FBT up 2.4% to $108 then drifts back to 107; NASDAQ flat 4661
DOW bounced around in 425 point range.
Mixed market among biotech stocks after NASDAQ and S&P sell off; momentum eases.
Mid-cap immuno-oncology stocks : down AGIO, BLUE, EPZM, SGEN.; up CLVS, INCY, MDVN.
Rayno Life Science Movers:
- Pharmacyclics (PCYC) up 16% to $144 on 2015 guidance; IMBRUVICA sales of $492M for 2014 with forecast of $1B in 2015.
- Gilead (GILD) pricing, reimbursement and competition concerns linger, stock is off 3.9% to $97.2. But pipeline is strong. Abbvie (ABBV) up 7.6% to ^60.
- Other Rayno biopharma stocks in green: Biogen Idec (BIIB), Vertex (VRTX). Nice technical recovery on CLVS stock .Will add Clovis Oncology ( CLVS) to Rayno Mid Cap motif at $60.
- Sequencing plays sell off after Monday rally: Illumina (ILMN) off 2.7%, Pacific Biosciences (PACB) off 2.77%. Update on NGS seminar coming.
Volatility continues as market reverses despite good report from Alcoa (AA) down 2.29% to $15.80. XLE down 0.77%. Oil near six year low with Brent at par.
Disclosure: long CLVS and GILD.