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ICYMI. Weekly Stock Market Recap. July 9-13,2018

JT001

13-Jul-2018 16:16 PM

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In case you missed this past week market movers and economy news. 

Monday the US stock market rallies ahead of Q3 corporate earnings reports. Dow Jones up +320.11 points, SPY +0.90%, QQQ +0.90%, IBB +0.52%

  • Cell Therapeutics Inc (CTIC)- Phase 3 did not meet primary endpoints
  • Twitter Inc (TWTR) suspends over 70 million accounts in two months: Washington Post
  • DepoMed Inc (DEPO) reaches a settlement with Purdue Pharma, Bloomberg reports

Tuesday Dow Jones second day rallies, closed up 142.12 points, SPY +0.33%, QQQ +0.07%, notable red indices IWM -0.48%, IBB -0.17%.

  • Celgene Corporation (CELG)  announces IMpassion130 study meets co-primary endpoint of PFA
  • Wynn Resorts LTD (WYNN) upgraded to Buy at Stifel, price target $207
  • Tesla Inc (TSLA) plans China plant with 500,00 vehicle capacity

Wednesday the White House will impose 10% tariffs on $200 billion Chinese-made products. Market fear China retaliate, Dow Jones dropped -219.21 points, SPY-0.71%, IWM -0.82%, IBB -0.29%.

  • Achieve Life Sciences, Inc (ACHV) advancement of cytisine development program
  • Pfizer Inc (PFE) says it will postpone price increases after discussion with Trump -CNBC
  • Papa John's International, Inc (PZZA) founder allegedly used N-word on the conference call, the stock dropped -4.84%.

Thursday the US stock market rebound back, the US economic data: Initial Jobless Claims 214k vs 226k estimated, US core CPI Index (June) 257.31 vs 257.36. The Nasdaq rises to all-time high, Dow Jones +0.91%, IBB +1.62%, QQQ +1.72%, IWM +0.45%.

  • Zogenix Inc (ZGNX) primary endpoint achieved. The #BiotechCalculator predicted right

  • Papa John's International Inc (PZZA) founder John Schnatter resigns from the board.
  • Twitter (TWTR) price target raised to $55 from $40 at Goldman Sachs
  • Galmed Pharmaceuticals Ltd (GLMD) Cantor puts $59 price target on 'undervalued' NASH play
  • Facebook (FB) record highs @ $207.08
  • Amazon.com Inc (AMZN) record high 1,798.00

Friday continues second-day rebound 

  • JPMorgan Chase & Co (JPM)  earnings report Q2 EPS $2.29 vs $2.22
  • Johnson & Johnson ordered to pay $4.14B unitive damages in talc cancer case
  • Zogenix Inc (ZGNX) second-day stock rallies after successful Phase 3 news. 

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