|Day Low/High||66.81 / 69.78|
|52 Wk Low/High||60.89 / 71.19|
Outside of oncology, the rare disease area is a good target for M&A in 2018.
Stocks put in broad gains supported by tax cuts, bonuses, a weaker dollar and more.
The key feature within the markets is the renewed and continued strength in pharma and biotech which started last week. Allergan , Celgene and Gilead Sciences are upside features. I am not involved and I would not chase big Pharma or biotech.
France-based firm said its Phase 2 study of eryaspase (Graspa) in acute myeloid leukemia did not achieve its primary endpoint of overall survival.
Biotech M&A activity will pick up markedly in 2018, and these companies are likely to be the most active in that space.
Some mid afternoon observations: * Small yield flattening in today's session and little change in bond yields. * High yield is slipping a bit. * The U.S. Dollar is strengthening after morning weakness. * Oil down after weeks of strength (-$0.76/ba...
There are a variety of players that should be active in the M&A space next year.
The Nasdaq (QQQs) turn slightly negative as most of the FANGs reverse lower. Retail, generics (Teva and Mylan ), big pharma (Merck and Bristol-Myers Squibb ) and biotech (Allergan , Gilead Sciences , Celgene ) are conspicuous to the downside. Co...
Biotech is conspicuously weak, with weakness in Allergan , Celgene and Gilead Sciences . I suspect we could see tax selling in December, but it's still early. Speculative biotech is not much better. I am avoiding the sector for now.
On Thursday, I waved the white flag exited my AGN position.
To me, there are a number of important lessons in Allergan's $11 drop today: There is no substitute for objective and hard-hitting security analysis. A variant view can be special and deliver alpha -- it can contribute importantly to avoiding los...
Despite stocks near their all-time records, there are more potholes (this week) than observed on Second Avenue in the Upper East Side in New York City. Today's potholes: * Optical (Oclaro guidedown) * FANG (reaction to earnings) * Retail (again) *...
Looking ahead, Allergan may be more vulnerable than suggested by management or believed by analysts.
LGI Homes, ANI Pharmaceuticals and Sonus Networks are worth considering.
The stocks of Amgen, Celgene and Gilead Sciences all took hits after posting quarterly results.
The forces that artificially impacted the marketplace return to normal; so will the marketplace itself.
We have a new price target as GILD reacts to the FDA approving its cancer drug.
Today's Top Stories: Amazon's deadline to submit a proposal to build a new headquarters is today, Gilead shares are jumping as a result of the FDA's approval of a cancer treatment, today marks the 30th anniversary of Black Monday.
The Dow, the Nasdaq and the S&P 500 all reached new record highs even though drug stocks were under pressure following comments by President Trump.
"While options can give market participants the protection they are intended to provide, they can also increase the degree of a counter move, once it gets going, as those who wrote the protection scramble to unwind their own exposure." -- Kass Diary...
The first part of Flexion's decline can be attributed to some profit taking.
"Why make trillions when we can make billions?" -- Dr. Evil I started the day with a multi-part series, "Sell FANG." Here, here and here. A Bull Market in Complacency -- why volatility is low and corrections are non existent. Auction Action. N...
An old trading dictim is that you might consider selling or shorting stocks that are in the red when the market is broadly in the green (and vice versa). Some conspicuous stocks that are weak today include Comcast , Gilead , Sprint , and Lilly .
I'm setting up a risk reversal to either buy the stock lower or participate in the upside.