With Warren Buffett nosing around Big Pharma, investors are starting to wonder if drug makers might be the remedy to what ails this market.
In a series of exclusive live appearances on CNBC's Squawk Box this morning, Warren Buffett told us that by a "common sense definition", the U.S. economy is already in a recession, even if it hasn't met the technical definition of two consecutive quarters of negative growth. He restated, however, his view that over the long-run the U.S. economy will do fine and that each generation will live better than the one before it.
GlaxoSmithKline's experimental platelet-boosting drug Promacta has been granted priority review by U.S. health regulators, boosting prospects for its early launch, Europe's biggest drugmaker said on Monday.
On the eve of the make-or-break Texas-Ohio primaries for Sen. Hillary Clinton, she remains in first place in at least one "poll." The Center for Responsive Politics has updated its list of top pharmaceuticals/health products-industry money recipients based on the most recent campaign finance reports and the former First Lady edges out Sen. Barack Obama...
GlaxoSmithKline's new breast cancer drug Tykerb is to go head-to-head with Genentech's blockbuster Herceptin to see whether one is better or if patients should get both.
Warren Buffett's Berkshire Hathaway has accumulated an 8.6% stake in Kraft Foods, totaling over 132 million shares as of the end of the fourth quarter on December 31. That stake was worth $4.3 billion at that time. At today's closing price of $29.31, it's worth about $3.9 billion. EXPLORE WARREN BUFFETT'S INVESTMENTS WITH OUR NEW BERKSHIRE HATHAWAY PORTFOLIO TRACKER
Friday's markets will likely continue to be vulnerable to credit worries. There are a few economic data points including import prices and the Empire State survey, both at 8:30 a.m. TIC data from the Treasury is released at 9 a.m. and industrial production comes out at 8:15 a.m. Consumer sentiment is due at 10 a.m.
Federal Reserve Chairman Ben Bernanke said the economy should grow at a slow pace before recovering later in the year. What's the word on the Street?
The markets had a Warren Buffett rally on Tuesday, but tomorrow's news could just as easily send stocks plummeting again.
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GlaxoSmithKline forecast lower 2008 earnings due to falling sales of diabetes drug Avandia and increased generic competition, sending shares in Europe's biggest drugmaker down 7.6 percent on Thursday.
Shares of GlaxoSmithKline this morning are getting hammered because the company announced it expects earnings per share to fall by a mid-single digit percentage this year. Analysts thought they'd grow by three percent.
Cisco's downbeat earnings comments could make a dent in stocks Thursday morning. Ahead of the opening bell, investors will also be watching rate meetings by the European Central Bank and the Bank of England.
Reaction to part of a big government-sponsored diabetes drug study being halted over fatalities is pouring in from several corners. The American Diabetes Association put out a press release saying it "strongly encourages people with diabetes not to alter their course of treatment without first consulting with their health care team...
Yes, it was a big down day for equities, but I wanted to call attention to the fact that according to one of our resident stock gurus, Robert Hum, the Amex Pharmaceutical Index (you can see the 15 stocks that make up the so-called DRG here) closed at a two-year low today.
Standard and Poor's has just released the results of its twice-a-year stock screen, designed to find Warren Buffett-style stocks. The new list features several tech stocks, including Apple, as well as a number of names from Europe and Asia. But some key Buffett criteria aren't taken into account by the screen.
At 1 pm ET today the embargo was supposed to lift on an article in the scientific journal "Nature" that we got advanced word on early this morning. We were set to post the write-through about it at that time on our web site.
The scientific journal Nature reported today that a peer-reviewer for The New England Journal of Medicine leaked key study results on GlaxoSmithKline's diabetes drug Avandia to the company weeks before they were published.
For the second time this week, big pharma is taking a beating from critical reports about medications. This time, it's antidepressants. But one analyst thinks the drag on shares is overdone -- and names "exciting" pharma stocks.
Swiss drug maker Novartis said Thursday its fourth-quarter profit fell sharply, mainly due to restructuring costs, but that it would increase returns to shareholders with a new buyback program and an increase to its dividend.