Stocks move broadly higher, led by tech firms; Biogen dives [Los Angeles Times (CA)]
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Source: Los Angeles Times
Stocks move broadly higher, led by tech firms; Biogen dives U.S. stocks moved broadly higher Thursday, on track to snap the market’s two-day losing streak. Technology companies powered the rally, which offset financial firms’ modest losses. Investors were weighing the latest batch of company earnings reports and some key analyst stock upgrades. Apple climbed after an analyst upgraded the technology giant’s shares. Chipmakers advanced after Micron Technology issued a strong outlook for the year. Olive Garden owner Darden Restaurants soared after reporting earnings that were far better than analysts expected. Levi Strauss surged after it began trading as public company for the second time in the jeans brand’s 166-year history. Biogen, a major biotechnology company, slumped on news it has stopped a trial for an Alzheimer’s disease drug. Regions Financial led a decline in financial-sector stocks, which are being hurt by declining bond yields. Bond prices continued to rise Thursday, sendi
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