Stocks tumble to end a volatile week
Stocks tumble to end a volatile week as the Trump Trade is no longer synonymous with stocks going up. Plus – Amazon still in Trump’s crosshairs, and now Mnuchin’s piling on. We break it down. And – Zuck heads to Capitol Hill as Sheryl Sandberg says more breaches are coming. When will it get better for Facebook? Plus – Dunkin’s new donut treat is coming, but for only one market.
Winners and losers
Stocks in the red Include Incyte, as the drugmaker’s experimental melanoma treatment, made in conjunction with Merck, did not meet its phase 3 primary endpoint; WD-40, which beat on earnings, but missed on revenue as well as sales growth; and Square, with shares dropping after a Wall Street Journal report said that Amazon is interested in using its Alexa voice assistant to process peer-to-peer payments.
Stocks in the green include PriceSmart as the warehouse club operator reported second quarter earnings and revenues that topped estimate; CRISPR Therapeutics as Goldman Sachs initiates coverage with a ‘buy’ rating for the company that develops gene-based medicine for patients; and Gain Capital Holdings, with shares higher as the holding company for FOREX.com and City Index services announced the continued rollout of its cryptocurrency offerings.
