U.S. stocks closed slightly lower on Thursday, but a rally during the previous three sessions left the main indexes with solid gains for the holiday-shortened week.
The S&P 500 ended 3.30 points or 0.2%, lower at 2,060.99 and booked a 2.8% gain over the week. On Thursday, nine of its 10 main sectors closed lower. The energy sector, which tallied big gains over the past few session, lead the losses, down 0.9%, despite oil prices climbing.
The Dow Jones Industrial Average 50.44 points, or 0.3%, to 17,552.17 and finished the week 2.5% higher. The blue- chips gauge snapped a nine-session string of triple-digit moves–its longest such streak since Sept. 26-Oct. 6 2011.
Meanwhile, the Nasdaq Composite ended the day up 2.56 points or less than 0.1%, at 5,048.49 and recorded a 2.6% gain over the week.
“Today’s volumes were exceedingly light, so we should not read too much into today’s action,” said Jack Ablin, chief investment officer at BMO Private Bank.
Clovis Oncology Inc (NASDAQ:CLVS) weekly performance is 6.85%. On last trading day company shares ended up $34.14. CLVS distance from 50-day simple moving average (SMA50) is -45.43%. CLVS shares increased 0.83% in last trading session and ended the day at $34.14. CLVS return on assets is -37.80%. On Dec. 23, 2015 the securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Clovis Oncology Inc (NASDAQ:CLVS) (“Clovis” or the “Company”) securities during the period between October 31, 2013 and November 13, 2015 inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until January 19, 2016 to seek appointment as lead plaintiff.
Merrimack Pharmaceuticals Inc (NASDAQ:MACK) shares increased 4.9% and was closed at $8.21. MACK EPS was -$1.00%. MACK year to date (YTD) performance is -27.35%. Company Name MACK weekly volatility is calculated as 6.01% and price to cash ratio as 15.21. MACK showed a weekly performance of 0.12%. Merrimack Pharmaceuticals Inc (NASDAQ:MACK) on Dec. 22, 2015 stated it filed an amendment to its ongoing Phase 2 clinical study of MM-121 (seribantumab) in patients with heregulin-positive non-small cell lung cancer (NSCLC) with the U.S. Food and Drug Administration (FDA). The amendment includes a change in primary endpoint to overall survival to enable a potential registration opportunity for MM-121.
“We believe MM-121 has the potential to address the pervasive clinical problem of resistance in cancer. This amendment is intended to accelerate development of this new treatment option for heregulin-positive non-small cell lung cancer patients who are resistant to standard-of-care therapies,” said Robert Mulroy, Merrimack’s President and CEO. “The financing we announced today will allow us to independently advance and retain sole ownership of MM-121. In light of this amendment, we are focusing the development of MM-121 on this indication.”
Illumina, Inc. (NASDAQ:ILMN) shares increased 1.97% in last trading session and ended the day at $189.00. ILMN return on assets is 14.30%. ILMN quarterly performance is 0.38% with YTD performance of 2.39%. The company’s Price to cash ratio is 19.22% whereas the Price to Earnings ratio is 55.16%. The stock’s RSI is 62.60 and its weekly volatility is 2.72%. Illumina, Inc. (NASDAQ:ILMN) on Dec. 14, 2015 declare the launch of bioMérieux EpiSeq™, an innovative next-generation sequencing (NGS) service dedicated to the epidemiological monitoring and control of healthcare-associated infections. The bioMérieux EpiSeqTM service is the first result of the collaboration agreement signed by bioMérieux and Illumina in November 2014 bringing together the companies’ respective leadership positions in microbiology and NGS to jointly develop applications for microbiology sequencing.
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