Goldman Sachs' options team recommended this week that clients bet against 10 stocks that look most vulnerable to summer swoons.» Read More
Boston Scientific's earnings came in a penny below estimates on higher expenses related to its acquisition of Guidant.
As I write this Pfizer shares are down about 2.5% in intra-day trading on top of the 1% loss yesterday. Usually investors cheer when a company announces substantial cost cuts--10,000 jobs, as many as eight facility closures or sales, $1.5 billion-$2 billion in savings by the end of '08. Yesterday you could argue the move was simple selling on the news as the layoffs and cost cuts had been leaked a week ahead of the meeting. But today ...
After the market close yesterday Pfizer, in an SEC filing, revealed that ousted Chairman and CEO Hank McKinnell will walk away with nearly $200 million in pension benefits, deferred compensation and other cash and stock including more than $300,000 in unused vacation time. This is well above the pension benefits that had been reported earlier this year and includes money that had not previously been disclosed. A Pfizer spokesman says the company is honoring its legal obligation to meet the terms of McKinnell's employment contract which was signed in 2001--"a different time in the company's history," he said.
Sellers outnumbered buyers on Wall Street after multiple reports signaled a slowdown in economic growth. CNBC's "Closing Bell" team sorted through the details.
As The Stomach Turns: Ah, the pressure of producing breaking news. I’ve done it enough times, yet I always find the monthly Philadelphia Fed report nerve wracking...
Boston Scientific has landed an exclusive contract to provide drug-coated stents to the Cleveland Clinic, one of the nation's most prominent cardiology centers, CNBC pharmaceuticals reporter Mike Huckman has learned.
Within the last few hours CNBC's Pharmaceuticals Reporter Mike Huckman broke the news that Boston Scientific has locked up a huge account, but at what price?
For traders, Christmas came early this year. A strong U.S. jobs report Friday and a rebound in the U.S. dollar have kicked up a bit of a "Santa Claus rally" in the markets. And at least one analyst says there are more gifts under the tree. Phil Dow, director of equity strategy at RBC Dain Rauscher, wouldn’t be surprised if we saw an additional percent or two before the year is through.
As we've been writing--CNBC pharmaceuticals reporter Mike Huckman has been reporting from Gaithersburg, Md--where the U.S. Food and Drug Administration has convened a panel to decide the fate of drug-coated stents. Johnson & Johnson and Boston Scientific – the two major producers of stents – have been eagerly awaiting a decision.
Greetings from the Gaithersburg, Maryland Hilton! That's where the FDA is holding the advisory committee meeting on the safety of drug-coated stents. For less high-profile FDA meetings this hotel and the Holiday Inn across the street (the FDA alternates between them) are just fine. But for a big meeting like this one the venue is way too small.
Drug-coated stents that buttress the arteries are safe when used as directed, health advisers say, even though the risks they may pose to the majority of patients with the devices remains an open question
There's late word from CNBC's Mike Huckman. He reported in "Closing Bell' that the FDA stent conference came out in support of drug-coated stents. There had been concerns the drug-coated stents caused blood clots--and the metal stents did not. But the FDA says the proof is inconclusive.
Drug-coated stents that prop open the arteries of about 3 million people in the U.S. don't increase the risk of heart attack or death when used as labeled but may put patients at risk for blood clots, health advisers said Thursday.
The U.S. Federal Drug Administration is right now weighing in on the heated debate over drug coated stents versus metal ones. Stents are implanted in patients to stop heart attacks. They're looking into evidence that drug-coated stents-- may lead to dangerous blood clots. It's a huge concern that's effecting millions of heart patients. It's also effecting the $5 billion dollar drug-coated stent industry.