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Stocks Extend Holiday Cheer, Gilead Sciences Recovers From Dropped Drugs

Julia Sun
12/26/14 5:05 PM EST
On the last Friday of the year, December 26, major U.S. indexes wrapped up the second straight week in record territory. Previously beaten down biotech names came back to life. Gilead Sciences temporarily recovered after the market corrected an overreaction to the termination of Gilead Science's agreement with Express Scripts. Earlier this week, the largest pharmacy-benefits manager in the U.S. dropped Gilead Sciences' hepatitis C drugs from its list of approved medicines. But some believe Gilead Sciences runs a strong operation regardless and could launch a large buyback program very soon. The company finished a couple percentage points higher. Gold also climbed a couple percentage points, its greatest gain in two weeks, pushing the $1,200 barrier. That is an important technical and psychological number to watch as we finish up the year -- gold finished at $1,206 in 2013.
Stocks in this video: GILDGLD

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