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
The U.S. Medicare agency said Monday that, unless it receives new evidence, it will not reverse a decision to cut payments for certain uses of anemia drugs, including Amgen's Aranesp.
After being down about half-a-dollar in early trading, volatile shares of Amgen are trimming their loses and heading back into positive territory at this writing. That turnaround could be from the dissemination of a research note from Wachovia biotech analyst George Farmer.
Is the stem cell trade back on, ahead of next week’s biotech conference? The traders talk how to play stem cells without investing in risky, small biotech companies.
All quiet on the stock market front, but boy were the other markets hopping. Oil touched $80 and the dollar fell to a record low versus the euro. What’s the inside chatter on these events?
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.
There’s a ton of Big Pharma and Biotech news coming out. And most of it reinforces the call from the Fast Money traders to buy these stocks heading into the end of this year.
A panel of advisers to U.S. health regulators voted on Tuesday to reject new restrictions on anemia drugs, a win for drugmakers Amgen and Johnson & Johnson .
Is the Senate coming to the rescue of patients, investors or both? That's the question being raised after the passage of a non-binding resolution telling Medicare to "immediately reconsider" its new policy to cut anemia drug use and reimbursement. Analysts are stunned by the move.
So, I thought I'd be spending today monitoring the webcast of the FDA Advisory Committees that are meeting to decide whether doctors should use less of the anemia drugs from Amgen and Johnson & Johnson to treat kidney dialysis patients.
Wall Street is counting down to next week's Fed meeting and not much else is influencing trading. Stocks are readying for a higher opening as investors wait for a speech from Fed Chairman Ben Bernanke later this morning and watch the action at OPEC.
Get ready for a resurgence in biotech and chemicals, Cramer said from sunny southern California.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.
Stocks ended higher at the end of a quiet week of trading, as investors were encouraged by further moves by the Federal Reserve and a vote of confidence for the nation's largest mortgage lender. The Dow Jones Industrial Average posted a weekly gain of 1.8%, the S&P 500 rose 1.7% and the Nasdaq Composite advanced 2.1%.
On Amgen's conference call the other day regarding the biotech company's cutbacks, officials repeatedly stated that they think the federal government's new, restrictive guidelines for use and payment of Amgen's bread-and-butter anemia drugs will hurt patients and specifically, result in the need for more risky, old-fashioned blood transfusions to treat the condition.
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.
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.
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 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.
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.
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."
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.