Why Teva Pharmaceutical Stock Surged This Week
Teva reported its Q2 results this week, but the stock's big gains mostly stemmed from another catalyst.
Overview
Teva Pharmaceutical (NYSE: TEVA) stock closed out the last week of trading with significant gains, rising roughly 12.3% across the stretch. The S&P 500 gained 0.2% over the same period, and the Nasdaq Composite was up approximately 0.5%.
Teva published its second-quarter report after the market closed on July 29, posting mixed results. While earnings for the period came in below Wall Street's target, the company delivered some news that excited investors.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.