At least 18 biotechs and pharmas reported earnings last week. Gilead Sciences Inc. (NASDAQ:GILD) added nearly $6 billion to its market cap last week, while fellow big biotech Amgen Inc. (NASDAQ:AMGN) lost more than $3 billion. Gilead blew away the Street's EPS and revenue estimates as the first full quarter of Sovaldi sofosbuvir sales came in at $2.3 billion. According to Deutsche Bank's Robyn Karnauskas, the Street expected $1 billion in sales for the HCV drug, which Gilead launched last December. Amgen missed analyst consensus EPS and revenue estimates partly due to lower-than-expected sales of autoimmune drug Enbrel etanercept.

AstraZeneca plc (LSE:AZN; NYSE:AZN) ended the week up 8%, tacking on $6.5 billion in market value. AZ shares gained 9% last Monday following media reports that the pharma was previously in talks to be acquired by Pfizer Inc. (NYSE:PFE). According to the reports, the pharmas are no longer in negotiations. AZN reported 1Q14 EPS on Thursday that missed the Street's EPS estimate.