If ever an example was needed of the old axiom “buy the rumor, sell the news,” then Gilead Sciences (GILD) could be used as its poster boy.Following a surge which saw the healthcare giant’s share price appreciate by 30% in 2020, the stock was sold off in Friday’s session, dropping nearly 4% following the release of the company’s earnings results. The sell off was triggered by a slew of downgrades from the Street.So, was Gilead’s Q1 earnings that bad? Nope, the company posted beats on both top and bottom line. Revenue of $5.55 billion indicated a 5.1% year-over-year increase and …read more
Source:: Yahoo Finance
