Amgen's second-quarter earnings increase 40%

The company also announced a collaboration with GlaxoSmithKline (NYSE: GSK) to share commercialization of AMGN's denosumab, which is used for postmenopausal osteoporosis. The agreement includes Europe, Australia, New Zealand and Mexico once the drug receives approval in those countries. AMGN will commercialize the treatment in the U.S. and Canada. The collaboration should expand access to denosumab worldwide, which should help patients dealing with osteoporosis and bone-loss conditions.

Technically, the shares should have a nice day thanks to this news of solid earnings and a stronger forecast. On a short-term basis, AMGN has battled through resistance in the $60 region and could be poised for a nice pop in reaction to the earnings news. This region has been rather important in the equity's past, and it is no different now. The round-number $60 level has had plenty of opportunities to provide support in the past, failing nearly every time. With the opportunity for the stock to put $60 in its rear-view mirror, we could see the level finally step up and act as support.