|Bid||203.00 x 800|
|Ask||204.40 x 1100|
|Day's Range||200.36 - 205.41|
|52 Week Range||166.30 - 211.90|
|Beta (3Y Monthly)||0.89|
|PE Ratio (TTM)||16.20|
|Earnings Date||Oct 28, 2019 - Nov 1, 2019|
|Forward Dividend & Yield||5.80 (2.91%)|
|1y Target Est||206.90|
The topsy-turvy ride for stock traders continues this morning with U.S. stock futures pointing toward a sizeable down gap at the open. Yesterday's gains are being completely unwound.Source: Shutterstock Heading into the open, futures on the Dow Jones Industrial Average are down 1.46%, and S&P 500 futures are lower by 1.42%. Nasdaq-100 futures have lost 1.57%.In the options pits, call volume spiked sharply yesterday underlying the excitement surrounding the market rally. Specifically, about 19.9 million calls and 17.5 million puts changed hands on the session.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe enthusiasm was felt at the CBOE as well, with the single-session equity put/call volume ratio falling to 0.66. Meanwhile, the 10-day moving average held its ground at 0.74. Based on the wickedness of today's open, however, I suspect both metrics to end with bearish readings today.Options traders came after calls throughout the session, boosting volumes in Amgen (NYSE:AMGN), American Airlines Group (NYSE:AAL) and Apple (NASDAQ:AAPL).Let's take a closer look: Amgen (AMGN)The direction of Amgen shares reversed in a big way this week after the biotech behemoth won a patent dispute against Novartis (NYSE:NVS). Over the past three sessions, AMGN stock has rocketed 12% higher on massive volume. The rally pushed shares back to last year's highs, and they now stand a whisper from breaking out to record levels. * 15 Growth Stocks to Buy for the Long Haul In the short run, AMGN is extended and deserving of a breather. Consolidation or a pullback will allow its moving averages to catch-up and make for a more sustainable uptrend. That said, any weakness should be viewed as a buying opportunity.On the options trading front, traders went cuckoo for calls. Activity ballooned to 1,314% of the average daily volume, with 275,296 total contracts traded; 96% of the trading came from call options alone. The catalyst for such a groundswell in call demand is the company's looming ex-dividend date. Amgen's next quarterly payment of $1.45 will be paid out to shareholders of record and investors used call options to snatch-up short-term control of the stock to gain access to the payout.Implied volatility has been falling this week and now sits at 24% or the 29th percentile of its one-year range. Premiums are baking in daily moves of $3.08 or 1.5%, so set your expectations accordingly. American Airlines (AAL)The news was light for American Airlines Group, but that didn't prevent traders from swarming its options. In an otherwise ordinary day, we saw options activity jump to 270% of the average daily volume, with 107,237 total contracts traded. Calls slightly outpaced puts to claim 55% of the session's sum.Ever since last month's earnings took the wind out of its sails, AAL stock has been declining. It has now lost 21% in three weeks and will soon test its 52-week low at $27.02. Of course, weakness isn't new for AAL. It has been in a cyclical decline for two years and has already lost over 53% of its value. Until we see resistance levels breached, buyers should cast their lines elsewhere. There are much more attractive fish to catch.Implied volatility remains, tucked near the middle of its 2019 range. It's at 41% or the 31st percentile, and premiums are pricing in daily moves of 71 cents or 2.6%. Apple (AAPL)Apple stock led the charge during Tuesday's roaring rally in the Nasdaq for one simple reason. It dodged Chinese tariffs for this year's iPhones. Here's the skinny if you want all the details.Before we get too excited over yesterday's jump, keep in mind the overnight whacking for stocks is taking a bite out of Apple's gains. The stock is set to open down 2.4%. Time will tell if the positive news is enough to keep AAPL stock aloft while the rest of the market grapples with growing recession concerns. * 7 Stocks the Insiders Are Buying on Sale The post-earnings slide found support at $192.50, so that's the line in the sand to watch. If broken, this year's ascent is in a heap of trouble. Until then, ignore the chop and focus on the bigger picture, which still points higher.On the options trading front, traders favored calls throughout the day. Total activity swelled to 137% of the average daily volume, with 686,707 contracts traded. Calls added 59% to the day's take.With uncertainty easing, implied volatility sunk to 29% or the 35th percentile of its one-year range. That means traders are now pricing in daily movement of $3.87 or 1.9%.As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 15 Growth Stocks to Buy for the Long Haul * 5 More Cloud Stocks With Plenty of Potential * 5 Clean Energy ETFs to Buy for 2019 The post Wednesday's Vital Data: Amgen, American Airlines and Apple appeared first on InvestorPlace.
Amgen (AMGN) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
Zacks Industry Outlook Highlights: Gilead Sciences, Regeneron Pharmaceuticals, Amgen, Vertex Pharmaceuticals and Alexion Pharmaceuticals
Amgen stock is the IBD Stock Of The Day after the biggest biotech company prevailed in a patent battle against Novartis subsidiary Sandoz, protecting nearly $5 billion in 2019 U.S. sales.
Favorable patent ruling related to Enbrel and strong second-quarter results drive Amgen (AMGN) stock 22.6% higher in the past three months.
Amgen stock continued a two-day run Monday and approached a buy point after a judge upheld two key patents protecting the biotech company's blockbuster drug Enbrel against a Sandoz copycat.
U.S. stocks dipped in a broad sell-off on Monday as rising geopolitical tensions spooked investors away from equities and the extended U.S.-China trade war stoked fears of impending global recession. All three major U.S. stock indexes started the week in the red, with few earnings reports and no economic data to soothe market jitters over protests in Hong Kong, the rejection of Argentine President Mauricio Macri's economic agenda in primary elections, and a tariff dispute that has beleaguered markets for months. Goldman Sachs Group Inc said on Sunday that its economists see recessionary risks increasing as the trade war between the world's two largest economies drags on, and no longer expect a resolution before the 2020 U.S. presidential election.
Shares of Amgen Inc. rose another 4.5% on Monday after gaining nearly 6% on Friday, when a U.S. judge upheld two patents related to the pharmaceutical company's best-selling drug Enbrel. The two patents protect Enbrel's active ingredient until 2029, and the Friday ruling denied a challenge by Novartis AG's Sandoz unit, which is looking to release a biosimilar version of the blockbuster drug. Sandoz plans to appeal the ruling. Amgen's Enbrel, used to treat rheumatoid arthritis and psoriasis, brought in more than $5 billion in world-wide sales in 2018, with $4.8 billion of that from U.S. sales. "The ruling removes a critical overhang for the company as Enbrel... is a significant component of the base commercial business and a meaningful contributor of revenue, cash flows and dividend capacity," Evan Seigerman of Credit Suisse wrote in a note sent out to clients on Saturday. Shares of Amgen have gained 5.6% so far this year, while the S&P 500 has gained 15.2%.
Wall Street's main indexes fell on Monday as protests in Hong Kong added to concerns on the pace of growth in China, already under pressure from the prolonged bout of U.S. trade tensions that have dominated financial markets this year. The three main indexes ended marginally lower last week, wrapping up five days of high volume trading marked by wild swings, as investors feared that a slide in China's yuan would expand the scope of the trade war to include currencies. Protests in Hong Kong crippled one of the world's busiest airports and added to the sense of crisis gripping one of China's key global connection points.
U.S. stocks slipped on Monday, dragged down by financial shares, as investors fled riskier assets on fears that a drawn-out trade war between the United States and China could force the global economy into recession. The three main Wall Street indexes ended marginally lower last week, wrapping up five days of high volume trading marked by wild swings, as investors feared that a slide in China's yuan would expand the scope of the trade war to include currencies. President Donald Trump said on Friday he was not ready to make a deal with China, pouring cold water on any hopes that the dispute would end soon.
Despite lower demand hurting volumes of Enbrel, it remains the largest drug for Amgen (AMGN). A district court decision prevents Novartis from launching Erelzi, its biosimilar version of Enbrel.
The biotech company Amgen won a lawsuit Friday that likely protects its patents on its blockbuster rheumatoid arthritis drug Enbrel until 2029.
Shares of Amgen were rising nearly 5% Monday after the drugmaker won a patent case against rival Novartis over its highly anticipated rheumatoid arthritis treatment Enbrel. Amgen's Enbrel patents likely will be protected until 2029.
A U.S. Judge up-held 2 patents relating to Amgen’s Rheumatoid Arthritis drug Enbrel after they were challenged by competitor Novartis. Yahoo Finance's Scott Gamm joins Akiko Fujita to discuss.