|Stocks see best gains in two weeks|
|By Staff and Wire Reports|
|Tuesday, 23 August 2011 17:56|
The Dow, which tracks 30 huge U.S. companies including IBM Corp. and General Electric Co., closed with a gain of 3 percent at 11,176.76. Indexes that track smaller stocks did even better, a sign that investors were more willing to take on risk. The S&P 500 index rose 38.53 points, or 3.4 percent, to 1,162.35. The Nasdaq composite, which tracks mainly technology companies, rose 100.68 points, or 4.3 percent, to 2,446.06. The Russell 2000 index of smaller U.S. companies gained even more, 4.9 percent.
In healthcare, the speculators appeared to join insiders after nearly every one of the stocks featured in our article about Big Board Healthcare Stocks Being Snapped Up by Insider Executives saw nice gains during Tuesday's action. The only exception was Agenus Inc. (NASDAQ: AGEN), which saw shares climb up then down after a Seeking Alpha writer bashed CEO Armen Garo's sizable purchase of the stock in the open market as a desperate move to avoid de-listing of the company's stock from NASDAQ.
On the flip side, shares of Idenix Pharmaceuticals (Nasdaq: IDIX) continued the steady climb they began seven sessions ago. Shares of the company rose 13.12% to $5.39 +0.62 despite the fact that they traded only half as many shares as usual (54.32 % -vs- Average). IDIX is a biopharmaceutical company engaged in the discovery and development of nucleosides, nucleoside analogs, nucleotides and non-nucleosides to treat viral infectious diseases caused by hepatitis B virus, hepatitis C virus and human immunodeficiency virus.
Here is a glance at the rest of Tuesday's movers in healthcare: