The Week in Charts
Earnings season is soon wrapping up, but we still saw some interesting moves in stocks this week as new all-time highs were set for the S&P500 on Wednesday and Nasdaq on Friday.
Despite recent mini-scares, investors continue to remain comfortable with risk, and nothing shows this better than the performance of the Biotechnology sector…
chart courtesy @upsidetrader.
Case in point, Acadia Pharma:
— SOULLOR (@SOULLOR) Feb. 21 at 11:59 AM
$ACAD ran up Friday in anticipation of its February 27th earnings release. Or was it this?
$ACAD "With “right hand man” CFO leaving, CEO Uli Hacksell may be more willing to entertain M&A bids"
— TSD_Trader (@PTSD_Trader) Feb. 21 at 02:39 PM
We might never know why, but make no mistake, risk is ON in the biotech sector.
M&A activity kicked off the holiday-shortened week with news that Forest Labs was being acquired by Actiance ($ACT) at a nice premium for shareholders.
— Doug Busch (@chartsmarter) Feb. 18 at 03:53 PM
On Wednesday, dip buyers came to the rescue of Panera, sending it’s shares higher for the rest of the week after the initial earnings reaction looked less promising:
— Derald Muniz (@1nvestor) Feb. 19 at 08:28 AM
After the close of trading on Thursday, Groupon offered another daily deal… this time for potential investors looking to buy shares at a discount. Current investors were less-than-thrilled with the latest quarterly earnings results, sending the stock on a nearly 22% tumble. Ouch:
— liya Wong (@humble747) Feb. 21 at 01:40 PM
On Friday, we saw some “interesting” chart action in Barnes & Noble. Investors were met with this nugget midday:
— lumberjax (@lumberjax) Feb. 21 at 11:27 AM
…sending shares rocketing higher:
— stefan cheplick (@scheplick) Feb. 21 at 11:32 AM
Trade ’em well!
~ Sean McLaughlin (@chicagosean)
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