American Oriental Bioengineering (AOB): Shares trace bullish 'Cup & Handle' pattern

Filed under: Earnings reports, Technical Analysis, Stocks to Buy

American Oriental Bioengineering (NYSE: AOB) manufactures a broad range of prescription pharmaceutical, over-the-counter pharmaceutical and nutraceutical products for the Chinese market, operating from 30 locations in the Peoples Republic. Offerings include treatments for the flu, upper respiratory infections, tonsillitis, incontinence, endometritis, annexitis, PMS and sinus congestion. The firm sells to some 100,000 retail stores, pharmacies, hospitals and independent distributors.

American Oriental surprised the Street earlier in the month, when it reported Q1 EPS of 12 cents and revenues of $38.8 million. Analysts had been looking for 12 cents and $37.9 million. Management also guided FY08 revenues to at least $245.0 million, versus consensus of $227.64 million. The CEO cited synergies from recent acquisitions in support of the optimistic view.

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