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

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

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!