Russell 2000 Reversing the Trend – Latest Updates on ACAD, DWA, GLUU and PDLI
New York, New York – April 14th, 2016 – Markets were buoyed by better-than-expected earnings from J.P. Morgan Chase & Co. on Wednesday. Shares of J.P. Morgan Chase & Co. jumped 4.62 percent to close at $62.02 a share. "Bank stocks have been so beaten up that any good news, either on better credit conditions driven by higher energy prices or news on cost-cutting, is likely to underpin those stocks," said Julian Emanuel, equity and derivatives strategist with UBS.
Small-cap stocks have begun to outperform their larger counterparts in recent weeks. The Russell 2000 Index (INDEX: RUT) is down 0.61 percent year-to-date, but is up 3.8 percent in the past month, compared to a 2.87 percent gain for the S&P 500 Index over the same period. As of the close of market on February 11th, the Russell 2000 Index had fallen approximately 16.0 year-to-date.
Here is how some Russell 2000 companies reacted Wednesday:
ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) shares gained 3.04 percent to close at $33.22 a share Wednesday. The stock traded between $31.82 and $33.31 on volume of 2.31 million shares traded. The U.S. Food and Drug Administration (FDA) Psychopharmacologic Drugs Advisory Committee (PDAC) has recently voted 12 to 2 that the benefits of ACADIA’s NUPLAZID™ (pimavanserin) for the treatment of psychosis associated with Parkinson’s disease outweigh the risks of treatment. Shares of ACADIA Pharmaceuticals have fallen approximately 7.0 percent year-to-date, but have rallied roughly 65.0 percent in the past month.
Find out more about ACADIA Pharmaceuticals including full access to the equity report at:
Dreamworks Animation Skg Inc. (NASDAQ: DWA) shares gained 4.62 percent to close at $26.05 a share Wednesday. The stock traded between $24.95 and $26.11 on volume of 1.04 million shares traded. The company is scheduled to release results for the first quarter of 2016 on Thursday, May 5th. Shares of Dreamworks Animation s have gained approximately 1.0 percent year-to-date and are down roughly 0.10 percent in the past month.
Find out more about Dreamworks Animation including full access to the equity report at:
Glu Mobile Inc. (NASDAQ: GLUU) shares gained 4.86 percent to close at $3.02 a share Wednesday. The stock traded between $2.82 and $3.03 on volume of 2.24 million shares traded. The company is scheduled to release results for the first quarter ended March 31, 2016 after market close on Tuesday, May 3rd. Shares of Glu Mobile have gained approximately 24.0 percent year-to-date and are down roughly 7.0 percent in the past month.
Find out more about Glu Mobile including full access to the equity report at:
PDL BioPharma Inc. (NASDAQ: PDLI) shares gained 3.17 percent to close at $3.58 a share Wednesday. The stock traded between $3.46 and $3.60 on volume of 1.48 million shares traded. The company is scheduled to hold its annual meeting of stockholders on Thursday, June 2, 2016, at 10:00 a.m. Pacific Time for all stockholders of record on April 8, 2016. Shares of PDL BioPharma have gained approximately 1.0 percent year-to-date and are up roughly 10.0 percent in the past month.
Find out more about PDL BioPharma including full access to the equity report at:
Stock Theory strives to provide our members with the most up-to-date information about recent market activities. We take the hard work, time, and effort off your shoulders. We create and prove up-to-date Equity Reports and Newsletters offering unique and timely market perspectives for our members. We dive into the research while following a strict set of proven principles to uncover companies with high growth potential. For more information visit www.StockTheory.com