This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Gilead Sciences Blowout Earnings Shock the Street: StockTwits

NEW YORK (TheStreet) -- Earning season is kicking into high gear and after today's close, we saw an entire smorgasbord of earnings releases and trader reactions.

So many good earns at first glance $SKX, $SMCI, $SWKS, $VMW

- BeatTheStreet (@BeatShort) Apr. 22 at 02:27 PM

But the undisputed winner of the day is no doubt Gilead Sciences (GILD - Get Report), who simply demolished analysts' estimates. This was very good news to the overwhelmingly bullish crowd on StockTwits which dominated discussion:

Screen Shot 2014-04-22 at 2.21.16 PM

$GILD with a gargantuan EPS beat

- Derald Muniz (@1nvestor) Apr. 22 at 02:03 PM

The ramifications of news like this out of major biotech players has some interpreting the meaning to be bullish for the broader markets:

It's hard to get to bearish on the market when bio's are ripping. $IBB $SPY $IWM $QQQ. Yes market overbought, but could chop instead of drop

- SassySPY (@Sassy_SPY) Apr. 22 at 02:23 PM

After an initial trading halt, shares of Gilead resumed as much as 5% higher in after-hours trade: And many expect the 'upgrade parade' to begin tomorrow morning:

$GILD wait for massive upgrades tomorrow

- Joe C. (@TraderJoe4) Apr. 22 at 02:39 PM

$GILD it'll climb - with earnings like that and EOY earnings adjustments coming, analyst upgrades, shorts will need to cover. hold for a bit

- Jarrod Silcox (@StockSurfing) Apr. 22 at 02:34 PM

Possibly adding fuel to the fire is the increasingly high level of short positions held in Gilead that will need to be bought in at some point:

$GILD 92mm shares short

- RAS (@simonsays452) Apr. 22 at 02:23 PM

However, cooler heads were less impressed as they looked past the headline numbers and dug deeper:

$GILD Q1 sales, other than sovaldi, shows weakness in a number of products.

- Brian Kelly (@bdwight1) Apr. 22 at 02:39 PM

And given the price reaction, some think maybe investors will be less excited once the original euphoria wears off:

$GILD smaller reaction than expected. I expected 8% pop on ER.

- So Generous (@sogenerous) Apr. 22 at 02:39 PM

Follow me on StockTwits: @chicagosean

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
GILD $87.17 -2.06%
AAPL $95.18 1.64%
FB $117.43 -0.96%
GOOG $692.36 -0.84%
TSLA $232.32 -3.92%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs