Amgen's Win, Netflix's Hire Send Nasdaq Higher
The first half of 2020 was turbulent, but it was generally good to the Nasdaq stock market, and that momentum continued on the first day of July. The Nasdaq Composite (NASDAQINDEX: ^IXIC) and the Nasdaq 100 climbed around 1%, outpacing much of the rest of the market.
Some big-name players on the stock exchange made major contributions to the advance. Amgen (NASDAQ: AMGN) celebrated a valuable legal win, while Netflix (NASDAQ: NFLX) made a strategic hire and got praise from stock analysts. Let's look more closely at the news that moved the Nasdaq higher Wednesday.
Amgen shares moved higher by 8% after the U.S. biotech giant got a favorable ruling from an appellate court. The victory over the Sandoz division of Novartis (NYSE: NVS) could put an end to the long-held dispute, although Novartis hopes that the U.S. Supreme Court might be willing to take a look at the case.
Source Fool.com
