NEW YORK, NY / ACCESSWIRE / May 1, 2018 / U.S. markets ended April on a down note as another batch of corporate failed to boost investor optimism. The Dow Jones Industrial Average declined 0.61 percent to close at 24,163.15, while the S&P 500 fell 0.82 percent to close at 2,648.05. The Nasdaq Composite Index dropped 0.75 percent to close at 7,066.27. On Monday, all 11 sectors in the S&P 500 Index closed lower, while 25 of the 30 Dow components closed in the red.

"There's some caution about what the summer might bring, especially since stocks are up some 40% over the past year and a half," said Phil Orlando, chief equity market strategist at Federated Investors, according to MarketWatch.

"There's no shortage of things that can make you nervous, including North Korea, Iran, the Mueller investigation, the midterms, upcoming Fed meetings and so forth. We think the market will continue to move higher, but there's a lot of caution that is obscuring the good news in earnings."

RDI Initiates Coverage on:

Magellan Health, Inc.
https://rdinvesting.com/news/?ticker=MGLN

Portola Pharmaceuticals, Inc.
https://rdinvesting.com/news/?ticker=PTLA

Magellan Health's stock jumped 3.01% Monday, to close the day at $83.85. The stock recorded a trading volume of 292,799 shares, which was above its three months average volume of 186,059 shares. In the last year, Magellan Health's shares have traded in a range of 67.43 - 112.25. The share price has gained 24.35% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $104.93 is above its 200-day moving average of $96.38. Shares of the company are trading at a Price to Earnings ratio of 18.59. Shares of Magellan Health have fallen roughly 21.71 percent in the past month and are down 13.15 percent year-to-date.

Access RDI's Magellan Health, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=MGLN

On Monday, shares of Portola Pharmaceuticals recorded a trading volume of 1,740,007 shares, which was above the three months average volume of 1,251,568 shares. The stock ended the day 5.67% higher at $36.13. The share price has fallen 46.15% from its 52 week high with a 52 week trading range of 30.10 - 67.10. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $33.27 is below its 200-day moving average of $44.61. Shares of Portola Pharmaceuticals have gained roughly 10.62 percent in the past month and are down 25.78 percent year-to-date.

Access RDI's Portola Pharmaceuticals, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=PTLA

Our Actionable Research on Magellan Health, Inc. (NASDAQ :MGLN) and Portola Pharmaceuticals, Inc. (NASDAQ :PTLA) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com