🔥 Biggest Ripper: Amgen is taking out the cancer biotech company Five Prime Therapeutics for nearly $2 billion and giving them a strong late-stage therapy for gastric cancer. On the news, $FPRX jumped 78%, far outperforming the broader market this week. $AMGN ended the trading week up 0.8%, managing to escape the wrath on markets this week.

🗓️ Last Week: After printing trillions of dollars last year, renewed fears about inflation and a poor recovery have finally put the party on hold. Jerome Powell of the Federal Reserve and Janet Yellen of the Treasury, the government’s leading officials on all things money, both insist that concerns about inflation and the economic recovery are overrated. However, investors don’t believe them. Stocks fell into the red for the year as investors bandwagon onto this week’s risk off. 

📈 Coming Up: Markets have dragged their feet during the last few weeks of trading. The real question this week is whether or not markets have been oversold. Indexes such as the S&P 500 and the tech-heavy NASDAQ 100 traded up last year, despite stagnation in the rest of the broader economy. It’s leading some people to wonder if we are due for a reversal, or at least a year of low returns. The last negative year on markets was 2018. We’ll be looking to the start of a new earnings season to see how investors are feeling about the weeks ahead.

Author Profile Picture

Noah Weidner

Noah Weidner is a restless self-starter with a vehement interest in all things that make the world go around: culture, politics, economics and all the people in between. He writes the Bullish Rippers series and covers other interesting trends and happenings at Bullish.

What Did You Think?

Join The Discussion

Be the first to Comment!


Leave your comment:

Stocks Mentioned

Five Prime Therapeutics logo

Five Prime Therapeutics, Inc., a clinical-stage biotechnology company, focuses on the discovery and development of innovative protein therapeutics.The company's product candidates comprise Bemarituzumab, an antibody that inhibits fibroblast growth factor receptor 2b, or FGFR2b, which is in Phase 3 clinical trials to treat patients with gastric or gastroesophageal junction and GEJ cancer; and FPA150, a CD8 T cell checkpoint inhibitor antibody that is in Phase 1a/1b clinical trial that targets B7-H4 in various cancers, as well as FPT155, a soluble CD80 fusion protein, which is in Phase 1a/1b clinical trial that enhances co-stimulation of T cells through CD28.Its product candidates also include Cabiralizumab, an antibody that inhibits colony stimulating factor-1 receptor that is in Phase Ia/Ib clinical trials for the treatment of various cancers in combination with Opdivo.The company's BMS-986258, an anti-T cell immunoglobulin and mucin domain-3 antibody, which is in Phase 1/2 clinical trial as a single agent and in combination with Opdivo in patients with advanced malignant tumors.It has license and collaboration agreements with Bristol-Myers Squibb Company, GlaxoSmithKline LLC, INBRX 110 LP, UCB Pharma S.A., and Zai Lab (Shanghai) Company; and license agreements with Galaxy Biotech, LLC, BioWa, Inc. and Lonza Sales AG.The company was founded in 2001 and is headquartered in South San Francisco, California. (From: StockAnalysis.com)