iShares NASDAQ Biotech ETF Pulls Back Off All-Time Highs

iShares NASDAQ Biotech ETF IBB is trading lower by $4.95 at $316.78 in Monday's session. After missing a new all-time high on Friday by $0.04 ($329.20 versus $329.16), it has been in retreat after a higher open that took the issue to $324.07.

On Friday, it was led by Biogen Idec Inc BIIB after the company reported upbeat Q4 profit and issued a strong earnings forecast for 2015. The issue opened higher and marched to a new all-time high at $397.00, before retreating to close at $389.16. After a brief rally back into the $390.00 handle, reaching $394.98, it has pulled back to the mid $380.00's, trading down $2.63 at $386.53 in Monday's session.

Another key component in the index, Celgene CELG, rallied to a new all-time high on Friday ($124.39) on the heels of its $0.02 beat on Thursday. However, it was able to maintain its gains and ended the session in the red by $1.71 to close at $119.16.

The next major component in the index to report Q4 is Gilead Sciences, Inc. GILD after the close on Tuesday. The Street is looking for EPS of $2.20 on $6.7 billion in revenues.