Biotech company Biogen lowered its full-year profit forecast, citing higher costs related to its purchase of drug maker Reata Pharmaceuticals as well as the launch of its Alzheimer's drug.

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How Traders & Investors Are Positioning Themselves With Fed in Mind
Ed Egilinsky, managing director and head of sales and distribution and alternative with Direxion, joined Cheddar News to discuss how short-term traders are preparing for any forward-looking guidance from the Federal Reserve about any potential rate hikes. Egilinsky also discussed how traders are looking at the overall banking sector for the short-term.
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