NEW YORK, NY / ACCESSWIRE / September 29, 2017 / The Dow Jones Industrial Average and the S&P 500 Index edged higher Thursday as investors continued to digest details of the GOP's tax reform plan and data showed the U.S. economy accelerated in the second quarter. The Dow Jones gained 0.16 percent to close at 22,376.60, while the S&P 500 Index increased 0.12 percent to close at 2,509.96. The NASDAQ Composite Index rallied late to close flat for the day at 6,453.45. On Thursday, the Commerce Department reported gross domestic product grew at an annual rate of 3.1 percent in the April-June quarter, up from its previous estimate of 3.0 percent last month.
"The destruction caused by Hurricanes Harvey and Irma and the resulting disruption ... are expected to be a drag on third-quarter growth," said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Kalamazoo, Michigan, according to Reuters. "Nonetheless, the economy remains on track."
RDI Initiates Coverage on:
Spectrum Pharmaceuticals Inc.
MannKind Corporation's stock jumped 20.00% Thursday, to close the day at $2.22. The stock recorded a trading volume of 6,049,715 shares, which was above its three months average volume of 2,605,710 shares. In the last year MannKind Corporation's shares have traded in a range of 0.67 - 4.35. The share price has gained 231.34% from its 52 week low. The company's shares are currently trading above their 200-day moving average. Moreover, the stock's 50-day moving average of $1.63 is greater than its 200-day moving average of $1.46. Shares of the company are trading at a Price to Earnings ratio of 1.67. Shares of MannKind have fallen approximately 30.27 percent year-to-date.
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On Thursday, shares of Spectrum Pharmaceuticals Inc. recorded a trading volume of 8,040,024 shares, which was above the three months average volume of 903,023 shares. The stock ended the day 22.97% higher at 13.49. The share price has gained 320.25% from its 52 week low with a 52 week trading range of 3.21 - 13.59.The company's shares are currently trading above their 200-day moving average. Moreover, the stock's 50-day moving average of $9.43 is greater than its 200-day moving average of $7.42. Shares of Spectrum Pharmaceuticals have gained approximately 204.51 percent year-to-date.
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