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07/27/16 04:30:04 PM
MARKET SNAPSHOT

S&P Market Commentary

... THOUSAND OAKS, Calif. (AP) _ Amgen Inc. (AMGN) on Wednesday reported second-quarter profit of $1.87 billion. On a per-share basis, the Thousand Oaks, California-based company said it had profit of $2.47. Earnings, adjusted for non-recurring costs, were $2.84 per share. The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.74 per share. The world's largest biotech drugmaker posted revenue of $5.69 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $5.6 billion. Amgen expects full-year earnings in the range of $11.10 to $11.40 per share, with revenue in the range of $22.5 billion to $22.8 billion. Amgen shares have climbed 5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 6 percent. In the final minutes of trading on Wednesday, shares hit $170.41, a rise of nearly 3 percent in the last 12 months. This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMGN at http://www.zacks.com/ap/AMGN Keywords: Amgen, Earnings Report, Priority Earnings



 

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