The S&P 500 dropped 0.4% today but that didn’t stop Western Digital (WDC) from gaining more than 3% todayand becoming the benchmark index’s hottest stock.
Like Skyworks Solutions (SWKS) the past two days, Western Digital’s gained 3.1% to $54.94 was primarily the result of another company entirely: Intel (INTC). The chip giant raised its third-quarter revenue guidance today, which helped it become the S&P 500′s second-best performing stock after rising 3% to $37.67.
Intel cited “improving PC demand” and the “replenishment of PC supply chain inventory” for upbeat guidance, and just the possibility of better times ahead for anyone who plays in the same sand boxWestern Digital makes hard drives and flash memory chipsgot the market all excited. And don’t forget: Just last week, Western Digital’s shares surged 9.8% after the company upped its own guidance,which it credited to the acquisition of SanDisk.
stock day trading: Biogen Idec Inc(BIIB)
- [By WWW.MONEYSHOW.COM]
Biogen discovers, develops and delivers innovative therapies for the treatment of neurodegenerative diseases and autoimmune disorders.
- [By Chris Lange]
The S&P 500 stock posting the largest daily percentage loss ahead of the close Thursday was Biogen Inc. (NASDAQ: BIIB) which traded down 4.6% at $279.08. The stocks 52-week range is $223.02 to $333.65. Volume was 3.4 million versus the daily average of 1.6 million shares.
- [By George Budwell]
Shares of theDanish drugmaker Forward Pharma A/S (NASDAQ:FWP) gained 48.2% yesterday as the result of a settlement and licensing deal with Biogen (NASDAQ:BIIB)involving an ongoing patent dispute over the multiple sclerosis drug Tecfidera. Per the terms of the deal, Biogen will fork overa non-refundable$1.25 billion licensing fee, and possibly pay 10% to 20% royalties on Tecfidera’snet sales to Forward starting in 2021.
- [By Brian Orelli]
While that’s fine for clinical trials, it may make it difficult for Ionis’ drugs to compete with drugs that work as well but don’t have side effects that need to be monitored. Of course, for Spinraza, which Biogen (NASDAQ:BIIB) and Ionis recently got approved for spinal muscular atrophy, side effects aren’t an issue because there aren’t any other treatment options at the moment.
- [By Todd Campbell]
A new and highly anticipated study byCelgene Corp. (NASDAQ:CELG) shows that its promising multiple sclerosis drug could soon reshape the $19 billion multiple sclerosis market. On Friday, management reported that ozanimod met its primary endpoint for reducing MS relapses better than Biogen Inc.’s (NASDAQ:BIIB) Avonex, and importantly, it did so without any new safety risks.
- [By Ben Levisohn]
Biogen (BIIB) tumbled to the bottom of the S&P 500 today after getting cut by two analysts.
Agence France-Presse/Getty Images
Biogen dropped 4.7% to $278.96 at 4:19 p.m. today, while the S&P 500 declined 0.2% to 2,381.38.
Leerinks Geoffrey Porges cited the “slower than expected ramp for Spinraza” in cutting Biogen to Market Perform from Outperform, while Morgan Stanly’s Matthew Harrison wrote that his decision to cut Biogen to Market Weight from Overweight was “not a downside call, but a timing call.”
Biogen’s market capitalization fell to $60.2 billion today from $63.2 billion yesterday. It reported net income of $3.7 billion on sales of $10.2 billion in 2016.
Barron’s Teresa Rivas recommended buying Biogen in December after the company released positive trial data on its Alzheimer’s drug.
stock day trading: Palo Alto Networks, Inc.(PANW)
- [By Peter Graham]
A long term performance chart shows Barracuda Networks peaking in 2015 before drifting into underperformance and then back up againwhile mid cap Fortinet Inc (NASDAQ: FTNT) and large cap Palo Alto Networks Inc (NYSE: PANW) also peaked in 2015 and bounced back a bit last year:
- [By Lisa Levin]
Palo Alto Networks Inc (NYSE: PANW) was down, falling around 23 percent to $116.87. Palo Alto posted upbeat Q2 earnings, but sales missed expectations. The company also issued a weak forecast for the current quarter. JP Morgan downgraded Palo Alto from Overweight to Neutral, while Baird downgraded the stock from Outperform to Neutral.
- [By Steve Symington]
When revenue inPalo Alto Networks Inc.’s (NYSE:PANW) latest quarter fell short of Wall Street’s expectations a few weeks ago, shares of the next-gen security specialist plummeted more than 20% in a single day. To blame, according to Palo Alto, were execution challenges that the company insists it’s “moving quickly to address.”
stock day trading: Valhi Inc.(VHI)
- [By Lisa Levin]
In trading on Thursday, basic materials shares slipped by 0.61 percent. Meanwhile, top losers in the sector included Valhi, Inc. (NYSE: VHI), down 13 percent, and LSB Industries, Inc. (NYSE: LXU), down 7 percent.
stock day trading: Tahoe Resources, Inc.(TAHO)
- [By Diane Alter]
Best Silver Stocks to Buy Now, No. 1: Tahoe Resources (NYSE: TAHO) is a Nevada-based silver miner that operates in the Americas. The company primarily produces silver, but also works with copper, gold, lead, zinc, natural gas, and petroleum. On Aug. 10, TAHO reported Q2 earnings per share of $0.19, $0.05 better than expected. Revenue rose 70.6% year over year to $228.3 million. The company recorded half-year production of 11.4 million ounces of silver and 167,168 ounces of gold. Based on operating results during the first six months of 2016, and expectations for the second half of the year, TAHO expects to achieve the top end of its 2016 guidance for silver production. New quarterly filings reveal influential hedge fund Bridgewater Associates took a new position of approximately 200,000 TAHO shares. At $13.89, TAHO is up 60.32% in 2016.
- [By Paul Ausick]
Tahoe Resources Inc. (NYSE: TAHO) dropped about 8.6% Friday, to post a new 52-week low of $7.27 after closing at $7.95 on Thursday. The stock’s 52-week high is $17.01. Volume was approaching double the daily average of around 2.6 million shares. The gold and silver miner reported results last night that missed profit estimates.
stock day trading: Apartment Investment and Management Company(AIV)
- [By Ben Levisohn]
Scripps Networks Interactive (SNI) sunk to the bottom of the S&P 500–narrowly beating out Apartment Investment and Management (AIV)–as the parent company of the Food Network and other channels gave back a chunk of its post-elections gains.
- [By Ben Levisohn]
Apartment Investment & Management (AIV) tumbled today, as the weakness in real-estate investment trusts following Donald Trump’s surprise election continued today. It was the second-biggest loser in the S&P 500 today.
Shares of Apartment Investment & Management dropped 4.1% to $41.03 today, while the Real Estate SPDR Dow Jones REIT ETF (RWR) fell 1.1% to $90.03. The S&P 500 rose rose 0.8% to 2,180.39.
In a note released yesterday, Raymond James analyst Buck Horne and team cut their price target on Apartment Investment & Management to $50 from $50, even as they maintained their Strong Buy rating. They explain why:
Prefacing our comment qualifying the significant economic uncertainties that have arisen post Tuesdays election, we are maintaining our Strong Buy rating onApartment Investment & Management shares while slightly adjusting our target price (to $50 from $52) and net-asset-value estimate (down $1 to $48.51/share). These adjustments are solely to reflect slightly more conservatism in our cap rate assumptions following the post-election interest rate shifts. We continue to find Apartment Investment & Managements risk/reward profile compelling in this environment as its diversified class B-priced portfolio should prove more resilient to supply pressures and benefit from the growing shortage of affordable workforce housing. In an inflationary environment with potentially declining housing affordability, we are particularly attracted to Aimcos price points, demographics, and balance sheet full of long-dated, non-recourse, fixed rate leverage.
Apartment Investment & Management reported net income of $67 million on sales of $978 million in 2015.
stock day trading: Live Ventures Incorporated(LIVE)
- [By Jim Robertson]
On Thursday, our Under the Radar Moversnewsletter suggested going long onsmall cap real-time deal engine stock Live Ventures Inc (NASDAQ:LIVE):