Teva Pharmaceutical stock surged roughly 12.3% this week after the company announced it will replace its American depositary receipts with common stock listed directly on the New York Stock Exchange starting September 14. The move is expected to attract more institutional and retail investors. Teva also reported second-quarter results, with sales of $4.1 billion beating analyst estimates by about $70 million, though adjusted earnings of $0.02 per share missed the $0.11 consensus. Full-year guidance calls for adjusted earnings between $1.91 and $2.11 per share and revenue between $16.5 billion and $16.85 billion.
Teva Pharma Industries Ltd ADRDirect listing plan and Q2 sales beat attract investors, despite EPS miss.