Mixed News Held Back The Markets from Rallying on Monday
The stock market ended today in a mix of red and green.
The DOW and the S&P finished in the red. Outperforming the other two by a notable distance, the NASDAQ landed a solid +.49% by the end of the trading day.
Investors have a mixed sentiment. On one hand, the Employment Report on Friday confirmed a slow and steady recovery. On the other hand, the Treasury Secretary Janet Yellen commented about interest rates. Yellen stated higher interest rates would benefit society from the Fed’s point of view while pointing that the Fed would not review its monetary policy anytime soon.
The NASDAQ's good day was likely the fault of biotech stocks that held the index up, as the rest of the market wavered just underneath the green.
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FDA Approval of New Alzheimer’s Drug Sends Biogen Stock Soaring
As usual, I visited the Winners and Losers page on Stock Card, and shares of Biogen (BIIB) grabbed my attention. The stock is up more than 37% thanks to the long-awaited FDA approval of its Alzheimer drug.
Until today, you couldn’t find an FDA-approved treatment for the cognitive decline of Alzheimer’s anywhere on the market. Today, Biogen (BIIB) claimed the first treatment for the degenerative disease in almost 2 decades. Not only is this going to bring in billions of dollars of revenue, but the company will hold all the cards (or technically, the only new one) of modernized Alzheimer’s therapy.
This stock has seen a rollercoaster of ups and downs over the course of the development and approvals process. It announced the drug in 2016, but had to scrap the drug 3 years later. Surprisingly, the company revamped its research only months later. Even after the debacle, the drug continued to stay caught up in reviews by the FDA and outside panels of experts. Some may say it’s a miracle that Aducanumab, the new Alzheimer drug, even made it to market. That's why investors were quite surprised. Nevertheless, FDA and Biogen staff alike stand by their results.
Visit Biogen’s Stock Card, you’ll find that the company boasts High Growth Potential, Strong Operations, and Undervalued Stock. With the new drug, the company has set itself up for a successful future.
UiPath’s Upcoming Earnings Report Gives Investors Cold Feet
Earlier this year on April 21st, UiPath (PATH) went public and quickly rallied. It's a part of Stock Card's 2021 IPO list, just search “2021 IPOs” in the search bar. It seems the company is reporting its first quarterly earnings report as a public company tomorrow.
UiPath runs on a business-to-business model. Its platform is utilized by all kinds of companies to eliminate tedious tasks that humans used to be tied to, through artificial intelligence and machine learning.
The stock price was down more than 2% ahead of its earnings report. This may come as unexpected because today the company was named Process Mining Leader in the Technology Vendor Landscape by Everest Group’s PEAK Matrix for the second year in a row. No bad PR has hit them recently, but investors may have cold feet from the looming earnings report due tomorrow. Or, they may be locking their post-IPO gains before they hear any possible bad news from the earnings reports. I haven't dug into the stock quite deeply and it is on my watchlist to learn more about it.
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