ICYMI! Weekly Stock Market Recap. June 4-8, 2018


20-Jun-2018 18:24 PM



Inc case you missed it, this week stock market news. 

Monday the U.S. market opening gap up follow through from last Friday's job report numbers. Dow Jones closed up +178.48 points, SPY +0.47%,  notable strength is coming from the tech sector with QQQ +0.90%, the weak from biotech, IBB -0.65%.

  • Microsoft (MSFT) to buy GitHub for $7.5 billion in stock
  • Loxo Oncology Inc (LOXO) interim data LOXO-292 presentation at #ASCO18.
  • bluebird bio inc (BLUE) clinical data update at #ASCO18
  • Nektar Therapeutics (NKTR) preliminary data PIVOT phase 1/2 study at #ASCO18, stock plunge on the update. The ORR in stage 2 dropped to 50%. Stock down -41.82% for the day.

Tuesday from Tony Dyer at Canaccord boost his 2018 S&P 500 target to 3200.

  • Starbucks (SBUX) chairman Howard Schultz is stepping down from board and management
  • Mylan NV (MYL)  FDA approves the first biosimilar to Neulasta, the drug Fulphila.

Wednesday U.S. market opening strong for third day straight rallies, Dow Jones closed up +346.41 points, SPY +0.85%, QQQ +0.58%, IWM +0.71%, IBB +1.25%

  • AXON licenses OXB-102 from Oxford BioMedica, OXB-102, now AXO-Lenti-PD.
  • Athenahealth Inc (ATHN)- CEO Johnathan Bush steps down
  • Tesla Inc (TSLA) on track to make 5,000 Model 3s a week, by end of the month. Stock up +9.74% to close at $319.50
  • (AMZN) stock made new 52 weeks high at $1,714.50

Thursday market continues four-day rallies, but the notable weak sector was the technology, at the closing bell QQQ -0.81%, SPY -0.01%, IWM -0.55%, IBB -0.69%.

  • Mimedx Group (MDXG) withdraws all prior financial guidance issued for 2018. Stock down -23.39%
  • Proteostasis Therapeutics Inc (PTI) announced 'positive' results from Phase 1 study of PTI-801. Stock down -38.16%
  • Facebook stock weakness due to report data-sharing to the Chinese firm. Stock down -1.65%

Friday U.S. stock quiet ahead of the G7 summit in Canada, Dow Jone closed +75.12 points, SPY +0.31%,  QQQ +0.01%, IBB +0.32%.

  • Acorda Therapeutics Inc (ACOR) shares trading higher from Ampyra patent hearing
  • Apple Inc (AAPL) asked iPhone supply China to prepare 20% fewer components, Nikkei
  • Savara Inc (SVRA)Evercore ISI analyst Joshua Shimmer price target stock at $40.00.
  • iQiyi (IQ) stock show relatively up +6.39% at closed. For 1 month up +103.83%.

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