It was another stellar day for the U.S. stock market as two major markets reached all-time highs. The S&P 500 improves on its record-finish set yesterday by surging 0.7% Tuesday, while the Dow Jones Industrial Average also hit its all-time high, rising 0.7% on the day.
Here’s what’s happening with these stocks:
Nintendo Co., Ltd (ADR) (NTDOY)
NTDOY shares are starting to level off a couple of days after the wildly successful Pokémon Go caused a 33% pop in the stock.
The augmented-reality game that allows users to explore the real world while catching Pokémon digitally on their mobile devices has exploded in popularity, exceeding Twitter in daily active users and Tinder among downloads, at least as far as Android users are concerned.
Still a few hiccups have developed along the way.
There also was the issue of the app allowing the app’s maker, Niantic Inc., full access to Google accounts — which the company has fixed with an update, but could make users a bit more wary. And there’s also the issue of people using the app in a few inappropriate places, such as the Holocaust Museum and Arlington Cemetery, which have had to ask users to find Pokémon elsewhere.
NTDOY currently is set for another flat day of trading.
Juno Therapeutics Inc (JUNO)
JUNO stock was set to open Wednesday’s trading up big after the company received the FDA’s go-ahead to resume a cancer drug trial.
A Phase II clinical trial of Juno’s JCAR015 drug to treat relapsed or refractory B cell acute lymphoblastic leukemia was put on hold on July 7 following three deaths. The patients had a negative interaction between the chemotherapy drug fludarabine and re-engineered white blood cells (CAR-T cells).
However, the FDA has allowed the trial to resume under a revised protocol in which JCAR015 will only use cyclophosphamide pre-conditioning and exclude fludarabine.
JUNO shares were up 25% on the news. Also, Kite Pharma Inc (NASDAQ:KITE) — which has a similar CAR-T treatment in testing — was enjoying an 8% bump.
Michaels Companies Inc (MIK)
Michaels Companies’ stock is set to fall this morning on an announced sceondary stock offering and disappointing second-quarter guidance.
Shareholders of the arts and crafts specialty retailer will sell 11 million shares, of which the company itself will acquire 1 million. The offering will be underwritten by Morgan Stanley (NYSE:MS).
The company now expects second-quarter results to fall in the “lower-to-middle range” of earnings guidance for 16 to 18 cents per share, which the company released in June.
MIK shares are off more than 4% in Wednesday morning trading.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.