ICYMI. Weekly Market Recap. Jan 14-18, 2019
***Reminder the U.S. stock market will be closed on Monday, January 21 for Martin Luther King, Jr. Day.
In case you missed it, this past week stock market movers news.
Monday Dow closed +86.11 points, SPY -0.53%.
- PG & E Corp (PCG) prepares to initiate voluntary reorganization cases under Chapter 11
- Vivus Inc (VVUS) new study results evaluating the cardiovascular safety of Qsymia will be published on Feb 1, 2019.
- Citigroup Inc (C) bank said its fourth-quarter profits rose.
- Lululemon Athletica Inc (LULU) company raised its profits and sales forecast for the fourth quarter.
Tuesday Dow Jones up 155.75 points, SPY +1.15%, QQQ +1.95%, IBB +1.93%, IWM +0.84%. Tech leading market rallies.
- Netflix (NFLX) to raise prices by 13%-18%, its biggest increase ever. Stock up +6.52%
- Almylam Pharmaceuticals Inc (ALNY) prices 5M share offering at $77.50
- Transenterix Inc (TRXC) receives FDA 510(k) clearance
- Exelixis Inc (EXEL) announces U.S. FDA approval of CABOMETYX tablet
Wednesday banks leading the rallies with Dow Jones +137.64 points, SPY +0.23%, IWM +0.75%, IBB -0.54%, QQQ -0.02%
- Goldman Sachs Group, Inc (GS) earnings report, stock up +9.54%
- Bank of America Corporation (BAC) rallies with earning report beat +7.16%
- Wynn Resorts LTD (WYNN)+3.46% analyst upgraded with buy at Nicolaus, price target $141.
Thursday the U.S. market surged late day with rumors news secretary Mnuchin said to weighs lifting China trade tariffs, but later on, spokesman says they have not mad any recommendations with respect to China tariffs. Dow +162.47 points, SPY +0.77%, QQQ +0.79%, IWM +0.91%, IBB +1.05%
- Spectrum Pharma (SPPI) sells Marketed portfolio to Acrotech Biopharma for $160m plus #140M milestones
- Morgan Stanley (MS) brokerage blamed a 'volatile global market environment' for disappointing sales. Stock down -4.41%
- Netflix Inc (NFLX) Q4 EPS $0.30 and sales $4.19B.
Friday Dow Jones closed strong +336.25 point with the U.S. vs China trade war rumors to ease off. SPY +1.33%, QQQ +0.99%, IWM +1.03%, IBB +0.62%
- Tesla Inc (TSLA) cutting the workforce by 7%. Stock down -12.97%
- Immunomedics Inc (IMMU) FDA declined to grant accelerated approval for its breast cancer treatment. Stock down -26.42%
- Lexicon Pharmaceuticals Inc (LXRX) FDA panel splits to approve New Diabetes Drug. Stock down -22.60%