Stockwatch: What Glimmer Through Yonder Gloom Breaks?
Executive Summary
As Brexit-induced volatility continued to reverberate across the stock market last week, investment bank analysts started to downgrade companies by lowering their full-year earnings estimates. The prospects for second-quarter earnings season could have not have looked bleaker. Then paradoxically, at the end of the week, a clinical hold on a breakthrough biotechnology company product provided a glimmer of hope in the sector.