Drug Stocks Keep Falling on Earnings. It Could Be a Long Week.

Investors have been hating what drugmakers have to say about their financial results and their corporate strategies.

All of those drops were just bumps in the road compared with the rout in Sanofi shares on Friday. The company reported earnings, with financial guidance that was lower than expected, while announcing plans to separate from its consumer-health division. The company’s American depositary receipt dropped 19%, erasing more than $20 billion in market value.

“Pharma… again showcased its unreliability as a defensive” play, Asad Haider, head of U.S. healthcare research and sector strategist at Goldman Sachs, wrote in a Monday note.

Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Hong Kong stocks climb for second day as Japanese stocks dropSupported by world-class markets data from Dow Jones and FactSet, and partnering with Automated Insights, MarketWatch Automation brings you the latest, most pertinent content at record speed and with unparalleled accuracy.
Herkunft: MarketWatch - 🏆 3. / 97 Weiterlesen »