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Baxter Beats Earnings Estimates, Raises Full-Year Guidance

  • Shares increase to highest price since at least 1980
  • ‘Couple of deals on the table,’ CEO says on conference call
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Baxter International Inc., which last year spun off its drugs unit to form Baxalta Inc., beat analysts’ second-quarter earnings estimates and raised its 2016 guidance after what it said was a strong first half of the year.

Earnings, excluding certain items, were 46 cents a share, beating the 40 cents average of analysts’ estimates compiled by Bloomberg. Earnings for the full year will be $1.69 to $1.74 a share, it said in a statement Tuesday, up from the $1.59 to $1.67 the company predicted in April.