Gilead's Q2 results exceeded expectations on revenue and eps, but the company lowered estimates of full-year product sales. The market was disappointed by slowing HCV sales. While total product sales were flat Q/Q, HCV sales fell by 7 percent. As HCV sales growth has waned, so has interest in GILD. Over the past 12 months GILD is down over 30 percent versus a 4 percent gain for the S&P 500 (NYSEARCA:SPY).
