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Daily Market Wrap

John MorganJohn Morgan

The Barron’s 400 Index (B400) lost 3.29 points and 0.66 percent to 495.48 Tuesday, following the broader U.S. stock market lower for a third day on profit taking after a stellar 2013 to date.

Year to date, the B400 is ahead 35.42 percent.

Among the top percentage decliners in Tuesday’s trade were biopharmaceutical firms.

PDL BioPharma (PDLI) slid 11.11 percent to $8.84. Ligand Pharmaceuticals dropped 5.25 percent to $53.64.

Myriad Genetics (MYGN) extended a volatile streak, falling 5.30 percent to $25.55 after JMP downgraded the stock from market outperform to market perform and removed its $36 per share price target.

Property & casualty insurer HCI Group (HCI) lost 7.78 percent to $47.50. Sidoti downgraded the stock to neutral.

Innospec Inc. (IOSP), a specialty chemical maker, dropped 4.65 percent to $45.89.

Leading percentage gainers on Tuesday included Herbalife, PGT Inc., Nu Ski Enterprises, Akamai and Advance Auto Parts.

Herbalife (HLF) jumped 6.68 percent to $76.65, a fresh 52-week high, on rising volume. A Belgian appeal court ruled the company’s sales model complies with the nation’s laws.

PGT Inc. (PGTI), a residential building products firm, gained 4.42 percent to $9.68. Investor Place offered a favorable write-up and said the stock is a buy.

Nu Skin (NUS) rose 5.61 percent to $132.03. Zacks upgraded the stock to strong buy on company projections that it will experience double-digit YoY growth in earnings and revenues.

Akamai (AKAM) added 3.42 percent to $45.62 on news it would buy Prolexic Technologies for $370 million.

Advance Auto Parts (AAP) rose 3.99 percent to $107.16.

Other major U.S. stock indexes also fell Tuesday.

The Dow Jones Industrials fell below the 16,000 mark, dropping 94 points to 15,915. The Nasdaq lost 8 points to 4,037, and the S&P 500 fell 6 points to 1,795.

John Morgan is a journalist and media executive who began his career at United Press International (UPI) and Cable News Network (CNN). He is a frequent editorial contributor to and other financial news outlets. Morgan was the founder of the Entertainment News Wire and several prominent media and entertainment sites including, and He has held management positions at two successful VC-backed portfolio companies.

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