Quest Diagnostics stock is rising on upbeat guidance

Quest Diagnostics (DGX.US) stock rose over 3% after the medical lab operator lifted its full-year guidance and profit outlook, citing a faster-than-anticipated recovery in testing volumes through the end of August. Company now expects adjusted earnings of $7.42 to $8.92 per share, up from the prior range of $5.66 to $7.66 a share. The current consensus estimate is $8.51 a share. The company raised its 2020 guidance range for revenue to $8.4 billion to $8.8 billion from $8.0 billion to $8.6 billion, compared with the FactSet consensus of $8.69 billion.

Quest Diagnostics (DGX.US) - stock managed to bounce off the 200 MA (red line) and rally. Should upbeat moods prevail, resistance at $119 may come into play. This level is also additionally strengthened by 50 MA (green line). However, should market sentiment change, the nearest support is located at $104.00. Source: xStation5

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