Diamonds and Dogs
Biogen (BIIB) soars 25% on positive clinical trials for their Alzheimer drug. Biogen's stock dropped 29% back in March on a smaller clinical trail that didn't show positive results for the same drug. However, the new analysis of a larger data set showed that aducanumab actually did work, reducing clinical decline in patients with early-stage Alzheimer's disease. Biogen will now submit their Alzheimer's drug for FDA approval as early as next year. If approved, it would be the first drug approved to reduce the clinical decline of Alzheimer's disease. Biogen also released better than expected earnings results.
McDonald's (MCD) taking a hit. The fast-food giant is down 3% to a five-month low on downbeat third-quarter earnings. McDonald's actually missed on earnings and sales. Global sales did beat expectations, but softness in the U.S. market could spark worries that the sector is becoming more competitive. On the plus side, McDonald's did hike their dividend 7.7% boosting the dividend yield to 2.4%.