Volume Spike Investor

Gilead Sciences Inc. (Nasdaq: GILD) shares fell more than 3 percent to $46.77 in early premarket trading of about 6,000 shares. The company posted earnings last night that beat expectations, but it said on a conference call that  U.S. wholesalers may decrease inventory levels of the company’s HIV drugs Atripla and Truvada in the second half of the year, in response to the company’s decision to raise prices. Second-quarter earnings of 65 cents a share beat consensus by 4 cents. Revenue rose 29 percent from the same period a year earlier to $1.65 billion, vs. consensus expectations of $1.6 billion. Sales of both Atripla and Truvada were better than consensus expectations. — Mike Tarsala