Stock Commentary - New York week to April 14, 2008
20 April 2008
NEW YORK: saw equities move lower through four of the reporting days to April 14, impacted by the start of the first-quarter reporting season seeing some poor results. The Dow Jones Industrial Average fell more than 2% on April 11 after conglomerate General Electric missed consensus estimates. The index finished the week 2.5% lower, with 30 of the drug and biotechnology stocks declining, seven rising and two unchanged.
Look out for large capital biotechnology stocks such as Genentech and Gilead to outperform in what is likely to continue to be a volatile market, according to JP Morgan analysts, who expect a relatively short recession.
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Stock Commentary - New York week to April 14, 2008
NEW YORK: saw equities move lower through four of the reporting days to April 14, impacted by the start of the first-quarter reporting season seeing some poor results. The Dow Jones Industrial Average fell more than 2% on April 11 after conglomerate General Electric missed consensus estimates. The index finished the week 2.5% lower, with 30 of the drug and biotechnology stocks declining, seven rising and two unchanged.
Look out for large capital biotechnology stocks such as Genentech and Gilead to outperform in what is likely to continue to be a volatile market, according to JP Morgan analysts, who expect a relatively short recession.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
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