U.S.stocks closed higher on Thursday at August highs despite subpar economic data around the world, and after conciliatory remarks from Putin.» Read More
In their stump speeches and debates, Hillary Clinton and Barack Obama often talk about pushing back against the Washington influence of the powerful pharmaceutical lobby and keeping drug company profits in check.
It's a new month. Time to clean out the inbox. Regarding my post earlier this week about Sen. Chuck Grassley's office breaking the "Nature" embargo on the leak of the GlaxoSmithKline Avandia study, I heard from the "Nature" article reporter.
In the wake of my semantic disagreement with Amgen over whether it beat, met or missed its earnings pre-announcement earlier this month, analysts are putting out research notes to clients on the company's results, guidance and new drug data and blog readers are sending emails about my take on the full year 2007 number.
A slew of strong earnings, good jobs data and a bounce in commodities kept stocks afloat for the second day in a row. And with Microsoft blowing away its numbers after the bell, the traders expect the rally to continue.
I just got back to my desk after doing a breaking news alert on Amgen's earnings. To sum up, I characterized the report as a mixed bag. The anemia drug sales weren't as bad as expected. Overall revenue was higher than consensus. And fourth quarter earnings per share was three cents higher than the Street.
Amgen reported on Thursday that its fourth-quarter profit edged higher, on a reversal of declining sales of its anemia drugs that have been hit with safety concerns and new restrictions on their use and insurance reimbursements.
After yesterday's beat and boost by drug giant Pfizer and a late-day rally in the stock, analysts are providing clients their take on the numbers as the shares traded lower in the early going. Deutsche Bank's Barbara Ryan is keeping her long-standing "Buy" rating on PFE, even though she told me recently she's been "long and wrong" on the stock.
Whether it was the result of bulls stampeding or bears running, Wednesday's 631-point pendulum swing in the Dow certainly lays the groundwork for more high velocity action Thursday when the markets have more earnings and economic news to consider.
Cramer makes the call on viewers' favorite stocks.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Even in an uncertain market, there are always opportunities to make money.
U.S. stocks tumbled Tuesday after a warning from AT&T sparked new fears of an economic slowdown. What’s the word on the Street?
So, imagine my surprise when Amgen put out a press release this morning with new financial guidance. You can read it for yourself here. The release was issued in conjunction with the company's presentation at the JPMorgan Healthcare Conference.
Stocks skidded back into correction territory as investors worried that the tumbling economy may not only cripple mortgage lenders like Countrywide Financial but create problems for other companies like AT&T.
Okay, the real "Granddaddy of 'em all" was actually this past Tuesday at the Rose Bowl (I promise that's my last reference to the amazing USC Trojans unless they win a split national championship), but the granddaddy of healthcare investment conferences begins on Monday in San Francisco.
What's the trade heading into next week's JPMorgan Healthcare Conference?
In a research note to clients this morning, Miller Tabak healthcare analyst Les Funtleyder writes about the FDA news I blogged about yesterday regarding Amgen's anemia drugs. He says, "...we believe the major 'leg down' in usage (of the anemia drugs) was last year and more studies assuming no major new negative revelations will only serve to continue deterioration but at a decelerating rate."
The Food and Drug Administration late this morning put out a news release with the heading, "FDA Receives New data on Risks of Anemia Drugs." This is more bad news for an additional population of cancer patients and, of course, Amgen and, to a lesser extent, Johnson and Johnson.
Brent Wilsey has a shopping list for the new year. The president of San Diego-based Wilsey Asset Management is urging investors to take a serious look at undervalued stocks -- and he offered CNBC viewers plenty of choices.
The seven biggest stories in my sectors in 2007? Avandia, Dendreon, Pfizer, Biogen were just a few of the topics that made this a fascinating year for the pharmaceuticals and biotechnology industries.
So, it didn't take long after my Genentech blog entry got posted yesterday for me to receive an email and a voicemail from a Genentech spokesperson requesting a "clarification" on my take regarding the latest chapter in the Avastin vs. Lucentis brouhaha. I think I'm being spun.