Filed under: Earnings Reports, Stocks to Buy

Biogen Idec (BIIB) improved its bullish prospects today as it announced earnings of $1.31 per share -- well above the Wall Street consensus estimate of $1.12 -- and raised its 2010 earnings outlook.

Total revenue for last quarter -- thanks in large part to better-than-expected sales of Biogen's multiple sclerosis drug Avonex -- came in at $1.2 billion, up 11% year over year.

Perhaps most exciting, however, was Biogen's announcement that it is raising its guidance for 2010 earnings to $4.70 per share, up from the current consensus of $4.57.

Continue reading Biogen Idec Looks Bullish on Earnings Guidance

Biogen Idec Looks Bullish on Earnings Guidance originally appeared on BloggingStocks on Tue, 20 Jul 2010 11:30:00 EST. Please see our terms for use of feeds.

By Toni Clarke

Filed under: Earnings Reports, OptionsAs my colleague Karla Yeh pointed out over at ONN.tv earlier today, Biogen Idec (BIIB) saw some unusual options trading in the wake of its positive earnings surprise before the bell. BIIB gapped higher at the open, jumping almost 2% out of the gate. Less than a half hour into the trading day, large blocks of roughly 4,000 contracts each traded at four March strikes: the 45-strike put, the 50-strike put, the 55-strike call, and the 60-strike call. It appears as though this investor sold the March 50/55 strangle (the 50 put and the 55 call) and simultaneously purchased the March 45/60 strangle (the 45 put and the 60 call). A short strangle is typically employed when the investor expects the underlying instrument to stay range-bound; a long strangle is used by traders who expect a sharp move in either direction. In this case, with one of each crossing the tape as part of one strategy, it can be referred to as an iron condor.Continue reading Post Earnings, Biogen Idec (BIIB) Sees Unusual Options ActivityPost Earnings, Biogen Idec (BIIB) Sees Unusual Options Activity originally appeared on BloggingStocks on Tue, 09 Feb 2010 15:00:00 EST. Please see our terms for use of feeds.Read | Permalink | Email this | Comments

Biogen Idec President and CEO James Mullen has sold 147,037 shares of his company's stock, a stake worth almost $7.4 million, according to a U.S. Securities and Exchange filing

Filed under: Good news, Products and services, Lilly (Eli) (LLY)Biogen Idec (BIIB) has made a bit of news the past two days, starting with Thursday's news that William Young is the company's new chairman of the board. BIIB's Bruce Ross will complete his term as director and will step down from the board at BIIB's 2010 shareholder meeting. William Young will take over effective January 1, 2010. Young is a veteran of the biotech industry, as he served with Monogram Biosciences, Genentech (where he was CEO), and Eli Lilly. Ross noted, "I am pleased the Board has selected Bill Young as Biogen Idec's new Chairman. He is an experienced biotechnology and pharmaceutical industry executive with an extensive understanding of Biogen Ides, given his 12 years of service as a director of the company."Continue reading Biogen Idec names new chairman, announces positive drug test resultsBiogen Idec names new chairman, announces positive drug test results originally appeared on BloggingStocks on Fri, 11 Dec 2009 11:40:00 EST. Please see our terms for use of feeds.Permalink | Email this | Comments

CHICAGO----Zacks.com releases the latest Industry Outlook. Today, Zacks Equity Research discusses the Big Pharma & Biotech Industry, including Alcon , Novartis , Gilead Sciences , Biogen Idec and Acorda Therapeutics

CAMBRIDGE, Mass.----Biogen Idec Inc. announced today that it has extended the tender offer by its wholly owned subsidiary, FBC Acquisition Corp., to purchase all of the outstanding shares of Facet Biotech Corporation to 12:00 midnight New York City time on December 16, 2009, unless otherwise extended

CHICAGO----Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets

CAMBRIDGE, Mass.----Biogen Idec today announced that it has sent to its stockholders a letter urging them to vote Biogen Idec's WHITE proxy card FOR all of the Company's Board of Directors' highly regarded and experienced nominees