Vertex Pharmaceuticals Incorporated (VRTX) & Micron Technology, Inc. (MU) Are Top Market Gainers on Tuesday

On Tuesday, the markets have kept moving higher, with the S&P 500 INDEX (INDEXCBOE:SPX) reaching a new 52-week high, of 1,968.17, currently trading 0.20% up at 1,966.37 points. The Dow Jones Industrial Average (INDEXDJX:.DJI) has also started the day in green, although currently it has inched down by 0.02% to 16,933.04, with analysts and investors expecting it soon to reach the 17,000 points mark. Among the stocks of the S&P 500 Index, the indisputable top gainer on Tuesday is Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), which jumped over 40% so far, to $93.40 per share.

Vertex Pharmaceuticals Incorporated

The main news that caused the boost of the Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)’s stock price is the announcement made by the company today about successful Phase 3 studies results of a Cystic Fibrosis drug. Two Phase 3 studies involving lumacaftor in combination with ivacaftor have showed improvements in the lung functioning in people over 12 years old suffering from Cystic Fibrosis. “All four 24-week combination treatment arms in the studies, known as TRAFFIC and TRANSPORT, met their primary endpoint,” the company said in a statement.

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) now intends to submit regulatory applications for approval in several countries, including the U.S. where it will file for a New Drug Application and in Europe during the fourth quarter of the year.

Among the shareholders of Vertex is D E Shaw, led by David E. Shaw, which during the first three months of the year increased its exposure to the company by 160% to 1.90 million shares. D E Shaw also owns 626,500 shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) under ‘Call’ options.

Another stock that gained ground on Tuesday is Micron Technology, Inc. (NASDAQ:MU), which climbed over 4.60% on the back of the solid financial results for the third quarter of its fiscal 2014. The company posted a 72% increase on the year in revenues, while Micron Technology, Inc. (NASDAQ:MU)’s EPS amounted to $0.68 per share on a GAAP basis, which is above the third quarter of the last year result of $0.61 per share. Micron Technology, Inc. (NASDAQ:MU) also posted $1.46 billion in cash flows from operations and reported investment in capital expenditures of $576 million for the third quarter.

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Top Reasons For Getting Fired

The 3 Best States to Start an LLC

10 Jobs That Allow You to Travel

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!