Teva stock skidded early Wednesday after the generic drugs maker reported adjusted income of 71 cents per share on $3.88 billion in fourth-quarter sales.
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On average, analysts surveyed by FactSet expected Teva Pharmaceutical (TEVA) to earn 72 cents a share on $3.89 billion in sales.
During the year-ago period, Teva earned 77 cents per share on $4.1 billion in sales.
For the year, the company predicts adjusted earnings of $2.25-$2.55 per share and $14.8 billion to $15.4 billion in sales. Teva stock analysts had expected profit of $2.52 per share and $15.19 billion in sales.
In premarket trading on today’s stock market, Teva stock toppled 3.6% near 10.50. Shares were making something of a comeback with a Relative Strength Rating of 89, according to IBD Digital. This puts Teva stock in the top 11% of all stocks when it comes to 12-month performance.
More to follow.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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