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Today is supposed the first day of earnings season, yet few of the major stocks were big movers. The markets were strong at the start and in pre-market trading, yet the gains were challenged throughout the trading day. Here were today's unofficial closing bell levels:
MannKind (NYSE: MNKD - option chain) stock is trading lower today after the company said it will be unable to strike a partnership deal for its inhaled insulin product, Afresa, by the end of the year. The delay is due to a lag in obtaining FDA approval for Afresa, which may not come until January 2010. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on MNKD.
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