WuXi PharmaTech Triples Earnings in Q3

WuXi PharmaTech, the Shanghai CRO that conforms to western standards, announced sharply higher Q3 results. On a year-over-year basis, revenues jumped 78% to $34 million while earnings were up 205% to $8.6 million. On a per-share basis, WuXi earned 12 cents, fully diluted. Although the Q3 report was solid and right on target, it did not inspire buying on the part of the investors, who decided to sell the news. WuXi opened today’s trading down almost 10% in the low $28 range. In mid-session, the stock had cut the loss in half, trading at $29.36, a drop of $1.55 or 5%. More details...

Stock Symbol: (NYSE: WX)