Market Focus


Two IPOs bucked up today’s sell-off and had super successful market debuts. First, GrubHub, the online food delivery company priced its shares above the expected range at $26 each. At its current price, the company is valued at nearly $3 billion. Shares surged 31 percent to $34.

IMS Health

IMS Health also popped in its trading debut. The health care company provides data and consulting services to drug makers and health care providers. It priced its shares at $20 a piece. The stock jumped 15 percent to $23.

Mylan & Meda AB

Shares of Mylan surged after the pharmaceutical company made a bid for Swedish drug maker Meda AB. The combination would have created a $24 billion generic drugs group, but Meda AB rejected the offer. Even after the failed bid, shares of Mylan were higher up 1.5 percent to $50.63.


Shares of Amgen tumbled after the company’s Melanoma drug failed to improve survivor rates in patients in a late-stage study. The treatment is able to shrink tumors, as the company previously reported, but its inability to improve survival rates worried investors. The stock fell four percent to $119.11

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