A 10% pop for top holding Celgene (CELG) drove iShares Nasdaq Biotechnology (IBB) -- the second largest health care ETF -- to a new high on the stock market today. Celgene announced late Tuesday that it would acquire San Diego-based Receptos (RCPT) for $7.2 billion. Celgene's robust Q2 earnings and revenue results also beat analyst consensus estimates. The New Jersey-based biotech giant said the Receptos buy "significantly enhances Celgene's
Wednesday 15 July 2015
Biotech ETF Pops On Celgene-Receptos Deal
Otmane El Rhazi from Investor's Business Daily - ETFs RSS.
A 10% pop for top holding Celgene (CELG) drove iShares Nasdaq Biotechnology (IBB) -- the second largest health care ETF -- to a new high on the stock market today. Celgene announced late Tuesday that it would acquire San Diego-based Receptos (RCPT) for $7.2 billion. Celgene's robust Q2 earnings and revenue results also beat analyst consensus estimates. The New Jersey-based biotech giant said the Receptos buy "significantly enhances Celgene's
A 10% pop for top holding Celgene (CELG) drove iShares Nasdaq Biotechnology (IBB) -- the second largest health care ETF -- to a new high on the stock market today. Celgene announced late Tuesday that it would acquire San Diego-based Receptos (RCPT) for $7.2 billion. Celgene's robust Q2 earnings and revenue results also beat analyst consensus estimates. The New Jersey-based biotech giant said the Receptos buy "significantly enhances Celgene's
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