NEW YORK, NY / ACCESSWIRE / July 20, 2018 / U.S. indexes ended their five day winning streak, which was spurred by strong corporate earnings, as losses from the financial sector dragged markets lower on Thursday. The Dow Jones Industrial Average dropped 0.53 percent to close at 25,064.50, while the S&P 500 Index was down 0.40 percent to close at 2,804.49. The Nasdaq Composite Index shed 0.37 percent to close at 7,825.30.
“Equity benchmarks are reacting to some disappointing earnings releases today, but we should note that overall moves are modest,” according to Matthew Forester, chief investment officer at BNY Mellon's Lockwood Advisors. “Since 2012, the large chunk of equity gains came during the earnings season and we expect this to be the case this year,” Forester added.
RDI Initiates Coverage on:
PTC Therapeutics, Inc.
Seattle Genetics, Inc.
PTC Therapeutics' stock jumped 4.46% Thursday, to close the day at $36.55. The stock recorded a trading volume of 1,275,595 shares, which was above its three months average volume of 1,284,156 shares. In the last year, PTC Therapeutics' shares have traded in a range of 14.56 - 52.95. The share price has gained 151.03% 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 $34.23 is above its 200-day moving average of $27.37. Shares of PTC Therapeutics have gained roughly 9.96 percent in the past month and are up 119.12 percent year-to-date.
Access RDI's PTC Therapeutics, Inc. Research Report at:
On Thursday, shares of Seattle Genetics recorded a trading volume of 1,036,038 shares, which was above the three months average volume of 938,893 shares. The stock ended the day 3.66% higher at $70.52. The share price has fallen 1.36% from its 52-week high with a 52-week trading range of 45.31 – 71.49. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $66.32 is above its 200-day moving average of $57.06. Shares of Seattle Genetics have gained roughly 7.21 percent in the past month and are up 31.81 percent year-to-date.
Access RDI's Seattle Genetics, Inc. Research Report at:
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