Acquisition-hungry Valeant Pharmaceuticals (VRX) rose more than 5% in the stock market today to a record high, despite weak Q3 earnings guidance, after neatly stepping over analysts’ second-quarter revenue and earnings expectations. Valeant was one of several drugmakers and biotechs to report Thursday morning, including Celgene (CELG), Eli Lilly (LLY), Shire (SHPG) and Bristol-Myers Squibb (BMY) . The Laval, Quebec-based drugmaker said total
Earnings season is now in high gear, with all eyes on Apple’s (AAPL) report Tuesday. While the iPhone maker should deliver another quarter of solid profit and sales growth, Apple isn’t on the IBD 50 list of the very best stocks. In the coming week, eight companies from the elite IBD 50 are on tap to report earnings: Starbucks (SBUX), Alaska Air (ALK), Manhattan Associates (MANH), Illumina (ILMN), Celgene (CELG), Valeant Pharmaceuticals (VRX),
Tuesday’s announcement that Celgene (CELG) agreed to acquire Receptos (RCPT) pleased investors in those two stocks, but for investors in Gilead Sciences (GILD), which was rumored to be interested in Receptos, it means waiting on the edges of their seats. “Literally the only question I’m getting on Gilead is, ‘When and who are they going to buy?'” said Evercore ISI analyst Mark Schoenebaum Monday in a video recorded for clients. “The stock has