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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Gilead Sciences, Inc.    GILD

GILEAD SCIENCES, INC.

(GILD)
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Wall St gains as Gilead data offsets virus fears; Dow leads gains

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07/10/2020 | 03:06pm EDT

(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.)

* Carnival rises on plan to resume trips in phases

* Netflix rises after Goldman Sachs PT raise

* Dow rises 1.2%, S&P 500 up 0.8%, Nasdaq up 0.2% (Updates to late afternoon)

July 10 (Reuters) - U.S. stocks rose on Friday as a positive update from Gilead Sciences Inc's antiviral drug to treat COVID-19 countered nerves over a record rise in coronavirus cases in the United States that threatens to further impact companies.

Gilead's remdesivir significantly improved clinical recovery and reduced the risk of death in COVID-19 patients, additional data from a late-stage study showed. The drugmaker's shares rose 2.3% as it said the finding required confirmation in clinical trials.

The United States registered the largest single-day increase in new COVID-19 infections globally for the second day in a row on Thursday, forcing Americans to take new precautions. Several states have already backpedaled on reopening plans.

In a reversal of the recent trend, the Dow and S&P 500 were sharply outperforming the Nasdaq, which on Thursday registered its fifth record closing high in six days.

"We're seeing I think some rotation from winners into the laggards here today. And we've seen that gap widen quite a bit between the leaders and laggards over the last week, so I think it makes sense there's a little profit-taking in that trade especially heading into earnings season," said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management in Seattle.

Bank of America Corp, Citigroup Inc, JPMorgan Chase & Co and Goldman Sachs rose ahead of their financial results next week, which would mark the onset of the second-quarter earnings season.

Overall profits for S&P 500 companies are expected to have fallen the most in the second quarter since the financial crisis, according to IBES data from Refinitiv.

A slate of economic data, including a record monthly payrolls addition, has pointed to a revival in business activity in June, fueling the U.S. stock market's stimulus-driven rally.

The S&P 500 has risen more than 40% from its March lows and stands about 8% below its record high hit in February.

The Dow Jones Industrial Average rose 312.93 points, or 1.22%, to 26,019.02, the S&P 500 gained 24.59 points, or 0.78%, to 3,176.64 and the Nasdaq Composite added 25.62 points, or 0.24%, to 10,573.37.

Carnival Corp jumped 10.2% after the cruise line operator said it was planning to resume operations in a phased manner and would operate with a smaller fleet on its return.

Netflix Inc rose 7.6% after Goldman Sachs hiked its price target on the video streaming service's shares.

Advancing issues outnumbered declining ones on the NYSE by a 2.37-to-1 ratio; on Nasdaq, a 1.30-to-1 ratio favored advancers.

The S&P 500 posted 17 new 52-week highs and no new lows; the Nasdaq Composite recorded 80 new highs and 17 new lows. (Additional reporting by Medha Singh and C Nivedita in Bengaluru; Editing by Marguerita Choy and Maju Samuel)

Stocks mentioned in the article
ChangeLast1st jan.
CITIGROUP INC. 0.76% 50.39 Delayed Quote.-36.93%
DJ INDUSTRIAL 0.89% 26664.4 Delayed Quote.-7.39%
GILEAD SCIENCES, INC. 3.16% 71.73 Delayed Quote.10.39%
JPMORGAN CHASE & CO. -0.56% 96.1 Delayed Quote.-31.06%
NASDAQ 100 1.37% 11055.076191 Delayed Quote.26.59%
NASDAQ COMP. 1.47% 10902.797333 Delayed Quote.21.51%
NETFLIX, INC. 1.99% 498.62 Delayed Quote.54.10%
S&P 500 0.72% 3294.61 Delayed Quote.1.98%
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Financials (USD)
Sales 2020 24 130 M - -
Net income 2020 2 800 M - -
Net Debt 2020 11,3 M - -
P/E ratio 2020 39,5x
Yield 2020 3,77%
Capitalization 87 217 M 87 217 M -
EV / Sales 2020 3,61x
EV / Sales 2021 3,54x
Nbr of Employees 11 800
Free-Float 99,4%
Chart GILEAD SCIENCES, INC.
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Gilead Sciences, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends GILEAD SCIENCES, INC.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 80,16 $
Last Close Price 71,73 $
Spread / Highest target 35,2%
Spread / Average Target 11,8%
Spread / Lowest Target -13,6%
EPS Revisions
Managers
NameTitle
Daniel P. O'Day Chairman & Chief Executive Officer
Andrew D. Dickinson Chief Financial Officer
William A. Lee Executive Vice President-Research
Merdad V. Parsey Chief Medical Officer
George Pratt Shultz Director-Emeritus
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