FYI: Biogen (BIIB) shares are currently set to gap higher by 41% this morning due to earnings and positive news for its Alzheimer's drug. A 40%+ gap on earnings is extremely rare, but we can find historical occurrences very easily using our Earnings Explorer tool. Seeing how prior stocks performed following big gaps up or down on earnings is one of the many useful ways to use our Earnings Explorer. Below are the results from a quick screen we ran that found all stocks reporting earnings since the start of 2017 that opened higher by at least 40% on the day. As shown, there have only been 12 occurrences, and the average gap up at the open for these 12 names was +65.27%.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/biogen-biib-set-to-gap-up-40-on-earnings-drug-newsM* Ownership:
https://www.morningstar.com/stocks/xnas/biib/ownership
