Gilead Sciences on Thursday reported second-quarter profit that handily beat Wall Street estimates, driven by lower operating expenses and higher product sales, and the drugmaker raised its outlook for full-year earnings.

It's a big day for Wall Street as the much-awaited Jobless Claims numbers are out, which could be a major factor in market moves for the rest of the week. Right now, stock futures are climbing up as the weekly jobless claims numbers have come in better than expected.

This marks the last peak week of the Q2 earnings season with 3,908 companies expected to report. Earnings have come in better-than-expected, but tend to be overshadowed by economic data. Outlier earnings this week include: CSX, CAT, and VFC.

After a disastrous performance in the first half of 2024, Gilead Sciences stock has rebounded strongly since mid-June. With Gilead Sciences due to report its Q2 results on Thursday, it's a good time to assess what we can expect and whether the rebound was justified. I will specifically discuss Gilead's novel GLP-1 receptor agonist, GS-4571, and other news that has emerged recently.

Let's look at five biotech and drug companies, AMGN, GILD, LLY, VTRS & NVO, due to release their second-quarter 2024 results this week.

Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Gilead (GILD), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended June 2024.

Abbott Laboratories and Gilead Sciences are solid dividend stocks. Both look a bit pricey relative to their recent financial results.

The growth and tech-heavy Nasdaq 100 index is in something of a significant correction at the moment. After hitting new all-time highs early in July, the benchmark Invesco QQQ ETF (NASDAQ: QQQ ) has already pulled back close to 10% from its recent peak.

While Gilead (GILD) has been under pressure year to date due to pipeline setbacks, holding on to this biotech giant should be prudent at current levels.

Gilead Sciences (GILD) closed the most recent trading day at $76.49, moving +0.57% from the previous trading session.

Gilead (GILD) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

In the bustling world of biotechnology, innovation remains the cornerstone of growth. Some biotech stocks, known for their groundbreaking research and rapid adaptation to health challenges, are particularly well-positioned to do well in the future.