Amgen Stock Slides on Lowered Guidance
Amgen(AMGN) Investopedia·2024-08-07 23:21Key TakeawaysAmgen shares fell 5% Wednesday after the drug developer lowered its full-year earnings guidance.Second-quarter revenue jumped 20% year-over-year to $8.4 billion, slightly above expectations, driven by Amgen's October acquisition of Horizon Therapeutics.However, earnings dropped from the year-ago period and missed estimates as costs rose. Amgen (AMGN) shares tumbled 5% Wednesday after the drug developer lowered its full-year earnings guidance. The company said it now expects full-year diluted ea ...