Typically, when a publicly traded company reports an estimates-beating quarter, its stock price rises in reaction. There are always exceptions, though, and on Tuesday it was 's (NASDAQ: BIIB) turn to be atypical.

After Biogen published second-quarter figures that featured top- and bottom-line beats, the biotech's stock nevertheless took a hit. It sank by 2.4%; perhaps investors were concerned with the looming round of job cuts announced by the company.

There wasn't much to dislike in Biogen's quarterly earnings. It booked revenue of just under $2.46 billion, which -- although 5% beneath the result of the year-ago quarter -- handily beat the average prognosticator estimate of $2.37 billion.

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Source Fool.com