Market Update: Regeneron, UPS, and Zebra
Regeneron (REGN) has seemingly overcome its bear phase, with shares rebounding from $550-$575 to over $650, a 12% jump, after reporting a 0.8% revenue increase to $3.75 billion.
The company posted strong sales of Dupixent, at $4.9 billion, which offset weak sales from EYLEA, although EYLEA HD sales grew by 42% to $663 million. Regeneron also lowered its R&D and SG&A expense forecast for the fiscal year.
- Regeneron (REGN): shares jumped 12% to over $650
- UPS: added 8.0% after posting non-GAAP EPS of $1.74 on revenue of $21.4 billion
- Zebra (ZBRA): continued downtrend, losing 11%
Stock markets rallied after UPS announced a massive 48,000 job cut, with 34,000 in operational units and 14,000 at the management level.
Author's summary: Stocks show mixed results after earnings reports.
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