3 Stocks to Watch on Friday: Amgen, Inc. (AMGN), Gilead Sciences, Inc. (GILD) and TiVo, Inc. (TIVO)

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It was a poor day for U.S. stocks, as large tech companies including Apple Inc. (NASDAQ:AAPL) dropped following disappointing earnings, carrying the market down with them. Thursday’s final results: A 0.9% tumble for the S&P 500, and a 1.1% dip for the Dow Jones Industrial Average.

3 Stocks to Watch on Friday: Amgen, Inc. (AMGN), Gilead Sciences, Inc. (GILD) and TiVo, Inc. (TIVO)The quarterly earnings reports keep coming, which will be driving the results in Amgen, Inc. (NASDAQ:AMGN) and Gilead Sciences, Inc. (NASDAQ:GILD) today. TiVo Inc. (NASDAQ:TIVO) will be on the move, too, but thanks to some dealmaking.

Here’s what they did in their most recent period:

Gilead Sciences, Inc. (GILD)

GILD shares were on the decline following a disappointing quarterly report for Gilead Sciences.

First-quarter earnings amounted to $2.53 per share, though the figure was $3.03 on an adjusted basis — missing estimates of $3.12 per share. Revenues improved by just 4% to $7.79 billion, which fell shy of analyst expectations for $8.13 billion.

The quarterly tumble taken by Gilead Sciences is linked to a decline in the company’s hepatitis C drugs, which are among its key products. Harvoni sales declined 16% to $3.02 billion, disappointing analysts. Wall Street also expected more than Sovaldi’s 31% improvement to $1.27 billion.

GILD was on pace to drop 5% in Friday’s action.

TiVo Inc. (TIVO)

TiVo was on the rise after news that digital entertainment tech firm Rovi Corporation (NASDAQ:ROVI) will buy out the DVR company for $1.1 billion in a cash-and-stock deal.

TIVO shareholders will receive $2.75 per share in cash, with the rest to be paid out in shares of common stock of the combined entity. According to a press release, the “offer represents a premium of approximately 40 percent over TiVo’s closing price of $7.66 on March 23, 2016, the last trading day prior to media speculation about a possible transaction.” At that point in Rovi’s interest, TiVo was worth about $750 million.

However, despite Rovi being the buyer, the new company will take on the TiVo moniker.

TIVO shares were up 5% in Friday’s premarket trade, as were ROVI’s.

Amgen, Inc. (AMGN)

Amgen had a Thursday to smile as the company beat estimates with its fiscal first-quarter report.

The company posted adjusted earnings of $2.90 per share, exceeding the Wall Street consensus estimate of $2.56 by a considerable margin. Meanwhile, revenues of $5.5 billion topped the $5.362 billion predicted by analysts. The figure represented 9.8% growth in sales, powered largely by Enbrel and Xgeva, among others.

Also pleasing investors was a boost in outlook. Amgen previously was looking for earnings of $10.60 to $11 per share on revenues of $22 billion to $22.5 billlion. Now, it’s looking for EPS of $10.85 to $11.20 on sales of $22.2 billion to $22.6 billion.

AMGN shares were up 1% in Friday’s premarket trading.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/04/3-stocks-to-watch-on-friday-amgen-inc-amgn-gilead-sciences-inc-gild-and-tivo-inc-tivo/.

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