U.S. stocks on the move: VF Corp, Biogen, AbbVie
SPY•U.S. indexes advanced Friday, with the Dow up 0.74%, the S&P 500 up 0.54% and the Nasdaq up 0.54%. VF Corp rose after a JPMorgan upgrade, Biogen shares rose after UBS raised its price target, and UBS lifted its target for AbbVie.
1. Stocks advance
At 1:30 p.m. EDT, the Dow Jones Industrial Average was up 0.74% at 51,609.03, the S&P 500 was up 0.54% at 7,807.08 and the Nasdaq Composite was up 0.54% at 27,339.85. The indexes were on pace for weekly gains as investors looked ahead to earnings season the following week.
2. Company moves
VF Corp shares rose after JPMorgan upgraded the stock to neutral. Biogen shares rose after UBS raised its price target, citing late-stage pipeline catalysts. UBS also lifted its target for AbbVie as focus expands beyond immunology drugs.
