TEVA Beats Earnings, Up Premarket On Heavy Volume (TEVA)

Posted in pre-market 
July 27th, 2010

According to Reuters, Teva Pharmaceutical Industries Limited (NASDAQ: TEVA), the largest producer of generic drugs in the world, posted 2Q profits of $1.08/share, exceeding wall street predictions of $1.04/share. Sales were up 12% from the previous quarter, due largely to the addition of nine drugs to TEVA’s product line. At 8:17AM EDT, Teva Pharmacautical was up 2.37% to 51.24 in early trading. It is already at over 300 thousand shares in volume, making it the most heavily-traded stock this morning, behind only the NASDAQ ETF, QQQQ. TEVA has a 3m average volume of 8.5 million shares.

-Michael B. Sauter

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