have reported stellar quarters but also some stinkers i am excited about abbvie and biogen i am going to start with abbvie. abbvie has been a terrific performer. stock is up more than 83% over the past 12 months but in the past two days, the stocks plunged from 122 to 112 bingo, that is the dip i have been looking for the company reported a stunning quarter sent the stock surging from $128 to 123 this pull back could be heavenly if it goes back four more points you will be getting the latest quarter for free for those of you who don't know, abbvie makes a host of major drugs. including the best selling drugs in the entire year r rummira. the company expects this one drug to do 21 billion in sales and that isn't the most exciting start of the story four cents earnings beat up 14% year after year they went from midpoint of 647 up to $7.38. fabulous sales forecast. that translated into 32% earning growth the stocks going down, look it did rally up 14% in the wake of the number this is not some cyclical smokestack play that is expected to raise numbers when economy is booming. pharma outfits almost never pull extra d

close eye on reports next week, amgen's in particular for similar commentary on tax benefits abbvi abbvie's quarter is boosting gilead because of hepatitis c drugs, a 32% market share. abrams calling it a positive market share all this leading biotech to get seriously close to its 2015 high here's where the warnings start to come in industry publications pointing out some of the activity in the space is causing investors to, quote, worry the sector is taking a turn for the absurd and josh schumer points out the state of theion address next week would throw cold water on the group in the milled of earnings season. wednesday also brings reports from eli lily and vertex >> thank you meg dan here had called the ibb the best chart ever earlier this week on "fast money. how are you trading it. >> i was going to say on a relative basis i think it's constructive. we are also in a market that obviously for a couple of months now is seemingly making new all-time highs on a daily basis. what we have seen is rotations, out of some groups and into some others when you look at the pickup we have seen in

the second thing driving it is abbvie's earnings report what the company said about taxes. abbvie says its effective tax rate will be 9%. analysts had been expecting 20%. >> jared holtz is telling me investors are keeping a closer eye on this for any similar commentary of tax benefits they are boosting gilead for their results for hepatitis "c" drugs. it says a 32% market share brian abrams calling this a positive indicator for market stabilization in terms of number of patients treated as well as pricing. all of this leading biotech to get seriously close to its 2015 high here is where the warnings start to come in damian is pointing out some of the activity in the space is causing investors to worry the sector is taking a turn for the absurd they point out the state of the union address next week. it could throw some cold water on the group in addition to pfizer and amgen reporting, wednesday will bring reports from eli lilly and v vertez >> dan had called it the best chart ever on ""fast money." >> i say on a relative basis it is very constructive. we are in a market that is se