Why AstraZeneca, Ambev, and Nokia Jumped Today
Wall Street had a bad day on Thursday, as major benchmarks posted significant losses on fears that things might not work out as well for financial markets as most investors have seemed to think lately. Most still believe that central banks around the world, including the Federal Reserve and the European Central Bank, will keep their monetary policies accommodative to try to forestall an economic slowdown. Yet with stocks near all-time highs, today's move downward seemed to inject a sense of reality into the situation. Despite declines for the broader market, some companies saw their shares climb higher following favorable earnings reports. AstraZeneca (NYSE: AZN), Ambev (NYSE: ABEV), and Nokia (NYSE: NOK) were among the top performers. Here's why they did so well.
Shares of AstraZeneca jumped nearly 6% after the drugmaker announced its financial results for the second quarter. The company said that revenue climbed 13% compared to the year-earlier quarter, resulting in a modest 5% rise in core earnings per share. CEO Pascal Soriot pointed to five different new medicines that AstraZeneca expects to be blockbuster treatments this year, supporting both the oncology and biopharmaceuticals segments. With the company finding ways to get new treatments to market in a wide variety of areas, investors think things are starting to look up for AstraZeneca.
Image source: AstraZeneca.
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