We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
AstraZeneca (AZN) CEO Rumor Reportedly Ends, Shares Rise
Read MoreHide Full Article
AstraZeneca plc’s (AZN - Free Report) shares rose almost 5% on Friday after the company reportedly confirmed that its chief executive officer (CEO) Pascal Soriot is not quitting the company to join the generic drug-maker, Teva Pharmaceutical Industries Limited (TEVA - Free Report) .
AstraZeneca’s shares have impressively outperformed the Zacks classified Large Cap Pharma industry so far this year. The stock has jumped 24% compared with the broader industry’s increase of 11.8%.
We remind investors that last week on Thursday, AstraZeneca’s shares lost more than 4% after it was reported by an Israeli business newspaper Calcalist that Pascal Soriot will be filling in the shoes of Teva’s former CEO, Erez Vigodman, who stepped down in February.
However, AstraZeneca reportedly confirmed on Friday that Soriot will present the company’s earnings on July 27, which indicates the CEO is still with AstraZeneca. Teva’s shares dropped almost 4% on Friday.
Notably, Pascal Soriot has been serving AstraZeneca as a CEO since Oct 2012. Earlier, he served as the chief operating officer (COO) at Roche Pharmaceuticals (RHHBY - Free Report) from 2010 to Sep 2012. Before that, he also served as the CEO of Genentech, where he led its successful merger with Roche.
Teva has been searching for a permanent CEO, which remains the company’s “highest priority.” Chairman Sol Barer, at the first quarter conference call, said that the company is looking for a top-notch CEO with “deep and broad pharmaceutical experience.”
Michael McClellan, CFO of the Global Specialty Medicines division, started serving as the Interim CFO, since Jul 1, 2017.
Sanofi’s earnings per share estimates nudged up from $3.08 to $3.18 for 2017 and from $3.26 to $3.30, over the last 60 days. The company delivered positive earnings surprises in two of the four trailing quarters with an average beat of 5.10%. Sanofi’s shares have rallied 19.1% so far this year.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
AstraZeneca (AZN) CEO Rumor Reportedly Ends, Shares Rise
AstraZeneca plc’s (AZN - Free Report) shares rose almost 5% on Friday after the company reportedly confirmed that its chief executive officer (CEO) Pascal Soriot is not quitting the company to join the generic drug-maker, Teva Pharmaceutical Industries Limited (TEVA - Free Report) .
AstraZeneca’s shares have impressively outperformed the Zacks classified Large Cap Pharma industry so far this year. The stock has jumped 24% compared with the broader industry’s increase of 11.8%.
We remind investors that last week on Thursday, AstraZeneca’s shares lost more than 4% after it was reported by an Israeli business newspaper Calcalist that Pascal Soriot will be filling in the shoes of Teva’s former CEO, Erez Vigodman, who stepped down in February.
However, AstraZeneca reportedly confirmed on Friday that Soriot will present the company’s earnings on July 27, which indicates the CEO is still with AstraZeneca. Teva’s shares dropped almost 4% on Friday.
Notably, Pascal Soriot has been serving AstraZeneca as a CEO since Oct 2012. Earlier, he served as the chief operating officer (COO) at Roche Pharmaceuticals (RHHBY - Free Report) from 2010 to Sep 2012. Before that, he also served as the CEO of Genentech, where he led its successful merger with Roche.
Teva has been searching for a permanent CEO, which remains the company’s “highest priority.” Chairman Sol Barer, at the first quarter conference call, said that the company is looking for a top-notch CEO with “deep and broad pharmaceutical experience.”
Michael McClellan, CFO of the Global Specialty Medicines division, started serving as the Interim CFO, since Jul 1, 2017.
Astrazeneca PLC Price
Astrazeneca PLC Price | Astrazeneca PLC Quote
Zacks Rank & Key Picks
AstraZeneca currently carries a Zacks Rank #4 (Sell). A better-ranked stock in the healthcare sector is Sanofi (SNY - Free Report) , sporting a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Sanofi’s earnings per share estimates nudged up from $3.08 to $3.18 for 2017 and from $3.26 to $3.30, over the last 60 days. The company delivered positive earnings surprises in two of the four trailing quarters with an average beat of 5.10%. Sanofi’s shares have rallied 19.1% so far this year.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>