Today’s Research Reports on Trending Tickers: Amgen and Allergan
A selloff in technology stocks and elevated bond yields combined to pressure U.S. equities lower on Thursday. The Dow Jones Industrial Average dropped 0.22 percent to close at 24,713.98, while the S&P 500 Index declined 0.09 percent to close at 2,720.13. The Nasdaq Composite Index fell 0.21 percent to close at 7,382.47.
“Interest rates and bond yields are the elephant in the room for equity markets. As they move higher, equities will become increasingly volatile, especially since valuations are stretched and on the high side,” said Bill Kornitzer, portfolio manager at Buffalo Funds, which has about $7.5 billion in assets.
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Amgen’s stock moved 0.49% higher Thursday, to close the day at $174.65. The stock recorded a trading volume of 1,875,881 shares, which was below its three months average volume of 4,864,016 shares. In the last year, Amgen’s shares have traded in a range of 152.16 – 201.23. The share price has gained 14.78% from its 52 week low. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $171.75 is below its 200-day moving average of $177.68. Shares of the company are trading at a Price to Earnings ratio of 64.93. Shares of Amgen have fallen roughly 0.13 percent in the past month and are up 0.43 percent year-to-date.
Access RDI’s Amgen Inc. Research Report at:
On Thursday, shares of Allergan recorded a trading volume of 3,492,504 shares, which was above the three months average volume of 3,175,867 shares. The stock ended the day 3.69% higher at $160.23. The share price has fallen 37.61% from its 52 week high with a 52 week trading range of 142.81 – 256.80. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $158.36 is below its 200-day moving average of $166.47. Shares of Allergan have fallen roughly 3.96 percent in the past month and are down 2.05 percent year-to-date.
Access RDI’s Allergan plc Research Report at:
Our Actionable Research on Amgen Inc. (NASDAQ:AMGN) and Allergan plc (NYSE:AGN) can be downloaded free of charge at Research Driven Investing.
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