Mylan Soared to Top the S&P 500 After Raising Earnings Guidance

Shares of pharmaceutical company Mylan, Inc. soared to the top of the S&P 500 on Friday, making it TheStreet's Move of the Day. The company increased its third-quarter earnings guidance citing better-than-expected operational performance, in addition to multiple product approvals and debuts. Mylan also raised and narrowed its full-year guidance to a range of $3.44 to $3.54 earnings per share. On Thursday, takeover chatter surrounded the drug company as it said it is actively exploring possible deals. Shares of Mylan ended the day up 8.02% to $50.23 on nearly 4 times its average trading volume.