Stocks turned mostly lower Wednesday as better-than-expected growth in the second quarter fostered talk of Fed rate hikes.» Read More
LONDON, July 31- AstraZeneca is accelerating its push into cancer immunotherapy, with plans to test a key experimental drug in new tumor types. AstraZeneca said it would present further data looking at MEDI4736 in lung cancer, as well as early results for head and neck cancer, in September at the annual meeting of the European Society for Medical Oncology.
Wall Street on Wednesday will get two reads on the U.S. economy, one from the Commerce Department and the other from the Federal Reserve.
July 29- Pfizer Inc, which in May abandoned its $118 billion bid to buy AstraZeneca Plc, on Tuesday left investors guessing whether it would renew its pursuit of its British rival, but said it was considering other deals. Under UK takeover rules, AstraZeneca can attempt to re-engage with Pfizer in August, and Pfizer can make another run at AstraZeneca in November.
Merck reported better-than-expected quarterly results, with sales of newer drugs mostly offsetting declining sales of drugs facing generic competition.
July 29- Merck& Co Inc reported better-than-expected quarterly results on Tuesday, helped by strong sales of consumer products and medicines for arthritis and HIV, sending its shares up more than 1 percent in morning trading.
CNBC's Meg Tirrell reports both Merck and Pfizer beat earnings expectations amid patent expirations.
CNBC's Meg Tirrell spoke with Merck CEO Ken Frazier after earnings. Frazier spoke about the competition in hepatitis C, industry consolidation and shared his opinions on the U.S. tax system.
The "Squawk on the Street" news team discusses the quarterly results of Merck and Pfizer.
U.S. stock-index futures rose Tuesday as investors looked to economic reports, earnings and the Fed's mid-week policy decision.
July 29- Merck& Co Inc reported better-than-expected quarterly results on Tuesday, with sales of consumer products and medicines for arthritis and HIV helping to offset the impact of generic competition on other drug sales. Merck, the No. 2 U.S. drugmaker, earned $2.03 billion, or 68 cents per share, in the second quarter.
Stronger earnings for the second quarter and beyond will be the key driver that keeps gas in the bull market gas tank, leading quantitative strategists tell CNBC.
Fundamentally, U.S.-based companies are at a disadvantage because of our tax code, says Barbara Ryan, FTI Consulting, sharing her thoughts on tax inversion among the big pharma space.
What we are seeing is innovation is not dead, says Barbara Ryan, FTI Consulting, discussing Pfizer and Merck's second quarter results and big Pharma drug trends.
Some of the names on the move ahead of the open.
The maker of popular Type 2 diabetes pill Januvia said Tuesday that net income increased to $2 billion, or 68 cents per share, from $906 million, or 30 cents per share, in the same quarter a year earlier.
Major indexes in Europe and Asia closed with slight gains. On Friday, the Labor Department releases its monthly look at the job market. FROZEN: "The market today looks a little frozen, because it's going to face some really revealing stuff in the next 72 hours," said Jim Paulsen, chief investment strategist at Wells Capital Management.
The Fed meets for two days, starting Tuesday, and is widely expected to taper back its monthly bond buying program by another $10 billion to $25 billion - and do little else.
WASHINGTON— Standard& Poor's releases S&P/Case-Shiller index of home prices for May, 9 a.m.. WASHINGTON— The Conference Board releases the Consumer Confidence Index for July, 10 a.m.. WASHINGTON— House Energy and Commerce subcommittee hearing on EPA's proposed clean power plan and grid reliability challenges.
Pfizer's vulnerability to cheap generics and its weak roster of experimental medicines will be on display Tuesday, when the company reports earnings.
NEW YORK, July 28- Pfizer Inc's vulnerability to cheaper generics and its weak roster of experimental medicines will be on display Tuesday when the company reports quarterly earnings, reviving interest in its pursuit of AstraZeneca Plc or other deals to fortify its pipeline.