By Ben LevisohnBiotech stocks like Gilead Sciences (GILD) and Amgen (AMGN) have been a great place to be for investors. Now, the approval of the first biosimilar in the U.S. is raising concerns that biotech profits will decline–and causing their stocks to tumble. Citigroup’s Andrew Baum and team explain why:
Bloomberg News
Approval of Sandoz’s Zarxio, with full extrapolation across indications and lack […]
Markets ended in the red for the second consecutive day, handing the Dow and S&P 500 their worst closing levels since Feb 19. Some opined there were no real panic in the markets, nonetheless the Nasdaq was dragged away from its 5K for the second day in a row. Among the day economic numbers, the private-sector employment gains in February […]
Barclays announced expanded coverage on seven biotech stocks Wednesday. Below are the new ratings and price targets along with comments from analyst Geoff Meacham.Achillion Pharmaceuticals, Inc. (NASDAQ: ACHN) was rated at Underweight with an $8 price target. The firm’s thesis was that “Achillion is likely to get left behind even with solid clinical data; a takeout may be one of […]
US financial markets drifted in morning trading on Thursday, with energy stocks among the biggest decliners as crude oil prices fell. Photograph: Richard Drew/AP
Private employers added 212,000 jobs in February, short of a forecast 220,000, although January’s reading was revised upward to 250,000 from the initial 213,000.US stocks were poised for a lower open on Wednesday, putting the S&P 500 […]
Nasdaq closed above the 5000 mark for the first time since Mar 2000 boosted by a new deal in technology sector. The Dow and the S&P 500 also touched record highs as the US economy is seen to be gradually picking pace. Markets ended in the green, despite reports of slowdown in manufacturing activity and consumer spending. Meanwhile, interest cuts […]
MRK -0.30%ABT +0.13%AMGN +0.40%Health care stocks were mostly higher, with the NYSE Health Care Sector Index climbing 0.3% and shares of health care companies in the S&P 500 advancing 0.6% as a group.In company news, Athersys (ATHX) advanced Monday after the biotech company lined up Japanese drugmaker Chugai to help it develop its stem-cell therapy for stoke.Under terms of the […]
Going into 2015 the economic outlook held by the U.S. investment establishment could not have been much more positive, and more unified. Pundits saw all the variables aligning to create the best of all investment worlds, a virtual “no-brainer” of optimism. Many believed that the 5.0% annualized growth in 3rd quarter would stay strong in the 4th Quarter and then […]
When you boil it down, the stock market isn’t much different than a game with some winners and more than a few losers. Granted, it’s a complicated game, and I wouldn’t advise you to actually hand over your hard earned money to anyone who considers it just a game. But basically, it is a game.The stock market has rules and patterns […]
The Nasdaq composite remains heavily weighted toward technology, thanks to Apple’s record market valuation near $750 billion. But tech’s weighting is down sharply from the Nasdaq’s peak, while the financial, consumer services and health-care sectors have seen their weightings more than double within the composite. [See table below.]Health care’s weighting in the composite is now 16 percent, which is comparable […]
Stocks finished mixed again on Thursday in another quiet session. I checked the calendar, because the action feels eerily like a holiday reprieve. Where is everyone?Or maybe like a calm before a storm given threatening data on nascent deflation and a rollover in corporate earnings. I know it’s almost forbidden to say this out loud with sentiment so bubbly — […]
