Market News

July 2, 2013  Tue 7:35 AM CT

Xbox Exec at the Helm

Zynga announced it hired Don Mattrick as CEO, replacing founder Marc Pincus. Mattrick is well known for building Microsoft's Xbox into a major gaming platform, and the news is propelling ZNGA higher by 7 percent before the bell on my tradeMONSTER platform.

Achillion Down on FDA Move

Achillion Pharmaceuticals said the Food & Drug Administration froze clinical trials of its experimental hepatitis C drug after some patients reported higher liver enzymes. ACHN craters 21 percent in the premarket.

Xyratex Rises on Strong Results

Xyratex reported second-quarter earnings of $0.10 a share, while analysts had expected a $0.05 loss. Revenue of $216.2 billion also topped the $203.2 million consensus number. XRTX rose 5 percent in early trading.

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Election Sector Rotation

Sector rotation is the process where mutual funds, portfolio managers, and investors in general, shift their investments from one sector of the economy to another.

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