Biotech Stocks Trading Under Water Pose a Conundrum for Bargain-Hunters
The stock market's recent wipeout has pushed a quarter of biotechnology stocks to trade below their cash holdings. That's left bargain-hunters with a choice: Buy the dip or sit this one out.
In the wake of the selloff, roughly 25% of the 263-member Nasdaq Biotechnology Index have market values that were less than their most recently reported cash holdings after President Donald Trump made good on his promise of a trade war. That's up from about 19% at the end of February.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
8 minutes ago
- Yahoo
Army, Trump love a $40 million parade. But nothing is planned for Navy, Marines
WASHINGTON — The Army's latest estimate for its major parade to celebrate its 250th anniversary – which falls on President Donald Trump's birthday – totals $40 million, including the cost of repairing streets in Washington, DC expected to be gnawed by tank treads. Meanwhile, the Navy, which also celebrates its 250th anniversary in October, has no plans for a similar parade, according to a spokesperson. The Marine Corps, too, has its 250th in November, and does not appear to have a parade on tap either. That leads a Democratic senator and member of the Armed Services Committee to believe that the June 14 parade featuring tanks, helicopters, warplanes and troops in period costume is as much about feeding Trump's ego as it is celebrating the Army's heritage. 'It is Donald Trump who is the focus of his own attention, and the Army birthday just happened to be a convenient excuse,' said Sen. Richard Blumenthal, D-Connecticut. 'He might well celebrate all our military services together since their birthdays are imminent. 'I'm all in favor of celebrating the anniversaries of our services in a more appropriate way but without the extravagant expenditure of funds that are vital to our military.' More: Tanks, cannons and soldiers sleeping in DC offices: Inside Trump birthday military parade The administration insists that the Army's anniversary and Trump's birthday are a coincidence and that the parade is justified to honor soldiers' sacrifice. Plans for the June 14 parade began in earnest about a month ago. 'The President is planning an historic celebration of the Army's 250th birthday that will honor generations of selfless Americans who have risked everything for our freedom,' Domestic Policy Council Director Vince Haley said in a statement last month. Trump told NBC in May that the parade's cost was, 'Peanuts compared to the value of doing it." The Army has acknowledged that the parade is costly, but says the expense justified. Tens of millions spent on a parade 'is dwarfed by 250 years of service and sacrifice by America's Army,' spokesman Steve Warren told reporters recently. The Army's initial estimate for the parade covered a range from $25 to $45 million. But as the event nears the estimate has been refined and includes damage to streets and infrastructure anticipated from heavy armored vehicles, according to a Defense official who was not authorized to speak publicly. It's unclear how much the Army has budgeted to repair expected damage. The $40 million in taxpayer dollars will fund a parade featuring Abrams tanks, vintage World War II warplanes and thousands of soldiers marching in period uniforms to mark the nation's battles from the Revolutionary War to the present. A reviewing stand is being erected for Trump south of the White House. The Army is shipping tanks from Texas by railroad to Washington for the parade, and soldiers from other posts around the country. They will be housed downtown in government buildings transformed into makeshift barracks with thousands of cots. More: DC mayor worried tanks will chew up downtown streets in Army-Trump parade Military parades, especially France's annual Bastille Day celebration, have captivated Trump. But celebrations of military might are more common in authoritarian regimes. Every member of the Army participating in the parade, from private to general, will be expected to bunk in what the Army calls Life Support Areas, the official said. There are exceptions. Pvt. Doc Holliday being one. Doc is a blue heeler hound and 'cherished member of Horse Cavalry Detachment, according to the First Cavalry Division. Doc will be staying in a hotel with his handler, the official said. This article originally appeared on USA TODAY: The Army gets a $40 million parade. What about the Navy, Marines?
Yahoo
10 minutes ago
- Yahoo
LA Protest Coverage Sparks Cable News Ratings Growth, CNN Doubles Audience
The Los Angeles protests over Donald Trump's ICE raids have sparked ratings growth across cable news since Friday, as viewers across the country tune in to follow the developing situation while the president deploys thousands of troops to the city. Most notably, CNN doubled its primetime audience by averaging 765,000 viewers from Friday through Tuesday, according to Nielsen figures, compared to 383,000 for the same week-earlier period. Demo viewership in primetime also saw a 109% spike, as CNN reached 142,000 viewers in the key cable news demo among adults 25-49, from 68,000 demo viewers the previous week. CNN saw by far the biggest boost, which can also be attributed in part to the protests picking up on Saturday, when the network televised a live performance of George Clooney's play 'Good Night, and Good Luck' — the special scored 7.34 million viewers globally. Still, both Fox News and MSNBC also saw slight upticks in viewership during the period as well. Fox News averaged 2.32 million primetime viewers from Friday through Tuesday — up 5% from the previous week's 2.2 million — while MSNBC saw a 12% uptick in viewership to reach 906,000 viewers (up from 809,000 the week prior). Fox and MSNBC also posted demo gains of 17% and 28%, respectively, at 269,000 and 91,000 viewers. The trend was similar in total-day viewership, though CNN only saw a 52% uptick, to 465,000 viewers, by that measure. Like primetime, CNN saw the biggest increase among the major cable news networks but remained in third place behind Fox (1.48 million) and MSNBC (571,000). The protests also resulted in a surge for local news in the L.A. market. KCAL, CBS' local Los Angeles channel, saw a 158% viewership jump during Saturday's primetime news programming, as well as a 166% increase in viewership during Sunday's 8-11 p.m. news slot compared to the previous week. Sister station KCBS also saw a 26% increase for its 11 p.m. news. As expected, having two relatively small-market teams in the NBA Finals has turned out to be drag on ratings. The first two games between the Oklahoma City Thunder and the Indiana Pacers averaged 8.84 million viewers, scoring 8.91 million and 8.76 million, respectively, for Games 1 and 2. Viewership for Game 2 fell nearly 30% below last year's matchup between the Celtics and the Mavericks — which brought in 12.3 million viewers — and marked the least-watched Game 2 since 2007, excluding 2020, when the pandemic-confined game brought in 7.54 million viewers. Reflecting continued growth for women's sports, the 2025 NCAA Women's College World Series drew a record audience, averaging 1.3 million viewers across 15 games on ESPN. That represents a 24% gain from last year, outpacing the previous high set by the 2021 tournament. The finals, which pitted Texas against Texas Tech, averaged a total linear viewership of 2.2 million, as both Games 1 and 2 ranked as the most-watched ever (2.1 million viewers) for those contests. ABC procedural 'The Rookie' has climbed its way into Nielsen's streaming charts due to its strong viewing on Hulu, appearing in the company's top 10 most-watched acquired streaming programs for the past nine weeks and 13 of the 19 weeks reported in 2025. While the show has benefited from the new season's next-day viewing on Hulu, Nielsen reports that recent episodes only account for 33% of the show's 2025 viewing, meaning that most viewers might be discovering the show for the first time on Hulu. Most recently, 'The Rookie' was the No. 5 most-streamed acquired show during the week of May 5, with 674 million viewing minutes, behind frequent list toppers 'Bluey' at No. 1, 'Grey's Anatomy' at No. 2, HBO's 'The Last of Us' third and 'NCIS' fourth. The post LA Protest Coverage Sparks Cable News Ratings Growth, CNN Doubles Audience appeared first on TheWrap.
Yahoo
11 minutes ago
- Yahoo
Plane crashes near Indian airport and judge rules on Mahmoud Khalil detainment: Morning Rundown
Donald Trump's rhetoric about L.A. protestors stands in contrast to his reaction on Jan. 6, 2021, when his supporters attacked the Capitol. Israel is considering a unilateral strike on Iran, sources say. And renters are on the rise in America's suburbs. Here's what to know today. An Air India plane with 242 people on board has crashed near a major international airport in the western Indian city of Ahmedabad. Air India, the country's flagship carrier, confirmed that Flight 171 from Ahmedabad to London Gatwick was 'involved in an accident today after take-off' and offered 'full cooperation to the authorities investigating this incident.' This is Morning Rundown, a weekday newsletter to start your day. Sign up here to get it in your inbox. The airline said 12 crew members and 230 passengers were onboard, including 169 Indian nationals, 53 British nationals, 1 Canadian national, and 7 Portuguese nationals. The number of casualties is not yet known. Ahmedabad Airport temporarily suspended all flight operations after the crash, which happened in a residential area near the airport just before 5 a.m. ET on Thursday. Hospitals were put on high alert. India's Prime Minister Narendra Modi said: 'The tragedy in Ahmedabad has stunned and saddened us. It is heartbreaking beyond words. In this sad hour, my thoughts are with everyone affected by it. Have been in touch with Ministers and authorities who are working to assist those affected.' Britain's Prime Minister Sir Keir Starmer called 'the scenes emerging of a London-bound plane carrying many British nationals crashing in the Indian city of Ahmedabad are devastating.' Read the full story here and follow live updates. Protests against ICE immigration raids have popped up across the nation while protests persisted in Los Angeles. In California, 700 Marines were mobilized in the L.A. area, and a curfew was enforced for a second night in a row in downtown. Meanwhile, a court hearing is set today in San Francisco over the state's lawsuit seeking to block the military from involving itself in immigration enforcement. In San Antonio, protesters gathered at a peaceful rally outside the Alamo to speak out against Texas Gov. Greg Abbott's deployment of the Texas National Guard. In Washington, D.C., President Donald Trump spent yesterday evening attending the opening night of 'Les Misérables' at the John F. Kennedy Center for the Performing Arts. This is Morning Rundown, a weekday newsletter to start your day. Sign up here to get it in your inbox. The president promised this week a swift response to any violence against law enforcement by protesters in L.A., writing on social media, 'If they spit, we will hit.' His low tolerance for such violence is a turnaround from Jan. 6, 2021, when his supporters attacked the Capitol in an attempt to block the certification of Joe Biden's 2020 election win. No National Guard help arrived for hours, despite pleas from those inside the building. And on the first day of his second term, Trump pardoned most of the rioters. The White House said Trump is fulfilling his mandate in L.A. to secure the border, make sure federal officials can execute his plan and restore law and order. Attorney General Pam Bondi, when asked about how Trump is handling California versus Jan. 6, 2021, said the situations are 'very different.' Some critics were quick to point out the change in attitude, including Michael Fanone, a former D.C. police officer who was attacked on Jan. 6. He called Trump a 'hypocrite' and said, 'Had those people storming the Capitol been illegal immigrants or Black people' or another group Trump's base took issue with, 'then they would have said 'open fire.'' Read the full story here. Republicans are barreling toward a critical deadline to lift the debt ceiling — and say there's no 'Plan B' if they don't pass the massive Trump agenda bill in time. Health and Human Services Secretary Robert F. Kennedy Jr. tapped eight new members to join the CDC's independent vaccine advisory panel, two days after firing the previous group. Here's who he selected. Trump's political statements at a rally this week at Fort Bragg raises questions about whether military regulations were violated. Progressive activist David Hogg said he won't run again for vice chair of the Democratic National Committee after the DNC called for a redo of the February election that elevated him to the post. Despite touting Trump's endorsement in the New Jersey primary, GOP candidate Jack Ciattarelli is looking to focus his campaign against Democratic Rep. Mikie Sherrill on a different political leader. Israel is considering taking military action against Iran, most likely without U.S. support, in the coming days, according to five people with knowledge of the situation. The potential move would mark a dramatic break with the Trump administration. It would also happen in spite of Trump being in advanced discussions with Tehran about a deal to to curtail its nuclear program and include provisions about uranium enrichment that Israel views as unacceptable. U.S. and other officials are on alert awaiting the possibility of Israel's striking Iran, the officials said. The notion of a new front in a simmering conflict has prompted the administration to order all embassies within striking distance of Iranian missiles, aircraft and other assets to send cables with assessments about danger and about measures to mitigate risks to Americans and U.S. infrastructure, two sources said. Read the full story here. The Trump administration, for now, cannot deport or detain pro-Palestinian activist Mahmoud Khalil based on a determination by Secretary of State Marco Rubio, a federal judge ruled. U.S. District Judge Michael Farbiarz's preliminary injunction will not take effect until Friday morning, which gives the government time to appeal. Khalil, a Columbia University student who played an active role in campus protests last year, was one of the first protesters targeted by the Trump administration when he was arrested in March. Rubio cited an obscure provision of the Immigration and Nationality Act of 1952 to justify Khalil's removal from the U.S. and said he posed a national security risk. Fairbairz said in his ruling yesterday that Khalil's 'career and reputation are being damaged and his speech is being chilled — and this adds up to irreparable harm.' Read the full story here. And last week, ICE denied Khalil's request to move to a detention center in New Jersey to be closer to his wife and newborn son despite an agency policy that requires parents and legal guardians to be transferred to facilities closer to their children if they are primary caretakers or have custody of minor children. Brian Wilson, the Beach Boys frontman who is widely considered one of the most gifted singers, songwriters and producers in the history of American pop music, has died at the age of 82. Jurors in disgraced movie mogul Harvey Weinstein's retrial found him guilty of sexually assaulting one woman and not guilty of assaulting another. They couldn't reach a verdict on a third woman's allegations. The Indiana Pacers took Game 3 of the NBA Finals in a 116-107 win over the Oklahoma City Thunder after unleashing their best defense and hustle on offense in the fourth quarter. In slashing billions in research funding, the Trump administration seems to have banked on the idea that the public will see much of scientific research as wasteful or arcane. So a number of researchers are finding new ways to appeal directly to everyday Americans. The first-ever images of the sun's south pole were released, offering fresh insights into its magnetic field and how it produces space weather. America's housing affordability problem has seeped into suburbs — so much so that it has become easier to rent than buy in several areas near major cities, according to recent analysis looking at rentership from 2018 to 2023. Among the metros where nearby suburbs have become majority-renter communities are Dallas, Houston, Miami, Boston and Philadelphia. From my perch in Los Angeles, where renting feels more like the norm than the exception, I find the shift in who has a stake in America's suburbs to be eye-opening. As experts told intern Evie Steele for this story, renting is a way for families to get the space and lifestyle of suburbia without the cost of a mortgage, which has risen sharply since the pandemic. And the appeal of suburbs doesn't seem like it'll fade anytime soon. — Elizabeth Robinson, newsletter editor When spending a lot of time outdoors, experts recommend wearing clothing with built-in sun protection. The NBC Select team consulted dermatologists on the best UPF hats to consider this summer. Plus, dermatologists lay out the major differences between American and Korean sunscreen. Sign up to The Selection newsletter for hands-on product reviews, expert shopping tips and a look at the best deals and sales each week. Thanks for reading today's Morning Rundown. Today's newsletter was curated for you by Elizabeth Robinson. If you're a fan, please send a link to your family and friends. They can sign up here. This article was originally published on
