Tuesday, July 19, 2005

Amgen Blow Out

Wow... Amgen just demolished their numbers. Amgen reported after the bell today and beat the street estimates by $0.16. The street was expecting $0.72 and Amgen reported $0.88. The company also raised guidance for the year. Too bad I only have a small position in Amgen!

The biotech group has already taken off and now it's off to the races. First Genentech reported good numbers and raised guidance. Last week Genzyme reported strong numbers and raised guidance. And today we got Amgen's numbers. This was just an excellent quarter for the big cap biotechs. I'm just glad to have a nice position in biotech sector.


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