Join us in exploring the top gainers and losers within the S&P500 index one hour before the close of the markets on Friday as we examine the latest happenings in today's session.
Shares of pharmaceutical company AbbVie (NYSE:ABBV) jumped 3.7% in the afternoon session after the company posted strong second-quarter earnings that beat expectations and raised its full-year financial forecast. The pharmaceutical giant disclosed adjusted earnings of $2.97 per share and revenues of $15.42 billion, both numbers surpassing analyst estimates. This performance was driven by robust sales from its immunology drugs, Rinvoq and Skyrizi, which successfully offset lower sales from the company's older drug, Humira. Confident in its momentum, AbbVie lifted its full-year guidance for both revenue and adjusted earnings per share. In response to the strong results, analysts at firms including Morgan Stanley and Raymond James increased their price targets on the stock.
President Donald Trump has issued a 60-day ultimatum to 17 major pharmaceutical companies, demanding that they lower drug prices in the U.S. or face severe consequences.
AbbVie posted $15.42 billion in Q2 revenue, topping estimates, with strong immunology and neuroscience growth, while full-year earnings guidance was raised.
For the full year, the company raised its adjusted and diluted earnings per share guidance to $11.88 to $12.08, up from its previous guidance of $11.67 to $11.87.
Pharmaceutical company AbbVie (NYSE:ABBV) announced better-than-expected revenue in Q2 CY2025, with sales up 6.6% year on year to $15.42 billion. Its non-GAAP profit of $2.97 per share was 2.1% above analysts’ consensus estimates.
The potential acquisition follows a 2023 licensing partnership between the two companies and comes after Gilgamesh reported promising trial results for its depression drug, GM-2505.
