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Biotech / Medical : InterMune (nasdaq)ITMN

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From: Savant

8/26/2014 3:41:43 AM

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Roche/ITMN Deal Hoists First Trust Biotech ETF to Record High -- Market Talk

11:24 EDT - Roche's (RHHBY) $8.3B move to purchase InterMune (ITMN) sends the First Trust Amex Biotechnology Index ETF (FBT) to an all-time high and other biotech-themed ETFs soaring. The latest takeover sends ITMN up 36%. FBT is perhaps less well known than the $5.4B iShares Nasdaq Biotechnology ETF (IBB) or the SPDR S&P Biotech ETF (XBI), but it's soundly beating both this year. FBT is more concentrated than peers, with an equally weighted batch of 20 holdings that tilt toward early-stage companies. FBT up about 32% this year vs 20% for IBB and 22% for XBI.

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