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Stocks rallied on Friday, boosted by a strong earnings report from Apple. All the major averages rose more than 2%, with the Dow climbing more than 800 points to secure its sixth straight day of gains.

While Apple gave a lift to the overall market, Amazon (AMZN) created a significant headwind. Shares of the online retailer dropped in the wake of its quarterly report.

Edwards Lifesciences (NYSE:EW) suffered downward pressure following its quarterly update as well, slumping to a new 52-week low.

Looking at some of the day’s standout earnings winners, DexCom (DXCM) and Gilead Sciences (GILD) both surged on their respective financial figures.

Standout Gainer

Street-topping results prompted a buying spree in DexCom (DXCM). Shares jumped more than 19% on the session.

The maker of glucose monitoring systems reported net income that climbed 16% from last year, led by an 18% rise in revenue. The firm topped projections on both the top and bottom lines.

DXCM finished Friday’s trading at $120.87, an advance of $19.62 on the session. With the advance, the stock reached its highest level since April. Shares are now 81% above a 52-week low of $66.89 reached in June.

Standout Decliner

Amazon (AMZN) lost ground after its quarterly update showed sluggish revenue growth. While the stock cut its losses before the close, shares of the online retailer ended lower by about 7%.

The company’s quarterly profit exceeded projections but its revenue figure came up short. The top line rose nearly 15% to $127.1B, missing estimates by $370M.

Looking ahead, the company projected net sales between $140B and $148B for Q4, below the current consensus of $155.4B. Meanwhile, AMZN gave a wide range for its profit figure, saying its operating income “is expected to be between $0 and $4.0 billion.”

The weak earnings report sent AMZN to a new intraday 52-week low of $97.66 early in the session, with the stock plunging 12% soon after the opening bell. Shares recovered as the day went on, with the stock eventually closing at $103.41. This represented a decline of $7.55 on the day.

With the partial recovery during the session, AMZN avoided setting a new closing low for the year. That came on June 14, when the stock ended at $102.31. Still, shares remain 39% lower for 2022 as a whole.

Notable New High

Gilead Sciences (GILD) rode a strong quarterly update to a new high, with better-than-expected earnings and a raised guidance sparking a 13% rise in the company’s stock.

GILD easily topped projections with its Q3 profit. The firm’s revenue declined about 5%, but the total of $7.04B still came in above analysts’ projections by $910M.

The revenue decline came as sales of its COVID treatment Veklury plunged 52%. Excluding this drug, total product sales jumped 11%.

Looking ahead, the firm raised its 2022 outlook, saying it now expects a figure between $25.9B and $26.2B. Previously, the company predicted a number of $24.5B-$25B.

Based on the results, GILD climbed to an intraday 52-week high of $79.61. Shares ticked off that peak before the close but still finished at $79.27, an advance of $9.07 on the day.

The stock has been rising steadily since late September and has now turned positive for 2022. GILD has climbed 26% in the past month and is up 9% since the end of 2021.

Notable New Low

Weak results and downbeat guidance sent Edwards Lifesciences (EW) spiraling. The stock fell nearly 18% to reach a new 52-week low.

The firm posted Q3 non-GAAP EPS of $0.61, a penny below analysts’ expectations. Revenue advanced a little less than 1%, failing to top projections with a total of $1.32B.

Looking ahead, the company now sees an adjusted EPS figure of $2.40 to $2.50 for 2022. Analysts were predicting a result of $2.52.

Dragged down by the results, shares dropped $15.43 to close at $70.87. During the session, shares reached an intraday 52-week low of $69.70. In total, EW has fallen about 45% in 2022.

For more of the day’s biggest winners and losers, click over to Seeking Alpha’s On The Move section.

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