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U.S. stocks opened higher Friday, with all three major benchmarks comfortably in the green right out of the gate.
As has been the case over the last several Fridays, initial public offerings (IPOs) dominated market news, with six companies debuting today.
It was a mixed picture for the half dozen new issues, with some pricing below the expected range, some slipping on the open, and others posting modest gains.
Today's Hot Stocks List
Amgen Inc. (Nasdaq: AMGN) shares rose more than 1% to $124.12 in morning trading after Jefferies raised its price target on the stock to $144 from $138. Sunday, AMGN will present pivotal phase 3 data from five clinical studies evaluating evolocumab (AMG 145). Evolocumab is an investigational fully human monoclonal antibody that inhibits a protein that reduces the liver's ability to remove "bad" cholesterol from the blood. AMGN will release details at the American College of Cardiology's 63rd Annual Scientific Session in Washington, D.C.
Baxter International Inc. (NYSE: BAX) rose 1% to $73.75 after RBC Capital Markets raised its price target on shares to $76. Thursday, the healthcare giant announced plans to split into two separate companies, one focused on biopharmaceuticals and one on medical products.
BlackBerry Ltd. (Nasdaq: BBRY) shares were boosted on better-than-expected Q4 earnings. Shares of the beleaguered smartphone maker rose more 6% to $9.64 on heavy volume in early trading. BBRY reported a loss of $0.08 per share in the quarter, handily beating forecasts of a $0.55 per share loss. Sales were in line at $976 million. The company lost $423 million in Q4, down sharply from the whopping $4.4 billion loss posted during the prior quarter.
Bofi Holding Inc. (Nasdaq: BOFI) shares bounced 15% to $88.18, following a two week sell-off from yearly highs of $106.55. BOFI, America's 22nd largest bank, is the holding company for the Bank of the Internet Federal Bank, a nationwide bank based in San Diego. It has been one of the best-performing stocks over the last five years as investors and consumers have come to realize that Internet banking is here to stay.