Trading the Trend: Regeneron, Alexion, TripAdvisor, Expedia All Pushing Higher
With around 3 hours left in Monday's trading day, the major averages are mixed, with the Dow and S&P falling marginally and the Nasdaq up slightly. The choppiness in the broader market can make it difficult to find solid opportunities in individual stocks. This is particularly true with correlations across the market being as high as they have been. A number of momentum names are trending higher on Monday, however, and traders may be able to find low risk areas to try to ride out these intra-day trends into the close.
At last check, REGN shares had jumped more than 4% and were trading at $119.30. The reaction in the stock could be related to increased risk appetite in the biotech space after Amylin Pharmaceuticals (NASDAQ: AMLN) was acquired by Bristol-Myers Squibb (NYSE: BMY) for $5.3 billion. The deal may also be helping shares of Alexion Pharmaceuticals (NASDAQ: ALXN) which have climbed almost 4% during the day. The stock continues to trend upward, despite recent market volatility, and is sitting near new 52-week highs. I
n the travel space, TripAdvisor (NASDAQ: TRIP), and its one time parent company, Expedia (NASDAQ: EXPE), might be offering up opportunities. TRIP shares have climbed 4% on the day and EXPE is up a little less than 3% and trending higher on an intra-day basis.
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