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Stocks Hold Out Against Late Biotech Sell-Off as Wall Street Nudges Higher

Michael Teague is a staff writer for Equities.com. His previous experience includes three years as the associate editor of Los Angeles-based Al Jadid Magazine, a bi-annual review of the arts & culture of the Middle East, where he contributed many articles on the region in the form of features and book & film reviews. His educational background includes a BA in French literature from the University of California, Irvine, where he developed a startling proclivity for anything having to do with the 19th century.
Michael Teague is a staff writer for Equities.com. His previous experience includes three years as the associate editor of Los Angeles-based Al Jadid Magazine, a bi-annual review of the arts & culture of the Middle East, where he contributed many articles on the region in the form of features and book & film reviews. His educational background includes a BA in French literature from the University of California, Irvine, where he developed a startling proclivity for anything having to do with the 19th century.
Shares for biotech firms fell late in Friday’s trading session, throwing a damper on the strong buying that had characterized the day’s activity prior to 2pm. Stocks held on to stay in

Shares for biotech firms fell late in Friday’s trading session, throwing a damper on the strong buying that had characterized the day’s activity prior to 2pm. Stocks held on to stay in the positive by the time of the closing bell, however, as earlier comments made by Chinese government officials, who indicated their readiness to intervene in order to stimulate an increasingly anemic economy provided momentum enough spare stocks from a more severe collapse.

Results for Friday, March 28

?     Standard & Poor’s 500: +046 percent to 1,857.61 points

?     Dow Jones Industrial Average: +0.36 percent to 16,323.06 points

?     NASDAQ: +0.11 percent to 4,155.76 points

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Stocks

?     Shares for oil giant ExxonMobil (XOM) were trading up on volume for the second session after Thursday’s upgrade-driven gains. The company’s 2014 is a truly impressive one in terms of the number and distribution of the projects it will be working on

?     Canadian Solar (CSIQ) was leading the industry higher throughout Friday’s session after a week that had been characterized by widespread losses.

?     A pair of analyst upgrades sent online-banking stock BofI Holding (BOFI) up on double digit gains.

?     Coal companies had a rough day, prompting Meng Meng to muse on the continually worsening outlook for the industry.

?     Idera Pharmaceuticals (IDRA) got a nice reprieve from a week of losses when top-line data from a clinical study for its lead therapy came back positive.

?     Renewed buyout rumors involving major drug manufacturer Jazz Pharmaceuticals (JAZZ) sent small-cap pharmaceutical firm Ariad Pharmaceuticals (ARIA) higher again by Friday’s closing bell.