Gilead Sciences: Is the Bottom In?

Gilead Sciences ( GILD ) is set to report earnings next Tuesday , and it can't get much worse than it was last quarter. That was when Gilead slashed its 2017 guidance due to slumping hepatitis-C sales, causing some investors to wonder if the company has created a " clearance event " in its shares. Guggenheim's Tony Butler and team see more pressure on hepatitis-C profits, but contend Gilead's shares have bottomed. They explain why: