The market went on a wild ride Tuesday after opening higher on positive comments from Federal Reserve Chairman Ben Bernanke. He said the Fed still expects the economy will recover during the second half of the year thanks to interest rate cuts, Fed loans to the Financial institutions, and taxRead more
Lehman Brothers Making Market Nervous
Marvel Entertainment Hulking Up
Marvel Entertainment (MVL, $35.18, up $1.31) is trading higher today after Standard & Poor’s said the company will soon replace insurer The Commerce Group in the S&P MidCap 400 index which is being acquired by Mapfre. No date of the change has been set. In after-hours trading last night, MarvelRead more
Anheuser-Busch Prepares For Offer
Anheuser-Busch (BUD, $57.78, up $0.32) hit another 52-week high Monday after it was reported that Belgium’s InBev is close to securing $50 billion in its efforts to launch a takeover bid for the company. The stock hit a high of $59 even. Volume was incredible with 13 million shares tradingRead more
Avant Immunotherapeutics In-Play
Another stock that is doing well today is Avant Immunotherapeutics (AVAN, $18.75, up $4.74) which is up 33% after hitting a high of $19.79 earlier in the session. The company released data showing their cancer vaccine CDX-110 more than doubled the survival time in certain brain cancer patients. The 23Read more
Before the Bell – Drug Stocks
All of these companies presented data at the American Society of Clinical Oncology’s (ASCO) annual meeting in Chicago over the weekend and traders are busy pouring over the results before the market opens. Imclone Systems – (IMCL, $43.58). The stock is down $2.78 to $40.80 in pre-market trading after itRead more