Why Amgen Stock Is Down Today Despite Solid Q2 Results

By no means were Amgen's (NASDAQ: AMGN) second-quarter numbers "bad." Revenue for most of its core drugs was up year over year, and the slight earnings dip is the predictable result of rising expenses. The pharmaceutical company's outlook remains optimistic as well.Yet, S&P Global Market Intelligence data indicates Amgen shares are down 5.9% as of 12:46 p.m. ET today. The prompt for the sell-off is mostly an earnings miss, but the actual driver of the sizable setback is arguably a trading crowd that's become quick to presume the worst.Drugmaker Amgen reported revenue of $8.39 billion for the three-month stretch ending in June, up 20% year over year and slightly topping expectations. Not counting the acquisition of Horizon Pharma in October of last year, revenue grew 5% on a 10% uptick in volume led by cholesterol drug Repatha and osteoporosis treatment Prolia.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool