Negative Movers: Some Stocks Fall On Favorable News (SGEN, JHX, FLIR, IPGP, NGLPF)
The markets are trading flat on Friday after the Consumer Sentiment Index fell from 71.5 in June to 63.8 in July, this represents the largest one month decline since July 2010. In other economic news, the Consumer Price Index fell for the first time since June 2010 and industrial production increased by 0.2% in June. Some Indexes are seeing declines, even after companies announced favorable news.
Today’s Negative tickerspy Indexes
Geothermal Stocks (down 2.1% vs S&P 500): Shares of Nevada Geothermal Power (NGLPF) are leading the Index lower, even after the company was awarded a grant in the amount of $7.9 million by the U.S. Government.
Cancer Stocks (down 1.8% vs S&P 500): Seattle Genetics (SGEN) is leading the Index lower today. Last night the company announced it had received unanimous recommendations for accelerated approval of its Adcetris drug by the FDA.
Aerospace and Defense Stocks (down 1.4% vs S&P 500): Shares of FLIR Systems (FLIR) are falling today after Morgan Keegan downgraded the stock to market perform from outperform and lowered its price target to $29 from $38.
A full listing of all the Negative Indexes and related charts and metrics are available at tickerspy.com.
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