Perrigo (PRGO) might have been in more of a decline than the market realized when it turned down Mylan's (MYL) $26 billion offer for the company last year, says TheStreet's Jim Cramer. The generic drug company reported lower-than-expected 2016 second quarter earnings and provided downbeat guidance for the year. The Allegan, MI-based drugmaker reported adjusted earnings of $1.93 a share, below estimates of $1.98 a share. Revenue fell 3.3 percent year-over-year to $1.48 billion, but beat Wall Street's expected $1.43 billion for the quarter. For the full-year 2016, Perrigo is projecting adjusted earnings of $6.85 to $7.15 a share, lower than prior guidance of $8.20 to $8.60 a share.
More from Video
Conagra Brands Looks Tastier After Its Upgrade to Buy
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Biogen Bulls Get a Lift From Quant Upgrade and Strengthening Charts
Breaking down an approach to the long side of this biotech stock.
Is Renewable Energy the Defensive Stock Opportunity You're Missing
AMSC CEO discusses that and China challenges.
Takeda Pharmaceutical CEO Talks Big Pharma Trends
One of pharma's biggest CEO's talks M&A action on the exchange.
Real Money Video Wrap: Citi Surges as View of Stability Saves Sentiment
Citi overcame a mixed print to send its stock surging on Monday.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.