ICYMI. Weekly Stock Market Recap. June 18-22,2018
In case you missed this past week stock market movers news and economy data. Our weekly recap.
Monday trade war tension continues between U.S. vs China. Stock market slide for the 5 days straight. Dow Jones closed -103.01 points, SPY -0.19%, QQQ -0.06%, IWM +0.47% and IBB -0.75%.
- Alphabet Class A (GOOGL) to invest $550M in cash in JD.COM Inc (JD)
- Rent-A-Center (RCII) to be acquired by Vintage Capital for $15 per share.
- Verasteam, Inc (VSTM) stock up 31.39% for the day as company plan for poster presentation at European Hematology Association, June 14-17, 2018
Tuesday U.S. futures fell to 373 points with President Trump target fresh $200 billion in tariffs to China. Dow Jones close down -287.26 points, SPY -0.38%, QQQ -0.28% IWM +0.01%, IBB +1.46%. Notable strength from the biotech sector.
- bluebird bio Inc (BLUE) upgraded to Outperform with $230 price target at Evercore ISI
- Foundation Medicine (FML) Roche acquires for $137 per share or $2.2B
- Sarepta Therapeutics Inc (SRPT) stock soared 36.76% on positive preliminary results for muscular dystrophy gene therapy
- Netflix Inc (NFLX) upgraded at Piper Jaffray with a target to $420
Wednesday bounce back market S&P 500 +0.19%, leader sector was biotechnology, IBB up +1.65%, XBI +2.27%. Dow Jones closed down -42.41 points.
- Twenty-First Century Fox Inc (FOX) agreed upon price for Fox assets to $38 from $28 per share
- Alphabet Class A (GOOGL) record high at 1,201.49
- NetFlix Inc (NFLX) record high at $419.47
- Amazon.com (AMZN) record high at 1,762.93
Thursday a pullback with Nasdaq on an 8 days losing streak
- CASI Pharmaceuticals Inc (CASI) partners with Yiling Wanzhou International Pharma
- Micron Technology Inc (MU) earnings report https://www.tradersfish.com/Earning/micron-technology-inc
- Heron Therapeutics Inc (HRTX) says HTX-01 receives Breakthrough Therapy Designation
- Netflix, Inc (NFLX) price target raised to $500 at Pivotal Research
- Voyager Therapeutics Inc (VYGR) announces FDA granted Regenerative Medicine Advanced Therapy (RMAT) designation for VY-AADC
Friday US market bounce back to avoid the 8 days losing streak, Dow Jones closed up +119.49 points.
- US Steel Corp (X)- Trump says the head of steel called to tell him that his company is expanding
- Soleno Therapeutics Inc (SLNO) initiated with a buy at Roth Capital. Priced Target $14.00
- Hain Celestrial Group Inc (HAIN) Pilgrim's Pride bids on HAIN protein business. -NY Post reports
Thanks for reading.