April 27, 2005 If investors were asking for lower volatility after recent up-and-down reversals, they got what they wanted on Wednesday. In a steady session, the broad market keyed on lower oil prices and moved higher, while biotech lost a small amount of ground. At the closing bell, the Centient Biotech 200 was 6 points lower at 3196.50, a .19% decline. The S&P 500 was .40% higher, and Nasdaq gained .16%. Gilead Sciences failed on its first attempt at a one-pill-per-day HIV tablet, Connetics came in low on Q1 earnings, Amgen and Abgenix have brought a colorectal cancer drug into Phase III trials, Beckman Coulter will buy Agencourt Bioscience, and Encysive has licensed an anti-inflammatory drug to a former subsidiary. More details...
