Amgen, Amgen Biogen Cell, Michael Year Jeffries discussed on CNBC's Fast Money


I know you're saying it wasn't expected, but there was enthusiastic about something. All right now to an earnings alert on Amgen, it's higher in the after hours session, let's get to metro with Wall Street is saying about that report, hey, Meg. Hey, our just listening to the goal here on the biotech blue phone other still in the opening session, not getting to the questions adjust yet. It was a pretty strong quarter for him in the second quarter beat on both the top and bottom lines, and they raised their guidance. I'll let's take a quick look at what the analysts are saying. We've got a couple of comments here. I from JP Morgan's, Corey chasm of calling it a solid beaten raise for the quarter that really echoed by a few other analysts Michael year Jeffries calling it classic Amgen saying they do this better than anyone, Chris Raymond over a piper saying like clockwork Amgen, just finds away a Baird's, Brian scorn. Also telling me that other biotechs, he says, should take notes, meaning other biotechs that swing back and forth between fifty two week highs and lows on results should figure out how to be just as slow and steady as Amgen. There was some news also in executives at Amgen. We've learned that their head of RND Shaun Harper is going to retire as as well as their head of commercial, Tony, Hooper, Sean harpers. Is retiring. I think today he's being taken over his, his job is being taken over and in September. Hooper is moving on being replaced by. Murdo Gordon from Bristol, Myers. I'm we'll also note that Amgen is the fourth big biotech to report earnings, rounding out a very solid quarter for all of these Amgen Biogen cell gene and Gillian find, and of course getting hit because of the Alzheimer's data, but it's quarter actually looked really good something that Michael Ye from Jeffries noted for us. Now back over to Bank. Thanks Mike Terrell. What do we do with biotech here? Interesting. So we've been bullshit. I'm gennabra she'd met Tig amid an all time high back to the beginning of this year to one or so. We're basically up against it now. That's, I guess, the good news. So this is the way I look at it. They beat the quarter of this is the second quarter that beat by twenty eight cents. They raise the lower end of guidance by fifty. That's fine. But the only raise the upper in a guidance basically that Twenty-eight cents. So take that for what it's worth valuation is fair. They're buying back stock, but you've seen tremendous moves to the upside Amgen, and you've seen the exact same moves to the downside in the same amount of time. So I think we're sort of at the top end of the range if you've been long the stock for the last couple of. I think you absolutely have to take profit highs. Interesting. You say that look at vertex say they put up a good print sold on the news. I wouldn't be surprised to see a cell in the new scenario tomorrow morning. It's going to be interesting to see how it reacts tomorrow. A lot of these big cap names had a big run up into earnings and then it's a cell in the news event. See, all right. So had checkout shares of Amazon around three percent, touching all time high and the barriers the company conference call starting in just a few minutes. We'll bring you the very latest. I'm Melissa Lee, you're watching fast. CNBC person BusinessWorld live in the meantime, here's what else is coming up on fast. Cool. Cool. One hundred twenty billion dollars because that's about how much Facebook loss today. So it said now about you by, but Dina valuation will win. Plus traders are expecting a huge move from Twitter when it reports earnings tomorrow, and we'll tell you which direction when pest bunny returns..

Coming up next