Pharmaceutical Product Development At Record High On Updated Guidance
Shares of Pharmaceutical Product Development gained more than 10% on Wednesday after the company updated its guidance for 2007 and reported its projected financial guidance for 2008. The stock gapped open higher and then drifted p for most of the afternoon. PPDI closed at $46.86 up $4.33.
Wednesday's gains pushed the stock above resistance to a record high. PPDI had been trending mostly higher in the last several sessions.
Pharmaceutical Product Development updated its existing 2007 guidance and reported its projected financial guidance for 2008.
Earnings per share for the fourth quarter of 2007 are still expected to be in the range of $0.33 to $0.35 Analysts polled by First Call/Thomson Financial expect the company to report earnings of $0.34 per share for the fourth quarter.
For the full year 2007, PPD now anticipates net revenue, excluding reimbursed out-of-pocket expenses, will be in range of $1.295 to $1.310 billion, compare to prior outlook of $1.290 - $1.34 billion.
Earnings per share for the full year 2008 are expected to be in the range of $1.82 to $1.92.
Source : http://www.tradingmarkets.com
Wednesday's gains pushed the stock above resistance to a record high. PPDI had been trending mostly higher in the last several sessions.
Pharmaceutical Product Development updated its existing 2007 guidance and reported its projected financial guidance for 2008.
Earnings per share for the fourth quarter of 2007 are still expected to be in the range of $0.33 to $0.35 Analysts polled by First Call/Thomson Financial expect the company to report earnings of $0.34 per share for the fourth quarter.
For the full year 2007, PPD now anticipates net revenue, excluding reimbursed out-of-pocket expenses, will be in range of $1.295 to $1.310 billion, compare to prior outlook of $1.290 - $1.34 billion.
Earnings per share for the full year 2008 are expected to be in the range of $1.82 to $1.92.
Source : http://www.tradingmarkets.com
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