October 22, 2019 8:44am
Biogen (BIIB) reports quarterly and nine (9) month “numbers” today, bellwether for what’s to come
Ionis Pharmaceuticals (IONS) adds to the Q’s reporting list of four (4) so far: BMRN, VSTM and ATHX
News: The U.K.’s Competition and Markets Authority has opened an investigation into the acquisition of Spark Therapeutics (ONCE) by Roche Holding AG. The regulator said it is looking into whether the deal will result in a substantial lessening of competition, and has set Dec. 16 as its deadline to decide whether it will continue the investigation. Roche said it agreed to buy the ONCE in February in a bid to expand its presence in hemophilia treatment.
Insight is about understanding perception and is putting into context what is relevant to expectation fulfillment …
Be imaginative in considering explanations for missing, confusing and often contradictory data while human analysis is able to identify one’s own biases and expectation of what the data might/should/could show!
Dow futures are DOWN -0.05% (-14 points), S&P futures are UP +0.14% (+4 points) and NASDAQ futures are UP +0.35% (+28 points)
U.S. stock index futures should turn although slightly higher after an early slide;
European markets reversed early losses as U.K. lawmakers gear up to debate Prime Minister Boris Johnson’s EU Withdrawal Agreement Bill, while traders also track a slew of corporate earnings while the pan-European Stoxx 600 edged 0.1% above the flat line;
Asia Pacific markets rose, likely fueled by an improvement in investor sentiment around ongoing negotiations between the United States and China;
Data docket: the Philadelphia Fed non-manufacturing index for October will be released at around 8:30 a.m. ET. Existing home sales for September and the Richmond Fed survey for October will follow slightly later in the session.
The markets are focused to the bac-and-forth negotiations of “face” related to global trade developments after China’s vice foreign minister said that Beijing and Washington had achieved some progress in their trade talks.
Where is the news of our sector, we are clutching our throats, waiting for another clinical miss having just realized a competitive action against a pharmaceutical acquisition.
Woes to come…?
These market indexes should propel “some” of “our’ universe forward – TODAY!
Monday night’s newsletter heading: “sector equities are along for the ride with market indexes.”
- The NASDAQ closed UP +73.44 points (+0.91%)
- The IBB closed up +1.31% and the XBI closed up +1.44%
- The close was positive with an A/D line of 28/13, 1 flat, 1 reversed merged (HSGX) and 2 acquired;
- The range of the 28 upside was +0.70% (SAGE) to +7.22% (PSTI +$0.22) while the 13 downside ranged from -0.14% (ONVO) to -7.80% (RENE.L);
- 5 out of the 28 upside had higher than the 3 month average volume;
- 3 out of the 13 downside had higher than the 3 month average volume;
- October registered 7 positive, 1 neutral and 8 negative close, so far …
- September, there were 1 holiday, 11 negative, 7 positive and 2 non reported sessions;
Companies in my headlights – It’s your decision; I provide an idea and context:
*** I haven’t changed … follow the trading herd but … mindful of upcoming quarterly results and their effect upon share pricing … BUY and get trampled in the coming sessions or SELL into strength or just HOLD and wait to resolve relieve the anxiety until value returns.
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.