Why Amarin, Ladenburg Thalmann Financial Services, and PG&E Jumped Today
Major benchmarks got out to a strong start on Tuesday, but initial enthusiasm about a potential breakthrough in the U.S.-China trade negotiations gave way to a more realistic assessment of where things stand between the two nations. Investors are still trying to balance worries about economic challenges with generally strong earnings reports from companies this quarter. Some stocks gained a lot of ground even as indexes fell back toward the unchanged mark. Amarin (NASDAQ: AMRN), Ladenburg Thalmann Financial Services (NYSEMKT: LTS), and PG&E (NYSE: PCG) were among the top performers. Here's why they did so well.
Shares of Amarin soared 24% after staff members at the U.S. Food and Drug Administration released notes about the company's fish oil drug, Vascepa. Later this week, an FDA advisory committee is scheduled to review Amarin's request to have Vascepa's indicated use expanded to cover treatment to lower cardiovascular risk. The notes eased some fears that investors had about a key Vascepa study, and investors are concluding that the treatment's expanded indication has a better chance of eventually gaining approval. Even if the advisory panel recommends Vascepa, the FDA will still get another chance to review the drug before making a final decision in late December.
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Source Fool.com
