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Tuesday, April 4, 2017

The Hot Stock: Incyte Jumps 3.6%

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One trading day after tumbling to the bottom of the S&P 500 following an expanded partnership with Merck (MRK), Incyte (INCY) soared to the top of the popular benchmark after announcing that its cancer combo with Bristol-Myers Squibb (BMY) would be heading for a Phase 3 trial. Incyte gained gained 3.6% to $138.52 today, while the S&P 500 fell 0.2% to 2,358.84. Merck dipped 0.1% to $63.47, while Bristol-Myers Squibb declined 0.3% to $54.21. JPMorgan's Cory Kasimov and team explain why the market likes Incyte's news:

April 04, 2017 at 02:10AM

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from Ben Levisohn

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