The pressure is on for those earnings to support the market's current valuations, after weeks of choppy trading.» Read More
Amgen Inc. fell $2.17 or 1.9 percent, to $111.94. Biogen Idec fell $13.35 or 4.6 percent, to $274.00. Celgene Corp. fell $3.08 or 2.2 percent, to $136.90.
Cisco Systems Inc. fell. 8 percent to $22.46 with 47,023,900 shares traded. Facebook Inc. fell 1.1 percent to $58.53 with 85,527,500 shares traded. Gilead Sciences Inc. rose. 8 percent to $66.03 with 35,640,900 shares traded.
*JPMorgan falls, Wells Fargo gains after results. NEW YORK, April 11- U.S. stocks were little changed on Friday, as biotech stocks staged a rebound from a selloff in the prior session, but disappointing earnings from JPMorgan curbed gains.
*JPMorgan falls, Wells Fargo flat after results. NEW YORK, April 11- U.S. stocks were set for a lower open on Friday after earnings from JP Morgan Chase, putting the S&P 500 on track to continue its selloff after suffering its biggest drop in two months.
LOS ANGELES/ LONDON April 11- Doctors at a key medical conference welcomed the prospect of more new drugs to treat the liver-destroying hepatitis C virus, while agreeing that Gilead Sciences Inc continues to lead the effort.
The Nasdaq composite fell 3 percent, its worst drop since November 2011. Gilead Sciences was among the big biotech names to take a beating, giving up 7 percent. Facebook, which also doubled last year, sank 5 percent.
*VIX, Wall Street's fear index, jumps 15 percent. NEW YORK, April 10- The Nasdaq suffered its biggest drop in two-and-a-half years on Thursday after another sharp selloff in biotech and momentum names, including Gilead Sciences and TripAdvisor, increasing investor anxiety about a broader pullback.
*Biotech index has worst day since August 2011. NEW YORK, April 10- The Nasdaq suffered its biggest drop in two-and-a-half years on Thursday after another sharp selloff in biotech and momentum names, including Gilead Sciences and TripAdvisor, increasing investor anxiety about a broader pullback.
*Biotech indexes have worst day since August 2011. *Bed, Bath& Beyond slumps after earnings. NEW YORK, April 10- U.S. stocks sank on Thursday, with the S&P 500 turning negative for the year and the Nasdaq falling its most in a day since June 2012 as investors again sold high-flying names in the technology and biotech sectors and sought shelter in defensive names.
NEW YORK— The Nasdaq had its worst day since 2011 as investors dumped biotechnology shares and other industries that have soared over the past year. Biogen Idec, Gilead Sciences and other biotech companies plunged. Facebook and Twitter, other recent investor favorites, also dropped.
Amgen Inc. fell $5.13 or 4.3 percent, to $114.87. Biogen Idec fell $14.41 or 4.8 percent, to $286.27. Celgene Corp. fell $6.28 or 4.3 percent, to $141.04.
WASHINGTON, April 10- The leading U.S. pharmaceutical industry trade group on Thursday defended the cost of Gilead Sciences Inc's new hepatitis C drug, Sovaldi, saying such treatments offer a priceless breakthrough for patients with the liver-destroying virus.
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Some of Thursday's midday movers:
MUMBAI, April 10- India's Natco Pharma Ltd has formally asked the Indian patent office to deny U.S. drugmaker Gilead Sciences Inc's new hepatitis C drug Sovaldi a patent in India, a source with direct knowledge of the matter said.
Amgen Inc. fell$. 94 or. 8 percent, to $119.06. Biogen Idec fell $9.27 or 3.1 percent, to $291.41. Celgene Corp. fell $2.36 or 1.6 percent, to $144.96.
NEW YORK— The high-flyers are laying the stock market low— once again. Investors turned against biotech, Internet and other once-soaring stocks on Thursday, driving the Nasdaq composite index to its worst day since 2011..
April 10- A combination of two anti-viral drugs developed by Bristol-Myers Squibb Co cured 90 percent of previously untreated hepatitis C patients and 82 percent of those who failed to respond to prior therapy, according to results from a late stage study presented on Thursday.
April 10- A two-drug combination being tested by Merck& Co to treat hepatitis C cured 98 percent of previously untreated patients without cirrhosis in a midstage clinical trial, providing the latest evidence that the U.S. drugmaker will be highly competitive in the fast evolving field.
Amgen Inc. rose $2.02 or 1.7 percent, to $120.00. Biogen Idec rose $14.76 or 5.2 percent, to $300.68. Celgene Corp. rose $9.10 or 6.6 percent, to $147.32.