Why Mylan (MYL) Hit an All-Time High Today

NEW YORK (TheStreet) -- Mylan  (MYL) soared to an all-time high of $57.06 as of 2:57 p.m. EST on Thursday after the pharmaceutical company reported fourth-quarter earnings that surpassed analysts' expectations.

The company noted earnings of 78 cents a share, excluding items, which surpassed the Capital IQ consensus estimate of 75 cents a share. Revenue rose 5.9% year over year to $1.81 billion, which equaled the consensus estimate.

Mylan also issued guidance for the fiscal year 2014 and expects earnings per share of $3.25 to $3.60 and revenue of $7.8 billion to $8.2 billion. The Capital IQ consensus estimate calls for $3.43 a share on revenue of $7.73 billion.

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