusted earnings of $2.26 per share and $15 billion in sales.
In premarket trading on today’s stock market, Teva stock advanced 6.6% near 8.80. The move put Teva stock in line with its 200-day moving average, according to MarketSmith.com.
More to follow.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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