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Rod Raynovich
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Rod Raynovich is an entrepreneur and executive with a focus on life science companies and medical technology trends.He has over 30 years executive experience including Abbott and JNJ and has been involved three successful start-ups. He has a B.S, from Penn State University and an MBA from... More
My company:
Raygent Capital
My blog:
  • Biotech Stocks Mixed On A Down Day In Market 0 comments
    Jun 12, 2014 5:57 PM | about stocks: XBI

    NASDAQ Off 0.8% On Disappointing Economic Data and Spiking Crude

    Islamic militants took major cities in Iraq causing a spike in oil to $106. The energy sector rallied 0.7% with many smaller players soar over 4%. The energy sector is very strong up 10% YTD. Retails sales rose less than expected with a 0.3% increase in purchases and jobless benefits increased.

    Intel (NASDAQ:INTC) was up 5.2% after hours on a raised outlook for PC demand.

    Looking at Futures now energy is up, silver up. gold up and equities down.

    Biotech Stocks are mixed After a mid-day sell off but the volatile XBI is flat for the day a good sign. Our mid-cap index of 50 stocks was slightly down with mixed green and red. Arena (NASDAQ:ARNA) and Acceleron (NASDAQ:XLRN) were up on good volume.

    Our large cap portfolio has minimal damage with FBT and Regeneron (NASDAQ:REGN) up and Abbvie (NYSE:ABBV) and Alexion (NASDAQ:ALXN) down.

    Rayno Life Science Movers With IBB Off 0.5%

    New Picks: Fibrocell Science (FCSC $3.75) up 8.75%, Pacific Biosciences (PACB $6) up 4.34% and Trinity Biotech (TRIB$23) down 0.7%.

    Big Losers:

    Achillion (NASDAQ:ACHN) off on profit taking.

    Ariad (NASDAQ:ARIA) down 8.69% on $175M convert deal.

    Illumina (NASDAQ:ILMN) down 3% on profit taking.

    Big Winners:

    Albany Molecular (NASDAQ:AMRI) on upgrade and acquisition.

    Immunogen (NASDAQ:IMGN) up 8.82% moving off lows for year.

    Response Genetics (NASDAQ:RGDX) up 3.8% moving off lows for year.

    Disclosure: The author is long ACHN, FCSC, PACB, IMGN.

    Stocks: XBI
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