Gilead Sciences Stock News

Gilead Sciences, Inc. (NASDAQ:GILD ) Q2 2024 Earnings Conference Call August 8, 2024 4:30 PM ET Company Participants Jacquie Ross - Vice President, Investor Relations Daniel O'Day - Chairman and Chief Executive Officer Johanna Mercier - Chief Commercial Officer Merdad Parsey - Chief Medical Officer Andrew Dickinson - Chief Financial Officer Cindy Perettie - Executive Vice President, Kite Confer...

Gilead stock is nearing a breakout after the company reported better-than-expected second-quarter sales and profit.

Gilead Sciences on Thursday reported second-quarter profit that handily beat Wall Street estimates, driven by lower operating expenses and higher product sales, and the drugmaker raised its outlook for full-year earnings.

This marks the last peak week of the Q2 earnings season with 3,908 companies expected to report. Earnings have come in better-than-expected, but tend to be overshadowed by economic data. Outlier earnings this week include: CSX, CAT, and VFC.

After a disastrous performance in the first half of 2024, Gilead Sciences stock has rebounded strongly since mid-June. With Gilead Sciences due to report its Q2 results on Thursday, it's a good time to assess what we can expect and whether the rebound was justified. I will specifically discuss Gilead's novel GLP-1 receptor agonist, GS-4571, and other news that has emerged recently.

Abbott Laboratories and Gilead Sciences are solid dividend stocks. Both look a bit pricey relative to their recent financial results.

The growth and tech-heavy Nasdaq 100 index is in something of a significant correction at the moment. After hitting new all-time highs early in July, the benchmark Invesco QQQ ETF (NASDAQ: QQQ ) has already pulled back close to 10% from its recent peak.

In the bustling world of biotechnology, innovation remains the cornerstone of growth. Some biotech stocks, known for their groundbreaking research and rapid adaptation to health challenges, are particularly well-positioned to do well in the future.