Diamonds and Dogs
Regeneron Pharma (REGN) jumps on positive drug trial news. Regeneron is up 14% as their anti-blindness treatment Eylea, was shown to work as well when given at a higher dose at a longer interval between injections. Eylea, which is normally given at 2 milligrams every eight weeks, was shown in two late-stage trials to be as effective when given at 8 mg at longer intervals, without any additional safety issues.
American Eagle (AEO) lower following earnings. The once popular teen retailer is down 10% after missing second quarter estimates. The company blames slowdown on consumer spending and bloated inventory. The company is stepping up cost-cutting and pausing its dividend to give the firm more financial flexibility.
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