Staff and Wire Reports
Wednesday, 05 October 2011 15:36
Signs of growth in the U.S. economy also pushed stocks higher and growth in the service sector was in line with Wall Street's expectations. It was reported that private companies added 91,000 jobs last month.
Stocks rose sharply higher for a second straight day on signs that European officials are moving to support the region's struggling banks.
Analysts said the gains were triggered by reports that European officials are exploring ways to limit the damage should the Greek government default on its debt.
In the healthcare sector, there were several multi-point gainers for the first time in several sessions. Shares of Orexigen (NASDAQ:OREX) rose 14% after bouncing off newly formed technical support levels just under the $2 level. The biopharmaceutical company focused on the treatment of obesity's approach involves taking advantage of the synergy between established products, combined with novel science, resulting in unique mechanisms of action that act on the central nervous system. The company's drug combinations are designed to initiate and sustain weight loss by reducing appetite and increasing metabolism. The Company's lead product candidates are - 1) Contrave® is an investigational medication for the treatment of obesity; and 2) Empatic(TM) is a fixed-dose combination of zonisamide sustained release (SR) and bupropion SR.
|Gainers (% price change)
|Alphatec Holdings, Inc.
|Brookdale Senior Living
|Array BioPharma Inc.
|Losers (% price change)
|MELA Sciences, Inc.
|Palomar Medical Tech
|Most Actives (dollar volume)
|Johnson & Johnson
|Merck & Co., Inc.
|Bristol Myers Squibb Co.
| "Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'.
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