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Stocks opened flat Friday as investors were encouraged by a pair of better-than-expected manufacturing readings but dismal economic data out of Europe and weak U.S. retail reports capped gains.
Investors are closely watching the latest ASCO data released Thursday 6pm ET. Results seem likely to move the market.
Comments made by Intel CEO Paul Otellini after hours could be bullish for stocks.
Scientific and medical journals like to keep their distance from the business side of things. That's why I think it's worth noting that a "Perspective" piece--think of it as kind of a newspaper Op-Ed--in "The New England Journal of Medicine" starts by mentioning Pfizer's stock price and its recent proposed acquisition of Wyeth.
For quite some time now analysts and investors have been speculating that big pharma would go on a biotech buying binge. So, will the announcement by Biogen Idec late Friday that it's putting itself on the market be the spark that ignites an M & A explosion in the sector? Perhaps.
Close on the heels of announcing the hiring of a Chief Talent Officer, Pfizer this morning named a new head of Global Research and Development to replace John LaMattina who had earlier said he'd be leaving the drug company. It was on LaMattina's watch that Pfizer's next potential breakout blockbuster drug, torcetrapib for cholesterol, failed in a late-stage clinical trial.