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