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Amgen Inc

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  • The Week on Wall Street: Fed Spells Relief Friday, 17 Aug 2007 | 4:28 PM ET

    Stocks closed the week lower as credit market concerns had investors running for safety but a reversal of misfortune late in the week cut losses significantly.

  • U.S. Stocks Stage Dramatic Comeback From Session Lows Thursday, 16 Aug 2007 | 8:55 PM ET

    A strong rally during the final half-hour of trading erased much of Wall Street's losses in another volatile trading session. The rebound was led by recently battered financial shares on optimism regulators may let Fannie Mae and Freddie Mac, the two biggest U.S. mortgage funding companies, play a bigger role in steadying the ailing industry.

  • Drug Downers Thursday, 16 Aug 2007 | 3:58 PM ET
    Elvis Presley

    Thirty years ago, I was in Las Vegas. My stepmother took me to see Ann-Margret at The Hilton and I remember our waitress telling us that Elvis was the only one who could consistently pack the room. It was strange that he passed away the next day. On this, the 30th anniversary of the King's death from overdosing on prescription drugs, the stocks of the companies that make prescription drugs are having a very dark day.

  • Amgen Shares Hit 52-Week Low After Layoff Announcement Thursday, 16 Aug 2007 | 12:36 PM ET

    Amgen shares plunged to a 52-week low on Thursday in the wake of the biotechnology firm’s announcement that it will lay off more than 2,000 and as many as 2,600 employees--or 12 percent to 14 percent of its labor force.

  • Amgen Cuts Costs, Investors Cut & Run Thursday, 16 Aug 2007 | 10:53 AM ET

    Usually when a company announces cost cuts that will help improve cash flow and buoy profits, investors cheer and buy the stock. After the bell yesterday, Amgen revealed it's going to get rid of as many as 2,600 employees, cut its capital expenditures this year and next by nearly $2 billion and close or downsize plants. The measures are being taken to help absorb the blow from plummeting sales of Amgen's anemia drug, Aranesp, which is facing intense safety and reimbursement issues. This morning the stock is trading at a new multi-year low.

  • Dow ends Below 13,000 on Credit Concerns Wednesday, 15 Aug 2007 | 8:04 PM ET

    U.S. stocks closed near the lows of the session as a return of credit market concerns sparked declines. "I think the market is trying to find a bottom, but the psychology is brittle," said Alec Young, equity market strategist at S&P. "There are concerns with the liquidity problems right now, with credit spreads widening out and where is the next shoe to drop."

  • Amgen Plans to Cut 12-14% of Staff, Lowers Guidance Wednesday, 15 Aug 2007 | 4:38 PM ET

    Biotechnology firm Amgen said after U.S. markets closed Wednesday that it will slash its employee base by between 12 and 14% in hopes of reducing its 2008 cost forecasts by $1 billion to $1.3 billion on a pre-tax basis.

  • Amgen May Downsize, Analyst Upgrade Monday, 13 Aug 2007 | 12:30 PM ET

    After falling to a new low on Friday, Bernstein Biotech Analyst, Geoffrey Porges, is upgrading shares of AMGN from Market Perform to Outperform. Investors are bidding up the beaten down stock in midday trading. Bernstein makes a market in the stock.

  • Amgen: Reports Of Layoffs Question Company's Health Friday, 10 Aug 2007 | 2:03 PM ET
    The sign outside Amgen Inc.'s entrance. Thousand Oaks, Calif.

    The Los Angeles Times reports in a front-page article that Amgen may announce layoffs soon. The report attributes the information that the company may get rid of 15% of its employees within the next several weeks to "three people familiar with the matter".

  • Big Pharma's New Business Model? Wednesday, 1 Aug 2007 | 3:27 PM ET
    Sanofi Aventis

    As several of the major pharmaceutical companies struggle through a period of a relative dearth of big, new products, the job casualties and the share buybacks are piling up this earnings season. Today, Sanofi-Aventis is joining the group. The French drugmaker announced it will buy back more than $4 billion of its stock and get rid of even more sales reps.

  • It's Time for the Lightning Round! Tuesday, 31 Jul 2007 | 10:05 AM ET

    Caterpillar, Ryerson, Whirlpool and more...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.

  • Amgen outstripped Wall Street's earnings expectations with a second-quarter profit of $1.12 a share. Sales came in at $3.73 billion, also higher than consensus forecasts. The company also said its most important experimental drug, denosumab, met all its goals in a pivotal clinical trial of breast cancer patients.

  • Besides dissapointing earnings from Texas Instruments and Dupont, traders are watching several factors this morning.  "Right now we're seeing a variety of crosscurrent's that we haven't seen in some time," says Andrew Bekoff, chief investment strategist at Printz Capial Management.

  • MRK, SGP: Big Pharma Healthier This Monday Monday, 23 Jul 2007 | 12:38 PM ET

    After a disappointing week for big pharma earnings, Merck and Schering-Plough start the second-half of the sector's reporting season with a bang. Both companies beat the Street on the top and bottom lines. Merck also raised its full-year earnings guidance to boot. And investors love it. Look at the huge move in the Dow component.

  • Mergers and acquisitions and a generous portion of quarterly earnings along with OPEC news is turning the stock market picture back to the plus side after Friday's selloff, though looming in the background are credit market concerns.

  • JNJ: Not Doing Okay As Investors Check-Up On Stock Tuesday, 17 Jul 2007 | 11:26 AM ET

    The headline might say, "Johnson & Johnson Beats the Street," but investors are looking behind it and that's what is pushing this Dow component down this morning. For example, JNJ says its topline growth would have been just 3.6% instead of 13% if it had not bought Pfizer's consumer health care business last year for $16.6 billion. JNJ is kind of a three-pronged hybrid: pharma, medical devices and consumer healthcare.

  • Many analysts are facing this week's flood of earnings with a healthy dose of skepticism, knowing that results will once again have to exceed Wall Street's expectations to continue the market's advance.   The earnings parade comes as the Dow Jones Industrial Average and the S&P 500 trade at record highs with the blue-chip index touching 14,000 for the first time.  But rally aside, analysts believe there are still issues hanging over the market, which have caused a large share of the volatility since June.

  • It's Time for the Lightning Round! Thursday, 12 Jul 2007 | 10:33 AM ET

    Moody's, AT&T, Whirlpool and more...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.

  • Court Rules in Favor of Ariad in Eli Lilly Suit Monday, 9 Jul 2007 | 5:26 PM ET

    Ariad Pharmaceuticals said a U.S. federal court ruled in favor of it and co-complainants in a patent infringement case against Eli Lilly, saying that the patent was valid and enforceable.

  • Amgen said on Monday it has agreed to buy privately held Ilypsa, which is developing a drug for chronic kidney disease, for $420 million in cash.