ASCO Stock and News Update: ARIA, BMY, EXEL, XBI
Biopharmaceutical stocks got a boost today from a rally in NASDAQ stocks and some positive news on cancer drugs from ASCO. The IBB ($106.36) was up 1.6% off its YTD and all time high of $110 and a nice rally after five days of weakness.The XBI was also up 1.97%. Many biotech stocks hit their...
Random Items: CELG Investor Network, NFLX CEO Challenges Short Seller
Celgene (CELG $58.49) is off 0.93% and down 1.29% YTD in a biotech bull market. The stock is also off 20% from 2007 and 2008 highs near $75.The Company recently bought Abraxis for $3B + and presented Abraxane data in combination with other drugs at ASCO. The Company has 25 drugs in it pipeline...
Rayno Life Science Portfolio:Risk is Off-EXEL,GPRO,UTHR
Speculation in small cap biopharmaceutical stocks has peaked and we urged weeks ago to raise cash positions to 10-15%. The ASCO "sell on the news effect" has continued today with some high fliers off significantly: Exelixis (EXEL $8.95) is off 18% after the Company reported over the weekend six...
Broad Market Sell-Off After Weak Jobs Data: Indices Off Almost 1% -Update
Even the Market is Bored with Economic Data-It's All About Jobs Weak U.S. payrolls data with a rise of only 54,000 jobs push jobless rate up to 9.1% reversing April's advance. This mirrors recent coolness in the economy and retail store data. The bond market called it right as 10 year treasury...
New Moon and June Gloom: Macro Rules, Risk Off
Market Sell-Off Over 2%-Worse Day Since August 2010 Yesterday's rally was obviously a good hangover from your Memorial Day weekend. The bad economic news has finally come to roost and the selling today is ominous because it is the first day of the month. Over the past month we cautioned that...