U.S. Stock Market News Today: Check Out the Pharma Stock That Soared 300%

Email

Stock Market News Today, Jan. 9, 2014: U.S. stocks are fairly flat today, with all three indexes down just a smidge, weighed after today's jobless claims report that was on par with analyst expectations.

The Dow Jones Industrial Average today is down slightly at 16,456, while the Nasdaq Composite Index is off 0.12% at 4,160. The Standard & Poor's 500 is down less than a point at 1,837.

U.S. jobless claims fell by 15,000 to 330,000 last week, which is about what the Street expected. It's a five-week low for applications for unemployment benefits.

In energy futures, light sweet crude oil for February delivery is down 0.6% at $91.80 per barrel, and heating oil is down 0.7% at $2.93 per gallon. Natural gas has plunged 3.6% at $4.06 per million BTUs.

Metals futures are more positive. Gold for February delivery is up 0.2% at $1,228.00 per ounce, while silver for March delivery is up about 0.3% at $19.60.

Today's Stock Market Gainers: Intercept, Conatus, Galectin

The healthcare sector is welcoming a slew of gainers today, with stocks up anywhere from 30% to 300%.

The major success story is Intercept Pharmaceuticals Inc. (Nasdaq: ICPT). ICPT shares are up close to 300% and have hit a record high of $305.

The reason: Its trial to study obeticholic adic, a treatment for nonalcoholic steatohepatitis, has been stopped earlier than planned after already meeting the primary endpoint.

Analysts claim the decision to end trials is an indication of the rush to make available a treatment for NASH, a disease that Intercept CEO claims is at "epidemic proportions."

Riding ICPT's coattails, Conatus Pharmaceuticals Inc. (Nasdaq: CNAT) shares are up about 90% at around $11.80, after easing off a new record high of $14.17 hit today. Galectin Therapeutics Inc. (Nasdaq: GALT) is up near 30% to around $10.90.

In other major stock market gainers today, United Continental Holdings Inc. (NYSE: UAL) is up about 7% today after this major news yesterday…

Join the conversation. Click here to jump to comments…

Leave a Reply

Your email address will not be published. Required fields are marked *


5 − four =

Some HTML is OK