Midday movers: Merck, Intel
Stocks are mixed as the Dow and S&P 500 have gained, but the tech-heavy Nasdaq is lagging.
A number of pharmaceutical stocks reacted to presentations made at the American Society of Clinical Oncology meeting, most notably Dow component Merck (MRK), which led all blue-chips with a 5% advance after saying data on its lambrolizumab warrant an expansion of the clinical development program for the cancer drug.
A smaller pharmaceutical company making a major move following its presentations at the ASCO meeting was Clovis Oncology (CLVS), which surged 127% higher.
Among the notable gainers was Intel (INTC), which climbed 4% after Barron's published a favorable article about the company, research firm FBR Capital upgraded its rating on the stock
and Samsung (SSNLF) confirmed it would use Intel chips for its upcoming Galaxy 3 tablets.
Also higher were shares of Bristol-Myers (BMY), which rose nearly 6% after the company's presentation of data at ASCO prompted Goldman to increase its price target on shares to $55 from $48.
Copyright © 2014 Microsoft. All rights reserved.
Stocks are facing some serious resistance as the bears tear into the market's respite.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.