Seattle Genetics (NASDAQ:SGEN) getting dumped by investors big-time this morning, down -8.76% despite news that the FDA backed approval of its Hodgkins Lymphoma Treatment, although because the administration ordered more tests, it is unclear if the company will get approval by an Aug. 30th deadline. Canaccord wealth management analysts reiterated their “sell” rating on the company following release of the news.
Logitech International (NASDAQ:LOGI) down again today, shedding -1.29% in trades so far. Investors continue their trend of dumping the stock as it’s cascading towards new 52 week lows.
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Mattel Inc. (NASDAQ:MAT) is up 4.03% this morning on news that the company’s second quarter earningswere strong, rising 56% thanks largely to top selling “Cars 2” merchandise. Mattel reported a profit of $80.5 million, or 23 cents a share, up from $51.6 million, or 14 cents, a year earlier. Sales jumped 14% to $1.16 billion. Analysts polled by Thomson Reuters had most recently forecast earnings of 16 cents on revenue of $1.11 billion. Check Out: Mattel, Inc. Earnings Cheat Sheet: Higher-Than-Expected Net Income.