Market Focus

Amgen 

Amgen’s earnings beat and hiked its outlook. The drug company had a strong quarter thanks to high demand for its white blood cell drug and increased sales of its newer treatments. Following the report the company raised its full-year forecast. Shares were volatile in after-hours trading. During regular trading the stock was up slightly to $148.20. 

Allergan 

Valeant Pharmaceuticals says its prepared to sweeten its offer for the Botox maker Allergan to at least $200 a share. As you may recall, Allergan has repeatedly brushed off the buyout attempts by Valeant and its takeover partner Bill Ackman. This new bid came as Allergan posted results today that topped analyst estimates. Still, shares were off $1.99 to $182.33. 

Novavax 

Shares of Novavax surged today on news its trials for its Ebola vaccine are advancing. The drug developer is already doing a non-human study of the drug and the CEO says testing will progress rapidly. The stock popped 13 percent to $5.80. 

Sarepta 

A setback for Sarepta. The Food and Drug Administration is asking for additional data on the biotech company’s application for its new muscular dystrophy drug. This means the filing for the treatment will not be delayed into mid-2015. Shares tumbled 32 percent to $15.91. 

Citizens Financial Group 

Strong quarterly earnings from Citizens Financial, profits rose 30 percent from last year. It also declared a 10 cent quarterly dividend that it will pay to shareholders in November. Despite all that, shares were down 1.5 percent to $22.85.

Micron Technology 

Micron Technology’s board authorized a $1 billion share buyback program sending its shares higher. This is the chip maker’s first share repurchase plan in three years. Micron rose four percent to 32.30.

Amazon & Rooftop Media 

Amazon is buying Rooftop Media, the online comedy services company as it looks to build its digital media library. Rooftop places comedian’s performances online and distributes the content. Shares of Amazon rose one percent to $289.97, recovering a big from last week’s selloff.

Kohl’s

Shares of Kohl’s plunged initially in afterhours trading after the retailer issued a warning. The company said it sees earnings for the year hitting the low end of its previous guidance. The retailer is blaming weak sales so far in the month of October. That sent the stock initially lower the close of trading finishing the regular session with a slightly drop at $58.55.

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