Why Mallinckrodt Stock Is Soaring Today
Shares of Mallinckrodt (NYSE: MNK) are soaring today, up 12.1% as of 11:30 a.m. EST. This big jump seems to stem from investors' anticipation of better-than-expected results when the drugmaker reports its third-quarter update tomorrow morning, as well as general stock market optimism.
Buying any stock based on a gut feeling for how the company's next quarterly results will turn out isn't a good idea. You might be right, but you could just as easily be wrong. The more important thing to focus on is a company's business prospects.
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Source Fool.com
