Market News: Auxilium Pharmaceuticals, Advanced Micro Devices

Market News: Auxilium Pharmaceuticals, Advanced Micro Devices
market news

The stock markets in the United States declined significantly today on investors’ concern that the weakness in Europe will negatively affect the American economy.

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Market observers noticed that volatility is returning to stocks after experiencing the longest stretch of calmness in two decades. In a telephone interview with Bloomberg, Drew Wilson, an investment analyst with Fenimore Asset Management said “We’ve seen the reintroduction of the risk-on, risk-off propensity of the market and that high level of volatility is here to stay for awhile.”

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On the other hand,Timothy Ghriskey, chief investment officer at Solaris Asset Management LLC said, “The fear is that global interest rates are so low that there’s risk of deflation, and the economic recovery, which has shown some steady progress, is now deteriorating.  He added, “The news out of Europe is nothing new, but it’s come to front and center now with Draghi’s new comments.”

Today, European Central Bank (ECB) President Mario Draghi said there are signs of slowdown in the economic growth in the euro area. According to him, the inflation level in the region is excessively low and policy makers need to boost it.


“We are accountable to the European people for delivering price stability, which today means lifting inflation from its excessively low level. And we will do exactly that,” said Draghi.

A separate report from four economic institutes indicated that Germany is on the brink of recession.

Some Federal Reserve officials stated the slowing of the economy and low inflation level in the European region could strengthen the dollar further, which could harm certain portions of the U.S. economy.

U.S. Markets

  • Dow Jones Industrial Average (DJIA)- 16,659.25 (-2.02%)
  • S&P 500- 1,928.21 (-2.07%)
  • NASDAQ- 4,378.34 (-2.02%)
  • Russell 2000- 1,068.41 (-2.50%)

European Markets

  • EURO STOXX 50 Price EUR- 3,042.45 (-0.36%)
  • FTSE 100 Index- 6,431.85 (-0.78%)
  • Deutsche Borse AG German Stock Index DAX- 9,005.02 (+0.11%)

Asia-Pacific Markets

  • Nikkei 225- 15,478.93 (-0.75%)
  • Hong Kong Hang Seng Index- 25,534.53 (+1.17%)
  • Shanghai Shenzhen CSI 300 Index- 2,481.96 (+0.14%)

Stocks in Focus

The stock price of Auxilium Pharmaceuticals, Inc. (NASDAQ:AUXL) climbed 9% to $32.44 after signing a definitive agreement to sell itself to Endo International plc (NASDAW:ENDP) (TSE:ENL) for $33.25 per share or $2.6 billion in cash and stock deal.

The shares of Advanced Micro Devices, Inc. (NYSE:AMD) declined 10% to $2.95 per share after the company announced that its CEO Rory Read stepped down from his position, and appointed Dr. Lisa Lu to take over his role.

Lakeland Industries, Inc. (NASDAQ:LAKE), the maker of hazmat suits used by health workers treating patients with Ebola virus gained more than 52% to $17.72 per share today.  The stock gained more than 85% in one month. The company is benefiting from speculations that the orders for its hazmat suits will increase due to Ebola scare.


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Marie received her Bachelors Degree in Mass Communication from New Era University. She is a former news writer and program producer for Nation Broadcasting Corporation (NBC-DZAR 1026), a nationwide AM radio station. She was also involved in events management. Marie was also a former Young Ambassador of Goodwill during the 26th Ship for Southeast Asian Youth Program (SSEAYP). She loves to read, travel and take photographs. She considers gardening a therapy.
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