NEW YORK (TheStreet) -- Mallinckrodt (MNK) was gaining 3.5% to $73.35 Friday after beating analysts’ estimates for earnings and revenue in the fiscal third quarter and news that it will join the S&P 500.
The company reported earnings of $1.20 a share for the third company, beating the Capital IQ Consensus Estimate of 85 cents a share by 35 cents. Revenue grew 14.6% from the year-ago quarter to $653.1 million. Analysts expected revenue of $278.8 million for the quarter.
Mallinckrodt, currently a member of the S&P MidCap 400, announced that it will join the S&P 500 after the close of trading on August 18.
- You can view the full analysis from the report here: MNK Ratings Report
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV