The stock market is mixed Wednesday, with the Dow Jones Industrial Average up 0.06%, the Nasdaq down 0.03% and the S&P 500 up 0.11%. Today’s winners are two pharmaceutical companies, one getting bought out and one with its stock continuing a rally on news of approval for a product sale in Europe. Today’s sole loser is an energy company which announced a sale of convertible senior notes.
These are Wednesday’s market winners and losers.
Biggest Winners
Shares of YM BioSciences Inc. (NYSE MKT: YMI) are up 78.53% to $2.91 on trading volume of 54.2 million shares. Gilead Sciences Inc. (NASDAQ: GILD) will buy the Canadian company for $510 million in cash. Before Wednesday, the 52-week high was $2.46.
Shares of BG Medicine, Inc. (NASDAQ: BGMD) are up 12.72% to $3.81 on trading volume of 5.4 million shares. The company’s stock continues to rally after the announcement before Tuesday’s market open that it obtained a CE Mark allowing for the commercial sale of a blood test to predict major cardiovascular issues. The 52-week high is $12.80.
Biggest Loser
Shares of Cobalt International Energy, Inc. (NYSE: CIE) are down 9.04% to $24.97 on trading volume of 10.5 million shares. The company announced it will sell 1.2 billion in convertible senior notes that will be due in 2019. The 52-week low is $8.77.
Samuel Weigley
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