NEW YORK, NY / ACCESSWIRE / October 16, 2018 / U.S. markets failed to remain in the green on Monday as a technology sector selloff erased earlier gains. Tech giants Netflix and Apple both dropped more than 1.8 percent after analysts change their price targets on the stocks. The Dow Jones Industrial Average decreased 0.35 percent to close at 25,250.55, while the S&P 500 Index declined 0.59 percent to close at 2,750.79. The Nasdaq Composite Index closed down 0.88 percent to close at 7,430.74.
"While broader market performance and rising rates concerns have been more important factors for stock price performance, we believe that upside to consensus expectations and what the strength in subscriber net additions says about Netflix's business, beyond just guidance for the next quarter, is likely to be a positive catalyst for the stock," according to Goldman's Heath Terry.
RDI Initiates Coverage on:
Flex Pharma, Inc.
Dr. Reddy's Laboratories Limited
Flex Pharma's stock jumped 79.25% Monday, to close the day at $0.95. The stock recorded a trading volume of 9,268,679 shares, which was above its three months average volume of 471,556 shares. In the last year, Flex Pharma's shares have traded in a range of 0.39 - 8.98. The share price has gained 143.59% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $0.49 is below its 200-day moving average of $2.14. Shares of Flex Pharma have gained roughly 103.86 percent in the past month and are down 72.78 percent year-to-date.
Access RDI's Flex Pharma, Inc. Research Report at:
On Monday, shares of Dr. Reddy's Laboratories recorded a trading volume of 443,979 shares, which was above the three months average volume of 291,585 shares. The stock ended the day 3.86% higher at $34.45. The share price has fallen 13.79% from its 52 week high with a 52 week trading range of 28.13 - 39.96. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $34.61 is above its 200-day moving average of $32.50. Shares of the company are trading at a Price to Earnings ratio of 28.42. Shares of Dr. Reddy's Laboratories have fallen roughly 4.49 percent in the past month and are down 8.28 percent year-to-date.
Access RDI's Dr. Reddy's Laboratories Limited Research Report at:
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