Closing Bell: Rally reality check (AMGN, BAC, SVNT, WMT, YHOO)

Amgen Inc. (NASDAQ: AMGN) may come front and center for being under attack as President Obama said he wants to see a framework that would allow generic competition for biologics, particularly for anemia treatments. That puts one-third to two-thirds of its entire revenue base at risk under a new system. Amgen was down 2% at $49.40 late in the day ahead of the closing bell.

Bank of America Corporation (NYSE: BAC) received a confusing call that was trouble for bulls and bears alike. Analyst Dick Bove warned of huge losses, but then raised his price target with praise. Shares were off by 2.6% at $13.36 late in the day before the market closed.

Savient Pharmaceuticals, Inc. (NASDAQ: SVNT) saw another huge trading spike in stock and options ahead of Tuesday's FDA review of its gout drug. Savient's stock was up 3.6% at $9.60 late in the day ahead of the closing bell.

Wal-Mart Stores Inc. (NYSE: WMT) is starting to get the worst DJIA component chart out there. This morning shares were downgraded at Goldman Sachs in favor of less defensive retailers. Shares were down 3% at $48.33 late in the day ahead of the closing bell.

Yahoo! Inc. (NASDAQ: YHOO) was one of the winners of the day, or at least that is how it feels in comparison on a down day. Citi raised its rating to a Buy on hopes of the turnaround. Shares were up a whole penny at $16.41 late in the day ahead of the close.