Gilead Sciences shares are trading lower after the company reported worse-than-expected Q4 adjusted EPS results and issued FY24 revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Gilead Sciences' shares dropped following the announcement of disappointing Q4 adjusted EPS results and a forecast for FY24 revenue that falls short of expectations.
February 07, 2024 | 3:27 pm
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Gilead Sciences' shares declined due to poor Q4 earnings and lower than anticipated FY24 revenue guidance.
The negative reaction in Gilead Sciences' stock price is directly tied to the company's financial performance falling short of market expectations. Poor quarterly earnings and pessimistic revenue guidance typically lead to a decrease in investor confidence, resulting in a drop in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100