iShares Nasdaq Biotechnology Index trades near resistance There has been a broad recovery in the underlying, but price has stopped short of testing the top of the bearish price channel. The 10-day moving average is a reasonable proxy for the channel line and was last at $350.12. Support is at $346.22.
Sirius XM buyback announcement positive but expected, says FBR Capital FBR Capital said Sirius XM's announcement last night of a $2B expansion of its buyback authorization is a positive, but is also consistent with the firm's expectations. FBR adds that the timing of the announcement suggests the company have been opportunistic with its repurchases during the recent pullback in the market. The firm keeps an Outperform rating on Sirius shares.