Google’s Quarterly Report, Biogen Marketing Applications Are Accepted, and 2 More Hot Stocks
Google Inc. (NASDAQ:GOOG): Google’s second-quarter earnings per share of $9.56 misses its projections by $1.22, and revenue of $11.1 billion misses the mark by $230 million. Ad prices continue to pose a challenge, falling 2 percent for the quarter and 6 percent for the year. Google Sites revenue, making up 68 percent of the total, rose 18 percent year-over-year, in line with the first quarter. Ad network revenue — another 24 percent of the total — grew just 7 percent, down from the 12 percent seen in the first quarter.
Biogen (NASDAQ:BIIB): Both the Food and Drug Administration and European Medicines Agency have accepted Biogen’s marketing applications for the subcutaneous multiple sclerosis treatment Plegridy, which is projected to rake in $318 million in sales by 2017. If approved, Plegridy could offer a less frequent dosing schedule, favorable safety profile, and the potential to become the preferred interferon treatment.
Intuitive Surgical (NASDAQ:ISRG): Shares a tanking down 12 percent as the company misses both earnings per share ($3.90 by 13 cents) and revenue ($579 million by $15.58 million), although it had an increase of 8 percent in total sales year-on-year. Its da Vinci surgical procedures grew approximately 18 percent year-over-year, driven primarily by growth in general surgery, U.S. gynecology and international urology procedures, which were partially offset by a decline in U.S. prostatectomy procedures. The company also cut its 2013 revenue guidance to 0-7 percent growth from 16-19 percent, fueling the big sell-off.
QIHOO 360 Technology Co. Ltd. (NYSE:QIHU): Qihoo is exploring the idea of buying the Sogou search unit from Sohu (NASDAQ:SOHU), although the negotiations are “not in the pricing stage yet,” the company reports. Analysts estimate the business would be worth $1.2 billion to $1.4 billion if the deal were to go through; however, Qihoo is still looking into potential integration issues that could make or break the offer.