NEW YORK (TheStreet) -- Mallinckrodt (MNK - Get Report) 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
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