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Friday, October 24, 2014

Jilted Shire raises guidance again after Q3 earnings jump, (NYSE: ABBV)

Pharmaceutical firm Shire raised its guidance for full-year earnings on Friday, underlining its strong prospects as a standalone company after AbbVie Inc officially ditched its $55 billion purchase of the group on Tuesday.Shire's shares, which had fallen back to the levels they were trading at in June before AbbVie's interest was made public, were up 2.5 percent, making them the highest riser on the FTSE 100 Index.Dublin-based Shire, which produces drugs to treat hyperactivity and rare diseases, posted a 60 percent jump in third-quarter earnings per ADS to $2.93 on revenue up nearly a third at $1.6 billion.It said it now expected to deliver earnings growth in the high 30 percent range for the full year, up from its expectations in July of growth in the low-to-mid 30 percent range.

AbbVie Inc. (AbbVie) is a research-based pharmaceuticals company. Shares of ABBV traded higher by 4.6% or $2.62/share to $59.52. In the past year, the shares have traded as low as $45.50 and as high as $60.02. On average, 14244500 shares of ABBV exchange hands on a given day and today's volume is recorded at 14729311.