QCOR beat rallied to ub top at 70 then ....
Questcor falls after disclosing expanded investigation
Shares of biopharmaceutical company Questcor are falling in after-hours trading after the company disclosed two regulators joined an ongoing investigation into the company. WHAT'S NEW: After the market close, Questcor reported earnings of $1.68, topping estimates for $1.29, on revenue of $236.3M which also topped analysts' expectations, which were for $199.7M. The company reported that it shipped 8,132 vials of its Acthar treatment in the third quarter, a 45% increase over the prior year period. WHAT'S NOTABLE: On the company's Q3 earnings conference call, the company disclosed that the U.S. attorneys office for the Southern District of New York and the Los Angeles office of the SEC have joined an ongoing investigation into the company by the U.S. attorneys office in Philadelphia. The company added that it plans to disclose this development in its Form 10-Q, which it expects to file with SEC tomorrow. PRICE ACTION: Shares of Questcor, which initially rallied following its better-than-expected earnings report, are currently down 9.3% in after-hours trading. :theflyonthewall
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