Teva Pharmaceutical Stock Surges on Q2 Results and Upcoming NYSE Listing
Teva Pharmaceutical (TEVA) saw its stock rise by approximately 12.3% over the last week of trading, outperforming both the S&P 500 (+0.2%) and Nasdaq Composite (+0.5%). The company reported mixed second-quarter results on July 29 after market close: while earnings per share came in below expectations at $0.02 (vs. an estimated $0.11), revenue of $4.1 billion exceeded analyst forecasts by about $70 million. Teva also provided updated full-year guidance, projecting adjusted EPS between $1.91 and $2.11 per share — slightly below the average estimate of $2.16 — but with sales expected to range from $16.5 billion to $16.85 billion (close to Wall Street's target). Additionally, Teva announced plans for a direct listing on the New York Stock Exchange starting September 14, which is intended to replace its ADRs and potentially attract institutional investors. The market reacted positively to these developments despite underwhelming earnings, with optimism centered around improved guidance and structural changes that could enhance investor appeal.
Tickers: $TEVA