Biogen Idec (BIIB) Stock Down Over 6%

One day does not make a trend but large cap tech stocks are soaring today on earnings (AMZN, GOOG, MSFT) and large cap biotech stocks are weak led by disappointment in Biogen Idec’s revenues (ALXN, BIIB) and a possible slowdown in the MS market. Alexion (ALXN) announced yesterday and missed forecast with earnings of with a profit of $91.3M or $1.28/sh. compared to estimates of $1.32/sh. Alexion product sales increased 25% year-on-year despite currency headwinds.

Celgene (CELG) bucked the trend up 2.5%.GILD reports 4/30.

Overall biotech stocks were mixed with the FBT flat and the IBB down 0.67%. Mid caps were mixed. Overall red dominated over green as of midday trading.