Dow Continues Record Streak: Today’s Research Reports on La Jolla Pharmaceutical and Advanced Micro Devices
U.S. markets rose across the board Monday, with the Dow Jones closing at a new all-time high for the 12th consecutive session as investors eagerly await President Donald Trump’s speech to Congress Tuesday, which is expected to provide some details on tax cuts and an overhaul of the health-care system. The Dow Jones Industrial Average gained 0.08 percent to close at 20,837.44, up 5.44 percent year-to-date, while the S&P 500 Index gained 0.1 percent to close at 2,369.75, up 5.85 percent year-to-date.
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“People are ultimately focused on what kind of tone President Trump will strike during his speech on Tuesday,” said Ian Winer, director of equity trading at Wedbush Securities. “The biggest risk to stocks would be a speech that is nationalistic and protectionist, something markets do not like,” Winer said.
"What I’m watching out for is whether his focus is on the pro-growth policies or on the populist message," said Dan Miller, director of equities at GW&K Investment Management.
Let’s Take a Closer Look at Today’s Trending Tickers
La Jolla Pharmaceutical’s shares soared 76.75 percent to close at $35.12 a share on Monday. The stock traded between $28.20 and $37.67 on volume of 18.30 million shares traded. The company reported that its LJPC-501 (angiotensin II) drug, a treatment for catecholamine resistant hypotension, achieved its primary objective in a recent late stage study. Shares of La Jolla Pharmaceutical have gained approximately 100 percent year-to-date.
“These study results support that angiotensin II, a molecule first synthesized by Dr. Irvine Page at the Cleveland Clinic, improves outcomes in distributive shock patients requiring high-dose catecholamines. Given the high mortality from this condition, it is important to offer physicians another potential treatment option,” said Daniel Sessler, M.D., the Michael Cudahy Professor and Chair of the Department of Outcomes Research at Cleveland Clinic.
Advanced Micro Devices’ shares spiked 7.65 percent to close at $15.20 a share on Monday. The stock traded between $14.27 and $15.35 on volume 95.42 million shares traded. The company has received a lot of attention since releasing their new Ryzen central processing units last week. The Ryzen CPU promises to outperform competitor Intel’s CPUs at a fraction of the cost. AMD is scheduled to present at the 2017 Game Developers Conference in San Francisco on Feb. 28 at 10:30 a.m. PT. Shares of Advanced Micro Devices have gained approximately 34.0 percent year-to-date.
Today’s Features Includes:
La Jolla Pharmaceutical Company (NASDAQ:LJPC)
Advanced Micro Devices, Inc. (NASDAQ:AMD)
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