Biotech Values

[DewDiligence]

Someone actually lost significant money in yesterday’s AH screw-up:

http://online.wsj.com/article/SB10001424052748703922804576301133002321042.html

The surge in prices was caused when a brokerage firm submitted an erroneous order to Nasdaq, exchange spokesman Frank DeMaria said Tuesday. Nasdaq noticed the unusually high prices in many of the stocks and notified the brokerage, which filed to break the trades in exchange for paying a 30% penalty, Mr. DeMaria said. Nasdaq declined to disclose which brokerage had submitted the bad order.

The affected stocks were dominated by major health-care companies, including insurers Aetna Inc. and Humana Inc., drug makers Bristol-Myers Squibb Co., Pfizer Inc. and Eli Lilly & Co. and the consumer-products giant Johnson & Johnson.