Bouncing back from oversold Print E-mail
By Staff and Wire Reports   
Monday, 15 August 2011 13:41
World stocks seem to have started the week a bit more solidly as investors hope that the recent sharp volatility in the markets may have run its course following a run of stronger than anticipated economic data.

Though concerns remain over the state of the global economy and Europe's debt crisis, many investors think the recent sell-off has been overdone and are snapping up potential bargains. Stocks rose for a third day on Monday as investors bought shares whose prices have been beaten down in recent weeks and as news of U.S. deals lifted sentiment.

"The market has become what technicians call oversold a week or so ago, and we're seeing a bit of a bounce from those levels," said Kevin Caron, market strategist at Stifel, Nicolaus & Co in Florham Park, New Jersey.

Leading the charge back in the healthcare sector was Dendreon corporation, whose sudden fall from grace had seen shares sliding significantly until today.

Gainers (% price change) Last Trade Change Mkt Cap
Dendreon Corporation DNDN 12.43 +2.06 (19.86%) 1.85B
Cytori Therapeutics Inc CYTX 3.88 +0.60 (18.29%) 203.58M
EXACT Sciences Corp. EXAS 7.31 +0.87 (13.51%) 384.80M
ISTA Pharmaceuticals, Inc ISTA 4.81 +0.56 (13.18%) 161.77M
Gentiva Health Services GTIV 7.43 +0.86 (13.09%) 227.18M
Losers (% price change)
Cyberonics, Inc. CYBX 24.88 -1.45 (-5.51%) 698.83M
Infinity Pharmaceuticals INFI 7.29 -0.42 (-5.41%) 193.59M
WuXi PharmaTech (Cayman WX 13.50 -0.75 (-5.26%) 117.96M
Merge Healthcare Inc. MRGE 6.09 -0.22 (-3.49%) 513.22M
Delcath Systems, Inc. DCTH 4.00 -0.14 (-3.38%) 172.63M
Most Actives (dollar volume)
Pfizer Inc. PFE 18.28 +0.42 (2.35%) 144.43B
Johnson & Johnson JNJ 64.41 +1.05 (1.66%) 176.56B
Gilead Sciences, Inc. GILD 37.27 -0.16 (-0.43%) 28.75B
Merck & Co., Inc. MRK 32.05 +0.71 (2.27%) 98.93B
Amgen, Inc. AMGN 51.54 +1.54 (3.08%) 47.62B

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