Cantor Morning News | Healthcare

For the most part, tape did a rewind from Friday's action, on some of the lightest volumes of the year. Sanofi went public with their $69 all cash offer for GENZ, which finished up 3.3% on 17 million shares. IMGN rebounded almost 10% from Friday's disaster, closing at $5.65. Other than that, it was a sea of red in all healthcare related groups - hard to put an optimistic tone on any action. DRG outperformed market yesterday due to defensive nature and dividend yields.

JNJ still is trading in a choppy 2 point corrective pattern. We would expect it to break to the downside with a P&F target of 51.

Macro/Technicals

XLV: 28.21; -.36; -1.26%
DRG: 284.76; -2.08; -.72%
HMO: 1446.53; -36.78; -2.48%
BTK: 1061.68; -11.05; -1.03%

Leaders: IMGN GENZ AMLN BEC WCRX EBS
Laggards: MNTA ISPH NBIX SLXP NKTR GERN IPXL

Cantor Flows

BIOTECH/PHARMA: GENZ PFE MNKD

HEALTH SERVICES:AIRM HS RAD ARTC

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