August 7, 2019 6:44pm

Where are the headlines of clinical initiatives and data results?

Q2 earnings season is not doing investors any favors

Are the estimates so hard to fathom in “our” universe’s journey through the Q2/19’s reporting cycle!

NO

 

Markets and indexes:

  • The Dow closed down -22.45  points or -0.09% to 26,007.07;
  • The S&P closed up +2.21 points or +0.08% at 2,883.98;
  • The NASDAQ was up +29.56 or +0.38% to 7,862.83;

 

The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:

  • Wednesday the IBB closed up +0.27% while the XBI closed up +0.30%
  • Tuesday the IBB closed up +1.42% while the XBI closed up +2.20%
  • Monday the IBB closed down -2.65% while the XBI closed down-3.25%

 

Henry’omics:

Headlines matter … in these markets …

The trade war between China and the U.S. has been going on for more than a year. Investors have been worried about its ramifications in terms of global growth as headlines depreciate and devalue stocks and sector equities.

The benchmark S&P 500 is now about 6% away from its all-time high it hit last month and on pace to drop for the seventh time in the last eight sessions.

The trade concerns remerged after President Donald Trump last week threatened to slap 10% levies on the rest of $300 billion of Chinese imports and called China a currency manipulator on Monday <Reuters>.

 

Pre-open post, “caution as earnings reported missed revenue estimates and per share losses; NASDAQ futures were lower and slipping, I’d espouse restraint.”

 

The advance/decline line scenario of 45 covered companies:  

  • Wednesday the close was negative with an A/D Line of 19/21 and 3 flats and 2 acquired;
  • Tuesday the close was positive with an A/D Line of 32/10 and 1 flat and 2 acquired;
  • Monday the close was negative with an A/D Line of 2/41 and 0 flat and 2 acquired;

 

Decliners:

  • ReNeuron (RENE.L -$7.00 after Tuesday’s -$5.00 and Monday’s -$18.00);
  • AxoGen (AXGN -$5.14);
  • Audentes Therapeutics (BOLD -$1.89);
  • Fate therapeutics (FATE -$1.29);
  • Regenxbio (RGNX -$0.56);

Incliners:

  • Alnylam Pharmaceuticals (ALNY +$6.12 after Tuesday’s +$2.97);
  • Sage Therapeutics (SAGE +$5.93 after Tuesday’s +$5.70 and Monday’s -$4.12);
  • Ionis Pharmaceuticals (IONS +$3.61);
  • Ultragenyx (RARE +$3.61 after Tuesday’s +$3.84);
  • Stemline Therapeutics (STML +$0.80);

 

The percentage (%) indicators: 

  • Wednesday’s range of the 19 upside was +0.14% (BCLI) to +8.23% (ALNY) while the 21 downside ranged from -0.22% (BLUE) to -29.24% (AXGN);
  • Tuesday’s range of the 32 upside was +0.20% (VYGR) to +17.40% (STML) while the 10 downside ranged from -0.01% (BMRN) to -4.62% (BLCM);
  • Monday’s range of the 2 upside was +0.63% (ADVM) to +1.02% (KOOL +$0.03) while the 41 downside ranged from -0.21% (ONCE) to -9.80% (CRSP);

 

Upside volume stats:  to compare

  • Wednesday: 5 out of the 19 upside had higher than the 3 month average volume;
  • Tuesday: 10 out of the 32 upside had higher than the 3 month average volume;
  • Monday: 1 out of the 2 upside had higher than the 3 month average volume;

Downside volume stats: NOTICE

  • Wednesday: 10 out of the 21 downside had higher than the 3 month average volume;
  • Tuesday: 2 out of the 10 downside had higher than the 3 month average volume;
  • Monday: 18 out of the 31 downside had higher than the 3 month average volume;

 

3 flat – ATHX, BTX and SLDB with 2 acquired (AST & OSIR) with the Spark Therapeutics’ (ONCE) acquisition by Roche still being delayed (SEPTEMBER?)

 

August’s sessions:

Wednesday closed NEGATIVE with 21 decliners, 19 advancers, 3 flats and 2 acquired (AST & OSIR);

Tuesday closed POSITIVE with 10 decliners, 32 advancers, 1 flat and 2 acquired (AST & OSIR);

Monday closed NEGATIVE with 41 decliners, 2 advancers, 0 flat and 2 acquired (AST & OSIR);

Friday closed NEGATIVE with 34 decliners, 8 advancers, 1 flat and 2 acquired (AST & OSIR);

Thursday closed POSITIVE with 19 decliners, 22 advancers, 2 flat and 2 acquired (AST & OSIR);

 

 

Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice.

Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.  All investments are subject to risks. Investors should consider investment objectives.

Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.