Teva's Stock At Lowest Level Since November 2004

Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) shares are trading lower by $6.90 (22 percent) at $24.36 in Thursday's session.

Before the open, Teva reported a Q2 EPS miss of 4 cents along with a slight sales miss. The company trimmed its FY 2017 outlook and slashed its dividend from $0.34 to $0.085 per share.

After a lower open, Teva had a 62-cent bounce to $26.37 before resuming its steep decline. It has continued to make lows for the session, with the current one standing at $24.27 as of 12:25 p.m. EST. That marks the lowest level for the stock since November 2004, when it bottomed at $22.82.