Why Teva Pharmaceutical Industries, MercadoLibre, and XL Group Jumped Today
The stock market soared on Monday, with major benchmarks finishing higher by 1% or more following a weekend that featured somewhat less devastation than many had feared. Hurricane Irma spent most of the weekend working its way toward and up the Florida coast, but a change in its course shifted some of the focus from major metropolitan areas on the eastern side of the state. At the same time, geopolitical problems showed signs of calming down as well, with a lack of provocative news out of North Korea. Even with markets sharply higher, some stocks stood out with still more impressive gains. Teva Pharmaceutical Industries (NYSE: TEVA), MercadoLibre (NASDAQ: MELI), and XL Group (NYSE: XL) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.
Shares of Teva Pharmaceutical Industries climbed nearly 20% after the drug company said that it had selected a new chief executive officer. Kare Schultz will take over as CEO of Teva, bringing extensive experience that includes a stint as CEO of drug-making peer Lundbeck. Teva board chair Sol Barer pointed to Schultz's "keen knowledge of the generic and specialty drug markets" as being of particular value to the company, which sports businesses in both markets. Interim CEO Yitzhak Peterburg will stay in the role until Schultz can formally join Teva, at which point the new chief executive will face the uphill battle of getting Teva's positive momentum re-established.
Image source: Teva Pharmaceutical Industries.
Source: Fool.com
Teva Pharmaceutical Industries Ltd ADR Stock
With 11 Buy predictions and not the single Sell prediction the community is currently very high on Teva Pharmaceutical Industries Ltd ADR.
With a target price of 13 € there is a slightly positive potential of 1.17% for Teva Pharmaceutical Industries Ltd ADR compared to the current price of 12.85 €.
