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Stock Market Roundup, Jan. 12: AMZN Jobs, FCAU Cheating, AKS & X Tank
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As investors continued to worry about President-elect Trump’s targeting of the pharma industry, new concerns about U.S. industrial stocks help drag the markets down in morning trading Thursday. Nevertheless, stocks bounced back thanks to overall bullish optimism, and the markets ended on a strong afternoon run that saw indexes down just marginally on the day.
Also, investors reacted to the EPA’s probe into Fiat Chrysler, sending the stock tanking. The regulator’s violation notice comes just a day after Volkswagen resolved its own major emissions cheating scandal.
On Thursday, leading drug store chain CVS Health Corp. (CVS - Free Report) announced that it is now selling a cheaper alternative to Mylan’s EpiPen, the best-selling but high-cost treatment for life-threatening allergies. Dubbed Adrenaclick, the authorized generic treatment is made my Impax Laboratories Inc. , and is priced at $109.99 for a two-pack.
Shares of Fiat Chrysler dropped more than 11.5% in morning trading Thursday after the U.S. Environmental Protection Agency (EPA) issued the company a notice of violation related to its use of software to manipulate emissions tests. According to the EPA’s statement, Fiat Chrysler used software to manipulate emissions in vehicles that would have otherwise violated the Clean Air Act.
Shares of two prominent steel producers, AK Steel and United States Steel (X - Free Report) , plummeted on Thursday after a key analyst downgrade. AK Steel was down more than 10.4% in early afternoon trading, while US Steel dropped more than 6.3%.
Shares of Amazon (AMZN - Free Report) gained as much as 1% in early morning trading Thursday after the company announced plans to create 100,000 full-time jobs in the United States over the next 18 months. Amazon pledged that its new jobs plan includes all full-time, full-benefit jobs.
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Stock Market Roundup, Jan. 12: AMZN Jobs, FCAU Cheating, AKS & X Tank
As investors continued to worry about President-elect Trump’s targeting of the pharma industry, new concerns about U.S. industrial stocks help drag the markets down in morning trading Thursday. Nevertheless, stocks bounced back thanks to overall bullish optimism, and the markets ended on a strong afternoon run that saw indexes down just marginally on the day.
Also, investors reacted to the EPA’s probe into Fiat Chrysler, sending the stock tanking. The regulator’s violation notice comes just a day after Volkswagen resolved its own major emissions cheating scandal.
Zacks Rank #1 (Strong Buy) Top Movers
Value: YY Inc. (YY - Free Report) - +3.18%
Growth: Finisar Corporation - +4.05%
Momentum: Histogenics Corporation - +9.87%
VGM: YY
Major Indexes
DOW: 19,890.01 / -64.27 / -0.32%
NASDAQ: 5,544.38 / -19.27 / -0.35%
S&P 500: 2,270.72 / -4.60 / -0.20%
Top Headlines
CVS Debuts Cheap EpiPen Alternative
On Thursday, leading drug store chain CVS Health Corp. (CVS - Free Report) announced that it is now selling a cheaper alternative to Mylan’s EpiPen, the best-selling but high-cost treatment for life-threatening allergies. Dubbed Adrenaclick, the authorized generic treatment is made my Impax Laboratories Inc. , and is priced at $109.99 for a two-pack.
Fiat Chrysler Stock Plummets On Emissions Cheating Probe
Shares of Fiat Chrysler dropped more than 11.5% in morning trading Thursday after the U.S. Environmental Protection Agency (EPA) issued the company a notice of violation related to its use of software to manipulate emissions tests. According to the EPA’s statement, Fiat Chrysler used software to manipulate emissions in vehicles that would have otherwise violated the Clean Air Act.
Here's Why AK Steel And US Steel Tanked Today
Shares of two prominent steel producers, AK Steel and United States Steel (X - Free Report) , plummeted on Thursday after a key analyst downgrade. AK Steel was down more than 10.4% in early afternoon trading, while US Steel dropped more than 6.3%.
Amazon Pledges To Create 100,000 Full-Time U.S. Jobs By 2018
Shares of Amazon (AMZN - Free Report) gained as much as 1% in early morning trading Thursday after the company announced plans to create 100,000 full-time jobs in the United States over the next 18 months. Amazon pledged that its new jobs plan includes all full-time, full-benefit jobs.
Long-Term Buys You Won't See in the News
The stocks you see in today's headlines may not be in the news tomorrow or next week. If you're looking for profitable long-term investments, you may be interested to see what Zacks Research is recommending to our private members. These moves have double and triple-digit profit potential. Starting now, you can look inside our stocks under $10, home run and value stock portfolios, plus more. Want a peek at this exclusive information? Click here>>