Stocks Close Higher As Verizon Rallies On NFL Deal | Stock News & Stock Market Analysis

The major indexes closed with gains Monday, as Dow components United Technologies (UTX) and Verizon (VZ) climbed past buy points.

X United Technologies edged above the 123.38 buy point of a cup-with-handle base, while Verizon climbed back above the 51.28 buy point of a flat base.

Verizon extended a streaming agreement with the NFL that expands broadcast of more games and now includes the Super Bowl. Verizon will continue home-market streaming of NFL games. Verizon’s  Yahoo Sports and AOL will also stream games.

The Dow Jones industrial average rose 0.2% while the S&P 500 added 0.3% and the Nasdaq composite led with 0.5% increase. But small caps did not participate, with the Russell 2000 off 0.2% at the closing bell.

Volume fell from Friday’s totals, according to early figures. Winners led losers by 6-to-5 on the NYSE but losers outscored advancers on the Nasdaq by 9-to-7.

As financials rotate into the market leadership, more are breaking out. On Monday, UBS Group (UBS) broke out of an odd cup with handle with a 17.65 buy point.

The solar energy industry group rose 1% Monday after a Baird analyst said the market has hit an inflection point that will continue to see long-term growth. The analyst raised First Solar (FSLR) to outperform from neutral and his price target to 82 from 69, adding that First Solar is his top pick in the sector. First Solar shares closed flat. They are extended from a pullback to the 50-day moving average.

Some biotechs rallied on positive trial results. But others along with some other stocks in health care accounted for many of Monday’s losers in unusually heavy volume.

Spark Therapeutics (ONCE) plummeted more than 30% in huge volume after results from a hemophilia treatment appear to be less effective than a rival product from BioMarin Pharmaceutical (BMRN), reports said. BioMarin shares shot up more than 7% in big volume.

Juno Therapeutics (JUNO) and Intellia Therapeutics (NTLA) also sold off following disappointing drug-trial data.


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Originally posted 2017-12-11 23:10:44.


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