Pacific Biosciences (PACB) Jumps 6.5% Ahead of Earnings

We recently published These 10 Stocks are Winning Big. Pacific Biosciences of California, Inc. (NASDAQ:PACB) is one of the best-performing stocks on Monday.

Pacific Biosciences jumped by 6.49 percent on Monday to close at $1.64 apiece as investors began repositioning portfolios ahead of its second-quarter earnings release.

According to the company, it is scheduled to announce the results of its financial and operating highlights after market close on August 7, where investors will closely watch out for updates on its restructuring plan in a bid to reduce operating expenses by $45-$50 million by the end of the year. An investor call will be held on the same day to elaborate on the results.

In the first quarter of the year, Pacific Biosciences of California, Inc. (NASDAQ:PACB) widened its net loss by 446 percent to $426 million from $78 million in the same period last year, following a 429-percent expansion in operating loss.

Revenues amounted to $37.1 million, lower by 4.6 percent than the $38.8 million year-on-year.