NEW YORK, NY / ACCESSWIRE / September 6, 2018 / Major U.S. equities were mixed on Wednesday with tech stocks posting worst daily drop since July dragging Nasdaq lower. The Dow Jones Industrial Average was up 0.09 percent to close at 25,974.99, while the S&P 500 Index decreased 0.28 percent to close at 2,888.60. The Nasdaq Composite Index dropped 1.19 percent to close at 7,995.17.
“I don’t see any specific catalyst pushing tech lower, and it’s pretty quiet from the perspective of news about these stocks, which makes me think this is a classic sector rotation,” said managing director for trading at Evercore ISI, Douglas DePietro. “These groups have been outperforming, and this could be an example of investors taking profits, particularly since September is a historically turbulent month and a lot of big banks and brokerage houses have been encouraging their clients to lighten up on their tech exposure,”
RDI Initiates Coverage on:
Spectrum Pharmaceuticals, Inc.
Spectrum Pharmaceuticals' stock moved 2.23% lower Wednesday, to close the day at $21.05. The stock recorded a trading volume of 1,829,657 shares, which was above its three months average volume of 1,403,909 shares. In the last year, Spectrum Pharmaceuticals' shares have traded in a range of 9.03 - 25.29. The share price has gained 133.11% from its 52 week low. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $22.50 is above its 200-day moving average of $19.96. Shares of Spectrum Pharmaceuticals have gained roughly 2.38 percent in the past month and are up 11.08 percent year-to-date.
Access RDI's Spectrum Pharmaceuticals, Inc. Research Report at:
On Wednesday, shares of NovoCure recorded a trading volume of 851,411 shares, which was above the three months average volume of 684,684 shares. The stock ended the day 4.12% lower at $43.10. The share price has fallen 5.17% from its 52
Access RDI's NovoCure Limited Research Report at:
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