Thursday, April 2, 2009

Accounting Changes Send Market, Stem Cells Up

Thursday 4/02/09: Dow +216 (2.8%) @7978, S&P +23 (2.8%) @834, Nasdaq +51 (3.3%) @1603

The FASB changed the marke-to-market rules for financial institutions, as expected, relaxing their requirements on assets held. The entire market was up as a result, about 3% overall. Stem cell stocks did join today, reversing yesterday, with 21 up and 10 down.

Big Winners: AFFX +8.3%, CRA 10%, CELG 6%, DNDN 4.8%, OPXA 10.8%.

Biggest Drops: ASTM -7.3%, ATHX -7.4%, EPIX -11.5%. (up one day, down the next for some of these).

Volume Up: ABT, AMGN, CELG (2x), GHDX (3x), OSIP (2x, -3%).

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