After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
Secretary of State Mike Pompeo privately told business executives and free traders that the trade war could end by the 2020 election and that hurdles to an immediate agreement...2020 Electionsread more
Market bull Jeff Saut told CNBC on Tuesday that the lows are in and the market is headed "much higher."Marketsread more
Urban Outfitters reported earnings and same-store sales for the second quarter that beat analyst expectations, while revenue fell short.Retailread more
President Donald Trump believes he has quite the bargaining chip with the European Union.Marketsread more
Some Apple employees have become disillusioned with the group's culture, where some have thrived while others feel sidelined.Technologyread more
The United States does not have a defense against hypersonic weapons, which can travel at least five times the speed of sound, or a little more than a mile per second....Defenseread more
President Donald Trump renewed calls Tuesday to readmit Russia to the G-7 ahead of the group's summit in Biarritz, France, this weekend.Politicsread more
Biden has shown staying power at the top of a jammed Democratic field even as polling numbers for Sanders, Warren and Harris wax and wane.2020 Electionsread more
Finding value in biotech stocks is increasingly difficult as the sector enjoys a strong run, a biotech investor said on Friday.
"Good drugs and good results will ultimately drive value" as the sector progresses, Les Funtleyder, healthcare portfolio manager at E Squared Asset Management, told CNBC's "Power Lunch. "
Biotech's climb is evident in the iShares Nasdaq Biotechnology ETF, which tracks biotech and pharmaceutical names on the Nasdaq and has floated more than 20 percent higher this year. Biogen popped nearly 10 percent higher on Friday on news that an Alzheimer's drug exceeded expectations in an early test.
The stock has even more upside from where it was trading Friday, around $475 per share, Yaron Werber, senior biotech analyst at Citi Investment Research, told "Power Lunch." As the Alzheimer's drug likely will not reach the market for years, it is important to Biogen's long-term prospects, he said.
When looking at valuations, investors need to consider that low interest rates support risk assets like biotech stocks, Funtleyder said. The sector has popped in the sustained near-zero interest rate environment set by the Federal Reserve.
Both Funtleyder and Werber noted that companies making drugs in multiple disease areas, such as Biogen, can better sustain their valuations.
"They're not single drug companies. They can support some of the valuation," Funtleyder said.