Stocks turned mixed Thursday as a rise in commodities stocks offset pressure from a weak jobs report and a sharp drop in import prices.
CEOs of big drug companies are rarely, if ever, publicly candid about the price of their stock. You usually get the boilerplate line about how they manage the business and the market will do whatever.
Futures dipped a few points as jobless claims hit a 26-year high. But the big topic on trading desks is the dollar, which may be weaker on expectations the U.S. will ease interest rates next week, so commodities and some commodity stocks (notably gold) are stronger.
Stock index futures indicated a slightly weaker open Thursday, pushed lower by further weakening in the jobs market and a sharp decrease in import prices..
Analysts have a one-day respite between two major pharma R & D days and they're using it to size up Merck's update yesterday and to set expectations for Eli Lilly's briefing tomorrow.
Earlier this week UBS pharmaceutical analyst Roopesh Patel put out a big 2009 sector outlook research note claiming, "So far, the global economic slowdown has had no noticeable impact — a) U.S. weekly and monthly U.S. prescription trends are stable; b) there also is no meaningfully cautionary commentary from any of the companies...." Well, he might have spoken too soon.
Look for M&A activity—big and small—a pair of breakthrough drugs and the prospect of government price controls.
Does the Food and Drug Administration approve drugs anymore? Or are we seeing the lame-duck leadership at the agency punt any action over to the next administration?
Wall Street has essentially thrown in the towel lately on Amylin Pharmaceuticals. The shares have plummeted from nearly $30 just three months ago to around $7 today.
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Remember Crazy Eddie? Well, now CEO’s are saying their stock prices are insane.
Stocks clawed back from five-year lows on Thursday, led by a bounce in energy and health-care stocks...
Stocks made a third attempt at a rally Thurdsay though techs took a beating amid worries about the outlook for the sector.
A rally spurred by bargain hunting fizzled Thursday as weakness in technology leaders offset strength energy-related companies.
Stocks are trapped in a volatile selling wave, driven by fears of the weakening global economy even as credit markets continue to show signs of improvement.
With so many other factors powering the market these days, third-quarter earnings could be little more than an afterthought.
A drug stock with a safe dividend? That's just what you need in this tough environment.
I don't think Eli Lilly will be running any more "Coming Soon" ads--like the one posted here for its late-stage experimental bloodthinner Effient--for drugs that haven't been approved yet by the Food and Drug Administration.
In my reporting, I always try to keep it simple. Particularly in the middle of the credit crisis, too much financial jargon goes over the heads of most people. The same can be said for biopharma coverage.
The Dow pared its massive loss in the final hour of trading Monday after fear that the credit crisis is spreading rippled through world markets. The blue-chip index ended down about 370 points, after being down as much as 800 at one point.