Insmed, Inc. (NASDAQ:INSM) is trading 1% higher in late trading after a 30.8% plunge during regular market hours. Shares took a nasty fall after the US Food and Drug Administration kept in place a halt on clinical trials for the company’s inhalable antibiotic. The decision was based on preliminary results from tests on rats.
Alcoa (NYSE:AA) is edging higher in late trading as the Dow (NYSE:DIA) component prepares to kick off earnings season tomorrow. The average estimate of analysts is for net income of 23 cents per share, a rise of more than twofold from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 33 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 30 cents during the last month. Analysts are projecting profit to rise by 100% versus last year to $1.10. The company competes with Aluminum Corporation (NYSE:ACH).
Don’t Miss: Alcoa, Inc. Third Quarter Earnings Sneak Peek.
Shares of Freeport McMoRan Copper & Gold (NYSE:FCX) continue to add to gains in late trading. Although the company still faces a union strike in its Peruvian mine, a rebound in copper (NYSE:JJC) prices is helping to boost shares. The company competes with Newmont Mining (NYSE:NEM) and Southern Copper (NYSE:SCCO).
Investing Insights: The Eurozone Lights a Fire Under Gold and Silver.