Apple (AAPL) may be trading near three-month lows, but the consumer tech giant rose on Friday to end a five-session losing streak. Shares have been trending lower for about a month over concerns about sales of the Apple Watch, its new music streaming service and China, a big market for the company. But Apple climbed 3% in quick turnover in the stock market today, bouncing back from a sequence of five straight down days. On Thursday, the stock
Big-cap biotech Biogen (BIIB) was down 3% in afternoon trading Friday as its R&D head departed, and Cowen issued a cautious note about upcoming Alzheimer’s disease data. Biogen said Douglas Williams is leaving at the end of July to head a biotech startup “with potential in cancer diagnostics and therapy.” Chief Medical Officer Alfred Sandrock and Chief Scientific Officer Spyros Artavanis-Tsakonas will take over his duties. Williams joined Biogen
Netflix (NFLX) got a boost Friday from a report by Nomura Securities, which raised its forecast for international subscribers and its price target on Netflix stock. Netflix was up 1.7% to above 681 in afternoon trading on the stock market today. Nomura analyst Anthony DiClemente reiterated his buy rating on Netflix stock and raised his price target to 750 from 600. He says the Internet TV leader can grow to 94 million international subscribers by 2020, up from its prior target of 80 million. DiClemente anticipates that Netflix will grab 13% of broadband Internet households. “We believe a growing mix of global content license agreements will result in much higher longer-term operating margins vs. Street estimates,” DiClemente said in a research report Thursday. “Long-term international margin expansion remains the most significant source of upside to Netflix shares.” By 2020, Netflix could have 152 million subscribers, including 58 million in the…