Markets Cap Off a Losing Week Down 160
Amazon (AMZN) Has its Day in the SunAfter releasing a strong earnings report today, shares of Amazon (AMZN) skyrocketed.
Regardless of the fading consumer economy, everyone has apparently decided to do their online shopping at Amazon. The company consistently dominates in its niche, and has for almost 20 years at this point. They've built an online store into a powerhouse brand, in stark contrast to competitors like eBay (EBAY).
Amazon is capitalizing on its brand by expanding into other areas online, and they're using their Prime program as a wedge to do it. Their Amazon Prime program keeps growing, and bringing in new customers with it. Prime has grown from a way to get reduced shipping prices into a full-fledged video streaming service, grocery delivery, and loss-leader for premium price sales. And Amazon's customers are loving it -- as evidenced by their performance today.
What Happened to Biogen (BIIB)?For well over a year now, Biogen (BIIB) has been seen as the big name in biotech. In fact, most reports about the Health Services sector as a whole have at least touched on Biogen's performance in the biotech segment.
Today, Biogen imploded on poor earnings. They also revised their guidance going forward. And the shareholders left in droves. It's too soon to tell whether this is a legitimate reaction, with investors walking away from the biotech behemoth, or just a reaction to a selloff. Biogen lost 85.02 points, or just over 22%, to close the day at $300.03 per share.
Published on Jul 24, 2015By Aaron Phillips