Latest Reports on Egalet and Illumina as the NASDAQ Continues to Hit Record Highs

NEW YORK, NY / ACCESSWIRE / January 11, 2017 / The Nasdaq Composite Index has gained 2.76 percent over the first five trading session of the year, its best five day period to begin the year in a decade when the Nasdaq gained 5.14 percent over the first five days in 2006, according to a Dow Jones markets data group. A major reason for the Index’s rise in 2017 has been the year-to-date performance of the FANG stocks – Facebook (+8.08 percent), Amazon (+6.12 percent), Netflix (+4.9 percent) and Google/Alphabet Inc. (+4.23 percent).

On Tuesday, the Nasdaq Composite Index touched a new intraday record of 5,564.25, before settling to close at 5,551.82, up 3.13 percent year-to-date. The Nasdaq Composite Index has closed the year with a gain 22 out of the 30 times the Index rose in the first 5 trading sessions to begin a new year, according to a Dow Jones markets data group.

RDInvesting Takes
a Closer Look at the NASDAQ’s Top Movers

Egalet Corp. (NASDAQ: EGLT)

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Here

Egalet’s shares dropped 22.20 percent to close at $6.52 a share Tuesday. The stock traded between $6.13 and $7.36 on volume of 5.02 million shares traded. On January 9th, the company announced that the U.S. Food and Drug Administration (FDA) has approved ARYMO ER (morphine sulfate) extended-release tablets C-II for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate. Shares of the company fell sharply after a morning conference call disclosed only one of three label claims were approved by the FDA.

Illumina, Inc. (NASDAQ: ILMN)

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Report Here

Illumina’s shares spiked 16.60 percent to close at $165.04 a share Tuesday. The stock traded between $161.31 and $167.10 on volume of 6.03 million shares traded. On January 9th, the company released four encouraging news releases. In one of the releases, Illumina announced a collaboration with IBM Watson Health (IBM) to expand access to genome data interpretation by integrating Watson for Genomics into Illumina’s BaseSpace Sequence Hub and tumor sequencing process.

“To enable precision cancer medicine on a large scale, we need new tools to overcome the data barriers of genomic research,” said Francis deSouza, President and CEO of Illumina. “With a comprehensive assay of Illumina and the power of Watson, we hope to deliver a rapid turnaround of the genomic alteration results.”

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, a CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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