Health Services Sector Buoys Market All Week Longlast week's bullish rally, and all three major indexes are down. The Dow opened on Monday at 18,027.63 and closed on Friday at 17,946.68 for a loss of 80.95 points. The NASDAQ and S&P 500 were also down on the week, with the NASDAQ dropping 67.36 points and the S&P shedding just over 11.
FitBit (FIT) Goes PublicPopular wearable technology manufacturer FitBit (FIT) went public this week.
The Week's 5 Hottest Penny StocksThis week saw a lot of turmoil in the market, which can be good news for penny investors. Even when the blue chips are losing money, there's a penny stock in some segment of the market that is cleaning up. This week's hottest penny stock was Cleveland Biolabs (CBLI), from the biotech segment of the health services sector. This biotech firm posted 5-day gains of just over 100%, shooting from $2.50 to over $6 in the Thursday premarket. It closed the week at $5.31 per share.
Parametric Sound Corp (HEAR) posted gains of more than 30% on the week, closing at $2.47. This stock still has room to grow, it's down from highs of over $3. Penn Virginia Corp (PVA) nearly matched Parametric, posting 29% gains over 5 days. It closed the week at $5.18 per share. Royal Bancshares of Pennsylvania (RBPAA) and Internet Patents Corp (PTNT) each managed to add over 20% in value on the week.
Synaptics (SYNA) Drops the BallTouch-enabled surface manufacturer Synaptics (SYNA) absolutely bombed this week, dropping nearly 13% after what had been an impressing 6-month rally. The company added 17% in May, and had been surging as it found new applications for its technology in the mobile device and tablet market. Things turned around this week after a series of stock sales that left the company's share price in free fall.
Coca-Cola (COKE) Wins the Week with an 8.5% TurnaroundBeverage giant Coca-Cola (COKE) has been having a tough few months, but the promise of summer sales was enough to turn things around -- at least for this week. Coke posted 8.5% gains on the week, and saw share prices edge up near $150. Whether or not this is the beginnings of a turnaround or just a bump in stock prices as people buy more soft drinks has yet to be seen, but for now Coca-Cola is a winner.
The Health Services Sector Comes Out Ahead AgainThis week's Supreme Court ruling in favor of the Affordable Care Act has had stock prices soaring in the Health Services sector. The sector has lead day-over-day all week, and played a big part in keeping markets from falling even further. The ruling will keep the flow of Federal dollars open to healthcare providers, as it found that state exchanges can continue to be backed by the Federal government as the bill initially laid out.
The subsidization of health care in a contentious political issue, but insurance companies want the Federal dollars to keep flowing. They've seen a huge boost in enrollments which have driven record profits and helped them to turn around in an economy that was otherwise stacked against them.
Published on Jun 27, 2015By Aaron Phillips