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Table: EPS watch
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Monday, March 3, 2014
At least 20 companies reported earnings last week. Questcor
Pharmaceuticals Inc. (NASDAQ:QCOR) fell 21%, losing nearly $1 billion in
market value, after posting 4Q13 revenues that missed the Street's estimate. In
addition, Citron Research said the company's autoimmune drug H.P. Acthar Gel
repository corticotropin injection faces "severe risk of being pulled off
the market by FDA." Citron cites analysis by a contract laboratory that
found the product contained little or none of the active pharmaceutical
Medivation Inc. (NASDAQ: MDVN) fell 16%, losing
$1 billion in market value, after providing 2014 U.S. net sales guidance for
Xtandi enzalutamide of $500-$535M, below the analyst consensus estimate (see
"Analyst Picks," A20). The cancer drug is partnered with Astellas
Pharma Inc. (Tokyo:4503).
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