News Formal

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

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Companies scheduled to report their results include Pfizer, GSK, Eli Lilly, and Novo Nordisk.

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: MarketWatch - 🏆 3. / 97 Read more »