Stock index futures slide on Thursday.» Read More
Regarding my post from yesterday about Lilly CEO Sidney Taurel, a spokesman left me a voicemail this morning to say it has no intention of backing out of the interview next week. I've got a tentative commitment from Bristol-Myers Squibb to interview its new CEO Jim Cornelius for the first time at that company's analyst meeting next week.
During regular trading hours on Tuesday, Merck shares hit 60 bucks. If you bought the stock about two years ago and held it, you've doubled your money. Merck traded for 45 bucks and change the day before the company recalled Vioxx. It hadn't been above 60 since mid-2003. This has to go down as one of the greatest comeback stories in history.
If you eat it, drink it or smoke it - then buy it.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
So, does this mean I'm gonna get scooped by Reuters on Merck stories? I'm just kidding, but that was one of my reactions when I saw the press release this morning from Merck announcing that it's putting the CEO of Reuters, Tom Glocer, on its Board of Directors. The head of a financial data and news company on the Board of a major drug company. Very interesting.
Vertex Pharmaceuticals said Merck & Co halted enrollment on trials of their investigational leukemia drug MK-0457 due to a potential heart safety issue in one patient.
US stocks closed sharply lower Friday on an incessant stream of bad news in financials and technology that bled over into the rest of the market.
Merck has agreed to pay $4.85 billion to settle claims that its painkiller Vioxx caused heart attacks and strokes in thousands of users, the drugmaker said Friday.
The surprising Vioxx settlement brought me back to the office today in the middle of my vacation--I could've literally phoned it in as I did on "Squawk Box" this morning, but as long as I was in town, I'm too hard core to stay at home working around the house when a big story like this one breaks on my beat.
AstraZeneca has won U.S. approval to market its cholesterol-lowering drug Crestor to treat the clogging of arteries, which may boost sales of the blockbuster drug in an increasingly competitive market.
Novartis has found safety problems in higher doses of its key Galvus diabetes drug and will revise prescribing recommendations before launching in Europe.
This morning we got more evidence about the havoc generic Zocor is wreaking on all of the companies that make brand-name statins--the pills to fight cholesterol. AstraZeneca is the latest casualty. On a down day in the markets AZN is one of the biggest losers in the sector.
Pfizer has been using Dr. Robert Jarvik, the inventor of the Jarvik Artificial Heart, for quite some time now as its Lipitor "celebrity" pitchman. But recently I've noticed something remarkable creeping into his copy--the script he reads for TV and radio spots and the text that appears in the print ads.
British health authorities today announced that starting next fall, all 12- and 13-year-old girls will have to get the controversial shots to prevent the sexually transmitted virus that can lead to cervical cancer. Merck and Sanofi-Aventis are partners on the vaccine Gardasil and the UK-based GlaxoSmithKline makes a similar one Cervarix.
Stocks rallied late in the session to end a seesaw trading session higher as bargain hunters stepped in despite economic concerns and worries about global credit markets. "It seems like a little bit of a bounce back from Friday's Armageddon," said Mike Burnick, director of research at the Sovereign Society.
To a five-star fund manager, it's not how big the stars are, but how brightly they're shining. In the pharmaceutical field, Kris Jenner of T. Rowe Price finds brightness at both ends of the size spectrum.
Here are my thoughts so far today: 1) As expected, sloppy trading--weak open, modest rally, sell into rally. The crowd yelling "oversold" cannot drown out the great majority, who feel it is not really worth it to be a hero until things settle down.
Schering-Plough on Monday reported third-quarter profit and sales that fell short of Wall Street's target, sending shares down more than 10 percent amid concerns about its flagship cholesterol drugs
Merck reported a better-than-expected profit, helped by sales of its vaccines and cholesterol drugs, and raised its 2007 profit forecast in view of strong current trends.
U.S. stock investors looking to recoup from the worst week in almost three months will have to keep one eye out for signs of weakness in earnings due this week and the other on the threat surging oil prices.
Fear returned to Wall Street this past week, and the Fed's meeting Oct. 31 is now being looked at as a necessary balm for the markets. Rightly or wrongly, that's how traders are see it, and they now expect the Fed to cut its target Fed funds rate and probably discount rate by a quarter point at that meeting.