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Article: Amgen's Stock Surges On Second-Quarter Surprise.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
In what historically might be one of Amgen Inc.'s top quarters, the company posted earnings per share of 88 cents and a net income of $1.1 billion, significantly exceeding consensus estimates and driving the company's stock up 15.1 percent.
"People do get excited when a big company like this just crushes the estimates," said analyst Eric Schmidt, of New York-based SG Cowen & Co. Inc.
Amgen's stock (NASDAQ:AMGN) rose $10.65 Wednesday to close at $81.17.
The company's EPS surprised analysts, who had estimated it at 72 cents per share. Amgen's adjusted EPS and net income figures represent a 42 percent increase and a 26 ...