Benchmarks ended in the red on Tuesday, dragged down by losses in technology, biotechnology and small-cap stocks. U.S. trade deficit touched its highest level in almost six and a half years, adding to the bearish sentiment. Meanwhile, investors remained concerned over fresh troubles in Greece and kept an eye on upcoming nonfarm payrolls data to gauge the timing of a […]
Friday was almost the complete opposite of Thursday – especially in the NASDAQ. Yesterday we wrote how it was difficult for the NASDAQ to rally without the potent combo of Apple + biotechs, which both suffered yesterday. Today both jumped and the results were predictable. The S&P 500 rallied 1.09% and the NASDAQ 1.29%. We will begin to see more […]
By Ben LevisohnIt’s been a bad, bad week for biotech stocks. The iShares Nasdaq Biotech Index ETF (IBB) had dropped 9.3% this week through Thursday’s close, while Amgen (AMGN), Biogen Idec (BIIB), and Celgene (CELG) also suffered big losses. Evercore ISI’s Mark Schoenebaum notes that the valuations of big biotech companies is trading below that of the S&P 500 for only the […]
REUTERS – Wall Street opened lower on Thursday as Apple weighed on the major indexes and Celgene led a fall in biotech stocks, more than offsetting encouraging economic data.All the 10 major S&P sectors were down, with the technology index retreating 1.1 percent. The Nasdaq biotech index dropped 1.7 percent.Apple fell 2.3 percent to $125.70 and was the biggest drag […]
It’s been a turbulent few days for the biotech sector with the NASDAQ Biotechnology Index declining 5.46% over the last five trading days. A major part of this decline was recorded on Monday as the sector reacted to negative pipeline updates from companies like Amgen (AMGN – Analyst Report) and Celladon (CLDN – Snapshot Report). Meanwhile, Biogen’s (BIIB – Analyst […]
The biotech segment has been growing well surpassing all expectations until Monday when shares slipped significantly. The NASDAQ Biotechnology Index ^NBI and NYSE ARCA BIOTECH INDEX ^BTK had gained 16.7% and 18.7%, respectively, til Apr 24 but both declined more than 4% on Monday after disappointing news from several biotech companies.Just when news of several mergers & acquisitions, product approvals […]
APActors Robert Downey Jr. and Jeremy Renner ring the opening bell Monday at the New York Stock Exchange. By Caroline ValetkevitchNEW YORK – U.S. stocks ended down Monday, led by losses in biotech shares after disappointing news from several companies including Amgen.The Nasdaq Biotech Index sank 4.1 percent, its biggest daily percentage loss since March 25, while the S&P […]
Atlas Venture went through a corporate divorce last fall, as its tech partners and biotech partners went their separate ways. Now the biotech team has moved on, and re-loaded with twice the money they’ve had in the past.The Cambridge, Mass.-based firm, founded back in 1980, is announcing today it has closed on a new $280 million fund, its tenth, to […]
Benchmarks ended Wednesday’s volatile trading session with modest gains after Fed minutes hinted at a possible rate hike this year. While “several” officials favored a rate hike in June, others opined a rate hike isn’t necessary until later this year as strong dollar and drop in oil prices will keep inflation rate lower. Meanwhile, new deal between Mylan and Perrigo […]
Major updates in the biotech sector over the past four trading days were on the pipeline and regulatory front from companies like Alkermes (ALKS – Analyst Report) and Amgen (AMGN – Analyst Report) among others.Recap of the Week’s Most Important Stories1. Alkermes’ experimental schizophrenia treatment, ALKS 3831, fared well in a mid-stage study. Earlier this year, the company had said […]
