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Generic Drug Maker Tests 50-Day Average.(B)(NASDAQ STOCKS IN THE NEWS)
Byline: Nancy Gondo
Though Teva Pharmaceutical Industries has pulled back from its July 2 high, it's bounced off its 50-day moving average twice and looks to be in the early basing stages.
It's trading just 7% off its high. The Israeli drug maker could be setting up for another breakout if it can continue basing at least another three weeks.
Teva last week reported a second-quarter profit of 49 cents a share, up 44% from the prior year and a nickel above views. It raised its '03 earnings forecast to $2-$2.05 from its earlier guidance of $1.85-$1.90.
Profit has grown by at least 44% the past six ...
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