Mixed close as biotechs extend losses

It was a mixed close for the markets as upbeat earnings lifted the Dow with the blue chip index surging 113 points to 16,314. Nasdaq plummeted 47 points to 4,686 as biotech stocks continued to drop.

On the upside

Prima BioMed (Nasdaq: PBMD) chief executive officer Marc Voigt will present at the LEERINK Partners 4th Annual Rare Disease Roundtable.

Shares of EDAP (Nasdaq: EDAP) extended its gains.

Marvell Technology (Nasdaq: MRVL) will restructure its mobile platform business.

On the downside

The Food and Drug Administration requested that Fibrocell Science (Nasdaq: FCSC) conduct a toxicology-specific study for FCX-007.

AbbVie (NYSE: ABBV) will not license Galapagos’ (Nasdaq: GLPG) JAK1 inhibitor.

Second quarter earnings and revenue for BlackBerry (Nasdaq: BBRY) fell short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 eased a fraction to 1,931. Bitcoin edged up to $233.

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