3 Stocks to Watch on Friday: CytRx Corporation (CYTR), Juno Therapeutics Inc (JUNO) and Line Corp (ADR) (LN)

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The stock market continued its rally as the Bank of England surprised investors by opting to not raise its lending rate. The S&P 500 improved by 0.5% Thursday, while the Dow Jones Industrial Average grew 0.7%.

3 Stocks to Watch on Friday: CytRx Corporation (CYTR), Juno Therapeutics Inc (JUNO) and Line Corp. ADR (LN)As the week comes to an end, investors should keep an eye on the following stocks: CytRX Corporation (NASDAQ:CYTR), Juno Therapeutics Inc (NASDAQ:JUNO) and Line Corp (ADR) (NYSE:LN).

Here’s what you need to know:

CytRX Corporation (CYTR)

CytRX shares plummeted as the company announced a public offering of its common stock.

The biopharmaceutical company revealed late Thursday that, in addition to the offering, investors will get one-year warrants on the stock.

The stock will be sold for 70 cents a share.

CYTR shares fell 4.4% after the bell Thursday and continues to drop.

Juno Therapeutics Inc (JUNO)

Juno has made a splash in the biopharmaceutical industry with the acquisition of a startup.

The company has shelled out $10 million for Redox, which offers healthcare solutions, as well as the tools developers need to build health systems for hospitals and clinics.

The acquisition is particularly big for Juno as it now owns Redox’s vipadenant, an adenosine (A2a) receptor antagonist that can help combat some forms of cancer.

JUNO stock edged 0.2% higher after hours yesterday and continued higher this morning.

Line Corp. ADR (LN)

Line had an IPO to remember, as the messaging app’s stock opened at a price of $42 per share.

The company’s IPO was the biggest tech opening of the year, finishing the day at $41.58. Line — which first had plans to go public in 2014 — has a valuation of about $8 billion.

More than 218 million use the app on a regular basis — especially in East Asian countries (Line dominates Japan’s messaging market) and Indonesia.

LN shares surged 3.4% after the bell Thursday.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/07/3-stocks-to-watch-on-friday-cytrx-corporation-cytr-juno-therapeutics-inc-juno-and-line-corp-adr-ln/.

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