NEW YORK, NY / ACCESSWIRE / October 26, 2018 / U.S. equities bounced back on Thursday supported mostly by gains in consumer discretionary and technology shares. The Dow Jones Industrial Average jumped 1.63 percent to close at 24,984.55, as Microsoft topped analysts' earnings expectations, while the S&P 500 Index increased 1.86 percent to close at 2,705.57. The Nasdaq Composite Index surged 2.95 percent to close at 7,318.34, lifted by gains in Facebook and Netflix.
According to the co-chief investment strategist at The PNC Financial Services Group, Amanda Agati,"Corrections like this are actually healthy for the market."
"What is surprising to me is where the finger is being pointed at. It's not clear to me that anything has changed in the last month”, she added.
RDI Initiates Coverage on:
ACADIA Pharmaceuticals Inc.
Array BioPharma Inc.
ACADIA Pharmaceuticals' stock jumped 10.55% Thursday, to close the day at $21.27. The stock recorded a trading volume of 2,121,370 shares, which was below its three months average volume of 2,808,840 shares. In the last year, ACADIA Pharmaceuticals' shares have traded in a range of 12.77 - 38.00. The share price has gained 66.56% 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 $19.01 is above its 200-day moving average of $17.21. Shares of ACADIA Pharmaceuticals have fallen roughly 0.65 percent in the past month and are down 29.36 percent year-to-date.
Access RDI's ACADIA Pharmaceuticals Inc. Research Report at:
On Thursday, shares of Array BioPharma recorded a trading volume of 2,199,164 shares, which was below the three months average volume of 2,348,953 shares. The stock ended the day 6.2% higher at $14.55. The share price has fallen 28.01% from its 52 week high with a 52 week trading range of 9.98 - 20.21. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $14.49 is below its 200-day moving average of $15.47. Shares of Array BioPharma have fallen roughly 4.15 percent in the past month and are up 13.67 percent year-to-date.
Access RDI's Array BioPharma Inc. Research Report at:
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