At least 25 companies reported earnings last week. Shire plc (LSE:SHP; NASDAQ:SHPG) was up 7% last week, tacking on $2.3 billion in market cap. The biopharma reported earnings per ADS that beat the Street's estimate, thanks in part to a decline in non-GAAP R&D, and raised its 2014 earnings guidance. Also last week, Shire said it will acquire fibrosis play Fibrotech Therapeutics Pty. Ltd. for $75 million up front (see B5).

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) gained 3% last week, adding $508 million in market value. The biotech beat the Street's non-GAAP EPS estimate on lower-than-expected R&D and SG&A expenses and also reported Phase II data showing that once-daily VX-661 added to stable Kalydeco ivacaftor reduced sweat chloride and improved lung function in cystic fibrosis (CF) patients with both the delta F508 CF transmembrane conductance regulator (CFTR) mutation and G551D CFTR mutation (see B25).