Amgen Still Holds Long-Term Value

Amgen's (AMGN) shares have declined more than 12% since hitting a peak of $128.96 in late March. The vast majority of the decline is due to a sympathy selloff with the other Nasdaq highfliers. 

However, the first-quarter numbers were also light for the company. Revenue came in at $4.52 billion, compared with the consensus estimate of $4.75 billion. Earnings were also shy at a $1.87, compared with $1.93 for the consensus. Management did reiterate revenue and earnings guidance for the year of $19.2 billion to $19.7 billion and $7.90 to $8.20, respectively.  ...459 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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