Diamonds and Dogs
6/16/14Bluebird Bio, Inc. (BLUE)
Bluebird Bio starts the week off with strong results from its gene therapy treatment, called LentiGlobin. The process was successful in replacing non-functional genes with functional ones. Two patients that were suffering from an inherent blood disease were able to stop relying on blood transfusions and were producing functional hemoglobin after a single session with LentiGlobin. Bluebird Bio was up 53% pre-market, but was at about a 35% gain at $35 around 1 p.m. The stock rocketed to a new 52-week high of $41.77 and was at a volume of almost 4.5 million by one o'clock. This is a strong start to the week for a biotechnology company that could have a bright future.
DreamWorks Animation (DWA)
Following the release of the sequel How to Train Your Dragon 2, DreamWorks Animation saw a drop in its stock price Monday morning. By early afternoon, DWA was down 12% to about $24. This resulted from a weak first weekend for the new dragon-filled movie, and a failure to compensate for low revenues from past productions, such as Mr. Peabody and Sherman. Bullish investors were disappointed when the movie resulted in only $50 million in box-office revenue compared to an optimistic $60 million estimate. With revenues continuing to drop lower and lower, DreamWorks' outlook over the next few quarters is bearish.