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MarketWatch MarketPulseAug 07, 2020
Nasdaq's 7-session win streak halted but Dow, S&P 500 log 6th gain in a row as stock market ends big week of jobs and earnings
U.S. stocks ended's Friday choppy session with meager gains but enough for the the sixth straight gain for the Dow and S&P 500, as Wall Street watched Congress get down to brass tacks on another coronavirus aid package before the summer recess, which looked in doubt as reports suggested that talks may spill over into the weekend. The Dow Jones Industrial Average rose 0.2% at 27,434, the S&P 500 index edged up 2 points to about 3,351, gaining less than 0.1%, while the Nasdaq Composite Index finished solidly lower off 0.9%, ending a streak of seven gains in a row that had taken the tech-heavy index to a series of record closes and a finish about the psychologically significant mark at 11,000 for the first time on Thursday. On display on Friday, and throughout the week, were signs that a rotation out of stocks as again percolating. The small-capitalization Russell 2000 index finished up more than 1% on the day and marked a weekly advance of more than 5%. The benchmark is composed of companies that are viewed as more sensitive to weakness in the economy so rotation there is viewed as a bet on a better outlook for the business environment in the U.S. Similarly, the Dow Jones Transportation Average gained 2.4% on the day and 5.8% on week, with the average consisting of airlines, truckers, railroads and shippers that are also viewed as economically sensitive. The moves for stocks came after the U.S. added 1.76 million jobs in July-just one-third of the unexpected 4.8 million gain last month-with the unemployment rate falling to 10.2% from 11.1% in June. Consensus estimates from economists polled by MarketWatch had been for an increase of 1.7 million jobs on the month. Wall Street is still awaiting a resolution between Democrats and Republicans that might pave the way for an additional coronavirus aid package which is viewed as necessary for limiting the harm from the COVID-19 pandemic.

Market Pulse Stories are Rapid-fire, short news bursts on stocks


MarketWatch MarketPulseAug 07, 2020
GW Pharma shares slide 12% after company swings to loss during pandemic
Shares of GW Pharmaceuticals PLC slumped 12% Friday, after the company swung to a loss in the second quarter, hurt by the effect of the coronavirus pandemic. The U.K. company is the only one to have U.S. Food and Drug Administration approval for a cannabis-based drug, Epidiolex, a treatment for severe forms of childhood epilepsy. The company posted a loss of $8.8 million, or 2 cents a share, for the quarter, after income of $79.7 million in the year-earlier period. Revenue rose to $121.3 million from $72.0 million. "We were pleased with the strength of U.S. Epidiolex sales in the second quarter in spite of the COVID-19 pandemic," Chief Executive Justin Gover said in a statement. Epidiolex sales came to $117.7 million. "Further, the recent approval and imminent launch of Epidiolex for the treatment of seizures associated with TSC provides a meaningful new opportunity to accelerate momentum through the second half of 2020 and beyond," he said. Leerink analyst Marc Goodman said the numbers were "solid" coming in the midst of the pandemic, and in line with management's guidance from its first-quarter conference call. "... we think GW executed through the volatility well, and thus we are surprised that the stock is down ~10% in the after market," he wrote in a Thursday note to clients. Leerink rates the stock as outperform with a $190 stock price target. Shares have gained 11% in the year to date, as the S&P 500 has gained 3.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Yahoo BusinessAug 07, 2020
The Daily Biotech Pulse: Novavax Vaccine Deals, Trevena Awaits FDA Decision, 2 IPOs
Scaling The Peaks (Biotech Stocks Hitting 52-week Highs Aug. 6) * ADiTx Therapeutics Inc (NASDAQ: ADTX) (announced introduction of AditxtScore for COVID-19 to be used in detecting antibodies against SARS-CoV-2 antigens) * Axonics Modulation Technologies Inc (NASDAQ: AXNX) * Biocept Inc (NASDAQ: BIOC) (announced an agreement with Aegea for a highly sensitive PCR-based assay designed by the latter for detecting the COVID-19 virus) * DarioHealth Corp (NASDAQ: DRIO) * Denali Therapeutics Inc (NASDAQ: DNLI)( announced selection of candidate to enter Phase 3 study in Parkinson's disease) * Editas Medicine Inc (NASDAQ: EDIT)(moved on M&A speculation) * Emergent Biosolutions Inc (NYSE: EBS) * Halozyme Therapeutics, Inc. (NASDAQ: HALO) * Harvard Bioscience, Inc. (NASDAQ: HBIO) * ITAMAR MED LTD/S ADR (NASDAQ: ITMR) * Meridian Bioscience, Inc. (NASDAQ: VIVO) * Natera Inc (NASDAQ: NTRA) * PDL BioPharma Inc (NASDAQ: PDLI) * Sangamo Therapeutics Inc (NASDAQ: SGMO) (reacted to its second-quarter results) * Shockwave Medical Inc (NASDAQ: SWAV) * SurModics, Inc. (NASDAQ: SRDX)(reacted to its second-quarter results) * Twist Bioscience Corp (NASDAQ: TWST) * Unity Biotechnology Inc (NASDAQ: UBX) * Zoetis Inc (NYSE: ZTS) (reacted to its second-quarter results)Down In The Dumps (Biotech Stocks Hitting 52-week Lows Aug. 6) * Nkarta Inc (NASDAQ: NKTX) * Orchard Therapeutics PLC - ADR (NASDAQ: ORTX)(announced its second-quarter results)Stocks In Focus Zosano Clinches Di
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