IBB

GAITHERSBURG, Md., Dec. 19, 2024 (GLOBE NEWSWIRE) -- Altimmune, Inc. (NASDAQ:ALT), a clinical-stage biopharmaceutical company, today announced that it will be added to the Nasdaq Biotechnology Index (NASDAQ:NBI) effective prior to the market open on Monday, December 23, 2024. "Our addition to the NBI is an important recognition to conclude what has been a year of major progress for the Company," said Vipin K. Garg, Ph.D., President and Chief Executive Officer of Altimmune. "With a number of significant inflection points coming in 2025, including the topline data from the Phase 2b IMPACT trial of pemvidutide in MASH in the second quarter, we believe that we are well positioned heading into

June closed on a high note for the stock market, with the S&P 500, tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), gaining 3.2%, despite significant disparities in sector and industry performances. The technology sector, as tracked by the Technology Select Sector SPDR Fund (NYSE:XLK), led the 11 S&P 500 sectors in performance last month, surging 7.7% and achieving its strongest monthly gain this year. In stark contrast, utilities lagged, with the Utilities Select Sector SPDR Fund (NYSE:XLU) dropping 6.3%, marking the worst month since September 2023. Top Performing Industry ETFs In June The iShares Expanded Tech-Software Sector ETF (NYSE:IGV) rallied 11.3% last month, topping

Wall Street is experiencing a subdued and low volatility trading day Friday, despite the session coinciding with the “triple witching” day, with over $5.1 trillion of notional options exposure expiring, surpassing the previous record set in December 2023. Chipmakers continue to struggle in the aftermath of Thursday’s sell-off, suggesting that while the wave of profit-taking is easing, there is little sign of new buyers stepping in at these levels. Nvidia Corp. is down 1.6%, poised to break an eight-week winning streak. The sector benchmark, the iShares Semiconductor ETF (NYSE:SOXX), is witnessing its worst two-day performance since May 1. The major indices and sectors remained flat,

As April comes to a close, it’s time to compile the rankings for the top-performing sector and industry exchange-traded funds of the month. Taking a broader look at the stock market, the S&P 500 Index, represented by the SPDR S&P 500 ETF Trust (NYSE:SPY), finished April on a downturn, declining by approximately 3%. This marks the end of a five-month streak of gains. Similarly, the tech-heavy Nasdaq 100, tracked by the Invesco QQQ Trust (NASDAQ:QQQ), experienced a 3.5% decline. Among large-cap indices, blue-chip stocks showed slight underperformance, with the SPDR Dow Jones Industrial Average ETF (NYSE:DIA) slipping by 4.5%. Small-cap stocks, represented by the iShares Russell 200

Markets are primed for a revival in mergers and acquisitions (M&A) in 2024 following the worst performance in almost a decade for deal-making in 2023. Equity and M&A experts believe that, after a year beset by volatile markets and rising interest rates, 2024 offers improving conditions for takeover deals and corporate mergers. “Capital markets were not as open or freewheeling, and 2023 did not happen the way we thought it would," said Tom Miles, Head of Americas M&A at Morgan Stanley. “The market forces are in place that make an eventual return inevitable. It's not a question of if but when.” One piece of the M&A jigsaw that was largely missing last year was private equity (PE)

The early 2024 sell-off is intensifying on Wall Street, with all major stock averages in the red on the second trading day of 2024. The tech-heavy Nasdaq 100 plunged by 1% at noon in New York, extending its two-day slump to 2.6%. Wednesday’s declines spare no mercy for the blue-chip stocks of the Dow Jones, which managed to avoid losses on Tuesday, causing value-related stocks to fall as well. The S&P 500 index is at risk of closing its third consecutive day in the red, marking the worst streak since late October. Small-cap stocks, the stars of the late 2023 rally, are underperforming, with the iShares Russell 2000 ETF (NYSE:IWM) plummeting by 1.6%. The CBOE Volatility Index or VI

Wall Street kicked off 2024 on a weaker note, with the S&P 500 dipping by 0.5%, and the Nasdaq 100 experiencing a 1.4% decline in midday trading in New York. The tech sector played a notable role in dragging down the broader stock market performance. Interestingly, blue-chip and small-cap stocks managed to dodge substantial losses, showing marginal gains. Among the prominent “Magnificent Seven” stocks, six were in the red, with Tesla Inc. (NASDAQ:TSLA) being the sole exception, maintaining a flat performance for the day. Apple Inc. (NASDAQ:AAPL) took a notable hit, tumbling by 3%, marking its most challenging session since early September, following a downgrade from Barclays. NVIDIA Co

Piper Sandler Cos (NYSE:PIPR) has identified three biotech stocks as its “top picks” for 2024. The investment bank is signaling a potential turnaround for the sector next year. As illustrated in the data below, the biotech sector is lagging behind the broader U.S. equity market, as indicated by the performance of the SPDR S&P 500 ETF (NYSE:SPY).The iShares Biotechnology ETF (NYSE:IBB) is a popular benchmark to gauge the performance of biotech equities in the U.S. Also Read: Quality US Equities Lay Path To Gains In 2024: 3 ETFs To Consider As reported by CNBC, Piper Sandler analysts Edward Tenthoff and Thad Barney remain optimistic about the biotech industry. They see attractiv

The U.S. stock market saw modest gains in a session characterized by low trading volumes following the Christmas holiday. The S&P 500 Index gained 0.3% during midday trading in New York, eyeing its all-time highs, which are 1% above the current levels. Tech stocks within the Nasdaq 100 index experienced a slight uptick of 0.4%, while blue-chip stocks rose by 0.2%. Small-cap stocks, as represented by the iShares Russell 2000 ETF (NYSE:IWM), continued to outperform large-cap indices, extending the market narrative from December. The dollar saw a marginal 0.2% decrease, while Treasury yields remained stable. Gold recorded a 0.3% increase, reaching $2,060 per ounce, while Bitcoin (CRYPT

The S&P 500 and Nasdaq 100 indices are on the verge of achieving an impressive eight consecutive weeks of gains following a more significant decline than expected in the Federal Reserve’s favored inflation gauge in November, the Personal Consumption Expenditures (PCE) price index. For the S&P 500, this marks its longest run of positive weekly closes since September 2017, while for the Nasdaq 100, it’s the longest since January 2019. Additionally, economic data unveiled on Friday showed consumer spending to be softer than anticipated, along with a positive revision to the Michigan Consumer Sentiment Index and durable goods orders that surpassed expectations. The iShares Russell 2000

On Thursday, Wall Street rebounded into positive territory, following a brief dip experienced on Wednesday. At midday trading New York time, all major stock indices were trading in the green as traders prepared for the final trading week of the year. The S&P 500 made a modest 0.3% gain, but its equal-weighted counterpart, the Invesco S&P 500 Equal Weight ETF (NYSE:RSP), outperformed with a 0.5% increase. The Dow also edged up by 0.3%. Tech stocks within the Nasdaq 100 surged by 0.5%, while small-cap stocks continued to outperform, with the Russell 2000 gaining 1%. Long-term bond yields saw a slight increase, with the popular iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) declining

Stocks inched higher during midday trading in New York on Wednesday, with the momentum carrying over from the previous day when the tech-heavy Nasdaq 100 achieved fresh record highs. The percentage of S&P 500 stocks trading above the 50-day moving average has surged to 90%, reaching its peak for the year. Small-cap stocks, as tracked by the iShares Russell 2000 ETF (NYSE:IWM), continue to outperform large-cap counterparts, boosting their month-to-date performance to 12.5%, the strongest since November 2020. Treasury yields remained relatively stable, with the 10-year yield at 3.9% and the 30-year yield hovering around 4%. The dollar has seen a 0.2% increase. Among commodities, g

Activist investor Elliott Investment Management has taken a significant position in BioMarin Pharmaceutical Inc (NASDAQ:BMRN), engaging with the company on its strategic direction amid leadership changes and the evolving status of its hemophilia treatment, Roctavian.  The hedge fund has invested over $1 billion in BioMarin, which specializes in rare genetic diseases and has a market capitalization of approximately $16 billion. Elliott's involvement comes at a critical time for BioMarin as it navigates a CEO transition and adjusts its strategy for Roctavian, whose sales forecast has been revised downward from $50 million-$150 million to less than $10 million, prompting analysts to temper th

The major U.S. stock indices, closely monitored through ETFs — the SPDR S&P 500 ETF Trust (NYSE:SPY), SPDR Dow Jones Industrial Average ETF (NYSE:DIA), Invesco QQQ Trust (NASDAQ:QQQ), and the iShares Russell 2000 ETF (NYSE:IWM) — are all poised to finish the month with negative results. This will mark the first month of losses after a consecutive 5-month winning streak for both the SPY and the QQQ. However, it’s worth considering which industries have fared better or worse in the stock market throughout August 2023. Top-Performing Industry ETFs In August 2023 The list isn’t extensive, and the winners for August don’t boast astonishing performance, underscoring the prevailing

Shares of weight-loss drug manufacturers came to the party last week on the back of positive news flow from these companies. What Happened: Danish drug giant Novo Nordisk A/S (NYSE:NVO) said its first-half sales and net profit jumped 29% and 43% year-over-year, thanks to a 367% jump in the sales of its weight-loss drug Wegovy. More importantly, the company raised its outlook for the year. Notwithstanding the positive results, the stock settled the session down about 2.9%. The muted reaction was due to the strong gains the stock racked up on Thursday, when it reported positive results for a study that evaluated Wegovy as a preventative option for major cardiovascular events such as a st

The disinflationary trend continued in July, even though the annual CPI inflation rate saw a slight increase from 3% to 3.2% last month, breaking a streak of 12 consecutive months of decline. The low base effect from a year ago is to blame, but what matters for investors is that the inflation rate came in a tad lower than the expected 3.3%. Even more crucial is the fall in core inflation, which excludes energy and food items, and is closely monitored by the Fed to assess monetary policy, down to 4.7% year-on-year, below both the previous and the anticipated 4.8%. Traders wasted no time in updating their expectations for future interest rates, solidifying the belief that the Fed wil

As July comes to an end, it’s time to take a look at the best- and worst-performing industry ETFs for the month. Among the largest ETFs that represent major U.S. stock indices, the SPDR S&P 500 ETF Trust (NYSE:SPY) returned 3.1% in July, marking its fifth consecutive month of gains. The SPDR Dow Jones Industrial Average ETF (NYSE:DIA) had similar monthly performance, but the Invesco QQQ Trust (NASDAQ:QQQ) outperformed by 3.8%. The strongest performer, though, was the iShares Russell 2000 ETF (NYSE:IWM), which increased by 4.9%. Which industries have performed significantly better than the overall market? Which ones, on the other hand, had a particularly rough month despite the broader

U.S. Attorney General Merrick Garland said that the Justice Department would file an appeal with the U.S. Supreme Court seeking to block the entirety of Kacsmaryk's order suspending the FDA approval of the abortion pill mifepristone.  Garland said the administration "will be seeking emergency relief from the Supreme Court to defend the FDA's scientific judgment and protect Americans' access to safe and effective reproductive care." The New Orleans-based 5th U.S. Circuit Court of Appeals put on hold part of last Friday's order by U.S. District Judge Matthew Kacsmaryk in Amarillo, Texas, while he hears a lawsuit by anti-abortion groups seeking to ban it. The Planned Parenthood Federation

A U.S. federal appeals court has temporarily blocked a decision by a Texas judge to halt the FDA's approval of a widely used abortion drug. The abortion pill mifepristone will remain available in the U.S. for now but with some restrictions, including requiring in-person doctor visits to obtain the drug and limiting its use to the first seven weeks of pregnancy from the current ten, a federal appeals court ruled. Related Content: New York and California Prepare For Potential Mifepristone Ban In Texas With Stockpiling Of Alternative Abortion Medications. In his last week ruling, Texas Judge Matthew Kacsmaryk ordered pulling mifepristone from the market in seven days, saying the FDA had vi

New York and California are stockpiling an alternative abortion medication in case a Texas judge's order suspending the FDA approval of the primary drug, mifepristone, goes into effect later this week. The alternative option, misoprostol, is FDA-approved to treat gastric ulcers, noted CNBC. But the use of misoprostol alone to induce abortions is endorsed by the World Health Organization and is used in countries where mifepristone is unavailable. Also Read: Attorney Generals of Over 20 States Sound Alarm Over Suspension Of Abortion Med Approval: "Devastating Risks" Ahead. It will remain on the market if U.S. District Judge Matthew Kacsmaryk's order suspending mifepristone takes effect th

In a new court filing, the Democratic attorneys general for 23 U.S. states have reportedly warned that a federal judge's decision to suspend the FDA's approval of mifepristone "presents devastating risks to millions of people," including those in states where abortion remains legal. The attorneys general, in their filing, called on the U.S. 5th Circuit Court of Appeals to keep mifepristone on the market. Last week Friday, a U.S. judge suspended the FDA's approval of mifepristone, an abortion pill to terminate a pregnancy through ten weeks gestation. But he put his decision on hold for one week to give the Biden administration time to appeal. Also Read - Drugmakers Stand Up for Reproduc

Today, the FDA announced the final decision to withdraw approval of Privately held-Covis Pharma's Makena (hydroxyprogesterone caproate injection), a drug approved under the accelerated approval pathway to reduce the risk of preterm birth.  The decision was issued jointly by the FDA Commissioner and Chief Scientist.  Effective today, Makena and its generics are no longer approved and cannot lawfully be distributed. The FDA approved Makena under the accelerated approval pathway in 2011 based on a determination that the sponsor had demonstrated a drug effect on an intermediate clinical endpoint that was reasonably likely to predict clinical benefit.  The agency's approval required the spo

On CNBC’s "Halftime Report Final Trades," Bryn Talkington of Requisite Capital Management said she is sticking with AbbVie Inc. (NYSE:ABBV), which has a 7.3% free cash flow yield and a dividend of over 3%. They innovate in immunology and oncology, she added. Analysts have a consensus Outperform rating on ABBV, according to Benzinga's analyst ratings data. AbbVie said it sees FY23 adjusted earnings of $10.62 to $11.02 per share, versus analysts’ estimates of $11.07 per share. Karen Firestone of Aureus Asset Management named another healthcare name, Thermo Fisher Scientific Inc (NYSE:TMO), saying that this is a stock that peaked in December 2021. They can "now start to outperform big

U.S. District Judge Matthew Kacsmaryk questioned President Joe Biden's administration lawyers on whether the federal regulatory approval of the abortion pill mifepristone was proper. The judge is reportedly considering a request by anti-abortion groups to ban sales of the drug nationwide. The judge raised the possibility of keeping the drug on the market but re-imposing some restrictions lifted by Biden's administration, including requiring it to be dispensed in person rather than by mail.  Kacsmaryk said he would rule "as soon as possible." Related: New York Governor, Attorney General Ask Three Pharmacy Operators' Commitment Over Abortion Drug Access. The anti-abortion groups sued th