Gilead (GILD) Cut to Market Perform at First Global This Morning

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Analysts at First Global downgraded shares of Gilead Sciences (Nasdaq: GILD) from Moderate Outperform to Market Perform early this morning.

The firm noted that Gilead's Q2 results and 2010 sales guidance looked concerning "once again due to slower than expected sales from its HIV franchise." First Global argues that this segment of its business, as well as adverse healthcare reforms and volatile currency implications will "significantly impact the company's growth prospects."

Shares of Gilead fell about 2% today, possibly on the back of the bearish analyst research note.

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