As I have been mentioning over the past few days, the biopharma group is getting a lot of news driven moves recently. Today it is Medarex (MEDX), which is up $7.46 (89%) on news that it will be taken over by Bristol-Meyers. Medarex developes products for cancer and auto-immune diseases.
Earnings were very good overall this morning. Ford beat earnings estimates by a large amount and is now trading at a 52 week high.
For us, we have a problem with the CME which beat estimates on profits, but missed on revenues. The stock is currently down $6.75 and was down more than that a few minutes ago.
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