Gilead stock falls after company's earnings miss
Shares of Gilead Sciences Inc. fell 3% in the extended session Monday after the pharma company reported mixed fourth-quarter results, with adjusted earnings coming in below Wall Street expectations. Gilead said it earned $3 million, breaking even on a per-share basis, versus a net loss of $3.9 billion, or $2.96 a share, for the same period in 2017. Revenue fell to $5.8 billion, compared with $5.9 billion a year ago. Adjusted for one-time items, Gilead earned $1.9 billion, or $1.44 a share, compared with $2.3 billion, or $1.78 a share, a year ago. Analysts polled by FactSet had expected adjusted quarterly earnings of $1.70 a share on sales of $5.5 billion. In a separate press release, Gilead said its board of directors OK'd an 11% increase in the company's dividend, resulting in a dividend of 63 cents a share payable March 28 to shareholders of record on March 15. Shares of Gilead had ended the regular trading day flat. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.