Why Teva Pharmaceutical Stock Is Soaring Today
Shares of Teva Pharmaceutical (NYSE: TEVA) are surging on Wednesday. The company's stock is up 9.2% as of 1:15 p.m. ET and was up as much as 9.5% earlier in the day. The leg up comes as the S 500 is up 0.4% and the Nasdaq Composite is losing 0.1% on the day so far.
The Israel-based pharmaceutical company reported strong Q1 earnings today and raised its full-year profit guidance.
Teva reported Q1 adjusted earnings per share (EPS) of $0.52, solidly beating Wall Street's target of $0.48. The company missed on sales, however, reporting $3.89 billion for the quarter when $4 billion was expected.
Source Fool.com
