Covidien (COV) reported first quarter EPS of $0.86 Wednesday morning, which topped the consensus estimate of $0.75.
Covidien gapped up Wednesday and spiked higher in early trade. The stock was range-bound for the remainder of the session and closed up by $2.17 at $51.62 on above average volume. Covidien rose above a one-month trading range and set a new high for the year.
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