Biogen cooling off despite analyst upgrade
The S&P 500 continues to trade relatively unchanged and right in-between the Dow (-0.1%) and Nasdaq (+0.2%). Within the underperforming health care sector (-0.9%), shares of Biogen (BIIB 396.18, -18.53, -4.5%) are down 4.5% despite the stock being upgraded to Outperform from Mkt Perform at Bernstein. The stock appears to be cooling off from a 40% pop on Monday after the FDA approved its Alzheimer's drug. Separately, House lawmakers officially released bills targeting "big tech companies," according to CNBC. The Wall Street Journal reported earlier today that these lawmakers want these tech titans to divest assets or break up parts of their businesses.