ICYMI, weekly market recap. Jan 7-11


11-Jan-2019 16:44 PM



   This is the first full week of the U.S. stock market trading. Dow Jones post five consecutive day gains before ending the Friday's section flat The biotech sector with another merger Monday from Eli Lilly and Co acquired Loxo Oncology Inc (LOXO) for $8 billion. While from the tech sector Netflix continues its strength and post 13.45% gains for the week. Here is the market recap.

Monday the U.S. market follow-through from last Friday, most notably strength sector coming from biotech with second merger and acquisition. Dow Jones closed +98.19 points, SPY +0.75%, QQQ +1.19%, IWM +1.78%, IBB +3.35%

  • LLY acquired LOXO for $8 billion
  • Sage Therapeutics Inc (SAGE) - SAGE 217 meet a primary and secondary endpoint. Stock +42.68%
  • Axsome Therapeutics Inc (AXSM)- AXS-05 achieves primary endpoint in major depressive disorder. Stock +161.22%
  • NVDA Corporation (NVDA) launches lower priced GeForce RTX 2060 graphics. Stock +5.29%
  • ROKU Inc (ROKU) Westinghouse Roku TV Partnership. Stock +25.05%.

Tuesday Dow +256.10 points, SPY +0.88%, QQQ +0.90%, IWM +1.53%, IBB +0.72%, XBI +1.23%

  • Mirati Therapeutics (MRTX) strength continues for the second day with clinical collaboration with BMY
  • Axsome Therapeutics (AXSM) hit new 52 weeks high at $9.10. Stock up 29.26% for the day.
  • PG & E (PCG) with bankruptcy concerned stock has fallen over 30% since Monday. Stock down -7.37%.

Wednesday Fed minutes: growing risk make rate hike path less clear, Fed wants to be patient with hike. Dow post 40day winning streak, Dow Jones +90.86 points, SPY +0.45%, QQQ +0.81%, IWM +0.83%, IBB +0.70%

  • (AMZN) is best idea for 2019 at JPMorgan, Price Target raised to $2,100 at BofAML, stock up +0.17% to 1,659.42
  • Booking Holdings Inc (BKNG) two downgrades hit the stock today lows at 1,637.02,  Stock down -2.22% to 1,649.49
  • Amarin Corporation Plc (AMRN) strength due to speculation buyout chatter, unconfirmed. Stock up +8.05% to $15.03 close

Thursday Dow post five days winning streak, Dow +122.80 points, SPY +0.39%, QQQ +0.29%, IWM +0.52%, I BB +1.30$

  • Macy's Inc (M)- citing weakening in sales in late-December. Cut its fsical sales outlook to 2% from 2.3%-2.5%. Stock down -17.70%
  • Target Corp (TGT) said comparable sales grew 5.7% during November and December, maintains 2018 outlook. Stock down -2.85%
  • PLX Pharma Inc (PLX) biotech  post a big winner for the day +37.69%

Friday Dow jones end flat, SPY +0.04%, QQQ -0.37%, IWM +0.03%, IBB +0.10%.

  • Caesars Entertainment Corporation (CZR) Carl Icahn builds stake in, report CNBC
  • Corbus Pharmaceuticals Holdings Inc (CRBP) upgrade by Cantor Fitzgerald, Price Target $38.00
  • General Motors (GM) says 2018 earnings exceeded expectations.
  • Arantan Therapeutics Inc (PETX) Engaged Capital cuts active stake to 4.1% from 8.4%. Stock down -26.55%.

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