Biogen Inc. (BIIB) fell -5.21% to $263.25. For the three months ended, the organization posted a profit, with increased competition impacting its multiple sclerosis treatment. Guidance for 2021 from the biotechnology firm is also small. Adjusted EPS finished at $4.58 for the three months and sales were $2.85 billion. The consensus, according to FactSet, was $4.78 EPS and $2.79 billion in billings. EPS was $8.34 for the same time this year, and revenues were $3.67 billion. The EPS is estimated to be between $17 and $18.5 for the year, while revenue is projected to be between $10.45 billion and $10.75 billion for the year.
Amgen Inc. (AMGN) fell -1.42% to $237.08. For the 2021 financial year, the US biotech giant released optimistic estimates. In contrast to consensus above $17, the company estimates adjusted earnings per share to range from $16 to $17 over the period. Annual sales, relative to a forecast of $26.4 billion, are projected to be between $25.8 billion and $26.6 billion. The company expects the sale rates of its drugs to fall further, as the pandemic is already impacting sales. Amgen posted adjusted earnings per share of $3.81 in the fourth quarter alone, which was well beyond consensus. Net earnings fell 3% to $2.76. Revenue rose to $6.6 billion, up 7 percent.
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Alibaba Group Holding Limited (BABA) increased to $263.43, up +3.51 percent. Bloomberg notes that Ant Group, a Fintech affiliate of the Chinese e-commerce group, has signed a deal with local regulators to turn itself into a financial holding firm.
After posting a more than halved profit for the three months, with lower asset disposals, Apollo Global Management, Inc. (APO) was up +2.52 percent to $50.12.
As it posted better-than-expected quarterly earnings, due to stronger margins, Capri Holdings Limited (CPRI) was up 2.53 percent to $43.81.
3M Corporation (MMM) jumped +0.26% to $175.48. Growing its dividend by 1%, the Minnesota manufacturing giant has just announced the addition of Dow CEO Jim Fitterling to the Board of Directors.