NEW YORK, NY / ACCESSWIRE / August 24, 2018 / U.S. markets plunged on Thursday following the release of the minutes from the latest Federal Reserve meeting, which called for an interest hike in September. Investors appear to be focused on the upcoming speech from Federal Reserve Chairman Jerome Powell's this Friday. The Dow Jones Industrial Average dropped 0.30 percent to close at 25,656.98, while the S&P 500 Index declined 0.17 percent to close at 2,856.98, as 10 out of 11 sectors ended in the red. The Nasdaq Composite Index shed 0.13 percent to close at 7,878.46.
''Look, it’s late August, things are moving around,'' according to Sahak Manuelian, managing director of equity trading at Wedbush Securities. “I’m not being dismissive of these moves lower but I think it’s important to put it into context, and take a step back,” he added.
RDI Initiates Coverage on:
Halozyme Therapeutics, Inc.
Halozyme Therapeutics' stock jumped 3.68% Thursday, to close the day at $18.30. The stock recorded a trading volume of 1,342,408 shares, which was above its three months average volume of 756,179 shares. In the last year, Halozyme Therapeutics' shares have traded in a range of 12.13 - 21.48. The share price has gained 50.87% 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 $17.40 is below its 200-day moving average of $18.65. Shares of the company are trading at a Price to Earnings ratio of 34.99. Shares of Halozyme Therapeutics have gained roughly 0.11 percent in the past month and are down 9.67 percent year-to-date.
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On Thursday, shares of Akorn recorded a trading volume of 12,725,504 shares, which was above the three months average volume of 2,273,396 shares. The stock ended the day 17.56% lower at $14.93. The share price has fallen 55.61% from its 52 week high with a 52 week trading range of 10.76 - 33.63. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $18.20 is below its 200-day moving average of $18.35. Shares of Akorn have fallen roughly 13.55 percent in the past month and are down 53.68 percent year-to-date.
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