What Mylan Has In Common With The Word Disaster
Shares of U.K.-based generic drug player Mylan NV (MYL) are trading all over the map on Wednesday following an earnings report that can only be characterized with one word: disaster.
The stock has been down as much as 8.8% in pre-market trading to turning positive for a flash this morning, after the company spooked investors with not just its lack of earnings for the quarter, but also with a dismal forward guidance. Mylan said earnings came in at $1.10 per share, which was well below Wall Street consensus estimates of $1.16 per share, and revenue came in at $2.96 billion, also below estimates of $3.04 billion.
The stock has been down as much as 8.8% in pre-market trading to turning positive for a flash this morning, after the company spooked investors with not just its lack of earnings for the quarter, but also with a dismal forward guidance. Mylan said earnings came in at $1.10 per share, which was well below Wall Street consensus estimates of $1.16 per share, and revenue came in at $2.96 billion, also below estimates of $3.04 billion.