Jan 22
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Bank stocks are entering earnings season near the lows. JP Morgan Chase and Citigroup kick off the group’s earnings season on Friday. Both are at 52-week lows. So is KeyCorp, Bank of America, Comerica, and PNC. Banks haven’t entered earnings season in this bad a shape since the early days of covid. 🚨 Hello 👋 I'm interested to learn about Insider Trading⚡️Spiking AI Copy Trading 🤖 Cryptos + Options + Stocks 🔥 Profit 5-100% in 1 Day 🚀 Follow our youtube channel https://youtube.com/spiking and Visit https://spi.ke/help today! ✅ Sign up for my webinar for free at https://spi.ke/meeting! 💬 Let me know what you think of this video in the comment section below.
Three analysts upgraded Biogen after the biotech company reported “best-case scenario” results from a late phase in a study of a potential Alzheimer’s drug. Biogen’s results from Phase 3 of the Abeta-targeting drug study prompted enthusiasm from BMO along with analysts from Baird and Mizuho, who see the results as leading to FDA approval, government reimbursement, and limited competition. The results essentially showed the drug from Biogen slowed the decline of Alzheimer’s patients. Volunteers on the medication, called Lecanemab, saw a reduction in the cognitive decline of about 27%. Biogen shares shot up about 35% on the news.
Stocks slumped on Friday and were on pace for another losing week as investors feared the Federal Reserve’s aggressive hiking campaign to fight inflation will lead to an economic downturn. The Dow Jones Industrial Average fell by 408 points, or 1.36%, while the S&P 500 slid 1.7%. The Nasdaq Composite lost 2%. Friday marked the fourth negative session in a row for the major averages, with the Dow falling below its June closing low and the 30,000 mark.